Bloomberg US consumer sentiment rises in early August to a three-month high on firmer expectations about economy and personal finances. Inflation expectations were mixed, with consumers boosting their longer-term views for prices slightly, while reducing their year-ahead outlook for costs. The University of Michigan’s preliminary sentiment index rose to 55.1 from 51.5 in July, data showed. Consumers expect prices ...
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Tyson shares slump most in two years as inflation hits meat sales
Bloomberg Tyson Foods Inc, the biggest US meat company, is getting hit by inflation with soaring costs and a tight labour market squeezing sales of chicken and other meat. The owner of Hillshire Farm and Ball Park hot dogs posted adjusted earnings of $1.94 a share for its third quarter, narrowly missing the $1.98 average estimate of analysts surveyed ...
Read More »Retailers urge UK police to prioritise shoplifting as costs rise
Bloomberg Retailers including Tesco Plc and J Sainsbury Plc are calling on British police to focus on retail crime as the cost of living weighs heavily on shoppers and leads to theft. More than 100 retailers have written a joint letter to Police and Crime Commissioners in England and Wales expressing concerns about rising levels of anti-social behaviour towards ...
Read More »Alibaba helps Korean grocer take K-Food to Singapore
Bloomberg Market Kurly became South Korea’s first billion-dollar online grocery app by delivering fresh produce to customers’ doorsteps by dawn the next day. Now it’s expanding to Singapore by offering products on Alibaba Group Holding Ltd’s RedMart. Singaporeans were expected to buy Market Kurly’s ready-to-cook and ready-to-eat meals via the app, owned by Alibaba unit Lazada. They include frozen ...
Read More »Ahold Delhaize halts Dutch online unit IPO
Bloomberg Royal Ahold Delhaize NV raised its forecast for the year as it weathered soaring inflation, but pulled plans to publicly list its Dutch e-commerce unit Bol.com due to volatile equity market conditions. The Stop & Shop owner said it now expects underlying earnings per share to grow at a mid-single-digit rate this fiscal year relative to 2021 as ...
Read More »Amazon warehouse walkouts over pay spread across UK
Bloomberg Hundreds of Amazon.com Inc’s UK workers are planning walkouts in the coming days after logistics workers clashed with managers over pay. A series of walkouts and slowdown protests at seven facilities in Essex, Coventry, Bristol, Swindon, Chesterfield, Warrington and Rugeley last week are expected to be followed by further protests over the coming days, according to warehouse workers ...
Read More »Lululemon workers to vote on unionising Washington store
Bloomberg Lululemon Athletica Inc employees will vote this month on unionising a store in Washington, testing the strength of an organising wave that’s been sweeping through previously union-free US retail firms. The US National Labor Relations Board has approved an agreement between the company and the new labor group organising the location, the Association of Concerted Educators (ACE), to ...
Read More »Whole Foods co-founder builds chain of cafes, wellness centres
Bloomberg Whole Foods Market co-founder John Mackey is planning a second act when he retires from the Amazon-owned grocer next month: building a chain of plant-based restaurants and wellness centres that offer fitness and spa services. Corporate records list Mackey, 68, as a partner in Healthy America LLC, a startup that raised about $31 million from investors earlier this year ...
Read More »Alibaba cut staff by 10,000 in 3 months
Bloomberg Chinese e-commerce giant Alibaba Group Holding Ltd let go of 9,241 employees in the three months to June, according to the company’s latest filing. The Hangzhou-based firm reported it had just over 245,000 employees at the end of the most recent reporting quarter, cutting back during a period that marked its first ever contraction in revenue. Alibaba also ...
Read More »Next in talks to acquire stake in Joules
Bloomberg British clothing and housewares chain Next Plc is in talks to acquire a minority stake in troubled retailer Joules Group Plc for about £15 million ($18.1 million). The potential investment will be made “at no less than†its current market price, Joules said in a statement responding to a report it was looking to sell a roughly 25% ...
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