Retail

  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 …

  Bloomberg Burberry Group Plc, the UK luxury-goods maker that shook up its top management ranks earlier this week, reported revenue that slightly beat analysts’ estimates as shoppers in the UK stepped up purchases of rucksacks and trenchcoats in the final weeks of June. First-quarter retail revenue was little changed at £423 million ($563 million) in the three months through …

  Bloomberg Wells Fargo & Co.’s head of community banking, Carrie Tolstedt, will retire from the firm at the end of July. Tolstedt, 56, who led the retail-bank unit, will be succeeded on July 31 by Mary Mack, who oversees the retail brokerage, San Francisco-based Wells Fargo said this week in a statement. Tolstedt had joined a Wells Fargo predecessor …

AFP Oculus has announced it is ramping up availability of its Rift virtual reality gear and planning a major conference in October for developers making software for it. Facebook-owned Oculus said that all pre-ordered Rift headsets have been sent to buyers, and promised that new orders made online at oculus.com will ship within four business days. “We want to apologise …

  Bloomberg Steinhoff International Holdings NV agreed to buy UK discount chain Poundland Group Plc for £597 million ($794 million) as the South African company looks beyond Britain’s Brexit vote to further expand its European retail interests. Steinhoff’s cash offer is worth 222 pence a share, about 40 percent more than where the stock was trading before bid speculation sent …

  Reuters Jarir Marketing, one of Saudi Arabia’s largest retailers by market value, missed analysts’ estimates as it posted a 17 percent fall in second-quarter net profit amid a decrease in sales of computers and office supplies. It made a net profit of 128.5 million riyals ($34.3 million) in the three months to June 30, down from 154.9 million riyals …

  London / AFP Burberry appointed Celine chairman Marco Gobbetti as its next chief executive, replacing Christopher Bailey who will become the British luxury fashion group’s new president. Gobbetti, currently the chairman and chief executive of French luxury brand Celine, will join the board in 2017 “as soon as he is contractually able to do so”, Burberry said in a recent …