Retail

BLOOMBERG Cosmetics maker Natura &Co Holding SA is considering the sale of its Body Shop unit as it seeks to cut costs, the latest step in a reversal of a major global expansion strategy. Shares in the Sao Paulo-based company were up 2.3%, following its board’s approval to explore strategic alternatives for The Body Shop, including a potential sale. It ...

BLOOMBERG Rolex SA is upending the world of luxury watch retailing by buying Bucherer AG in a deal that gives the Swiss brand a major presence in consumer sales for the first time. In a move that could have long-term consequences for rival retailers, the world’s largest luxury watchmaker will now control Bucherer’s more than 100 stores globally. Although the ...

BLOOMBERG Gap Inc reported second-quarter comparable sales and revenue that missed the average analyst estimate, underscoring ongoing weakness at the retailer’s four brands. The results come three days into Chief Executive Officer Richard Dickson’s tenure, who joined the company from Mattel Inc after his success with the Barbie franchise. While Dickson has yet to lay out a vision for the ...

BLOOMBERG Americans are still spending. And the country’s biggest retailers are still warning that the party is at risk of fizzling.  Walmart Inc, Target Corp and Home Depot Inc all topped Wall Street’s profit estimates in their fiscal second quarters, which ended in late July. In that way, at least, the results reinforced the picture of a resilient consumer after ...

BLOOMBERG Shein is the most downloaded shopping app on South Africa’s Google Play store. And it isn’t even trying that hard. The Singapore-based fast-fashion brand launched in the country at the foot of the continent during the Covid-19 pandemic and is expanding via word-of-mouth and by offering first-time buyer discounts. It has already caused such a stir that local retailers ...

BLOOMBERG Estée Lauder Cos gave a profit outlook that fell short of estimates, a sign the beauty company expects continued struggles in its crucial travel retail business in Asia. The owner of the MAC and Tom Ford brands said it sees those struggles causing a net loss as well as a sales decline of 10% to 12% in the current ...

BLOOMBERG Sales of SlimFast, the meal replacement shakes, have dropped in the US as people turn to new blockbuster weight-loss drugs instead. Consumption of Slimfast was down 33% in the 12 weeks to July 16 compared with a year earlier, according to Glanbia Plc, the owner of the brand, which released its first-half earnings statement. Injectable drugs to help people ...

BLOOMBERG Amazon.com Inc is imposing a new fee on merchants who don’t use the company’s logistics services, a change many of these sellers consider coercive and surprising since the US government is poised to file an antitrust lawsuit against the e-commerce giant. Thousands of third-party merchants who ship products via Amazon’s Seller Fulfilled Prime program will start paying a 2% ...

BLOOMBERG Walmart Inc raised its annual profit forecast for the second straight quarter after scoring new sales gains with bargain-hunting US shoppers. Food revenue continued to rise strongly and Walmart’s general merchandise business was stronger than the company expected at the beginning of the second quarter, said Chief Financial Officer John David Rainey. The retailer is also still benefiting from ...

BLOOMBERG Home Depot Inc earnings exceeded the average analyst estimate, suggesting that US home improvement spending is performing slightly better than expected following an unprecedented boom during the pandemic. Earnings per share were $4.65 on a diluted basis in the second quarter, above the average estimate compiled by Bloomberg. Comparable sales, another key metric, fell 2% in the quarter, a ...