Retail

  Bloomberg LVMH fell slightly short of the high bar the world’s biggest luxury company has set for itself, as continued strong sales from the owner of Louis Vuitton bags and Dom Perignon Champagne failed to impress some investors. The French company posted solid results for the second quarter in Europe, the US and Japan but suffered from a poor ...

  Bloomberg Adidas AG issued a profit warning after its sales were hit by lockdowns and consumer boycotts in China, offsetting strong momentum in its key western markets. The German sneaker company said although its second-quarter results are “somewhat ahead of expectations” with strong growth in Western markets, the recovery in Greater China was slower than expected. Adidas shares fell ...

  Bloomberg Walmart Inc cut its profit outlook again in a surprise warning weeks ahead of its earnings report, sending retailer shares tumbling and raising new questions about US consumers’ ability to sustain their voracious spending habits with inflation at a four-decade high. Adjusted earnings per share will fall as much 13% in the current fiscal year as US shoppers ...

  Bloomberg Customers seeking to buy Zenith brand watch models including the Chronomaster Sport and Defy Skyline are now having to join waitlists as sales for the Swiss brand surge. “We have a shortage and there is very little chance to get one without a long waiting time,” Julien Tornare, the president and CEO of LVMH-owned Zenith, said. The Zenith ...

Bloomberg Rising prices in the US are starting to weigh on consumer spending. Two-thirds of US consumers say they are planning to reduce spending over the next six months as a result of inflation, according to a recent survey of roughly 2,000 people conducted this month by Morgan Stanley. A similar percentage identify inflation as a top concern. The number ...

  Bloomberg Investors looking to sell stakes in Shein are evaluating bids at discounts of about 30% to its $100 billion valuation in April, according to people familiar with the matter, amid concern about the Chinese fast-fashion giant’s slowing growth. While some current shareholders in the private company are considering cashing out ahead of a future initial public offering, the ...

  Bloomberg Aldi is giving its UK staff a pay rise for the second time this year as the German discount supermarket attracts more shoppers seeking to cope with the higher cost of living. Starting in September, Aldi will pay store workers at least £10.50 ($12.59) an hour and £11.95 in London, the highest pay among supermarkets in Britain, according ...

  Bloomberg Amazon.com Inc is done dabbling in healthcare. With its proposed $3.49 billion purchase of One Medical parent 1Life Healthcare Inc, the e-commerce giant is taking its biggest step yet into an industry that accounts for about one-fifth of the US economy. The deal will give Amazon relationships with hundreds of thousands of patients and their employers as well ...

  Bloomberg Shares in Frasers Group Plc leaped after the owner of Sports Direct and House of Fraser reported bumper profits and said it expects to grow further this year in the first financial results since Michael Murray took over as chief executive. Frasers forecast profit of at least £450 million ($538 million) in the financial year to April, building ...

Bloomberg Lululemon Athletica Inc workers are petitioning to unionise, extending a wave of organising at previously union-free US retail firms. Employees at one of the athletic-wear company’s Washington stores filed for a unionisation election with the National Labor Relations Board. The proposed bargaining unit would cover 33 employees, according to the filing from the workers’ new labour organisation, which calls ...