Retail

Bloomberg Starbucks Corp. is giving Nestle SA a shot at revitalising its global coffee business. In the third-biggest transaction in Nestle’s 152-year history, the Swiss food giant will spend $7.15 billion for the right to market Starbucks-branded products from beans to capsules, marrying its international distribution network with the allure of arguably the biggest name in java. Nestle won’t get …

Bloomberg Africa’s leading online shopping platform, Jumia, wants to make Egypt its biggest market on the continent, and it’s turning to an unexpected corner for help: the country’s vast network of unlicensed vendors. Often touted as Africa’s answer to online retail giant Amazon, Jumia wants 10-fold growth in revenue from Egypt and six-fold growth in the number of products offered …

Bloomberg Purple Carrot, the meal-kit company that partnered with Tom Brady to create the quarterback’s TB12 line of food, is getting a boost from the fruit and vegetable giant Fresh Del Monte Produce Inc. Del Monte, which generates more than 40 percent of its revenue selling bananas, is investing $4 million in the Needham, Massachusetts-based startup. The deal gives Purple …

Bloomberg Nestle SA is close to a deal for parts of Starbucks Corp.’s business that sells coffee beans and drinks in supermarkets, according to a person familiar with the situation. An agreement was expected to be announced on Monday, according to the person, who didn’t want to be identified as it isn’t public yet. Terms were not immediately available. The …

Bloomberg Estee Lauder Cos. Chief Executive Officer Fabrizio Freda apologized for false ad claims on certain cosmetics and said a comprehensive review is under way. “We recently learned that some testing related to certain products advertising claims had been intentionally altered for some time by a small group of employees,” Freda said on a conference call with analysts. “This clearly …

Bloomberg Amazon.com Inc. is offering to pass along the discounts it gets on credit-card fees to other retailers if they use its online payments service, according to people with knowledge of the matter, in a new threat to PayPal Holdings Inc. and card-issuing banks. The move shows Amazon is willing to sacrifice the profitability of its payments system to spread …

Bloomberg Hennes & Mauritz AB Chairman Stefan Persson may be single-handedly propping up shares in the Swedish fashion retailer. In April alone, the billionaire acquired about 18.2 million shares in Stockholm-based H&M for $278 million, bringing the value of purchases since the beginning of last year to 13.4 billion kronor. The transactions mean that Persson and his family now hold …

Bloomberg Tapestry Inc., the company formerly known as Coach, is running into big hurdles in its quest to win back shoppers. Same-store sales at Tapestry’s Kate Spade brand missed analysts’ estimates in the latest quarter, while production delays and other problems at the Stuart Weitzman brand were a drag as well. Same-store sales for the Coach brand, its biggest business, …

Bloomberg A new mobile app and marketing push weren’t enough to energise sales at Yum China Holdings Inc.’s Pizza Hut in the latest quarter. Systemwide, same-store sales missed analysts’ estimates, rising 3 percent compared with a projection for 3.3 percent growth. The disappointing results sent the company’s shares down as much as 10 percent in late trading in New York. …

Bloomberg For Prologis Inc., the world’s largest warehouse owner, the biggest challenge to growth has been acquiring land in the markets most important to its e-commerce tenants. The solution: buy a rival. The real estate investment trust agreed to acquire DCT Industrial Trust Inc. for $8.4 billion in stock and assumed debt. REITs that lease out space at warehouses and …