Retail

Bloomberg Black Friday is increasingly an online shopping event, and that’s not necessarily a good thing for legacy retailers, some of which found themselves falling behind during America’s annual spending spree. Chains have decades of expertise filling stores with mountains of televisions and bathroom towels while coming up with doorbuster deals to lure the masses. But e-commerce isn’t yet the ...

Bloomberg United Technologies Corp. secured approval in China for its $23 billion purchase of aerospace supplier Rockwell Collins Inc., clearing the final hurdle to complete a megadeal that was reached more than a year ago. Rockwell’s shares jumped as much as 9.4 percent, the most in 7 years, on Friday, and United Technologies gained 3 percent. The decision, posted on ...

Bloomberg Walk into a JC Penney and it’s a sea of red stickers. Almost everything is marked down, from apparel, jewellery and home goods to Christmas decor, bedding and appliances. And it’s not even Black Friday yet. Even for a retailer whose identity is built on promotions and discounts, there’s an urgency to this holiday season. JC Penney Co.’s bonds ...

Bloomberg Lowe’s Cos. said it will exit its Mexico retail operations after the home-improvement chain reported sluggish same-store sales in the third quarter and cut its fiscal-year guidance again. Same-store sales rose 1.5 percent overall and 2 percent in the US, trailing analysts’ estimates. The company also said it will also divest Alacrity Renovation Services and Iris Smart Home. This ...

Bloomberg Shiseido Co., the Japanese beauty company seeking a more global presence, is bringing on a local hero with international appeal to sell its cosmetics, signing tennis star Naomi Osaka as a brand ambassador. Osaka, the first Japanese player to win a Grand Slam singles championship, has attracted advertisers looking for a fresh new face to reach a more diverse ...

Bloomberg The world’s largest Ikea store will open in 2020 in the Philippines as the Swedish furniture retailer presses on its bets in Asia. Ikea will debut a 65,000 square metre (700,000 square feet) store in SM Prime Holdings Inc.’s Mall of Asia where it’s leasing a space that’s equal to more than 150 basketball courts, Ikea Southeast Asia Managing ...

Bloomberg Casino Guichard-Perrachon SA promoted David Lubek to chief financial officer as the embattled French supermarket chain freshens up management in a bid to fend off short sellers who question its accounting. Lubek, 45, replaces Antoine Giscard d’Estaing, a 57-year-old nephew of a former French president. The outgoing CFO will pursue new professional projects after 10 years at the company, ...

Bloomberg As J.C. Penney Co. discounts more merchandise to clear the shelves of slow-moving inventory, investors are hopeful the painful overhaul is nearing its end. The department-store chain, which has been aggressively trying to get the right mix of merchandise in stores, reported a sales contraction in its latest quarter. It also withdrew its prior 2018 earnings guidance, replacing a ...

Bloomberg Canada Goose Holdings Inc. wants its customers to know what real cold feels like—from the comfort of a $1,000 parka. The company is adding frigid rooms to some of its stores where shoppers can test the luxury coats in temperatures as low as -25 degrees Celsius. A Montreal location is the fifth to include the fancy freezer, and Beijing ...

Bloomberg The maker of Oreo cookies has become the latest target by Greenpeace in its campaign to stop the destruction of rainforests for palm oil. The environmental group accused palm oil suppliers to snack giant Mondelez International Inc., which makes the famous black and white cookie as well as Cadbury chocolate bars, of deforestation and destroying orangutan habitats in Indonesia. ...