Retail

Bloomberg Debenhams Plc secured a lifeline from some of its lenders, giving the troubled UK department-store company $51 million in liquidity as it attempts a broader refinancing. The company, which operates middle-market stores that anchor many of Britain’s malls, also struck an agreement with export and logistics company Li & Fung Ltd. on a sourcing partnership for Debenhams own-brand products. ...

Bloomberg Kering SA’s Gucci label outpaced competitors in the fourth quarter, though the 28 percent sales growth won little applause from investors who had high expectations after rival LVMH trounced estimates last month. The last of the major luxury-goods makers to report for 2018, Kering wraps up an unusually strong earnings season for the industry. The Gucci owner confirmed a ...

Bloomberg Mattel Inc. soared as much as 30 percent, the biggest intraday gain on record after the toymaker’s quarterly results blew past estimates, and posted its first earnings beat in three years. Analysts applauded the Barbie- and Hot Wheels-driven sales strength and believe that, together with the gross margin and earnings beat, shares should move higher. And, while highlighting global ...

Bloomberg Adidas AG is looking to better tap rapidly changing consumer tastes by increasing pace of development and production, and printing out customized shoes right in its stores. “Trends change extremely fast these days,” CEO Rorsted said in an interview with Euro am Sonntag. “What’s hot today in New York or Tokyo spreads in seconds around world through social media.” ...

Bloomberg One of Ocado Group Plc’s largest UK warehouses is expected to be completely destroyed by a fire, constraining the online grocer’s ability to meet customer demand and cutting sales growth. The blaze hit the 45-million pound ($58 million) automated facility in Andover, England, that manages as many as 70,000 orders a week. Although under control, it caused a collapsed ...

Bloomberg African online retailer Jumia is planning an initial public offering in New York this year that could value the business at about $1.5 billion, according to people familiar with the matter. Jumia’s largest shareholder MTN Group Ltd. is planning to raise as much as $600 million from selling its shares through the IPO, said one of the people, who ...

Bloomberg Apple Inc. named its third retail chief in seven years, seeking to shake up store operations while casting about for the next big hit as the iPhone era wanes. Apple said company veteran Deirdre O’Brien will replace Angela Ahrendts, who served in the role for about five years. O’Brien is the first insider tapped to run the Apple division ...

Bloomberg Retail sales growth in the US is expected to slow down in 2019 amid cooling economic conditions, according to the National Retail Federation, an industry trade group. Americans will boost retail spending by 3.8 percent to 4.4 percent this year, the NRF said. For comparison, preliminary estimates show that sales rose 4.6 percent in 2018, according to the group. ...

Bloomberg Fullbeauty Brands Inc., the women’s plus-size retailer, set a record for the fastest US corporate bankruptcy after taking less than 24 hours to win court approval for its plan to restructure the company. The company had support from all its stakeholders when it filed for Chapter 11 status in the US Bankruptcy Court in White Plains, New York. Fullbeauty, ...

Bloomberg Amazon.com and Walmart Inc.’s plans to dominate India’s online retail landscape have been ambushed by Prime Minister Narendra Modi’s political priorities heading into a tightening election. The vote, which must be held by May, has increased the influence of local retailers that lobbied for growth-crimping curbs on the US giants. On cue, India this month rolled out constraints on ...