Retail

Bloomberg Kellogg Co.’s home market remains a challenge. The company posted second-quarter sales and profit that topped analysts’ estimates and raised its revenue forecast for the year. But struggles to ignite growth in its US cereal and snacks businesses damped investor enthusiasm. The shares fell as much as percent 3.8 percent to $66.79, the biggest intraday decline in three months. ...

Bloomberg Synchrony Financial lost out to Capital One Financial Corp. for a credit-card contract with retail giant Walmart Inc. Now, the company is poised to defend its turf for a Walmart subsidiary. Capital One is interested in examining the Sam’s Club portfolio currently held by Synchrony, according to people familiar with the situation, who asked not to be identified because ...

Bloomberg Fired Toys ‘R’ Us Inc. workers took their travails to Congress to press for changes in the way private equity deals are structured. Potential US presidential candidates Kirsten Gillibrand and Cory Booker, and Minority Leader Chuck Schumer were among Democratic senators who met with former staff members and workers’ rights groups. The ex-employees are asking for new leverage limits ...

Bloomberg Lotte Group, reeling from a wave of anti-Korean sentiment in China for more than a year, is considering selling some of its department stores in the country, a move that would accelerate the conglomerate’s withdrawal from the world’s second-largest economy. The sale of some of Lotte Shopping Co.’s five malls is among options being reviewed in the country, a ...

Bloomberg Amazon.com Inc. investors have traditionally given it a pass on money-losing quarters and narrow profit margins so long as revenue growth kept surpassing expectations. That dynamic flipped, propelling the 24-year-old company into a potentially steadier phase. Amazon reported a record second-quarter profit of $2.53 billion, or $5.07 per share. The Seattle-based company has generated net income of $4.16 billion ...

Bloomberg L’Oreal SA posted disappointing sales of mass-market cosmetics, triggering a slide in the share price even as buoyant Chinese demand lifted revenue from high-end products. The French beauty conglomerate’s sales of consumer brands such as Maybelline rose at a less-than-stellar pace of 2.3 percent in the second quarter, the company said. While L’Oreal turned in a much stronger performance ...

Bloomberg Lululemon Athletica Inc. has named Calvin McDonald to lead the surging yogawear brand as it looks to rehabilitate its culture and expand its international presence. McDonald, a 46-year-old native of Canada who most recently served as a top executive at makeup chain Sephora, steps into the CEO role vacated by Laurent Potdevin, Lululemon said in a statement. Potdevin departed ...

Bloomberg Ivanka Trump, the president’s daughter, is pulling the plug on Ivanka Trump, the purveyor of womens’ fashion. After a year and a half of sporadic controversy over potential conflicts of interest, Trump, a White House adviser, said that she would wind down the company. She made the decision after some big-name department stores dropped her brand, but said in ...

Bloomberg Walmart Inc.’s employees have adopted money-management tools from Even Responsible Finance Inc. at a faster pace than anticipated, prompting a fresh round of funding to expand the fintech startup. More than 200,000 Walmart employees in the US use Even’s app to manage their finances or access their wages early, the Oakland-based startup said, and almost half of that group ...

Bloomberg Switzerland’s Lindt & Spruengli AG plans $200 million US investment offensive to further challenge Hershey Co. and Mars in that market. The maker of Lindor chocolate balls is expanding a plant in Stratham, New Hampshire, over the next four years, constructing high-tech production lines for premium chocolate, the company said. The site will eventually have more than 1 million ...