Retail

  Bloomberg The Swiss athletic brand On is launching a resale site, making it the latest company to enter the fast-growing apparel resale market. On Holding AG, which is backed by tennis star Roger Federer, went public last year and expects to see net sales of 1.1 billion Swiss francs ($1.1 billion) in 2022. The company has made sustainability a …

  Bloomberg The dollar’s long rally against the euro this year has proved a godsend for the owner of the Zara brand by swelling the value of revenue from its US garment sales when converted into euros. While it’s lost some ground over the past week, the greenback has gained more than 13% against the euro this year, boosting European …

  Bloomberg British supermarket chains Asda Group Ltd and Iceland Foods Ltd have seen their bonds move out of the distressed zone after British Prime Minister Liz Truss’s promised help on energy bills. With Britons expected to have more money in their pockets to spend on essential groceries, the sweeping package of measures to contain spiraling energy bills announced last …

  Bloomberg Aldi has become Britain’s fourth largest supermarket for the first time, overtaking Wm Morrison Supermarkets Plc to gain 9.3% of the country’s grocery market. The German discounter’s market share climbed 1.2 percentage points in the 12 weeks to September 4, retail data company Kantar said. Brits have been turning to cheaper outlets and own-brand labels amid the country’s …

  Bloomberg J Sainsbury Plc has become the latest British retailer to unveil a “cost of living support package” that it says will help staff cope with the steepest inflation in decades. The UK’s second-biggest supermarket will lift pay by 25 pence ($0.34) an hour and offer free food and other discounts for employees, it said. Inflation has already moved …

Bloomberg Kroger Co exceeded Wall Street’s earnings estimates and raised its annual forecast, citing strong demand for food prepared at home and a shift toward private-label goods. Adjusted earnings in the current fiscal year will range as high as $4.05 a share, up from the previous forecast of no more than $3.95, Kroger said in a statement. The profit measure …

  Bloomberg India’s retail inflation accelerated in August after easing for three months, posing a fresh challenge to the central bank’s efforts to cool prices. Consumer prices rose 7% last month from a year earlier, data released by the Statistics Ministry showed. That’s faster than an estimate of a 6.90% gain in a Bloomberg survey of economists and compares with …

  Bloomberg As Chinese consumers curb their spending in a pandemic-stricken economy, one discount e-commerce firm is emerging as a clear stock-market winner. Shares of Pinduoduo Inc, which sells everything from groceries to beauty products, have soared 43% over the past month, ranking as the top performer in the Nasdaq Golden Dragon China Index, which has slipped 0.9%. The stock …

  Bloomberg British fast-fashion company Asos Plc warned that sales in August were weaker than expected as inflation crimped shoppers’ purchasing power. Full-year profit will come in at the lower end of guidance, with sales growth of only about 2%, according to a statement. The online retailer also cited a slow start to its autumn/winter ranges. “Asos remains cautious about …

  Bloomberg Associated British Foods Plc (AB Foods) warned profit will decline in the next fiscal year as rising energy costs and the strengthening of the dollar weigh on the Primark value fashion chain. The UK conglomerate said Primark, which generates most of the group’s profit, is experiencing unprecedented volatility and its operating margin will fall next year, despite recent …