Retail

Bloomberg Billionaire Mike Ashley said he and his Sports Direct International Plc were “stabbed in the back by shareholders” who failed to support former Chairman Keith Hellawell. Hellawell resigned this week at the company’s annual meeting after proxy firm Glass Lewis accused the board of “poor governance” and urged shareholders to vote against his re-election. The company has long been ...

Bloomberg Hermes International reported record first-half profitability as the maker of $10,000-plus Birkin handbags benefited from brisk sales in China, a trend that shows no sign of easing off even as stock prices slump in the Asian nation. Recurring operating income amounted to 34.5 percent of sales, up 0.2 point, the Paris-based company said in a statement. Analysts predicted 34.4 ...

Bloomberg Schools, hospitals and governments have quickly embraced Amazon.com Inc. as a go-to source for supplies, propelling the company’s three-year-old business platform into a $10 billion annual enterprise. Its success may soon provide as much revenue as the Amazon Web Services cloud-computing division and its digital-advertising services. The e-commerce giant likely will keep expanding the business service internationally — currently ...

Bloomberg Amazon.com said sales from its business-to-business platform hit an annualised rate of $10 billion globally as it adapted its online retail operations for consumers into an international enterprise serving offices, hospitals and factories. The Seattle-based internet giant launched Amazon Business in the US in 2015 and reached $1 billion in sales a year later. It now operates in eight ...

Bloomberg China’s Anta Sports Products Ltd. is gearing up for the Beijing Winter Olympics four years from now with a 4.7 billion-euro ($5.5 billion) approach for one of the world’s biggest makers of ski equipment. Amer Sports Oyj of Finland, which owns the Atomic and Salomon brands, confirmed a Bloomberg News report that it has received takeover interest from an ...

Bloomberg Walmart Inc., pinched by the worsening shortage of truckers, plans to double its spending on attracting and retaining drivers by year-end. The retailer, whose private fleet of 6,500 trucks is one of the largest in the nation, will offer referral bonuses of up to $1,500, shorten the on-boarding process for new hires by more than a month and broadcast ...

Bloomberg India’s booming e-commerce industry just got an ally: the first cargo service by a commercial airline. SpiceJet Ltd. is starting a dedicated freighter business to ship goods from consumer electronics to apparel and fresh farm produce as an increasing number of online shoppers visiting Amazon.com Inc. to Flipkart Online Services Pvt. demand same- or next-day deliveries. The carrier will ...

Bloomberg Shares of Associated British Foods Plc, owner of the Primark clothing chain, fell after the company predicted a decline in comparable sales at the retailer. Primark’s like-for-like sales will decline by 2 percent this year, the company said on Monday, citing Europe’s unusually hot summer weather. The apparel stores are expected to post gains overall, but that’s only because ...

Bloomberg With Amazon.com Inc. hitting a trillion-dollar valuation earlier this week, the company’s shadow looms over the entire retail industry. But there are still sizable gaps that Amazon and other online giants don’t address, and that’s where Peter Price looks to build a business. The 78-year-old entrepreneur is seeking out mom-and-pop shops — like the local butcher, toy store or ...

Bloomberg Burberry Group Plc will stop destroying unsold products and using animal fur as it works to placate investors and compete with leading luxury brands that are racing to clean up their images with new commitments on sustainability and ethics. Top-end fashion brands have long preferred to burn some unsold items or bury them in landfill rather than risk their ...