Retail

Bloomberg The sun never sets on Walmart Inc.’s empire, thanks to its network of stores across five continents. But in the span of 10 days, chief executive Doug McMillon has begun dramatically redrawing the retailer’s map, and there’s likely more to come as it places bets to remain on top. “All of a sudden, everything is in play,” said Dave …

Bloomberg Folli Follie’s network of stores in its key Chinese market shrank by more than half last year even as its sales in Asia increased, according to the latest figures published by its parent company FF Group this week. The main brand of the Greek retailer reported 113 points of sale in mainland China in a document published and reviewed …

Bloomberg Tiger Global Management is purring all the way to the bank after Walmart Inc.’s Flipkart deal. The firm has made about $3 billion after investing $1 billion in Flipkart Group, according to a person familiar with the matter, who asked not to be named. Walmart will acquire a majority stake in India’s biggest online retailer, the companies said. For …

Bloomberg Africa’s largest company just chalked up another major investment coup. Naspers Ltd. netted a cool $1.6 billion profit from the sale of its 11 percent stake in Indian e-commerce startup Flipkart, a deal almost as lucrative as its sale of Polish online auction site Allegro in 2016. The move helps to line the pockets of the media and technology …

Bloomberg Fast Retailing Co., owner of the Uniqlo casual-wear brand, will open its first store in India next year as Asia’s largest retailer looks to tap consumers in a country with more than 1.2 billion people. The Japanese company’s opening of a New Delhi store in the autumn of 2019 has been long in the making. Tadashi Yanai, Fast Retailing’s …

Bloomberg Walmart Inc. agreed to buy a controlling stake in India’s biggest online retailer, striking a blow against rival Amazon.com Inc. as the battle for e-commerce supremacy goes global. The world’s largest retailer will acquire a 77 percent holding in Flipkart Group for $16 billion, the companies said in a statement. Flipkart co-founder Binny Bansal and other shareholders will hold …

Bloomberg JD.com Inc. reported quarterly profit that fell short of analyst expectations as the Chinese online shopping giant ramps up the construction of physical shops and warehouses amid rising competition from Alibaba Group Holding Ltd. Adjusted earnings-per-share were 11 cents in the three months ended March, missing the 0.81 yuan average of analyst estimates. While sales for the quarter rose …

Bloomberg Walmart Inc. will offer men’s grooming products from Harry’s later this month, expanding the brand’s reach beyond Target Corp. and giving Walmart a product coveted by millennials. Starting on May 21, the world’s biggest retailer will sell Harry’s goods in 2,200 of its US stores — fewer than half of the total — and online. There are plans to …

Bloomberg Thanks to Nestle SA, Starbucks Corp. just came into some serious cash. With the Swiss food giant agreeing to pay the coffee chain $7.15 billion for the right to sell Starbucks coffee products at retailers, shareholders can expect to receive their portion of the proceeds via buybacks and dividends. But the company will also funnel investment into its two …

Bloomberg Mondelez International Inc. is betting that if you pay more for a classy cookie, you’ll eat more of them. The company, which makes Oreos and Chips Ahoy — mass-market baked goods that bear scant resemblance to the products of your mom’s oven — has agreed to buy Tate’s Bake Shop for about $500 million. The fast-growing company started as …