Retail

Bloomberg LVMH agreed to buy Tiffany & Co for more than $16 billion in the largest luxury-goods deal ever, raising the French conglomerate’s profile in jewellery and giving it access to a broader swath of shoppers in the US and Asia. The owner of the Louis Vuitton brand agreed to pay $135 a share for the US jeweller, according to ...

Bloomberg Amazon.com Inc is counting on a smartphone app known for cheap deals to lure Chinese consumers during the Black Friday online spree, in a partnership that extends to the end of the year. The US e-commerce giant’s cross-border unit has just opened a storefront on Pinduoduo (PDD), China’s No. 3 online retailer after Alibaba Group Holding Ltd and JD.com ...

Bloomberg Alibaba Group Holding Ltd has attracted about 200,000 investors to apply for the retail portion of its Hong Kong share sale, Hong Kong Economic Times reported, citing unidentified sources. It would make Alibaba the most popular listing of the year by the number of subscribers, the paper said, while adding that the number of retail buyers is less than ...

Bloomberg Walmart Inc’s Jet subsidiary is ending its fresh-food delivery business just a year after introducing the service in New York City, another sign that the urban-focussed site is scaling back. The retailer will close a warehouse in the Bronx it was using to prepare orders and also let some drivers go, resulting in the loss of between 200 and ...

Bloomberg Berkshire Hathaway Inc’s new wager on furniture retailer RH has Warren Buffett’s company in a place it rarely finds itself: invested in a heavily shorted stock. RH is the most popular short in the home-furnishing retail sector with 37% of the shares available to trade on loan to bears, according to data from financial analytics firm S3 Partners. The ...

Bloomberg Twenty-time Grand Slam tennis champion Roger Federer has bought a stake in Swiss running shoe manufacturer On, a move prompted by the end of his contract with Nike Inc and as he plans for life after professional tennis, Swiss newspaper NZZ am Sonntag reported. “I am excited to be able to work with a young Swiss company that’s on ...

Bloomberg After clearing up unwanted items last quarter as sales slumped, Macy’s Inc said it is now geared up for improvement in the crucial holiday quarter. The department-store offered mixed signals, cutting its full-year profit outlook after a key sales metric fell more than it anticipated last quarter. With some of the bad news now past and inventories cleared, the ...

Bloomberg Target Corp reached a record high after raising its full-year outlook again on strong sales and profitability, providing a safe haven after several retailers unnerved investors. Third-quarter comparable sales, a key retail metric, rose 4.5%, a full percentage point above what analysts polled by Consensus Metrix had projected. Profit this year excluding some items will be between $6.25 and ...

Bloomberg Europe’s wealthiest man is spending more than $1 billion on a Paris department store at a time when other shops are going out of business and consumers are turning to Amazon.com Inc. La Samaritaine, part of billionaire Bernard Arnault’s LVMH luxury empire, is set to reopen next April after a 15-year renovation. The company gave reporters a tour of ...

Bloomberg Nestle SA expects to get about a quarter of a billion dollars in extra revenue from Starbucks-branded products this year after it began selling items including Nespresso-compatible capsules under a partnership with the US coffee giant. Starbucks-branded merchandise will add about 250 million Swiss francs ($252 million) to sales this year, a spokesman said in response to questions. Last ...