Retail

Bloomberg Metro AG, the German big-box retailer and wholesaler, is working with Citigroup Inc. and JPMorgan Chase & Co. to review options for its Chinese operations, according to people familiar with the matter. The business could be worth about $1.5 billion, based on earnings and the valuations of its rivals, the people said, asking not to be identified as the ...

Bloomberg The losses that drove Sears Holdings Corp. into bankruptcy could end up being a valuable multi-billion dollar asset because of tax breaks — especially for its most notable creditor and Chairman, Eddie Lampert. As of the retailer’s bankruptcy on October 15, Sears estimated it had net operating losses it could use to offset $5 billion of future taxable income, ...

Bloomberg Once upon a time, shoppers at the great American malls bounced from Sears to Bon-Ton to Borders Books and Circuit City, stopping along the way at all the smaller stores in between. Now the anchor model, which relied on big-box retailers to drive traffic, is fading. Sears Holding Corp filed for Chapter 11 protection on October 15, saying it ...

Bloomberg If you want to score a meeting with Chip Wilson, you better be prepared to sweat. The founder of Lululemon Athletica Inc likes to start his days hiking a 2.9 kilometer (1.8 mile) trail up the face of Vancouver’s Grouse Mountain. It’s his preferred way to conduct meetings and he’s sometimes accompanied by as many as 20 people seeking ...

Bloomberg Stores are so 20th century. At least that’s what many online brands believed. Companies like Warby Parker, Bonobos and Casper didn’t need physical locations to win over millennials and steal market share; a well-designed website was more than enough. And who could fault their logic? Given the brick-and-mortar carnage across America, the evidence seemed overwhelming. Then a funny thing ...

Bloomberg Fast-dwindling cash is casting doubt on whether Sears Holdings Corp. can firm up its survival plan in time to avoid liquidation. Sears is expected to bleed $220 million in just the first month of its bankruptcy, court filings show, cutting deep into the $300 million loan it secured this week from senior lenders. The crunch could become more acute ...

ABU DHABI / Emirates Business Celebrating its 75th anniversary, Ikea is giving away instant cash prizes summing up to a total of AED 1,000,000 in giveaway prizes to lucky winners in the UAE, across their Dubai, Abu Dhabi and Al Ain stores. The retailer is awarding the shoppers scratch and win cards when they spend a minimum of AED400 in ...

Bloomberg Amazon.com Inc. cracked down on fake reviews two years ago by prohibiting shoppers from getting free products directly from merchants in exchange for writing reviews. It was a major turning point for the world’s largest online retailer, which had previously seen “incentivised reviews” as a key way for consumers to discover new products. Amazon changed course because it realised ...

Bloomberg Asos Plc has posted stronger-than-estimated pretax profit as Britain’s largest online-only fashion retailer posted double-digit sa-les growth while some of its rivals in retail struggle with volatile weather and digital-first competition. The shares rose as much as 12 percent in London, the most in more than three years. Retailers like Asos that produce and sell their own labels continue ...

Bloomberg Walgreens Boots Alliance Inc Chief Executive Officer Stefano Pessina said it will be easier for his company to move online than it will be for Amazon.com Inc to copy its massive store network, predicting a long future for the pharmacy chain as it strikes new partnerships in health and retail. In a wide-ranging interview at Bloomberg’s headquarters in New ...