Retail

Bloomberg British retailers suffered their biggest sales decline since 2008 last month as two snowstorms dubbed the “beasts from the east” kept shoppers at home. Comparable sales in midmarket stores dropped 10.1 percent in March, the second-worst month on record, business advisory firm BDO LLP said in its monthly report. Several days of subzero temperatures and extraordinary snowfall disrupted Britain’s ...

Bloomberg Nine West Holdings Inc. filed for bankruptcy with a plan to sell some assets and reorganise others, after too much debt felled the shoe and clothing company controlled by Sycamore Partners. The Chapter 11 filing in New York listing debts of more than $1 billion. The company will use the bankruptcy to sell its Nine West and Bandolino brand ...

Bloomberg SM Prime Holdings, the largest Philippine shopping mall developer, will build Ikea’s first store in the country within its retail complex, with plans for an arrangement with the Swedish furniture company at its other properties. The store will be built within SM Prime’s Mall of Asia complex in Manila, located between its convention centre and sports arena, Alex Pomento, ...

Bloomberg PT Mitra Adiperkasa, the Indonesian operator of global brands including Starbucks, Zara as well as Marks & Spencer, is predicting that a recovery in consumer spending will sustain its highest revenue growth in three years. The retailer forecasts a revenue increase of 15 percent for a second year as consumers splurge more on Inditex SA’s Zara-branded clothes and Tumi ...

Bloomberg Hershey Co. is spending $500 million in the hopes of producing its iconic chocolate Kisses from more sustainable cocoa. Through its so-called Cocoa for Good programme, the company will invest the funds through 2030 to support four key areas: nourishing children, empowering youth, building prosperous communities and preserving natural ecosystems. The initiative’s goals include eliminating child labor and increasing ...

Bloomberg Taco Bell, increasingly focussed on global growth amid a saturated US market, is expanding Down Under. In November, the chain opened its first Australian restaurant in Brisbane, and it has exceeded management’s expectations, said Liz Williams, president of Taco Bell International. Sales are several million dollars higher than a typical unit, she said, declining to provide specifics. Now, Taco ...

Bloomberg Amazon.com Inc. fell on April 2 after a fresh round of critical comments from President Donald Trump and a Republican senator. In his latest Twitter rant, Trump said “Only fools, or worse, are saying that our money losing Post Office makes money with Amazon. THEY LOSE A FORTUNE, and this will be changed. Also, our fully tax paying retailers ...

Bloomberg Casino Guichard Perrachon SA and Auchan Retail are in exclusive talks to form a global purchasing alliance to help them negotiate better prices as competition in the French grocery market increases. The partnership would cover major national and international consumer-goods makers, the companies said in a statement. They expect it would help fuel the development of French suppliers abroad ...

Bloomberg Walmart Inc. is in early talks about a deal for closely held PillPack, an online startup that could help grow the retail giant’s pharmacy offerings, according to people familiar with the situation. PillPack and Walmart declined to comment. CNBC first reported the talks, and said the price being discussed was less than $1 billion. It’s not clear if the ...

Bloomberg From Ralph Lauren to Calvin Klein, America’s biggest fashion labels are pinning their hopes on a blue jean revival. Across the industry, fashion brands are renewing their focus on denim, betting the wardrobe staple can be a major sales driver as jeans battle stretchy pants for supremacy from the waist down. The jeanmaking industry has been just as distressed ...