Retail

  Bloomberg Inditex SA, the world’s biggest clothing retailer, reported earnings that beat analysts’ estimates as the company prioritized online expansion over store openings. First-half operating profit increased 8 percent to 1.61 billion euros ($1.8 billion) in the six months through July, Inditex said on Wednesday. Analysts expected 1.58 billion euros. Revenue rose 13 percent in the first weeks of ...

  Bloomberg Airbnb Inc. gained market share in France, the world’s most visited tourist destination, despite a string of terrorist attacks that depressed bookings at traditional hotels. The San Francisco-based company’s apartment-sharing website drew 3.6 million travelers to France in June, July and August, 86 percent more than in the same period a year ago, it said in a statement ...

  Bloomberg Amazon is already the biggest clothing seller online. It might soon overtake most of its brick-and-mortar rivals in fashion sales, as well. There were no runway models on any Amazon catwalk at last week’s New York Fashion Week. But the e-commerce giant still loomed large in the minds of retail executives watching it elbow its way into the ...

  Bloomberg OVS SpA, Italy’s largest children’s clothing retailer, agreed to buy Charles Voegele Holding AG with two other investors for about 56 million francs ($57 million), ensuring the survival of the ailing Swiss chain after years of speculation about its future. The offer price of 6.38 francs per share is 2.1 percent higher than Charles Voegele’s closing price on ...

  Bloomberg Ikea, the world’s biggest furniture retailer, has selected asset manager Pradera as the lead bidder to buy 27 European retail parks surrounding its stores, according to a person with knowledge of the matter. Pradera has offered about 1 billion euros ($1.1 billion) to buy the assets which are being sold through broker Cushman & Wakefield Inc., the person ...

  Sydney / AFP Australian carriers Qantas and Virgin Australia told customers on Thursday not to use or charge Samsung’s Galaxy Note 7 during flights after faulty batteries in the new smartphone caused some handsets to explode. Samsung, the world’s largest smartphone maker, said last week it was suspending sales of its latest flagship mobile device and recalling 2.5 million ...

  Bloomberg When the going gets tough, Brits buy 4K TVs and fancy food mixers. Dixons Carphone, one of the retailers most exposed to the fall-out from Britain’s vote to leave the European Union, reported first-quarter sales that beat analyst expectations, and said it had seen “no detectable impact” from the referendum result on UK consumers. Britons it seems, have ...

  Bloomberg Steinhoff International Holdings NV said it sees further opportunities for growth in its main markets as the acquisitive South African clothing and furniture retailer announced its latest purchase and reported a 20 percent rise in full-year profit. The company agreed to buy Tekkie Town, a South African shoe retailer with 302 stores, Steinhoff said in a report posted ...

  Bloomberg Aritzia LP, the Canadian women’s fashion retailer, aims to raise about C$300 million ($234 million) from its initial public offering, in what would be the country’s largest IPO since the C$1.83 billion sale of electric utility Hydro One Ltd. in October. Aritzia shareholders Berkshire Partners and company founder Brian Hill plan to sell 20 million subordinate voting shares ...

  Bloomberg Hong Kong KFC’s partnership with an Alibaba affiliate puts the pressure on the Golden Arches in China more than ever. By allying with a backer of the country’s top food delivery website, KFC owner Yum Brands has taken a step toward solving the dilemma of slowing growth in its biggest market outside the US. It’s a deal that ...