Retail

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 ...

Bloomberg Richemont slumped after the Swiss luxury-goods maker signaled that the recent boom in China is over and warned that a trade war could dent demand for Cartier necklaces and Piaget watches. The stock fell as much as 5.4 percent in early trading. Richemont reported an unexpected decline in first-half operating profit amid M&A-related costs and as the company sold ...

Bloomberg UK lawmakers have written to the heads of online retailers including Amazon.com Inc. and Asos Plc to seek evidence about the environmental and social impacts of selling cheap clothes. The letter to the head of Amazon in the UK was prompted by evidence given to a panel of British politicians that heard the demand for affordable garments online is ...

Bloomberg Ruyi Holding Group, the Chinese apparel firm that’s taking over Bally International AG, will slow its dealmaking after announcing more than $4 billion of overseas acquisitions in the past three years. The company will focus on integrating existing brands and ease its M&A pace in the short to medium term, chairman Qiu Yafu said in an interview in Hong ...

Bloomberg Alibaba Group Holding Ltd. logged 213.5 billion yuan ($30.7 billion) in sales for its annual Singles’ Day extravaganza, setting a record as shoppers swarmed the e-commerce giant’s online bazaars. China’s largest company reported that Xiaomi Corp., Apple Inc. and Dyson Ltd. products were the top three brands in early sales. The annual retail celebration, originally dedicated to the nation’s ...