Retail

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 ...

Bloomberg Reed Krakoff, the designer who catapulted Coach to fashion prominence, and made it a $5 billion handbag Goliath, has officially traded in his leather for diamonds. Hired by Tiffany & Co. last year as chief artistic director, he was brought in to overhaul the iconic jewelry brand’s design, attract younger shoppers and reverse an extended sales slump. On Tuesday, ...

Bloomberg Walmart Inc.’s plan to shed control of its UK grocery chain, Asda, reflects a global strategy to emphasize faster-growing markets over some of its more mature ones. The world’s largest retailer said that Asda will combine with British retailer J Sainsbury Plc, mixing the UK’s second-biggest supermarket chain with No. 3 Asda in a deal worth about $10 billion. ...

Bloomberg Lotte Group’s retail unit is selling 22 of its stores in Beijing to China-based grocer and hypermarket rival Wumei Holdings Inc. for 256 billion won ($237 million), the Chosun Ilbo newspaper reported, without saying where it got the information. Lotte Shopping Co. has taken a sales hit in China over the past year after the group provided land for ...

Bloomberg EBay Inc. gave a disappointing forecast for revenue growth in the second quarter, taking the shine off Chief Executive Officer Devin Wenig’s turnaround strategy. The online marketplace said sales will be $2.64 billion to $2.68 billion in the second quarter, while analysts were projecting $2.68 billion. The outlook stirred concerns about the company’s ability to return to consistent growth ...

Bloomberg Steinhoff International Holdings NV ex-Chairman Christo Wiese is suing the scandal-hit retailer for $4.8 billion as the South African billionaire seeks to recoup investments he made in the company in 2015 and 2016. The retail tycoon was the biggest shareholder in the owner of Conforama in France and Mattress Firm in the US when the company reported a hole ...