Retail

  Bloomberg US retail sales fell by the most in a year and business equipment production slumped, raising concerns that the economy is losing momentum under the weight of tighter Federal Reserve policy. The value of overall retail purchases broadly fall 1.1% in December after a downwardly revised 1% drop in the prior month, Commerce Department data showed. Separate figures ...

  Bloomberg Richemont and Burberry Group Plc said consumer spending in China is already rebounding after three years of pandemic lockdowns and a virus surge that cost the luxury-goods makers almost a quarter of their sales there last quarter. Burberry Chief Financial Officer Julie Brown pointed to “very promising signs in January” in the key luxury market. A Richemont spokeswoman ...

  Bloomberg A marketing vice president at Starbucks Corp. is leaving the company, continuing an exodus of executives since Howard Schultz returned to the helm. Jen Quotson, vice president of creative studios at Starbucks, is departing the coffee chain after 14 years. She spent more than eight years in her most recent role, according to her LinkedIn profile. A company ...

Bloomberg Unilever Plc’s Indian unit reported a better-than-expected quarterly profit as the declining prices of key raw materials, including palm oil, boosted the consumer goods giant. It also raised the royalty payout to its European parent. Mumbai-based Hindustan Unilever Ltd. posted a net income of 25.1 billion rupees ($309 million) for the quarter ended December 31, according to an exchange ...

  Bloomberg Burberry Group Plc showed lackluster sales growth last quarter as customers in China were kept at home first by strict pandemic controls and then, at the very end of the year, by a viral surge as the government loosened restrictions. Comparable store sales rose 1% in the quarter ended December 31, 2022, below the 1.4% gain analysts anticipated. ...

  Bloomberg Amazon.com Inc. is halting “AmazonSmile,” a decade-old charitable program that let customers pick a charity to receive a donation from the company equal to 0.5% of their purchases. The announcement, which coincided with a fresh round of layoffs that will affect 18,000 Amazon employees, showed how tech industry cost-cutting could ripple through the nonprofit world. The company, which ...

Bloomberg Amazon.com Inc is set to begin a round of layoffs ultimately affecting more than 18,000 employees in the largest job cull in its history, which it announced earlier this month. The cuts come as the retailer grapples with slowing online sales growth and braces for a possible recession affecting the spending power of its customers. The eliminations started last ...

  Bloomberg Electrolux AB fell the most in six months in Stockholm trading after the Swedish appliance product maker reported a loss that was about four times bigger than estimated. The Stockholm-based company expects a fourth-quarter operating loss of about 2 billion kronor ($190 million), according to a statement. That compares with an average loss estimate of 575 million kronor ...

Bloomberg Aritzia Inc is winning over American teens and 20-somethings with a playbook that looks out of step with today’s often bleak retail environment. The company offers high-touch service, including personal shoppers. Discounts are rare. And it’s making locations bigger instead of shrinking them. “The stores are beautiful, and the service is excellent,” said Mark Petrie, analyst at CIBC World ...

  Bloomberg German discounters Lidl and Aldi raised prices more sharply than other supermarkets in the UK last month as food inflation spreads to every area of grocery. Shoppers at Lidl saw their bills rise by 21.1% last month versus a year earlier and Aldi was close behind with a 20.8% increase, according to a report from Which, a consumer ...