Retail

Bloomberg Gap Inc. shares plunged as much as 15 percent in late trading after the apparel chain posted disappointing results, a sign the company’s much-vaunted springtime comeback hasn’t materialized. Same-store sales — a key benchmark — dropped 7 percent in April, the San Francisco-based retailer said in a statement. Analysts had predicted a gain of 1.1 percent, according to Retail …

  Bloomberg Associated British Foods Plc, the British food-to-retail conglomerate, plans to sell its Chinese sugar business for as much as $1 billion, according to a person familiar with the matter. The process is in the very early stages and there’s no timetable for completion, said the person, who declined to be identified as the information is private. AB Foods …

  Bloomberg JD.com Inc., China’s second-biggest online retailer, plunged after it reported flagging sales growth on its marketplaces and management expressed concern about the country’s economic slowdown. The American depositary receipts dropped 7 percent in New York to $23.43, the lowest since February 12. Trading volume of 45.3 million shares was more than triple the daily average of the past …

  Bloomberg Investec Bank’s aviation arm made its first foray into financing the Airbus Group SE A380 superjumbo with a deal to purchase four jets operated by Emirates before leasing them back to the Dubai-based carrier. Investec will pay a total of $1 billion for the double-deckers, of which two are new and owned by Emirates, with the other two, …

  Bloomberg HNA-Caissa Travel Group Co. plans to raise as much as 8 billion yuan ($1.2 billion) through a private share sale as the Chinese tourism and catering company seeks funds to expand its cruise and global-travel services. The company’s controlling shareholder HNA Tourism Group and as many as nine other investors will buy the shares, HNA-Caissa said in a …

  Bloomberg London’s delivery companies are experimenting with electric vehicles to curb the smog spewed by vans distributing parcels packed with goods purchased on the Internet. The UK capital’s transport authority is catalysing the transition from diesel to battery-powered vehicles by funding Gnewt Cargo Ltd., which operates London’s largest all electric delivery fleet. Gnewt is part owned by shipping DX …

  Bloomberg TOA Group, controlled by Thailand’s Tangkaravakoon family, is considering an initial public offering of its paints and chemicals business, people with knowledge of the matter said. The company, which is Thailand’s number one paint producer, is working with banks on a possible share sale that could raise at least $400 million, one of the people said. A listing …

  Bloomberg Burberry needs a style update. The luxury goods group is looking to appoint a senior manager to support chief executive Christopher Bailey, who is also its creative director, according to the Financial Times. This is not what Burberry needs. Bailey was already the brand’s top designer when he assumed the CEO role in May 2014, after his predecessor, …

  Bloomberg Rolls-Royce Holdings Plc said it’s working on plans to eliminate as many as 300 more management posts as the maker of engines for Airbus Group SE and Boeing Co.’s biggest jets steps up a cost-cutting drive amid sputtering first-half earnings. The UK company, which has already announced the elimination of 200 senior positions in two tranches, is in …

  NEW YORK / AP Those smiley door greeters are back at Wal-Mart. The US’ largest retailer said in a blog post this week that it’s bringing back door greeters to a majority of its 5,000 stores by mid-summer to improve customer service. For stores which have been selected as higher risks for thefts, Wal-Mart will position a “customer host,” …