Retail

Bloomberg Coca-Cola Co. has hired Cushman & Wakefield to sell a midtown Manhattan tower known as the Coca-Cola Building. The 18-story property, on the southeast corner of 5th Avenue and 55th Street, was inherited by Coca-Cola in 1983, through its purchase of Columbia Pictures. The beverage company “has determined that it does not need to retain its investment in the …

Bloomberg Dubai’s retail explosion is extending out to sea. Majid Al Futtaim Holding LLC, the Middle East operator of Carrefour SA stores, has created sail-through supermarkets to cater to customers on yachts, boats and jet-skis on three of the city’s beaches, the company said in an emailed statement. Shoppers on jet-skis and small sailing craft will be able to sail …

Bloomberg A halving of Zalando SE’s share price since July’s peak could put the online fashion retailer in the cross hairs of Amazon.com Inc., Alibaba Group Holding Ltd. or even Sweden’s Hennes & Mauritz AB, according to a Baader Helvea analyst. While two reductions of its sales forecast in six weeks sent the stock into a tailspin, Zalando retains many …

Bloomberg A Chinese investor group led by Anta Sports Products Ltd. reached a $5.2 billion deal to acquire the maker of Wilson tennis rackets and Louisville Slugger baseball bats, as it seeks to bring high-end athletic equipment to China’s wealthy consumers. The consortium, which includes Chinese buyout firm FountainVest Partners, will offer shareholders of Finland’s Amer Sports Oyj 40 euros …

Bloomberg Theresa May’s government has told supermarkets to keep as much stock as possible in warehouses around the country in case the UK crashes out of the European Union without a Brexit deal, officials said. The request is being made by ministers because in the worst-case scenario, a no-deal Brexit would cut the capacity of the country’s main EU trading …

Bloomberg For the second time this year, Macy’s Inc. is switching up its approach to China as it struggles to get its presence in the world’s most populous market right. Macy’s is shuttering its online store on Tmall, the platform for China’s biggest e-commerce company, Alibaba Group Holding Ltd. Macy’s will now ship to Chinese consumers directly from its US …

Bloomberg Ingka Holding BV, parent of the world’s largest home-furnishings retailer Ikea, has started construction on a $1.2 billion shopping mall in Shanghai that the company says is its single biggest investment. The mall, Ingka’s fifth in China, will span 430,000 square metres and house more than 300 local and foreign merchants, as well as an Ikea store, Ingka said …

Bloomberg After striking a pugnacious tone at Unilever’s capital markets day last year, Paul Polman extended an olive branch in his final investor presentation as chief executive officer of the consumer-goods giant. Polman, who’s preparing to hand over to Alan Jope in January, told analysts and shareholders that he’d been texting his wife Kim about how to leave things. Her …

Bloomberg Swedish home improvement chain Clas Ohlson will close all its stores in the UK and Germany following years of losses at its operations there and as the retail market increasingly shifts to online sales. The closures will affect about 150 employees, cost some $23 million, and set forth a “completely new direction” for the company’s operations outside the Nordics, …

Bloomberg The founder of yoga-apparel retailer Lululemon Athletica Inc. is close to joining the Chinese investor group pursuing a takeover of Amer Sports Oyj, owner of brands including Wilson tennis rackets, people familiar with the matter said. Canadian billionaire Chip Wilson is in talks to take around a 20 percent stake as part of the consortium led by Anta Sports …