Retail

Bloomberg Tennis great Roger Federer, long all but synonymous with Nike Inc., has parted ways with the swoosh to join Japanese casual clothing brand Uniqlo. The eight-time Wimbledon champion surprised many fans when he walked onto Centre Court for his first-round match in an outfit by Fast Retailing Co.’s Uniqlo. The Swiss star’s apparel contract with the Beaverton, Oregon-based athletic-wear …

Bloomberg One year after buying a stake in Nestle SA and watching his holding lose value, activist investor Dan Loeb is running out of patience. Loeb fired off a 34-page presentation over the weekend, demanding a far more radical transformation than the world’s largest food company has so far embraced. Accusing Nestle of a “muddled strategic approach” that threatens its …

Bloomberg Tesco Plc is forming a purchasing alliance with French retailer Carrefour SA to increase its leverage with suppliers in a consolidating and price-squeezed supermarket business. The alliance between two of Europe’s largest retailers, with combined annual sales of about $171 billion, aims to enhance the companies’ clout in buying branded goods and private-label items as competition from discounters like …

Bloomberg Trax, a Singapore-based startup serving the retail industry, raised $125 million in a funding round led by Boyu Capital as it advances plans for an initial public offering. The IPO could take place in the next 18 to 24 months and the company is already in talks with both the Nasdaq and New York Stock Exchange, CEO Joel Bar-El …

Bloomberg Amazon.com Inc. is buying its way into the heart of the US healthcare system, instantly shaking up a prescription-drug industry already in the midst of a broader transformation. Insurance companies and drug-benefit managers have struck a series of deals in recent months designed in part to thwart a potential big splash in the health world from Amazon. But the …

Bloomberg MAV Beauty Brands Inc., the personal-care company founded by celebrity hairstylist Marc Anthony Venere, raised C$242 million ($182 million) in its initial public offering, according to people familiar with the sale. The Toronto-based firm priced its shares at C$14 each, the low end of its marketed range of C$14 to C$16, the people said, asking not to be identified …

Bloomberg After several quarters on the bench, Nike Inc. has finally healed the damage inflicted by Adidas AG. Nike increased sales in North America for the first time in a year, after its smaller European rival had been outmaneuvering the sneaker giant on its home turf. Nike’s improved performance, sparked by new products and a smartphone shopping app, unleashed a …

Bloomberg Conagra Brands Inc. agreed to buy Pinnacle Foods Inc. for about $8.1 billion in cash and stock, gaining freezer-aisle brands such as Birds Eye to capitalise on growing demand for frozen foods. The deal values Pinnacle at $68 a share, the companies said in a statement. The price is 23 percent above Pinnacle’s closing level on April 19, when …

Bloomberg Steinhoff Africa Retail Ltd. shares fell after Tekkie Town head Bernard Mostert quit alongside fellow senior managers following a legal claim lodged against the retailer by the shoe chain’s founding shareholders. STAR, as Steinhoff Africa is known, has repeatedly said it shouldn’t be held liable for the claim by Tekkie Town founders led by Braam van Huyssteen, which relates …

Bloomberg Neiman Marcus Group went online for its latest management search, hiring a former Amazon.com Inc. executive to run its luxury department store Bergdorf Goodman as it refocuses efforts on growing internet sales. Darcy Penick, previously chief executive officer of Amazon subsidiary Shopbop, will be tasked with speeding up the company’s “digital transformation,” according to a statement. She will step …