Retail

Bloomberg Obuv Rossii, a Russian shoe retailer backed by billionaire Brooklyn Nets owner Mikhail Prokhorov, is seeking to raise as much as $120 million in an initial public offering, according to a person familiar with the matter. The company may offer a stake of as much as 40 percent on the Moscow Exchange in October and use the proceeds to …

Bloomberg Shoppers Stop Ltd.’s shares surged as much as 20 percent after forging a deal with Amazon.com Inc. that will help the Indian retailer boost revenue and add 25 percent more stores. Shoppers Stop will raise $28 million selling a 5 percent stake to Amazon.Com NV Investment Holdings LLC, the Mumbai-based company said. It also agreed with Amazon’s local unit …

Bloomberg L’Oreal SA shares surged the most in seven years on speculation that the death of the founding family’s matriarch, Liliane Bettencourt, could clear up the cosmetics maker’s ownership through a takeover or a buyback. Bettencourt’s death raises questions about the stake Nestle SA has held in the French company for more than four decades. Her passing makes it more …

Bloomberg Amazon.com Inc. may soon bring Shake Shack burgers and Chipotle burritos to your door as it pushes deeper into the growing market for restaurant delivery. The e-commerce titan has been working to crack the code on food delivery for at least a decade. Now that Amazon has a major toehold in the grocery industry following its $13.7 billion acquisition …

Bloomberg UK retail sales rose in August at their fastest pace in four months, providing further evidence of a tentative pickup in consumer spending. The quantity of goods sold in stores and online increased 1 percent from July, as did sales excluding auto fuel, the Office for National Statistics said. The increase far exceeded the median forecast of economists and …

Bloomberg It’s mere weeks to the festival of Diwali, the season of lavish, reckless consumption, and in a cavernous warehouse minutes from the Hyderabad airport, hundreds of workers are furiously sorting mountains of everyday items. There are sunglasses and shaving creams, sewing machines, vegetable slicers and microwave ovens, all lined up by Amazon.com Inc. to sate the shopping frenzy that’s …

Bloomberg Dani Reiss, who runs Canada Goose Holdings Inc., used to be so anti-logo that he would cut the little crocodiles off his Lacoste shirts. A prominent North Pole crest is emblazoned on the shoulder of each parka his company makes, enhancing their cache with consumers as Amazon.com Inc.’s shadow looms large over the traditional retail landscape. “I didn’t like …

Bloomberg Struggling retail companies across the US are shuttering their stores and declaring bankruptcy —again. Of at least 10 merchants to file for Chapter 11 protection from creditors in the past year, four are taking the trip to bankruptcy court for the second time in as many years. While the ins-and-outs of bankruptcy are inscrutable to the average customer, at …

Bloomberg Burberry Group Plc is betting on growth in handbags and playing up its trademark check as new Chief Executive Officer Marco Gobbetti seeks to join the luxury industry’s turnaround. At its first major runway show since Gobbetti took over in July, the trenchcoat maker showed off reversible tote bags decked out in its tartan plaid, including a £1,490 ($2,025) …

Bloomberg Swatch Group AG Chief Executive Officer Nick Hayek forecast sales growth to accelerate through the rest of the year as wholesalers stock up on watches and local demand for timepieces improves in markets from China to Switzerland and France. A stronger euro also should boost profitability at the maker of Omega and Breguet timepieces, Hayek said. “We’ve seen the …