Retail

Bloomberg Tesco plans to cut 4,500 jobs as the supermarket operator slims down hundreds of stores and adds to the mounting toll on employment in UK shopping districts. Britain’s biggest retailer said it will streamline operations at its 153 medium-size Metro stores in city centers, while reducing opening hours at 134 Express convenience stores. The moves announced come on top ...

Bloomberg Amazon.com Inc’s determination to offer shoppers the best deals is prompting merchants selling products on its marketplace to raise their prices on competing websites, a testament to the company’s growing influence over the e-commerce market. Amazon constantly scans rivals’ prices to see if they’re lower. When it discovers a product is cheaper on, say, Walmart.com, Amazon alerts the company ...

Bloomberg Next Plc shares surged after the company raised its financial guidance, helped by e-commerce investments that are keeping the UK retail bellwether ahead of troubled rivals. The apparel chain’s warehouse and distribution upgrades are boosting online sales, which rose 12 percent in the latest quarter, even as British department stores and other fashion chains sink deeper into trouble. The ...

Bloomberg Vegan ice cream is a hot commodity these days. But violent storms that have devastated farms in Southeast Asia are threatening to take away one of its best ingredients — coconuts. Much of the world’s supply comes from the region, which is grappling with an increase in storms’ frequency and intensity because of warming seas. Coconuts’ natural creaminess is ...

Bloomberg Walmart Inc appears be pondering whether to test waters in the world of cryptocurrencies, following the steps of Facebook Inc. The retailing giant applied to patent a way to use a digital coin tied to a traditional fiat currency, which could allow for cheaper and faster transactions as well as loyalty features, according to a filing by the US ...

Bloomberg The University of California is looking to halt imports of vintage-style LED light bulbs that are sold at five of the nation’s biggest retailers, including Walmart Inc, Target Corp and Amazon.com Inc. The University of California Santa Barbara says the retailers should be paying it royalties from sales of the bulbs. Bed Bath & Beyond Inc and Ikea of ...

Bloomberg Yum! Brands Inc’s latest quarterly sales climbed more than expected, propelled by strength at Taco Bell and KFC, its strongest divisions. Even laggard Pizza Hut showed some new signs of life. Comparable sales at Yum rose 5 percent last quarter, up from 1 percent in the year-ago period. That topped the 3.1 percent average estimate from Consensus Metrix. Taco ...

Bloomberg Bunge Ltd earnings surged in the second quarter as an investment in Beyond Meat Inc helped cushion the 201-year-old firm from a tough environment for agribusiness. Shares rose. Nearly half of Bunge’s better-than-expected earnings came from its investment arm’s stake in the faux-meat company. Beyond Meat has soared 680 percent since its May initial public offering as part of ...

Bloomberg Shopify shares notched another record after the Canadian e-commerce company reported second-quarter sales that beat analysts’ average estimate and gave a more optimistic full-year outlook. Revenue grew 48 percent to $362 million, according to a company statement. Analysts were projecting $350.5 million. Shopify raised its 2019 revenue guidance to a range of $1.51 billion to $1.53 billion but kept ...

Bloomberg L’Oreal SA shares tumbled as a drop in North American sales raised concerns that a makeup boom fuelled by beauty bloggers and selfies has lost steam. The stock fell as much as 4.9 percent in Paris trading, the most in three years. The sales decline in a crucial region came even as demand from China lifted the world’s biggest ...