Retail

Bloomberg Macy’s Inc expects to report fourth-quarter sales that were weaker than previously forecast and sees continued pressure on the consumer in 2023. Net sales are now expected to be at the low end to midpoint of the previously issued range of $8.2 billion to $8.4 billion, Macy’s said. The company reiterated its previous guidance for adjusted earnings per share ...

  Bloomberg Party City Holdco Inc is laying the groundwork for a bankruptcy filing within weeks that may end with creditors taking ownership of the retailer, according to people with knowledge of the situation. The company will likely miss a coupon payment due in mid-February and could seek reprieve from its creditors to negotiate a restructuring, according to the people, ...

  Bloomberg McDonald’s Corp is accelerating new store openings to capture increased demand, while cutting corporate jobs as it winds down other priorities. The fast-food company warned that it would be eliminating certain initiatives to help it “move faster,” according to an emailed statement. McDonald’s also said it would be making job cuts that would be final by April 3. ...

  Bloomberg Costco Wholesale Corp is heading for its biggest gain since March 2020 after improving December sales soothed investor concerns about a slowdown in November 2022. Excluding the impact of changes in gasoline prices, Costco’s US comparable sales climbed 6.4% last month, topping the 5% average of analyst estimates compiled by Consensus Metrix. In November, the closely followed sales ...

  Bloomberg Apple Inc has begun hiring retail store workers in India and has plans to fill other roles as the technology company prepares to open stores in the country, according to a report by the Financial Times. The company’s careers page lists several different opportunities for workers in India, including business expert, “genius,” operations expert and technical specialist. Apple’s ...

Bloomberg British shoppers defied rampant inflation and economic gloom over the holiday season, driving up sales at clothing seller Next Plc and budget retailer B&M European Value Retail SA. Whether that spending will carry into the new year, however, remains in doubt. Next raised its annual profit forecast after Christmas sales gained, helped by a December cold snap that brought ...

Bloomberg Bed Bath & Beyond has begun preparations for a bankruptcy filing that would likely come during its first operating quarter of the year, according to people with knowledge of the moves who asked not to be named discussing confidential plans. The Union, New Jersey-based company called off a proposed debt exchange and said that it might not be able ...

  Bloomberg Oatly Group AB surged after announcing it will transfer leases and production capacity at two US facilities to Canadian manufacturer Ya YA Foods Corp — a bid to fix product shortages that have plagued the Swedish oat milk maker. The $98.1 million co-packing agreement, expected to close in the first quarter, will last 10 years and is part ...

Bloomberg Amazon.com is laying off more than 18,000 employees — the biggest reduction in its history — in the latest sign that a tech-industry slump is deepening. Chief Executive Officer Andy Jassy announced the cuts, which represent about 1% of Amazon’s employees, in a memo to staff, saying it followed the company’s annual planning process. The eliminations began last year ...

  Bloomberg Wilko has secured a £40 million ($48 million) credit facility from Hilco Capital Ltd to help the UK household and garden retailer weather the cost-of-living crisis. The two-year facility is in addition to £48 million Wilko recently received from the sale and leaseback of its distribution centre, according to an emailed statement. The privately-held 92-year-old business is also ...