Retail

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 ...

Bloomberg Marks & Spencer Group Plc Chairman Archie Norman broke with convention when he arrived at the UK retailer’s London headquarters last year, turning down a private office and positioning his desk prominently out in the open. From his perch in the engine room of a once-proud British institution that’s fallen on hard times, Norman quickly started asking questions about ...

Bloomberg UK retail sales rebounded more than expected in April as the spring weather lured shoppers into stores. Sales climbed 1.6 percent from March, compared with a median estimate of a 0.9 percent gain in a Bloomberg survey. The surge was led by fuel, household goods and clothing, according to data from the Office for National Statistics in London. After ...

Bloomberg It’s hard to serve a Big Mac without the bun. A truckers’ strike in Brazil over higher diesel prices has left at least one McDonald’s in Copacabana struggling to serve its customers. The last perishable food delivery received at the restaurant was May 18, manager Yladian Barbosa told O Globo newspaper. On Wednesday alone, that meant a loss of ...

Bloomberg Samsonite International SA, the world’s largest branded-luggage maker, tumbled the most since 2012 after short-seller Blue Orca Capital questioned the company’s accounting and corporate governance. Samsonite concealed slowing growth with debt-funded acquisitions and inflated profit margins with dubious accounting linked to its takeovers, Blue Orca, founded by former Glaucus Research Group research director Soren Aandahl, alleged in a report. ...