Retail

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 …

Bloomberg Steinhoff Africa Retail Ltd. extended a two-day fall to more than 10 percent after the continent’s biggest clothing retailer said it won’t pay a half-year dividend and announced charges related to its scandal-hit parent company. The owner of clothing chains including Pep and Ackermans was spun off by Steinhoff International Holdings NV three months before the majority shareholder reported …

Bloomberg PepsiCo Inc. is placing another bet that American nibblers want healthier options with the purchase of baked fruit and vegetable snackmaker Bare Foods Co. The maker of Mountain Dew and Cheetos inked a deal to buy the San Francisco-based creator of products including beet chips and baked apple crisps. The terms of the deal weren’t disclosed. PepsiCo, which has …

Dubai / Emirates Business KitKat announced the launch of the first of a kind KitKat Mini Moments Desserts in the Middle East featuring four unique flavours inspired from some of the most renowned desserts in the world. The new mini chocolate bars are produced locally in the UAE with a mini portion, same indulgent taste and sourced from 100% certified …

Bloomberg With Amazon now gobbling up more than 40 percent of all online spending in the US, that’s left traditional retailers scrambling for the rest. Walmart Inc., Target Corp. and Best Buy Co. have all made big investments in recent years in e-commerce — sprucing up websites, offering more delivery options and making acquisitions like Walmart’s $16 billion deal for …

Bloomberg Best Buy Co.’s turnaround journey only gets harder from here. The retailer, which is rolling out new offerings to grab more of its customers’ spending, faces a suite of challenges: tougher year-ago comparisons, the continued encroachment of Amazon.com Inc. and the cost of launching a new tech-support program. The consumer spending boost fuelled by the recent tax cuts in …

Bloomberg Lowe’s Cos.’ incoming chief executive officer has some repair work ahead of him. Fortunately, the improving US weather makes for perfect conditions. The home-improvement chain, which named J.C. Penney Co.’s Marvin Ellison as CEO, posted profit and comparable sales that missed estimates in its first fiscal quarter as chilly weather in the US weighed on results. But activity began …