Retail

  Bloomberg Tesco Plc shares surged the most in almost two years as CEO Dave Lewis vowed to double the UK supermarket’s profit margins in the next three years, helped by an additional 1.5 billion pounds ($1.9 billion) in cost cuts and more premium items. The stock rose as much as 11 percent to 210.15 pence, the highest since August ...

  Bloomberg Starbucks Corp. said its move to put stores in low-income areas such as Ferguson, Missouri, hasn’t been a money-losing endeavour. The three locations open so far as part of the project have been profitable, said Rodney Hines, director for community investments for Starbucks’ U.S. retail operations. And the company is unveiling a fourth cafe on Wednesday on the ...

  Bloomberg Bombardier Inc. Chief Executive Officer Alain Bellemare said the marketing of the company’s marquee aircraft has been hurt by delays caused by engine supplier Pratt & Whitney. The planemaker reduced its forecast for deliveries of the C Series jetliner on Sept. 6, citing the issues at Pratt. Seven of the new aircraft are now slated to be handed ...

  Bloomberg Wal-Mart Stores Inc. is in advanced discussions to invest as much as $1 billion into India’s Flipkart Online Services Pvt. Ltd, as the two companies battle Amazon.com Inc. in e-commerce, according to a person familiar with the matter. Wal-Mart, the world’s largest retailer, would take a minority stake in Flipkart, the person said, asking not to be identified ...

  AFP Australian carrier Qantas has warned of the danger of mobile phones being crushed in reclinable plane seats and catching fire after one ignited during a US flight, according to a safety report on Wednesday. The findings came just weeks after Qantas and domestic competitor Virgin Australia, as well as other international airlines, told customers not to use or ...

  Emirates Business Theluxurycloset.com, the fast growing online marketplace that buys, sells, and consigns personal luxury goods, mostly pre-owned and at a discounted price, announced that it has closed a $7.8 million Series B round of funding. The financing was led by Wamda Capital, a venture capital firm investing in technology-enabled companies in the MENA region, and Middle East Venture ...

  Bloomberg The British division of Aldi is ramping up plans for expansion, unaffected by the shock Brexit referendum, as the German discount retailer enjoys booming demand. Aldi UK announced on Monday that it will invest £300 million ($389 million, 346 million euros) to revamp its stores over the next three years. “Future capital expenditure plans are unaffected by the ...

  Bloomberg BHS will reopen as a UK online brand this week as new owner Al Mana Group of Qatar seeks to revive the 88-year-old British retailer only months after it failed. Al Mana, which acquired the BHS brand at the time of its collapse in June, will initially sell a range of lighting and home-furnishing products on BHS.com, the ...

  Bloomberg Aritzia Inc., a Canadian women’s fashion retailer, may raise as much as C$400 million ($304 million) in its initial public offering after boosting the amount of shares being offered by 25 percent. Aritzia owners lifted the number of subordinated shares being sold to 25 million from 20mn, according to sale documents. The shares are being marketed for C$14 ...

  Paris / AFP US online retailing giant Amazon rolled out across Europe on Thursday its section where it features hand-crafted products sold directly by artisans. More than a thousand European artisans have joined Handmade, where they can present their wares on the e-commerce website as well as explain their craft and the unique properties of each object.Amazon emerged as ...