Retail

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 …

Bloomberg J Sainsbury’s sales fell in the first quarter since its planned acquisition of Walmart’s Asda collapsed, underlining the need for a revamp of its UK supermarkets. Comparable retail sales excluding fuel dropped 1.6 percent, with general merchandise, clothing and groceries all declining, the retailer said. The shares rose as much as 2.4 percent in London after an early dip, …

Bloomberg Procter & Gamble Co, facing an industrywide backlash against consumer waste, is seeking a patent that would help it develop recyclable versions of absorbent products including diapers, sanitary products and potentially even Swiffer pads. Because many absorbent products today use multiple kinds of plastic and other materials, they’re hard to separate during trash sorting and nearly always end up …

Bloomberg Poland’s biggest retailers fall as the government pulls forward plans to restore a controversial sales tax to September. The Polish cabinet updated its legislation agenda on Tuesday, which includes fast-tracking a levy that was suspended for three years amid a European Union probe on whether it constituted illegal state aid. In May, Poland won a challenge against the European …

Bloomberg Cosmetics maker Coty Inc will take a $3 billion writedown — about a third of its market capitalisation — as its aging mass-market brands face new competition from savvy upstarts in the booming beauty industry. The company, under pressure to turn its business around as revenues stagnate, laid out the first steps of a turnaround plan intended to revive …

Bloomberg The world’s richest can’t give away their money fast enough — but that’s not stopping them from trying. Warren Buffett said he plans to donate $3.6 billion of Berkshire Hathaway Inc stock to five charities — one of his largest gifts ever — while Walmart Inc heir Jim Walton gave away $1.2 billion of the retailer’s shares. And Home …

Bloomberg Shiseido Co is making it easier for customers to benefit from — and pay for — perfect skin. For 10,000 yen ($92) a month, subscribers will be able to access the Japanese cosmetics maker’s custom-designed skincare service, called Optune. Using a smartphone app that analyses skin and a dispenser with five serum-and-lotion cartridges, Shiseido says its product will deliver …