Retail

Bloomberg The demise of Toys ‘R’ Us in the US has left billions of dollars in sales up for grabs, and Party City Holdco Inc. is going after that gaping hole. Party City plans to operate 50 pop-up toy stores from September through the holiday-shopping season, possibly in former locations of the defunct chain, executives said. The assortment will include …

Bloomberg KKR & Co.’s leveraged buyout of Toys ‘R’ Us is coming under scrutiny by state pension funds that are questioning the private equity firm’s role in the bankruptcy of the world’s largest toy retailer. The Minnesota State Board of Investment decided to temporarily halt future commitments to KKR as it reviews the investment, while the Washington State Investment Board …

Bloomberg Chanel Ltd., known for No. 5 perfume, little black dresses and financial secrecy, opened its books for the first time to reveal almost $10 billion in sales last year — a level that rivals luxury leader Louis Vuitton. It also reveals a vastly larger fortune for the two brothers that own the luxury giant than prior estimates. Alain and …

Bloomberg Conagra Brands Inc. has approached Pinnacle Foods Inc. about a potential deal that would add popular freezer-aisle brands to its roster at a time when frozen-food sales are booming, according to people familiar with the matter. The rival food manufacturers have had contact in recent weeks, said the people, who asked not to be identified as the details aren’t …

Bloomberg As the largest US retail bookseller tries to enact a turnaround, some investors may be losing their patience. Barnes & Noble Inc., which saw same-store sales drop 5.4 percent in the latest year, said it’s expecting that measure to improve this year. Double-digit declines in gifts, music and movies drove also down comparable sales in the fourth quarter ended …

Bloomberg Naspers Ltd. has put aside the proceeds of share sales in Chinese internet giant Tencent Holdings Ltd. and India’s Flipkart to pay for new investments due to the abundance of opportunities in its preferred media and technology markets. Africa’s biggest company by market value raised $9.8 billion in March by selling a 2 percent stake in Tencent — its …

Bloomberg The US Supreme Court freed states and local governments to start collecting billions of dollars in new sales taxes from online retailers, overturning a ruling that had made much of the internet a tax-free zone and put traditional retailers at a disadvantage. News of the ruling caused shares of Internet retailers including Amazon.com Inc. and Wayfair Inc. to fall. …

Bloomberg Tesco Plc racked up its 10th consecutive quarter of growth and cut prices in a pre-emptive strike against rivals preparing to challenge its role as the UK’s largest retailer. The supermarket operator has lowered prices on its own-brand meat, fruit and vegetables, countering reductions promised by J Sainsbury Plc as part of its planned acquisition of Walmart Inc.’s Asda …

Bloomberg Kering tapped an unknown designer who worked at luxury rival LVMH’s Celine to revamp the Italian handbag-maker Bottega Veneta. The 32-year-old British designer Daniel Lee will take over as creative director of the French luxury company’s third-largest brand in July. He’s succeeding Tomas Maier, the German designer who built Bottega Veneta into a $1.5 billion business but one whose …

Bloomberg Kraft Heinz Co. is considering a sale of children’s milk drink brand Complan in India, which could fetch about $1 billion, people familiar with the matter said. Kraft Heinz is working with an adviser to gauge interest in the business, according to the people, who asked not to be identified because the matter isn’t public. The brand could attract …