Retail

  Bloomberg Convenience store operator 7-Eleven Malaysia Holdings Bhd is weighing exiting its pharmacy chain, according to people with knowledge of the matter. The Kuala Lumpur-listed company is working with an adviser on the potential divestment of Caring Pharmacy Group Bhd, which is attracting interest from some Japanese parties, the people said. The company could seek a valuation for the …

  Bloomberg Esprit Holdings Ltd, the once high-flying Hong Kong fashion retailer before it tumbled into years of losses, is planning a comeback in Asia, pivoting away from a fast-fashion strategy where it failed to compete with brands such as Zara and H&M. The company is now focusing on better-quality clothing that’s more expensive than fast-fashion apparel but more sustainable, …

  Bloomberg Swedish retailer Hennes & Mauritz AB will start winding down its operations in Russia, having halted all sales in the country in March after Russia’s attack on Ukraine. The Stockholm-based company expects to book costs of 2 billion kronor ($190 million) from the process, of which about 1 billion kronor will have a cash-flow impact, it said in …

Bloomberg Amazon.com Inc. has considered abandoning its private-label business as a peace offering to regulators. The company’s growing set of house brands is at the core of investigations launched by US and European regulators into whether the world’s largest e-commerce company is abusing its market power. Regulators have accused Amazon of using in-house sales data to select best-selling products sold …

Bloomberg Burberry Group Plc held its medium-term forecast steady despite severe lockdowns in parts of China in April and May that hurt demand for luxury products. The British fashion brand continues to target high-single digit revenue growth and a 20% margin at a constant currency in the medium term, as it “actively manages” the impact of lockdowns in China and …

  Bloomberg Amazon.com Inc said it would create more than 4,000 new permanent jobs in the UK this year, the smallest number it’s announced in at least three years, despite planning to open two more fulfillment centers in the north of England. The new roles will span corporate, technology, as well as delivery and fulfillment positions, some of which will …

  Bloomberg Fast Retailing Co climbed the most in three months after projecting a record full-year profit on a weaker yen and as strong sales globally outweigh a China slump due to Covid Zero lockdowns. Shares of Uniqlo’s owner surged as much as 8.5% in Tokyo, the biggest intraday gain since mid-April, and were 8.4% higher. The Topix was little …

Bloomberg Amazon.com moved a step closer to settling two European Union antitrust probes into how the US ecommerce giant uses rivals’ sales data and whether it unfairly favours its own products, after it proposed remedies to appease EU concerns. The European Commission said that it’s asking rivals for their feedback on a proposed deal in antitrust probes looking into its …

Bloomberg Uniqlo owner Fast Retailing Co expects full-year profit will hit a record as a weaker yen and strong sales globally outweighed a China slump due to Covid Zero lockdowns. The Asian retailer raised its full-year operating forecast to 290 billion yen ($2.1 billion) from an earlier estimate of 270 billion, according to a statement. That topped analyst projections and, …

  Bloomberg Amazon.com Inc’s Prime Day sale is luring bargain hunters looking to stock up on pantry items and cheap electronics despite a dearth of deals. Typical household spending was $88.28 as of noon New York time, up 20% from the early hours of the previous sale last June, according to Numerator, which is tracking Prime Day spending from 973 …