Retail

Bloomberg Amazon.com Inc plans to launch a new supermarket brand distinct from the Whole Foods Market chain the company acquired two years ago, a sign of the retail giant’s hunger for a slice of the grocery market beyond high-end organic food. The company has posted four job listings for “Amazon’s first grocery store” in the Woodland Hills neighbourhood of Los ...

Bloomberg Beyond Meat CEO Ethan Brown may not be selling his company shares anytime soon but that isn’t stopping other executives from cashing out gains after restrictions ended last month. CFO Mark Nelson is the latest executive to sell 70,000 shares for $5.7 million, reducing his stake in Beyond Meat by 16%, according to a filing. Chief People Officer Cari ...

Bloomberg Alibaba Group Holding Ltd logged more than 268 billion yuan ($38.3 billion) of purchases during its Singles’ Day bonanza, exceeding last year’s record haul after a 24-hour shopping marathon. An estimated half-billion shoppers from China to Russia and Argentina swarmed the e-commerce giant’s sites to scoop up everything from Apple Inc and Xiaomi Corp gadgets to Ugandan mangoes. The ...

Bloomberg New Jersey Transit issued an urgent appeal for private industry to help transport millions of people annually to a newly opened mega-mall just west of Manhattan. “It can’t take 10 years,” Diane Gutierrez-Scaccetti, New Jersey’s transportation commissioner and NJ Transit board chairwoman, told a meeting of potential private partners in East Rutherford. “Frankly it can’t take five.” American Dream, ...

Bloomberg The owner of Sears and Kmart is closing almost a third of its remaining stores just months after buying the struggling retailer out of bankruptcy. Transform Holdco LLC’s shutdown of 96 locations will leave just 182 outlets for the company, which was once America’s biggest department store chain. The merchant “has faced a difficult retail environment and other challenges” ...

Bloomberg No longer the khaki king of the ’90s, Gap Inc has been in need of an overhaul for a very long time — and Art Peck won’t be the one to deliver it after all. Gap fired its chief executive officer after his turnaround efforts failed to reignite sales growth, with disappointing third-quarter performance sending shares plummeting in late ...

Bloomberg Tapestry Inc posted earnings that topped analysts’ estimates even amid a sharp sales decline at its Kate Spade brand, which has struggled to rebound after a period of heavy discounting and flash sales. Excluding some items, profit of 40 cents a share topped projections of 36 cents. The Coach brand, which accounts for more than two-thirds of Tapestry revenue, ...

Bloomberg Shake Shack Inc tumbled to what would be its lowest level since July after the burger chain’s third-quarter comparable sales trailed estimates and management reduced its sales target. “After seeing improved trends over the last two quarters, 3Q results — as well as 4Q commentary — were a sobering reminder of the volatility in results that often accompanies the ...

Bloomberg Marks & Spencer Group Plc’s efforts to turn around its troubled clothing business showed signs of life in the autumn, boosting the UK retailer after a weak first half of the year. The division’s full-price and planned promotional sales rose 2.7% in October, the company said on Wednesday. The shares gained as much as 7.9% in early London trading, ...

Bloomberg US brands may see a broad boycott at the world’s biggest shopping event this year as tensions between the US and China over everything from tariffs to technological dominance simmer. More than three-quarters of Chinese consumers surveyed said they’ll reconsider buying from American companies during the Singles’ Day shopping event on November 11, according to a report released last ...