Retail

Bloomberg Shoprite Holdings Ltd. full-year earnings rose 12 percent, in line with analyst estimates, as Africa’s largest food retailer boosted market share in its home market of South Africa and continued to expand elsewhere in the continent. Headline earnings per share, which exclude one-time items, were 10.07 rand a share in the 12 months through June, the Cape Town-based company …

Reuters Turkish discount retailer Sok is planning an initial public offering in 2018, two sources familiar with the matter told Reuters, the latest sign that Turkey’s IPO market may be coming back to life. Sok, with more than 4,700 stores and 21,000 employees, is one of Turkey’s biggest discount retailers, selling groceries, fresh produce and household items. It is 39 …

Bloomberg Estee Lauder Cos., the seven-decade-old cosmetics company, is getting a payoff from its push to acquire hipper brands and expand its e-commerce business. The shares jumped as much as 8.1 percent, the most since November 2015, after the beauty company forecast annual profit that exceeded Wall Street expectations. Beyond the boost from its new brands, Estee Lauder also cited …

Bloomberg Jack Ma is ahead of Jeff Bezos in one area: grocery stores. For years, it looked to some like Ma’s Alibaba Group Holding Ltd. was simply following in the footsteps of Bezos’ Amazon.com Inc., the world’s largest e-commerce company. Just like Seattle-based Amazon, China’s online shopping giant started a cloud-computing business and created original entertainment content. But when Amazon’s …

Bloomberg Target Corp. delivered another sign that its comeback is taking hold as stronger online sales helped brighten the retailer’s outlook. Second-quarter sales topped analysts’ estimates, and the company boosted its forecast for the rest of the year. That helped soothe investors after a rocky earnings season for retailers, sending Target shares up as much as 4.9 percent. The results …

Bloomberg Jason Wright wanted to make a quick buck selling eclipse-viewing glasses on Amazon.com Inc. before the moon blocks the sun in a rarely seen cosmic spectacle next week. He loaded up his credit cards to buy thousands of pairs from a manufacturer, enlisted family and friends to pack and ship them from his parents’ Salt Lake City home and …

Bloomberg US President Donald Trump once again unloaded on Amazon.com Inc., tweeting that the company is hurting other retailers and implying that it’s killing industry jobs across the US. Amazon is causing “great damage to tax paying retailers,” Trump said in a Twitter post Wednesday, causing shares in the online retailer to fall as much as 1.2 percent in early …

Bloomberg A common complaint heard on the streets of Reykjavik—apart from the weather—is about prices. A standard burger will set you back as much as $20, while branded sneakers cost double what they sell for in the US. That’s about to change. Nearly eight years after McDonald’s pulled out of Iceland due to spiraling costs, international retail giants are now …

Bloomberg US retail sales advanced in July by the most this year, with widespread gains from department stores to building materials outlets that signal a robust start to consumer spending in the third quarter, according to Commerce Department figures released Tuesday. Overall sales climbed 0.6% (est. 0.3% gain) after 0.3% advance in prior month. Sales excluding autos and gasoline rose …

Bloomberg Coveralls and painter’s pants are trouncing haute couture. As teen fashion and menswear all struggle to maintain sales growth, one segment of the apparel business is showing surprising strength this year: industrial workwear. VF Corp.’s $820 million acquisition of Dickies parent Williamson-Dickie Manufacturing Co., which also makes hospital garments, is the latest sign of health in the $30 billion …