Retail

Bloomberg The looming threat of Amazon.com Inc. siphoned billions in market cap from Under Armour Inc. to FedEx Corp. to Walgreens Boots Alliance Inc.— more than $30 billion combined—in October. Companies are gearing up to face Bezos’s behemoth heading into the holiday season, with some appearing ready to get creative as the state of their industries is shaken. CVS Health ...

Bloomberg Nakumatt Holdings Ltd., East Africa’s largest retailer, is seeking a court order to enter administration as part of a plan to revive its debt-laden business. The Kenyan company will go to court on November 8 for a hearing on the application, which proposes that “business-turnaround professional” Peter Kahi of PKF Consulting Ltd. be appointed as administrator, according to a ...

Bloomberg Banks can hightail it from the UK. For retailers threatened by Brexit, it’s not so easy—they’ve got to stay put even if a disorderly departure from the European Union clogs trade routes and empties store shelves. As the UK charts an increasingly erratic course towards Brexit, retailers like Tesco Plc, J Sainsbury Plc and Next Plc that sell a ...

Bloomberg Hermes International SCA said it will open two new leather-goods production sites over the coming two years in France to meet surging demand for products that include the $10,000 Birkin handbag. One facility will be located near Bordeaux and the other will be in the Paris region, Hermes said. Each will employ about 250 workers. Increasing production is a ...

Bloomberg Shoprite Holdings Ltd. is in talks to open its first stores in Kenya by filling retail space left empty by the struggling Nakumatt Holdings Ltd. chain. “We are currently in talks with some of the property owners but nothing has been signed,” Shoprite director Gerhard Fritz said. Africa’s biggest food retailer is awaiting the outcome of merger talks between ...

Bloomberg The latest installment of Under Armour Inc.’s best-selling sneaker is expected to be late hitting stores, dealing a blow to an athletic brand that’s trying to bounce back from sputtering growth. The adult version of the shoe—known as the Curry 4—was slated to hit stores last week. But Foot Locker Inc., Dick’s Sporting Goods Inc. and Hibbett Sports Inc. ...

Bloomberg Vincom Retail JSC’s existing investors raised $709 million after pricing an initial public offering of the Vietnamese mall operator at the top end of a marketed range. Existing shareholders including Warburg Pincus and Credit Suisse Group AG priced 396.5 million shares at 40,600 dong apiece, according to terms for the deal obtained by Bloomberg. The stockholders initially offered 380.2 ...

Bloomberg Best Buy Co., the retail giant and one of Apple Inc.’s most important sales channels, is charging consumers an extra $100 for the already pricey iPhone X. Customers who began purchasing iPhone X models ahead of the November 3 release date noticed that Best Buy is charging $1,099 for base model configurations and $1,249 for models with more storage. ...

Bloomberg With its buyout plans on hold, Nordstrom Inc. is under intense pressure to find answers to the department-store slump. Key to that effort is reviving what was once a long-time bright spot for the chain: Nordstrom Rack. The discount stores had been helping the company cope with a slowdown at its full-price formats, but now they are in need ...

Bloomberg Amazon.com Inc. wants to prevent holiday shoppers from straying to Google’s YouTube and Facebook Inc.’s social-media sites in search of product videos, so the e-commerce giant is working with merchants to match the effort on its website. Pet supplies, baby products, housewares and electronics are the focus of the new push for promotional and instructional videos. Amazon this year ...