Retail

Bloomberg The gloomy state of brick-and-mortar retail has helped push another chain into bankruptcy, and this one is planning a speedy sale in order to dodge liquidation. Z Gallerie LLC, the upscale retailer known for its eclectic home decor, filed for bankruptcy in Delaware. The company blames the filing on self-imposed problems — namely a failure to invest enough in ...

Bloomberg Amazon.com Inc. — has abruptly stopped buying products from many of its wholesalers, sowing panic. The company is encouraging vendors to instead sell directly to consumers on its marketplace. The retailer makes more money that way by offloading the cost of purchasing, storing and shipping products. Meanwhile, Amazon can charge suppliers for these services and take a commission on ...

Bloomberg UK retailer John Lewis Partnership Plc cut employee-owners’ annual bonus to the lowest level in more than half a century, underlining the depths of the crisis in the country’s shopping districts. The operator of department-store chain John Lewis and grocer Waitrose said it cut the bonus to reduce debt, maintain investment and retain cash as it wrestles with uncertainty ...

Bloomberg Billionaire Mike Ashley’s push to oust the board of Debenhams Plc came after creditors of the troubled UK retailer repeatedly rebuffed his bid to take over immediately as chief executive officer, according to people familiar with the situation. Ashley, whose Sports Direct International Plc is the biggest investor in the department-store chain, has stepped up his campaign by appealing ...

Bloomberg The US retail sector is looking just fine for 2019 — as long as it’s not inside a shopping mall. Shares of Target Corp. and Kohl’s Corp. jumped after both retailers gave optimistic profit projections for the current year. The companies, which traditionally occupy big-box locations in strip malls, are showing how to defend market share in the age ...

Bloomberg Gap Inc.’s plans to spin off Old Navy made two things clear: The long decline of its namesake brand is accelerating, and its Athleta chain is its best chance of a future. The company’s signature Gap banner, which turns 50 this year, has posted just one quarterly sales gain in five years. That’s in stark contrast to Athleta, a ...

Bloomberg Nothing like a fresh pedicure to show off a new pair of sandals. At least, that’s what DSW Inc. is banking on as it tries to accelerate shoe sales by adding nail services inside more of its stores. The retailer said it’s adding nail salons to five shoe stores this year in Washington, Austin, Texas; and Dublin, Ohio. DSW ...

Bloomberg Amazon.com Inc. plans to open dozens of grocery stores in US cities, The Wall Street Journal reported, a move that would expand the retail and technology giant’s grocery footprint beyond its Whole Foods Market chain. The first of these stores will open in Los Angeles as early as the end of 2019, and Amazon is in talks to open ...

Bloomberg Gap Inc.’s announcement that it’s spinning off the best part of its business — Old Navy — sent the apparel retailer’s shares soaring 25 percent in premarket trading. The remaining company, which still needs a name, will consist of the namesake Gap brand, Athleta and Banana Republic, plus a couple of lesser known brands. It will have annual revenue ...

Bloomberg Massmart Holdings Ltd.’s lower dividend payout is yet another international headache for majority owner Walmart Inc. The South African retailer, controlled by the Bentonville, Arkansas-based global chain, cut its full-year dividend 40 percent, sending the shares as much as 6.7 percent lower. Walmart, which bought a majority stake in Johannesburg-based Massmart in June 2011 for 16.5 billion rand ($1.2 ...