Retail

Bloomberg Walmart Inc is exploring options for its Asda unit including an initial public offering after plans to combine the business with J Sainsbury Plc to create the UK’s largest supermarket chain collapsed, according to people familiar with the matter. In addition to a potential listing, the US retailer may also revisit a sale, though interest from private-equity firms has ...

Bloomberg Hermes International reported its fastest quarterly sales growth in more than four years, buoyed by demand from Chinese consumers, another sign that the world’s largest luxury market is holding up. The French maker of the famed Birkin bag reported sales growth of 12 percent at constant exchange rates, beating analysts’ estimates. “This is a rock solid start to the ...

Bloomberg The activist investors in Bed Bath & Beyond Inc say the retailer could unlock about $1.9 billion of value if it were to hire a new chief executive officer, improve inventory and explore selling non-core assets. Legion Partners Asset Management, Macellum Capital Management and Ancora Advisors proposed those changes and others in a 168-page report with their diagnosis of ...

Bloomberg The UK’s antitrust regulator will publish its final decision on Thursday on J Sainsbury Plc’s 7.3 billion-pound ($9.4 billion) plan to buy Walmart Inc’s Asda, after attaching harsher-than-expected conditions to the deal in February. Sainsbury’s attempt to buy the grocer — which would create the biggest UK supermarket chain — looked close to collapse in February after the Competition ...

Bloomberg Supermarket operator Royal Ahold Delhaize NV lowered its profit forecast due to an 11-day strike at its Stop & Shop chain in the US that crippled sales, spoiled produce and drew support from several Democratic presidential candidates. The Dutch-Belgian retailer reached a tentative agreement with five local units, allowing employees to return to work. The strike affected 246 of ...

Bloomberg TCI Co is in talks with a health food maker about a potential acquisition this year that’s aimed at diversifying its production base, the company says. The company hopes consumers will be more interested in the products it makes if it has factories outside China and Taiwan, executive deputy general manager William Liao said in an interview. TCI is ...

Bloomberg Stop & Shop reached a tentative contract deal with the union representing more than 30,000 of its New England employees, ending the biggest private sector strike in years. “The agreement preserves healthcare and retirement benefits, provides wage increases, and maintains time-and-a-half pay for current members,” chapters of the United Food & Commercial Workers (UFCW) union said in a statement. ...

Bloomberg It’s high in protein, low in sugar, and just right for the struggling American dairy industry. It’s Icelandic yogurt, also known as Skyr, and as the meteoric popularity of the Greek product fizzles, farmers are hoping the new variety will help lift them out of years of lackluster demand. A big reason dairy producers love it: Recipes for one ...

Bloomberg Bed Bath & Beyond unveiled changes to its board of directors including the naming of Lead Independent Director Patrick Gaston as independent chairman, saying the moves were in response to shareholder feedback and connected to its commitment to accelerating board refreshment. Five current independent directors will step down from the board, with the five new independent directors being Harriet ...

Bloomberg Pier 1 Imports Inc announced a plan to cut costs at the chain, which is under siege from newer online rivals. The company also announced an interim chief financial officer from AlixPartners LLP, a company known for its turnaround and restructuring practice. Part of Pier 1’s “action plan’’ includes generating cost savings and benefits of as much as $110 ...