Retail

Bloomberg Plastic has been a hot topic in Davos and more big-name companies are stepping up commitments to reducing plastic waste — playing catch-up to other industry leaders. Fast-food chicken chain KFC said that all plastic-based, consumer-facing packaging will be recoverable or reusable by 2025. Walmart Canada announced plans that include reducing plastic bag use by 2025 that will take …

Bloomberg For the beleaguered Russian consumer, this month’s return to work after the New Year holiday came with an extra dose of pain, as a tax increase pushed up prices across a raft of everyday goods. Consumer confidence has fallen to the lowest level in two years, while research company Romir found that the average shopping bill shrunk for three …

Bloomberg Walmart Inc. has quietly withdrawn from one of Google’s marquee efforts to challenge Amazon.com Inc in e-commerce. Walmart removed its products from Google’s Shopping Actions service, the internet giant said. The retailer also recently dropped out of Google Express, a related delivery service. In March, Google unveiled Shopping Actions, which lets consumers more easily buy goods from retailers through …

Bloomberg Kering SA, the French owner of the Gucci luxury brand, owes about 1.4 billion euros ($1.6 billion) to Italy in back taxes, according to the conclusions of a government audit. The probe scrutinised business activities by Kering’s Swiss subsidiary, Luxury Goods International, from 2011 through 2017, according to a company statement. Kering said it contests the findings of the …

Bloomberg In the environmentalist mantra “reduce, reuse, recycle,” almost all of the attention has been paid to recycling. Now some of the world’s biggest consumer brands are trying to shift the focus to the second R, with a programme that provides products in reusable containers that can be returned for a refund. The durable packaging programme, called “Loop” — a …

Bloomberg Lowe’s Cos, looking to gain an edge on Home Depot Inc, is teaming up with the National Football League (NFL) in a sponsorship deal that kicks off in its competitor’s hometown. The chain is now the league’s official home-improvement retail sponsor, capitalising on the run-up to next month’s Super Bowl in Atlanta. Lowe’s will place billboards along the city’s …

Bloomberg Patek Philippe, the closely held maker of $10,000-plus Calatrava watches, may be coming up for sale, according to analysts at Berenberg who cited industry talk. The 180-year-old Swiss watchmaker could fetch 7 billion to 9 billion euros ($8 billion to $10 billion), analysts led by Zuzanna Pusz wrote in a note. Patek Philippe has been owned by the Stern …

Bloomberg US fast-food chain Taco Bell Corp is planning a spiced-up expansion in Thailand as the company grows its global footprint. The firm expects to open 40 restaurants in Southeast Asia’s second-largest economy by 2023, Liz Williams, the president of its international division, said in an interview. The first is due to open in Bangkok on January 24 and flavors …

Bloomberg Shoprite Holdings Ltd shares tumbled as an update from Africa’s biggest grocer highlighted the pressures customers face in core markets such as South Africa and Angola, along with the effect of weaker currencies in many countries across the continent. South African supermarket sales rose 2.6 percent in the six months through December, compared with gains of 7.8 percent in …

Bloomberg America’s largest wedding gown retailer emerged from bankruptcy, just weeks after it first sought protection from creditors. David’s Bridal Inc shrunk its debt load by about $450 million and is now owned by lenders including Oaktree Capital Group. The company, which filed for bankruptcy in November, was looking to exit bankruptcy quickly to avoid scaring off brides that might …