Retail

  Bloomberg With stores from near the Arctic to the foothills of the Caucasus Mountains, Magnit PJSC would be the first to know when the Russian consumer is back. Instead, the nation’s largest supermarket chain has just come across something it’s never seen. Billionaire Sergey Galitskiy’s retailer, which operates almost 13,000 outlets in Russia, said the average purchase has fallen ...

  Bloomberg Spotify, a digital music service provider, is tailoring its service for local tastes, from topical playlists to tiered pricing, as it prepares to expand its music streaming in Asia market. That strategy includes beefing up content such as Korean pop music popular in Southeast Asia and offering different payment methods in markets where credit cards are rare, said ...

  RIO DE JANEIRO / AP New, stricter security checks were implemented in Brazilian airports this week, stalling travellers and delaying flights less than three weeks before Rio de Janeiro hosts the Olympics. Starting early morning, long, chaotic lines formed at Congonhas regional airport in Brazil’s biggest city, Sao Paulo. Within a half-hour, more than 700 people were waiting on the ...

  Washington / AP US consumer prices rose modestly in June as the costs of gasoline and rent kept climbing, while sales at American retailers registered a healthy gain. The Labour Department said that consumer prices increased 0.2 percent last month, matching the gain in May. Prices are up 1 percent from a year ago, well below the Federal Reserve’s 2 ...

  Bloomberg After the strengthening yen forced Fast Retailing Co. to slash its full-year net income forecast by a quarter, the currency’s reversal along with signs of recovery in the company’s Uniqlo clothing business drove the shares up by their daily limit. The stock rose 18 percent to 32,660 yen at the close in Tokyo trading, the most since 1998, ...

  Redmond / AP If you have fond memories of battling King Koopa or tossing barrels as Donkey Kong, you can relive them this fall. Nintendo is leaping into the nostalgia market by bringing back the classic Nintendo Entertainment System (NES). The NES Classic edition comes complete with 30 built-in games, including all three “Super Mario Bros.,” ”Donkey Kong,” ”The Legend ...

  Iowa / AP In less than a year, eggs have gone from being an expensive staple at the height of the bird flu crisis to reaching the cheapest prices in a decade due to fully restocked poultry barns. But the demand for eggs has been stifled because bakeries and companies using powdered eggs in things like pancake mixes learned to ...

  Washington / AP Americans spent more money at retailers and factories revved up production in June, offering encouraging signs of the US economy’s resilience in the face of global headwinds. Industrial production shot up 0.6 percent, fuelled by a big rebound in auto output. It was the best showing since last August. Meanwhile, retail sales also rose 0.6 percent last ...

Bloomberg Casino Guichard-Perrachon SA, the French grocery retailer targeted by short seller Carson Block, reported second-quarter revenue that beat analysts’ estimates as Brazilian shoppers switched to its cheaper Assai cash & carry stores. Sales totalled 9.97 billion euros ($11 billion), rising 3.8 percent on an organic basis, the fastest pace in two years, Saint-Etienne-based Casino said in a statement. Analysts ...

  Bloomberg Staples Inc., looking to bounce back after a failed mega-merger, is bulking up its online selection and shortening delivery times to make the most of the back-to-school shopping season, which is more important for the office-supply retailer than the winter holidays. More than 1,000 products — including a wider assortment of technology products, such as headphones and tablets ...