Retail

Bloomberg Fast Retailing Co lowered its full-year operating profit outlook 11% as the Uniqlo owner’s international segment — a key driver of growth — was hurt by geopolitical turmoil in South Korea and Hong Kong. Asia’s largest retailer said earnings for the year through August will be 245 billion yen ($2.24 billion), according to a statement. Fast Retailing in October ...

Bloomberg PayPal Holdings Inc made a big bet in November with its $4 billion acquisition of Honey, a web browser extension that helps online shoppers find the lowest prices. Now Amazon.com Inc is warning customers not to use the tool. Shortly before Christmas, Amazon said Honey posed a security risk, which was reported by Wired. The warning perplexed some online ...

Bloomberg Chinese state-owned conglomerate Citic Ltd is planning to significantly reduce its stake in McDonald’s China Co more than two years after it bought into the fast-food chain, as rising costs pinch the franchise’s profit. McDonald’s China said in a statement on Wednesday that Citic is looking for buyers for a 22% stake, which will bring its share in the ...

Bloomberg Forever 21 Inc can add a lawsuit to the hurdles it’s trying to overcome as it works to woo investors in time to finance its exit from bankruptcy. An Alabama mall owner is suing Forever 21, saying it lost millions of dollars leasing space to the retailer based on misleading sales targets. Forever 21 is accused of misrepresenting sales ...

Bloomberg British grocers suffered their weakest holiday sales growth in five years amid intense discounting as consumers reined in spending during the critical Christmas period. Data from the retail analysis divisions of Nielsen and Kantar show that UK supermarket sales increased only marginally. Nielsen recorded 0.5% growth for the four weeks ended on December 28, which it said was the ...

Bloomberg Bed Bath & Beyond Inc, the home-goods retailer mired in a lengthy sales slump, rose after selling some real estate in a deal that generated net proceeds of more than $250 million. The properties represent about 2.1 million square feet of space, including retail stores, a distribution facility and offices, the company said. It is leasing back the space ...

Bloomberg Pier 1 Imports Inc is planning to dismiss about 40% of its headquarters staff and shut about 450 stores in an attempt to overhaul the troubled home furnishings business. The retailer has drafted a bankruptcy plan and last month made a presentation to creditors that envisioned a smaller company with about $900 million in annual sales, according to people ...

Bloomberg Takeaway.com NV is set to declare final victory in the five-month takeover battle for UK food-delivery company Just Eat Plc, people with knowledge of the matter said. Investors holding more than half of Just Eat stock have indicated they’ll agree to Takeaway’s all-stock bid, which values the company at about 6 billion pounds ($7.8 billion), according to the people. ...

Bloomberg Amazon.com Inc signed pacts with the Future Group to sell products from India’s second largest brick-and-mortar retailer on its online marketplace, as they fend off rivals in the world’s last big untapped retail market. Amazon will become the authorised online sales channel for Future Retail Ltd’s stores, which sell everything from groceries to cosmetics and apparel, according to an ...

Bloomberg Little Caesars Enterprises Inc has teamed up with DoorDash Inc to offer nationwide delivery, as it seeks to navigate the expanding world of mobile and online ordering that’s threatening to sap business from laggards. Starting from Monday, delivery will be available at about 90% of Little Caesars’ US locations. The prices are the same as carryout, plus a $2.99 ...