Retail

Bloomberg Walmart Inc has a hole to fill at its online unit, and whoever assumes the role faces a big challenge ahead. The company is searching for a new chief revenue officer for its US e-commerce business, who would work under online leader Marc Lore to help map out its battle plan against Amazon.com Inc, Target Corp and other rivals. ...

Bloomberg Walmart Inc is facing a strike by thousands of workers in South America amid the retail giant’s push to increase automation at its physical stores. About 17,000 Walmart workers in Chile went on an indefinite strike after labour talks between the company and the union failed. As many as 124 of the retailer’s 375 stores across the country closed ...

Bloomberg Steinhoff International Holdings NV’s first-half sales gain gives the global retailer some wiggle room as it looks to finalise debt-restructuring talks. Still, there is plenty of uncertainty. Steinhoff said sales rose 3 percent in the six months through March to $7.7 billion. The owner of Poundland in the UK and Conforama in France reported its third set of earnings ...

Bloomberg Levi Strauss & Co fell in late trading as profit in its second quarter as a public company tumbled from a year earlier. The denim maker said on its conference call that adjusted diluted earnings slipped 21 percent from the prior year to 17 cents. When including $29 million of expenses associated with its IPO, second-quarter profit was 7 ...

Bloomberg Chinese supermarket operator Wumart Stores Inc and an investor group backed by rival Yonghui Superstores Co are among suitors that proceeded to the final round of bidding for German food wholesaler Metro AG’s China business, people with knowledge of the matter said. Yonghui has teamed up with Hillhouse Capital, according to the people, who asked not to be identified ...

Bloomberg Amazon.com warehouse workers in Minnesota plan to strike during the online retailer’s summer sales extravaganza, a sign that labour unrest persists even after the company committed to paying all employees at least $15 an hour last year. Workers at a Shakopee, Minnesota, fulfillment centre plan a six-hour work stoppage from July 15, the first day of Prime Day. Amazon ...

Bloomberg A rise of more than 55 percent in Ocado Group Plc’s shares this year, and increased competition, has put the UK online grocer and technology provider back in the sights of bearish speculators. Short interest in Ocado climbed above 5 percent of shares outstanding for the first time since July 2018 last month, after touching a multiyear low in ...

Bloomberg J Sainsbury Plc shareholders gave Chief Executive Officer Mike Coupe a vote of confidence at the supermarket operator’s annual general meeting, despite declining sales and the collapse of its planned acquisition of Walmart Inc’s Asda. More than 99 percent of investors voted in favour of keeping Coupe on the board. Still, some investors questioned Chairman Martin Scicluna on Sainsbury’s ...

Bloomberg Amazon.com is facing an initial review by the UK competition regulator into its bid to buy a slice of fast-growing food delivery startup Deliveroo. The Competition and Markets Authority (CMA) said it has “reasonable grounds” to believe that Amazon and Deliveroo have either ceased to be separate businesses, or will merge in the near future, according to the enforcement ...

Bloomberg Nike Inc stood by its decision to pull its Fourth of July sneakers from stores, even as the move dragged it once again into America’s culture wars and drew criticism from conservative lawmakers claiming political correctness has gone too far. “We regularly make business decisions to withdraw initiatives, products and services. Nike made the decision to halt distribution of ...