Retail

Bloomberg Amazon.com Inc. has paused expansion of its line of Amazon Fresh grocery stores as it evaluates how to make the chain stand out to shoppers, Chief Executive Officer Andy Jassy said. Amazon has owned Whole Foods Market since 2017, but in recent years much of its energy has been devoted to Amazon Fresh, a line of mainstream grocery stores ...

  Bloomberg Bed Bath & Beyond Inc., the financially strapped home-goods retailer, missed interest payments on its bonds, a week after receiving a default notice from lenders. The retailer failed to make payments on notes that total more than $1 billion, a spokeswoman said in an emailed statement. The default means Bed Bath & Beyond has entered a 30-day grace ...

  Bloomberg Asda, the highly leveraged UK supermarket chain, is planning to cut jobs and change working practices to save costs. Britain’s third-largest grocer wants to axe night shifts so that staff restock shelves during late evening or daylight hours instead. That would remove the premium paid to night-shift employees who work after midnight and also cut more than 200 ...

  Bloomberg Impossible Foods Inc., the maker of meatless burgers and sausages, is preparing to cut about 20% of its staff. The Redwood City, California-based company currently employs about 700 workers. The new round of dismissals could reduce that amount by more than 100. Impossible Foods offered voluntary separation payments and benefits to employees at the end of 2022, said ...

  Bloomberg Tesco Plc is eliminating hundreds of manager roles across its stores and closing all remaining food counters and hot delis as the UK’s biggest supermarket operator seeks to cut costs. The grocer is introducing shift leader roles into its larger stores, allowing it to cull 1,750 other management positions. Tesco said it will also shut its food counters ...

  Bloomberg Whirlpool Corp. said it expects easing raw material costs to provide relief to profitability in 2023, even as economic activity loses steam. The shares rose in late trading. The company expects inflation for inputs such as steel and resins to moderate, which, combined with a cost-cutting initiative, should lower expenses by $800 million to $900 million, Whirlpool said ...

  Bloomberg Oatly Group AB will this month debut climate footprint labels on four of its plant-based yogurts, known as Oatgurts, in the US, and plans to update the labelling on 12 additional products sold nationwide over the next two years. Climate details for these 16 Oatly products will also be available online. “We’re in the business of driving an ...

  Bloomberg British convenience-store operator Bestway Group Ltd. raised its stake in J Sainsbury Plc as speculation swirls about the future ownership of the UK’s second-largest grocer. Bestway now holds 4.47% of Sainsbury, up from 3.45% last week, according to a filing. The family-owned business previously said that it intended to increase the holding, though it will own the shares ...

Bloomberg Inflation on British groceries jumped to another record high in January with little sign of the price rises slowing on the consumers’ weekly shop. The rate hit 16.7% in the four weeks to Jan. 22, up from 14.4% in December, reaching the highest level since Kantar started tracking the data in 2008. The increase adds an extra £788 ($973) ...

  Bloomberg Samsung Electronics Co., the world’s biggest smartphone maker, expects the smartphone market to contract in 2023. The Suwon, South Korea-based Galaxy device maker said it sees demand for mobile devices shrinking in the current year, even after the economic challenges and disappointing sales of 2022. The company detailed its biggest profit drop in over a decade, saying “the ...