Retail

Bloomberg Kroger Co. is bringing self-driving grocery delivery to Arizona. The largest grocery chain in the US will start delivering groceries in autonomous-capable Toyota Prius cars at a Fry’s Food Stores location it owns in Scottsdale. To start, there will be a driver in the vehicle, though the second phase of the test — slated to begin late next month …

Bloomberg Tapestry Inc. wants its handbags and boots to conquer Asia. The house of fashion brands, which owns Coach, Kate Spade and Stuart Weitzman, has taken measures to gain more control over its business in the booming region, where in some cases it didn’t own the local operations that distribute and sell the products. Tapestry has signed purchase agreements to …

Bloomberg Cerberus Capital Management is among parties holding talks to acquire a stake in Swissport Group as embattled Chinese conglomerate HNA Group Co. weighs options for the airport luggage handler, people with knowledge of the matter said. HNA is working with advisers to explore possibilities for Swissport including the sale of a majority stake in the business, according to the …

Bloomberg Holly Golightly take cover: Tiffany & Co. is renovating its 10-floor New York City flagship store on Fifth Avenue. The jeweller plans to spend as much as 2 percent of its worldwide net sales on the renovation over the next three fiscal years, which could peg the total cost at as much as $250 million, according to Bloomberg calculations …

Bloomberg Carrefour SA may circumvent Brazil’s bankers in favour of mom-and-pop investors when it returns to markets next year. The grocer’s Brazilian unit, Atacadao Distribuicao Comercio e Industria Ltda, is considering issuing local bonds for retail investors as it explores alternatives to a “concentrated banking system” and the high fees the banks charge, Chief Financial Officer Sebastien Durchon said in …

Bloomberg “Retail is not dead”, Telsey Advisory Group said. One day before second-quarter earnings season kicks into gear in earnest, it’s clear investors agree. The latest quarterly results are expected to outshine first quarter disappointments that were hurt by lousy weather. The SPDR S&P Retail ETF has risen 13 percent year to date to a record high, more than double …

Bloomberg Sports Direct International Plc says it will continue to operate most of House of Fraser Ltd.’s 59 UK and Ireland department stores after rescuing the chain from near collapse. “Our aim is to keep at least 80 percent of the stores open,” Liam Rowley, Sports Direct’s head of strategic investments, said on Tuesday in an interview on Bloomberg TV …

Bloomberg Don Quijote Holdings Co.’s chief is interested in buying the Seiyu retail chain if Walmart Inc. is selling its Japanese operations. The Japanese discount store operator would take a serious look at Seiyu if Walmart puts it up for sale, according to comments made by Chief Executive Officer Koji Ohara at a briefing in Tokyo. He added that real …

Bloomberg Standard Chartered Plc and Commerzbank AG are among companies targeted by investors suing Steinhoff International Holdings NV to recover as much as 12 billion euros ($13.8 billion) they claim they lost because of accounting irregularities at the retail giant. The suit was filed in Johannesburg and seeks class-action status to cover shareholders who bought Steinhoff stock from June 26, …

Bloomberg VF Corp. plans to spin off its Lee and Wrangler jeans business to focus on faster-growing outdoor products and active wear such as its North Face and Vans brands. The spinoff to shareholders should be completed in the first half of next year, Greensboro, North Carolina-based VF said in a statement. The jeans business, which has yet to be …