Retail

Bloomberg Target Corp. said a system-wide outage that prevented customers from making purchases at its stores has been fixed. The two-hour outage, which affected its registers, was caused by an internal technology problem, the retail chain said, without giving more details. “Our technology team worked quickly to identify and fix the issue,” Target said in an emailed statement. “After an ...

Bloomberg Amazon.com Inc. stepped up its push into the UK, threatening Tesco Plc with tougher competition as Britain’s largest retailer said it’s feeling the squeeze from Brexit-related political turmoil. The US online giant is expanding its alliance with Wm Morrison Supermarkets Plc to offer groceries in more cities across the UK. The move puts more pressure on rival grocers, including ...

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 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 Retail billionaire Philip Green finds out whether creditors will force him to give up control of the sprawling empire he built up over years around well-known brands such as Topshop. Creditors to Green’s Arcadia Group were expected to meet in London to vote on its proposals to cut rents and close stores in order to ensure its survival after ...

Bloomberg Amazon.com Inc plans to donate $8 million to two nonprofit groups working on homelessness and affordable housing in Seattle and Arlington County, Virginia. Seattle’s largest employer has long been a target of activists there who contend the company didn’t do its part to help the city moderate a surge in the cost of living amid the tech boom. Last ...

Bloomberg Activist investor Jonathan Litt is threatening a proxy fight next year at Taubman Centers Inc if the US mall owner doesn’t take steps to improve its performance, including exiting Asia or divesting its top-performing properties. Litt said in a letter to shareholders that he planned to nominate directors at the 2020 meeting unless the company makes “meaningful progress.” “Their ...

Bloomberg Hudson’s Bay Co has tried everything to appease shareholders, from cutting costs to selling off assets. None of it has halted the stock’s steady decline, so Chairman Richard Baker is stepping in with a cash bid valued at about C$1.74 billion ($1.31 billion) to take the company private. Baker is teaming up with investors, including Rhone Capital LLC and ...

Bloomberg Chanel Inc has become the latest retail giant to make a public nod towards environmentally conscious products, investing in a “green” chemistry company as part of an effort to make luxury items less damaging to the planet. Both the apparel and cosmetics industries are major sources of waste, and chemicals often used to make fabrics and skincare products — ...

Bloomberg When Greg Hayes took the reins at United Technologies Corp in late 2014, the newly minted CEO said he would pursue huge deals to reshape the industrial conglomerate. He’s been true to his word, though not without a little pressure from activist investors pushing for a transformation. Since late last year, he has completed the acquisition of Rockwell Collins ...