Retail

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 ...

  Bloomberg Thai e-commerce startup Pomelo Fashion is cutting staff across its functions, joining other tech firms downsizing this year in a bid to withstand an economic slowdown. The online fashion retailer cut about 55 employees, or 8% of its headcount, it said. The company said it has streamlined its processes “to move towards more sustainable growth.” The Bangkok-based startup ...

  Bloomberg Retail sales growth slowed last month as shoppers tightened their purse strings in the face of Britain’s escalating cost-of-living crisis. Sales were just 1% higher than in August 2021, the British Retail Consortium and consultancy KPMG said in a report. Clothing sales were “sluggish” for the first time in recent months and parents curbed their back-to-school spending. With ...

Bloomberg The expected post-Labour Day high-grade borrowing rush is underway, with Target Corp, Walmart Inc, McDonald’s Corp, Lowe’s Cos, and Nestle SA among the companies tapping the US investment-grade market. Eighteen issuers are selling new debt, with more deals possible. Companies are rushing into the market despite increasing volatility and higher borrowing costs over the last several weeks. Syndicate desks ...

  Bloomberg Instacart Inc is acquiring Rosie Applications Inc, an online grocery startup focused on local retailers and wholesalers, as it moves to consolidate and expand its share of the online grocery delivery market ahead of an anticipated initial public offering (IPO) this year. Rosie is Instacart’s second acquisition this month, following its purchase of pricing and promotions platform Eversight ...

Bloomberg British budget grocery chain Iceland Foods saw its debt bounce off recent lows after UK Prime Minister Liz Truss finalised plans for a £40 billion ($46 billion) support package to lower energy bills for British businesses. Iceland’s £550 million of bonds maturing in March 2025 rose by as much as 1.8 pence on the pound to a cash price ...