Retail

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 ...

Bloomberg Alibaba Group Holding Ltd. is leading the purchase of 10 percent of Chinese delivery service ZTO Express (Cayman) Inc. for $1.38 billion, a deal that’ll augment the e-commerce giant’s ability to ship packages around the globe. The Alibaba-led investor group includes its own logistics arm Cainiao, the company said in a statement that didn’t specify other buyers. Under an ...

Bloomberg Gucci’s brand is worth more than ever—thanks in part to young, spendthrift shoppers in China eager to shell out everything they earn on $2,900 velvet clutches or $1,400 crystal-studded sunglasses. The value of Gucci’s label jumped a whopping 66 percent, to $22.4 billion, in 2018, according to a report by Kantar Millward Brown. It helped that the Italian fashion ...

Emirates Business DHL Express, the world’s leading express logistics provider, has signed a strategic partnership for the Egyptian football superstar Mohamed Salah to become its brand ambassador for Middle East and North Africa (MENA) region for the next two years. The partnership is a testament to the synergy of core values DHL Express and Mohamed Salah share; leadership, commitment, teamwork, ...

Bloomberg JAB Holding Co. agreed to buy sandwich chain Pret A Manger, adding a UK business to its portfolio of coffee and food brands that includes Panera Bread Co. and Au Bon Pain. JAB and the seller, private equity firm Bridgepoint Advisers Ltd., didn’t disclose the terms of the deal in a statement. The price is about $2 billion, including ...