Retail

  Sydney / AFP Australian supermarket giant Woolworths on Thursday reported a large annual net loss of Aus$1.23 billion (US$940 million), its first since listing more than two decades ago, following a failed push into hardware and a slump in food sales. Woolworths, Australia’s largest retailer and one of the two dominant supermarket chains in the country, recorded the sharp …

  Bloomberg Li & Fung Ltd., the world’s largest supplier of clothes and toys to retailers, reported a 14 percent fall in first-half core operating profit as concerns about the US presidential election, Brexit impact and terrorism hurt sales. Core operating profit dropped to $156 million for the six months ended June from a year earlier, the Hong Kong-based supplier …

  Bloomberg Coca-Cola Beverages Africa, the bottling joint venture between the U.S. soft-drink maker and brewer SABMiller Plc, may close South African plants and see profit in the country more than halve if the government pushes ahead with a proposed sugar tax. South Africa’s National Treasury last month recommended a levy on sugar-sweetened beverages that would generate almost 11 billion …

  Bloomberg Elon Musk and his cousins Lyndon Rive and Peter Rive are buying $100 million of solar bonds from their rooftop solar company, SolarCity Corp. Musk is personally buying $65 million of bonds, San Mateo, California-based SolarCity said in a filing. Lyndon Rive, SolarCity’s chief executive officer, and Peter Rive, its chief technology officer, are each buying $17.5 million. …

  Bloomberg Wal-Mart Stores Inc. is reviewing Welspun India Ltd.’s cotton certification records after Target Corp. raised concerns that the supplier is passing off cheaper bed sheets as premium Egyptian cotton. Wal-Mart, the world’s largest retailer, plans to hold further discussions with Welspun and “handle it appropriately” if any issues are discovered, according to spokeswoman Marilee McInnis. The chain is …

  Bloomberg Shoprite Holdings Ltd. would consider expanding outside Africa as the continent’s largest food retailer seeks additional fast-growing markets, Chief Executive Officer Whitey Basson said. “There are countries that have great potential,” Basson said in a phone interview on Tuesday, without giving a timeframe. The company would be wary of overpaying for acquisitions if it decided to use that …

Bloomberg Mexico’s biggest department-store operator became a dealmaker to jump start growth. Its second major purchase this summer is winning over investors who were startled by the first one. El Puerto de Liverpool SAB posted the second-biggest returns among major Mexico companies since agreeing August 10 to buy the Suburbia clothing chain from Wal-Mart Stores Inc. in a deal valued …

  Emirates Business Musafir.com, the UAE’s first premium-experience travel website, announces on Monday a major new partnership with Singapore Tourism Board (Middle East), to raise awareness of Singapore as a compelling leisure destination in the Middle East and drive strong conversion of holiday packages to Singapore as well as introduce new benefits for travelers in the UAE and beyond. Under …

  Bloomberg MTN Group Ltd. started a 9.9 billion rand ($727 million) economic empowerment plan that will boost black ownership of the South African unit to more than 30 percent and enable Africa’s biggest mobile operator to bid for high-speed internet spectrum. Stock will be issued through empowerment vehicle MTN Zakhele Futhi to qualifying black employees at 102.80 rand each, …

  Bloomberg Alimentation Couche-Tard Inc. agreed to buy the gas-station chain CST Brands Inc. for about $3.67 billion, using its biggest-ever acquisition to expand its foothold in Texas and eastern Canada. Couche-Tard will pay $48.53 a share in cash for CST, according to a statement Monday. The offer — valued at about $4.4 billion including debt — represents a 42 …