Retail

  Bloomberg Target Corp. is considering shifting some orders to Trident Ltd. after it terminated $90 million of business with rival supplier Welspun India Ltd. for labeling cheaper bedsheets as premium Egyptian cotton, according to people familiar with the discussions. The US retail giant has begun sampling sheets manufactured by Trident, according to the people, who asked not to be …

  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, …