Retail

  Bloomberg Chewy Inc tumbled after the online seller of pet supplies cut its revenue outlook and said customer growth has slowed. Sales in the current fiscal year will total no more than $10 billion as customer pull back on discretionary goods such as toys and treats, Chewy said in a letter to shareholders. That’s down from a previous forecast …

Bloomberg Bed Bath & Beyond Inc shares plunged in premarket trading on Wednesday after the home-goods retailer announced in a filing that it may offer, issue and sell shares of its common stock from time to time. Shares in the retail-trader favourite sink as much as 21% as of 6:42 am New York time, erasing an earlier gain of as …

  Bloomberg Hong Kong’s retail sales rose more than expected in July, reversing two months of declines as the city attempts to mount a recovery from Covid-19 curbs and other headwinds. Retail sales value rose 4.1% in July from a year ago, the Census and Statistics Department said on Wednesday. That compared to a median estimate of a 1.4% rise …

Bloomberg Best Buy Co surpassed Wall Street’s profit estimate after warning a month ago that it was under pressure from waning consumer-electronics demand. Adjusted earnings fall to $1.54 a share in the fiscal second quarter, Best Buy said in a statement on Tuesday. That exceeded the $1.35 average of analyst estimates compiled by Bloomberg, which had come down sharply since …

Bloomberg Auchan Retail plans to keep its Russian operations going even though the division is likely to be unprofitable and the country’s invasion of Ukraine continues amid global condemnation. The French grocer is experiencing a “marked slowdown in activity” in Russia that began in the second quarter, Auchan Retail Chief Financial Officer Ludovic Delcloy told analysts and journalists during a …

  Bloomberg US consumer confidence rose by more than forecast in August to the highest since May, suggesting that Americans are growing more optimistic about the economy amid falling gas prices. The Conference Board’s index increased to 103.2 from a downwardly revised 95.3 reading in July, the first increase in four months, data on Tuesday showed. The median forecast in …

  Bloomberg Walmart Inc plans to take Massmart Holdings Ltd. private and will promote the unit’s chief operating officer to head of the company as it prepares to renew its focus on South Africa. The global retail giant plans to buy all of the shares it doesn’t already own of Massmart for 62 rand ($3.65) apiece, a 53% premium to …

  Bloomberg Australian retailers powered further ahead in July, suggesting cashed-up households are coping well with rapid interest-rate increases. Sales advanced 1.3%, easily exceeding economists’ forecasts for a 0.3% gain, the Australian Bureau of Statistics said in a statement on Monday. The gain was the largest in four months. “Turnover rose in five of the six retail industries,” said Ben …

  Bloomberg WhatsApp, the popular messaging service owned by Meta Platforms Inc., is rolling out a shopping product in India, the first time users will be able to browse and purchase groceries and other household products without leaving the app. WhatsApp unveiled the new tool alongside JioMart, part of Reliance Industries Ltd.’s Jio Platforms, an Indian tech company that Meta …

  Bloomberg Vegans with a hankering for chocolate-covered wafers can at last get their hands on a KitKat. Nestle SA, the Swiss food giant, is launching KitKat V, a plant-based version of one of the world’s most popular chocolate bars, with a rollout planned across 15 European countries including the UK. Unlike the classic KitKat, the vegan version uses a …