Retail

Bloomberg The world’s biggest furniture retailer is figuring out how to pursue ambitious climate goals without losing out economically. Ikea, the Swedish company known for making smart, inexpensive furniture that stands little chance of becoming a family heirloom, wants people to hold on to its pieces for longer. To that end, the company intends to broaden the services it provides …

Bloomberg After surpassing Hermes, Gucci has Louis Vuitton in its sights. The Italian fashion brand, owned by Kering SA of France, aims to lift revenue to 10 billion euros ($12 billion) from last year’s 6.2 billion euros, according to an investor presentation Thursday. That would rival LVMH’s Louis Vuitton, long the biggest and most profitable name in luxury. With a …

Bloomberg The cleanup continues at Hudson’s Bay Co., the owner of Saks Fifth Avenue. The struggling Canadian retailer agreed to sell Gilt, a flash-sale, e-commerce company it bought two years ago that has become one of its worst-performing businesses. The buyer, Rue La La, announced the purchase on Monday without disclosing a price, and said it plans to run the …

Bloomberg In its rush to find a buyer earlier this year and avoid liquidation, bankrupt Toys ‘R’ Us Inc. landed on a familiar name: Sycamore Partners, according to people familiar with the matter. The private-equity firm, which had already scooped up several troubled retailers, held advanced talks with Toys ‘R’ Us about acquiring the chain and keeping open half its …

Bloomberg Aunt Bessie’s Yorhire puddings and roast potatoes, the side dishes that are part of a traditional British roast dinner, have a new owner. Nomad Foods Ltd., the frozen-foods company backed by entrepreneurs Martin E. Franklin and Noam Gottesman, has agreed to acquire British prepared foods maker Aunt Bessie’s Ltd. from owner William Jackson & Son Ltd., according to a …

Bloomberg By putting his son Antoine in charge of image and communication, Bernard Arnault is sending a powerful message: LVMH, the world’s largest luxury goods maker, needs to make room in its executive ranks for the owner’s family. Arnault sent a memo to employees on June 1 announcing Antoine’s new responsibilities, a copy of which was seen by Bloomberg News. …

Bloomberg Walmart Inc. wants to be your personal shopper — if you’re lucky enough to be invited. The world’s biggest retailer unveiled Jetblack, a concierge shopping service for busy urban families. For $50 a month, members can text their requests and receive same-day delivery from Walmart, Jet and other retailers like Saks and Sephora with gift wrapping included. The service …

Bloomberg Sears Holdings Corp. kicked off another fiscal year with declining sales from a dwindling number of stores, and more closings are on the way. The operator of Sears and Kmart stores posted a first-quarter loss of $3.93 a diluted share. Revenue fell due to fewer stores and a 12 percent drop in comparable-store sales. The Hoffman Estates, Illinois-based retailer …

Bloomberg J. Crew Group Inc. has one persistent bright spot as it tries to revive its business: Madewell. The younger, more casual brand that made its mark in denim said same-store sales, a closely watched measure, skyrocketed 31 percent in the first quarter — nearly triple the 11 percent rise the previous year. Chief Executive Officer Jim Brett is trying …

Bloomberg British consumers are feeling more upbeat about their spending prospects, though they’re still worried about the economic outlook, according to GfK. An index of confidence increased by 2 points in May to minus 7, the market-research firm said in a report published on May 31, with consumers declaring themselves more optimistic about their personal financial situation. They are still …