Retail

Bloomberg Hennes & Mauritz AB surged after the struggling Swedish clothing retailer showed progress coping with a buildup of unsold garments, raising hopes that the worst may be over after a three-year slump in earnings. Inventory dropped slightly as a proportion of sales, easing to 18.2 percent at the end of May from a record 18.9 percent as of last ...

Bloomberg Walmart Inc is re-listing its Japanese supermarket chain Seiyu after struggling to find a buyer for the unit, following a decade-long battle to compete with bigger local rivals. The US retailer will keep its majority stake in Seiyu after the listing, Walmart’s international division head Judith McKenna said in a statement. The company also announced a mid-term business plan ...

Bloomberg The popularity of Beyond Meat Inc’s plant-based protein offerings isn’t just a threat for meat producers. Such meat-free alternatives and consumer trends shunning animal protein could also hurt demand at agricultural chemical makers and fertiliser companies, according to Alliance Bernstein. Nearly 60 percent of the world’s corn and 90 percent of the soy goes into animal feed, analyst Gunther ...

Bloomberg Alibaba Group Holding Ltd has set up a new website to double the number of global brands on its flagship online mall, taking an important step towards fulfilling its global ambitions. The e-commerce giant began offering an English-language portal on Tmall for the first time to entice more merchants from around the world to sell to Chinese consumers. Alibaba ...

Bloomberg Shopify Inc’s biggest drop of 2019 shows the e-commerce stock is testing the limits of what investors are willing to pay for rapid revenue growth. The shares fell 8.9 percent in New York on Tuesday, their biggest drop since December 14, after more than doubling from the start of the year. That run-up created more than $25 billion in ...

Bloomberg MINISO Co, a Chinese budget household and consumer good retailer, is planning an initial public offering that could raise about $1 billion, according to people with knowledge of the matter. The company is inviting banks to pitch for roles on the proposed offering, the people said, asking not to be identified because the information is private. The share sale ...

Bloomberg Singapore’s Trax is acquiring Shopkick, adding the US rewards app to its growing stable of retail technology. Redwood City, California-based Shopkick lets shoppers earn rewards and gift cards by browsing online offers, watching videos, walking into stores or scanning product barcodes on shelves. Trax didn’t disclose how much it’s paying but seller SK Telecom Co acquired the Californian outfit ...

Bloomberg UK retail sales fell at their fastest pace since the financial crisis in the year to June, as relatively poor weather kept shoppers away from stores, according to the Confederation of British Industry. The volume of goods sold slumped by the most since March 2009, with almost one-in-six stores saying they sold less than the same time a year ...

Bloomberg Carrefour SA has agreed to sell an 80 percent stake in its China unit for $698 million in cash to local retailer Suning.com Co as it rethinks its exposure in the world’s No. 2 economy after years of decline. The yielding of control comes after a long search for a partner for the French company’s struggling Chinese operations. Once ...

Bloomberg Asia’s largest retailer is hoping that a $280,000 annual salary and a managerial title in three years will lure top talent as | it grapples with one of the tightest labour markets in Japanese history. The salary being considered by Uniqlo owner Fast Retailing Co would be more than three times the average pay at the company, and nearly ...