Retail

Bloomberg UK retail sales fared better than expected in June as a jump in bank holiday food sales helped mask the impact of the wider cost of living squeeze. The volume of goods sold in stores and online fell 0.1%, following a 0.8% drop in May that was bigger than previously reported, the Office for National Statistics (ONS) said. Economists ...

  Bloomberg A top management executive from Marks & Spencer Group Plc is leaving to take a finance role at Associated British Foods Plc, the owner of clothing chain Primark. Eoin Tonge, currently chief financial and strategy officer at M&S, will replace John Bason who will be retiring as finance director, AB Foods said in a statement. Bason, who has ...

  Bloomberg An Indian court agreed to send Future Retail Ltd into bankruptcy, allowing the creditors to find a new owner for the beleaguered retailer that once operated the largest chain of department stores across the country and was the prized trophy for two retail sector giants. The National Company Law Tribunal gave its verdict on a petition by Bank ...

  Bloomberg British consumers are starting to lose faith in the quality of food sold by UK supermarkets as they adapt their buying habits to cope with the highest inflation in four decades. Trust in supermarkets fell 20% over the past year and almost a quarter of shoppers say they are buying lower-quality products to feed their families, according to ...

Bloomberg Amazon.com Inc warehouses near New York City, Chicago and Orlando were inspected by federal investigators as part of a probe into potential worker safety hazards. Investigators from the Department of Labor’s Occupational Safety and Health Administration visited the sites on referrals from federal prosecutors in Manhattan, said Nicholas Biase, a spokesman for US Attorney Damian Williams. Amazon for years ...

  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 ...