Retail

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. …

Bloomberg In an industrial park outside Cologne, German grocer Rewe Group is fighting back against Amazon.com Inc. with what it describes as the most technologically sophisticated online-shopping facility in Europe. The closely held retailer’s building, the size of 2 1/2 soccer fields, holds 20,000 items from drinks to diapers, twice as many as a typical supermarket. Products are stored in …

Bloomberg Mogu Inc., a Chinese startup selling fashion and cosmetics online, is targeting a reduced valuation of $2 billion in its US initial public offering amid a market rout that has hit demand for tech stocks, people familiar with the matter said. More volatility could hit its ability to achieve the goal and Mogu is evaluating conditions, the people said, …

Bloomberg UK retailers made a faltering start to the fourth quarter as sales unexpectedly fell for a second month in October. The volume of goods sold in stores and online declined 0.5 percent from September, the Office for National Statistics said. The median forecast in a Bloomberg survey was for a 0.2 percent gain. Decline was largest in seven months …

Bloomberg Toys ‘R’ Us Inc. won court approval on Tuesday for a bankruptcy exit plan that ties creditor recoveries — including severance pay for 33,000 fired workers — to lawsuits against the defunct retailer’s former officers and directors. The decision by US Bankruptcy Judge Keith L. Phillips means a litigation trust will be set up to try to hold Toys …

Bloomberg The co-founder and chief executive officer of Indian e-commerce company Flipkart Group has resigned after an investigation into allegations of “serious personal misconduct,” owner Walmart said. Binny Bansal, 37, stepped down immediately following an independent probe into the allegations, which the executive denies, Walmart said. The US retail giant completed its $16 billion purchase of the Indian company in …

Bloomberg Premier Foods Plc’s chief executive officer will step down as the maker of Bisto gravy and Mr. Kipling snacks weighs asset sales following pressure from activist hedge fund Oasis Management Co. CEO Gavin Darby will leave on January 31, the company said on Tuesday in a statement. Premier Foods also said it is in discussions with potential buyers of …