Retail

Bloomberg The 5.8 billion-euro ($6.6 billion) offer of Czech billionaire Daniel Kretinsky and his Slovak investment partner Patrik Tkac for Metro AG “substantially undervalues” the German food distributor, the management board said. The unsolicited bid of 16 euros for each ordinary share and 13.80 euros per preference share also doesn’t reflect its value creation plan, the Dusseldorf-based company said in ...

Bloomberg TBH Global Co, the South Korean clothing retailer whose brands include Basic House, is considering a sale of its Chinese business that could raise about $200 million, according to people familiar with the matter. TBH Global shares jumped the most in more than 13 years. The company has held talks with potential advisers about the sale, said the people, ...

Bloomberg Walmart Inc will fully integrate all Jet.com employees into the larger company and shrink the unit’s management team nearly three years after buying the e-commerce site. The changes, outlined in a memo from Jet co-founder Marc Lore, include the departure of Jet president Simon Belsham, who will seek another opportunity inside or outside the company after a transition period ...

Bloomberg A closely watched researcher has cut its estimate of Amazon.com Inc’s share of the US e-commerce market after incorporating new figures from the company. EMarketer Inc, among the most widely cited sources for estimates of US online retail sales, says it now expects Amazon to account for 37.7 percent of online commerce this year, down from a prior estimate ...

Bloomberg Shake Shack is staying away from vegan burgers, at least for now. The fast-food chain, known for its Pat LaFrieda beef and fries, is watching the vegan-burger trend that’s been turbocharged by Beyond Meat Inc’s massive post-IPO stock rally. But Shake Shack isn’t ready to get on board, according to CEO Randy Garutti. First, the chain, which made its name ...

Bloomberg Maybe American kids will only have to live through one Christmas without Toys ‘R’ Us. About a year after shuttering US operations, the remnant of the defunct toy chain is set to return this holiday season by opening about a half dozen US stores and an e-commerce site, according to people familiar with the matter. Richard Barry, a former ...

Bloomberg Steinhoff International Holdings NV reduced its loss by 70 percent in the fiscal year ended in September. The step towards a recovery wasn’t enough to stop its shares from falling. The net loss was 1.2 billion euros ($1.3 billion) during the period, down from 4 billion euros in the previous year. The owner of Conforama in France and Mattress ...

Bloomberg The impact of Target Corp’s weekend register glitch won’t show up until the retailer discloses quarterly revenue in August, but it could have cost the company about $50 million in lost sales, according to one analyst. Target’s registers went down for about two hours recentlyacross the chain, stemming from what the company called an “internal technology issue” that left ...

Bloomberg Hennes & Mauritz AB (H&M) revenue growth showed a slowdown in April and May, stymieing the Swedish clothing retailer’s attempts to reduce a buildup of inventory that’s been weighing on earnings. Sales in the latest quarter were above analysts’ estimates as compiled by Bloomberg News. But the figures suggest growth slowed to 5.5 percent in April and May from ...

Dubai / Emirates Business Oppo — a leading global smartphone brand — is extending its presence in the region with the announcement of new distributors for its smartphones, including UAE’s Lulu Hypermarket, one of the biggest organised retailers across GCC. The new partnership with Lulu in the UAE marks the beginning of a relationship that will evolve to cover the ...