Retail

Bloomberg Shoprite Holdings Ltd. has been found guilty of reckless lending after a South African regulator ruled that the continent’s largest supermarket chain hasn’t been properly assessing shoppers before extending credit. The retailer was fined 1 million rand ($77,425), the National Credit Regulator said in an emailed statement on Wednesday. Among other discrepancies, the Cape Town-based company took into account …

Bloomberg Shoprite Holdings Ltd. shareholders voted in favor of the purchase of about 1.75 billion rand ($135 million) of shares from former Chief Executive Officer Whitey Basson, enabling Africa’s largest food retailer to buy at a discount to the current share price. The decision enables the Cape Town-based company to buy 8.68 million shares from Basson at 201.01 rand a …

Bloomberg Dollar General Corp. is feeling the pressure as grocery competition heats up. Shares of the dollar-store chain fell the most in more than two months after it reported a tighter gross margin in the second quarter. Deeper discounts and steeper pay for managers contributed to the profit squeeze. The company also is grappling with rising occupancy costs and a …

Bloomberg Best Buy Co. is bringing its same-day delivery service to more than a dozen new cities as the biggest US consumer-electronics retailer tries to keep pace with Amazon.com Inc. Starting September 6, the service will expand from 13 to 27 cities, including San Diego, Charlotte, Denver and Best Buy’s hometown region of Minneapolis/St. Paul, according to a company blog …

Bloomberg Jeff Bezos will have to trade in his potato peeler for a meat cleaver if he wants to fight a price war with Wal-Mart Stores Inc., his biggest grocery competitor. Despite price reductions on kale, bananas and more after Amazon.com Inc. officially took control of Whole Foods recently, the grocer has long touted the superior quality of its food …

Bloomberg In Mike Ashley’s last court case, we found out what an evening in the pub with him was like. Now, we might pick up a few tips on his golf game. Ashley, the billionaire owner of Sports Direct, sued his ‘trusted friend” and former co-owner of Charlton Athletic Football Club, saying he lured him into a fraudulent 3 million-pound …

Bloomberg Thailand has seen an explosion of internet shopping in recent years as consumers become more tech savvy. And if that’s anything to go by, e-commerce in Southeast Asia is taking off as well. Online retail sales in Thailand of everything from washing machines and televisions to fish sauce are growing more than 100 percent, far outpacing purchases made at …

Bloomberg UK online grocer Ocado Group Plc is teaming up with Amazon.com Inc. to let shoppers top up their baskets using the US e-commerce giant’s voice-recognition system. The Hatfield, England-based company has developed an app for Amazon’s Alexa that allows customers to add items to their digital shopping lists, keep track of orders and ask for product recommendations simply by …

Bloomberg Coty Inc. tumbled the most since going public four years ago after its quarterly financial report signaled the integration of dozens of beauty brands it bought from Procter & Gamble Co. is still proving to be a challenge. Excluding some items, earnings per share broke even in the fourth quarter that ended June 30, the company said. That missed …

Bloomberg Amazon.com Inc. spent its first day as the owner of a brick-and-mortar grocery chain cutting prices at Whole Foods Market. At the Whole Foods on 57th Street in Manhattan, organic fuji apples were marked down to $1.99 a pound from $3.49 a pound; organic avocados went to $1.99 each from $2.79; organic rotisserie chicken fell to $9.99 each from …