Retail

Bloomberg JAB Holding Co.’s audacious effort to build a food-and-beverage empire, which already includes Krispy Kreme Doughnuts and Caribou Coffee, has taken a surprise turn into soft drinks. The investment firm’s Keurig Green Mountain Inc. business, known for its single-serve coffee brewers, agreed to take control of Dr Pepper Snapple Group Inc. The deal will pay $18.7 billion in cash …

Bloomberg Steinhoff International Holdings NV said it has secured enough money to keep its businesses running in the immediate term and can now start talks with a broader group of creditors. The troubled South African retail group has arranged new credit lines for units in the UK, US and France as well as agreeing a restructuring of its Austrian division, …

Bloomberg JD.com Inc. is preparing to make its US debut with a beachhead in Los Angeles, seeking to best arch-rival Alibaba and challenge Amazon.com Inc. on its home turf. The $68 billion company, which said in December 2017 it’ll start online sales in the US by the second half of 2018, is now seeking funds to bankroll a logistics build-up …

Bloomberg Wal-Mart Stores Inc. has forged another alliance to counter Amazon.com Inc., partnering with Japan’s Rakuten Inc. to sell e-books in the US and improve its online grocery business in Asia’s second-largest economy. The collaboration will bring Rakuten’s Kobo device and e-book catalog to Walmart’s US stores later this year, the companies said in a statement. The partnership also includes …

Bloomberg Asos Plc’s domestic sales growth rebounded over the holidays as the UK’s largest online-only fashion retailer profited at the expense of store-based rivals. Sales in the UK, Asos’s largest market, rose 23 percent to $429 million in the four months ended on December 31, the London-based company said. The shares rose as much as 1.3 percent, recouping early losses. …

Bloomberg Walmart Stores Inc. is cutting as many as 1,000 jobs at its headquarters this year and next, the latest effort to streamline a retail empire under threat from Amazon.com Inc. The first wave of layoffs totalled between 400 and 500 jobs and hit the company’s marketing, human resources, merchandising, real estate and other divisions this week, the Bentonville, Arkansas-based …

Bloomberg Retailers are so worried about fraudulent purchases online, many say they’re rejecting legitimate transactions out of fear that they may be fake. Sixty-seven percent of retailers have online security measures that are quick to cancel any transaction that raises suspicion, according to a survey by Experian, a global information-services company. When gauging all businesses that figure rises to 71 …

BLoomberg Tesco Plc and J Sainsbury Plc, the United Kingdom’s biggest grocers, are cutting thousands of management positions as intense competition and wage increases heap more pressure on Britain’s beleaguered retailers. Sainsbury is cutting management roles across its convenience stores and supermarkets, the London-based retailer said. That followed an announcement from larger rival Tesco, which is scrapping 1,700 management jobs …

Bloomberg India will witness about 10 foreign single-brand retailers starting operations after PM Narendra Modi removed the need for a federal approval, a senior minister said. The companies which have sought government permission to set up single-brand establishments include Fast Retailing Co., operator of Japanese casual-wear brand Uniqlo. It had submitted an application in November in 2017. Tesla Inc. is …

Bloomberg Tencent Holdings Ltd. plans to invest in Carrefour SA’s China unit, following Alibaba Group Holding Ltd.’s footsteps to uproot traditional grocery and department stores with technology. The social media giant, along with local retailer Yonghui Superstores, agreed to take a stake in Carrefour China, the companies said. They plan to work together on data, retail, mobile payments and data …