Retail

Bloomberg Online furniture store Made.com Group Plc put itself up for sale after the cost-of-living crisis and supply-chain snarls severely disrupted a business that boomed during Covid-19 lockdowns. The UK company kicked off a strategic review, saying it hasn’t received any formal offers. Made.com said it’s considering debt financing, taking on a business partner or a complete sale or merger. ...

  Bloomberg Walmart Inc, the largest private-sector employer in the US, aims to hire 40,000 seasonal workers for the holiday season this year — a sizable decrease from 2021. A year ago, the retail giant said it would add 150,000 jobs, many of them permanent, during the year’s busiest shopping season. In the coming months, Walmart will start by offering ...

  Bloomberg Amazon.com Inc lost a bid to exclude top executives including billionaire founder Jeff Bezos and CEO Andy Jassy from having to testify in a Federal Trade Commission probe. The company filed a petition with the FTC last month, arguing that the agency’s information and interview requests were “unduly burdensome.” In an order, the FTC rejected that request, saying ...

  Bloomberg Lidl is raising wages for its UK staff to overtake Aldi and become the highest-paying supermarket in Britain. Starting next month Lidl will pay employees £10.90 ($12.38) an hour outside London, up from £10.10, and £11.95 within the capital, up from £11.30 previously, the company said. That compares with its rival discounter Aldi which pays at least £10.50 ...

  Bloomberg JD Sports Fashion Plc will pay former boss Peter Cowgill at least £5.5 million ($6.3 million) as part of an exit deal after he was ousted in May amid concerns over the company’s governance practices, including a meeting he held in a parking lot with the head of a rival company. As part of the accord Cowgill is ...

  Bloomberg HappyFresh has secured funding from investors to resume online grocery operations in Indonesia, staving off a potential cash crunch fomented by the regional economic slowdown. The Instacart-style grocery delivery service said it’s restarting operations in its home market, after a strategic review. It will work with venture debt funds Genesis, Innoven and Mars on restructuring the business, HappyFresh ...

  Bloomberg Marks & Spencer Group Plc will spend £15 million ($17 million) to support employees struggling with Britain’s spiraling cost of living. The retailer said that it plans to boost hourly wages to at least £10.20 from £10, its second pay rise this year, while providing one-time £250 M&S vouchers to 4,500 workers. Other measures include free meals every ...

Bloomberg Home Depot Inc employees based in Philadelphia have filed a petition to unionise, according to a National Labor Relations Board filing, a rare move at the home-improvement retailer amid a growing nationwide labor movement. The 274 employees included in the petition work in merchandising, specialty and operations associates, according to the NLRB filing. The petition was originally filed earlier, ...

Bloomberg Ralph Lauren Corp is targeting sales growth over the next three years that’s faster than Wall Street’s estimates, with the fashion brand aiming to pick up new customers and continuing to raise prices. The New York-based apparel company is targeting revenue growth in the mid-to-high single digits in each of the next three fiscal years, including the current one, ...

  Bloomberg Mike Ashley is stepping down from the board of Frasers Group Plc four decades after he founded his retail business and just months after son-in-law Michael Murray became CEO of the Sports Direct-owner. The 58-year-old Ashley still holds an almost 70% stake in Frasers and said he remains “100% committed” to the business even though he won’t seek ...