Retail

  Bloomberg Instacart Inc is acquiring Eversight Inc, a platform that helps retailers and packaged-goods brands determine pricing and set promotions, as it seeks to expand its technology offerings to grocers. “When it comes to grocery shopping, we know that every dollar matters. With higher inflation and the average cost of groceries up, we’re taking even more steps to make ...

  Bloomberg Lululemon Athletica Inc raised its full-year outlook, the latest sign that consumer demand among high-income shoppers remains strong even as inflation hurts purchasing power in other demographics. The maker of yoga pants and high-priced exercise attire now sees its full-year sales in a range of $7.87 billion to $7.94 billion, up from the previous range that had $7.71 ...

  Bloomberg Bed Bath & Beyond Inc. promoted its chief accounting officer to interim chief financial officer after the death of former finance chief Gustavo Arnal. Laura Crossen, the company’s senior vice president of finance and chief accounting officer, has taken over the position, Bed Bath & Beyond said in a statement. She will continue as principal accounting officer. Arnal, ...

Bloomberg Amazon.com Inc., which is struggling to quell workplace movements from the US to Europe, faces a growing union effort in Asia’s second largest economy. A group of 15 subcontracted drivers in the southwestern city of Nagasaki is protesting the long hours and excessive number of deliveries in the absence of overtime pay. They blamed Amazon’s vaunted artificial intelligence algorithms ...

  Bloomberg Bed Bath & Beyond Inc. declined after Chief Financial Officer (CFO) Gustavo Arnal falls to his death from a Manhattan skyscraper. The shares of the struggling home-goods retailer slumped by as much as 25% in pre-market activity on Tuesday, the first day of trading after the US Labour Day weekend. The Union, New Jersey-based company confirmed on Sunday that ...

  Bloomberg Laxman Narasimhan will take over as Starbucks Corp.’s chief executive officer with a long list of pressing tasks, from redesigning cafes to improving profitability. But perhaps none is as pressing as blunting a fast-spreading US union drive. It’s a tall order — especially for a leader without experience operating restaurants. Narasimhan, 55, is coming in from British consumer-goods ...

  Bloomberg Tens of thousands of applications for a payment-by-instalment plan have flooded into a British budget grocery chain just two weeks after its launch, as a cost of living crisis crushes UK household incomes. Customers of Iceland Foods have sent in around 60,000 applications so far, more than the total number of loans the credit provider behind the initiative ...

  Bloomberg Samsung Electronics Co.’s credit risk falls after Moody’s Investors Service lifted its rating to the same level as the South Korean government, citing the company’s profitability and strong finances. The senior unsecured debt rating of Korea’s biggest company was raised to Aa2, the third highest level, from Aa3, Moody’s said. The cost to insure the technology giant’s debt ...

Bloomberg Amazon.com Inc, determined to reduce the size of its sprawling delivery operation amid slowing sales growth, has abandoned dozens of existing and planned facilities around the US, according to a closely watched consulting firm. MWPVL International Inc., which tracks Amazon’s real-estate footprint, estimates the company has either shuttered or killed plans to open 42 facilities totalling almost 25 million ...

  Bloomberg Bed Bath & Beyond Inc., short on cash and time, is trying to have its Best Buy moment. While many US retailers’ attempts at a turnaround have failed in recent years, Best Buy Cos.’s is one of the few that’s succeeded. The electronics chain overcame relentless online competition and management missteps to regain its stature during the past ...