Retail

  Bloomberg Indian smartphone maker Lava International Ltd. is in advanced talks with China’s Huaqin Technology Co. to create an electronics manufacturing venture in the South Asian nation. The venture would aim to win contracts from US and Chinese customers for research and development, design, and manufacturing of electronics products, according to a letter from Lava to India’s technology ministry ...

  Bloomberg Kroger Co agreed to buy Albertsons Cos in a deal with an enterprise value of $24.6 billion that would create a US grocery giant with almost 5,000 stores and annual revenue of about $200 billion. Investors will receive $34.10 for each share in Albertsons, which includes a special dividend, the companies said in a statement. That reflects a ...

  Bloomberg Uniqlo owner Fast Retailing Co rises the most in three months after the company issued an outlook for profit and sales for the current fiscal year ahead of analysts’ projections. Asia’s largest retailer is forecasting a record profit for the year ending August 2023, thanks to improving demand for its cheap casual apparel in Japan and a weaker ...

  Bloomberg Giving out treats this Halloween will be a lot more expensive than usual. The cost of candy and chewing gum jumped 13.1% in September from last year, the most ever, according to US inflation data. This comes just before what’s arguably candy’s most important holiday — Halloween. The culprit is expensive sugar. US refined sugar prices have soared ...

Bloomberg LVMH sales jumped as the owner of Louis Vuitton and Christian Dior benefited from wealthy American tourists splurging on luxury goods in Europe. Defying fears of a global recession, sales of LVMH’s fashion and leather goods soared 22% on an organic basis in the third quarter, the company reported. Analysts had expected a gain of 16%. Even so, the ...

Bloomberg PepsiCo Inc. said its playbook for battling inflation is still working, with price hikes fuelling double-digit gains in sales despite lower volumes of snack purchases. The company beat profit estimates for the third quarter and raised its forecast for the year. That’s a positive sign for investors at the start of an earnings season where anxieties are running high ...

  Bloomberg Starbucks Corp. violated federal law in Kansas and Missouri by firing pro-union employees, stepping up enforcement of its dress code in response to union organising and asking for police to disperse workers with picket signs, a National Labour Relations Board judge ruled. The agency judge’s decision requires Starbucks to offer reinstatement with back pay to four employees, and ...

  Bloomberg Plant-based burger maker Beyond Meat Inc. is conducting further layoffs following a round of cuts made in August, according to people familiar with the matter. It wasn’t immediately clear how many workers were terminated. Beyond Meat asked employees to work from home and restricted access to documents. Management then set up individual calls to inform some workers that ...

  Bloomberg Holiday deals are coming back, bringing a measure of relief for US shoppers squeezed by inflation. Tech gadgets to sporting goods will see “massive” online discounts, with the best bargains likely in late November, Adobe Analytics said in a report. Walmart Inc is already touting deals on computers, toys and air fryers this week, while Amazon.com Inc will ...

  Bloomberg India’s expected surge of rich consumers is driving the jewellery unit of Indian conglomerate Tata group to triple its Zoya-branded luxury stores by 2027. “There is a lot of latent demand for luxury from India and high net-worth individuals are going to explode,” Ajoy Chawla, the chief executive officer of the jewellery division at Titan Co., said in ...