Retail

  Bloomberg Weilong Delicious Global Holdings Ltd has revived its Hong Kong initial public offering, paving the way for one of the city’s biggest listings this year. The Chinese snack maker refiled a preliminary prospectus, confirming an earlier Bloomberg News report. The filing doesn’t contain any offering details. The company could raise about $500 million in a share sale, which …

  Bloomberg Prosus NV is planning to sell more of its $134 billion stake in Chinese internet giant Tencent Holdings Ltd to finance a buyback program, reversing a pledge to hold onto the full shareholding. Tencent erased earlier gains in Hong Kong as investors pondered the extent to which Prosus, the Chinese company’s biggest shareholder, will unload its stock. The …

  Bloomberg Reliance Industries Ltd is in talks with several global banks to raise as much as $8 billion for its planned leveraged buyout of Walgreens Boots Alliance’s international arm, according to a report from Mint. The report, which cited two people familiar with the discussions, said that Reliance is in talks with Barclays Bank Plc, Deutsche Bank AG, HSBC …

Bloomberg Nike Inc said it’s leaving the Russian market entirely after suspending operations in March, joining other US companies that have pulled out in the wake of Russia’s invasion of Ukraine. The world’s largest athletic-wear maker halted sales in Russia earlier this year, telling customers that it couldn’t guarantee product shipments. The Beaverton, Oregon-based company had more than 100 stores …

Bloomberg Regent Street, London’s premier shopping thoroughfare, is struggling to shake off the lingering effects of Covid-19. Store vacancy levels, at a record 12%, are almost twice what they were at the end of 2019, while asking rents for the best space on the street have fallen by more than 30% during the pandemic, according to Savills Plc. Shoppers who …

  Bloomberg Software maker Zendesk Inc agreed to be acquired by a group of buyout firms led by Hellman & Friedman and Permira for about $9.5 billion. The all-cash transaction offers shareholders $77.50 a share, a premium of 34% over Zendesk’s closing stock price. Including debt, the deal is valued at about $10.2 billion. The announcement comes after Zendesk said …

  Bloomberg More than 75% of people are “terrified” of the effect the cost-of-living crisis will have on their families, according to the head of UK’s largest supermarket. Tesco Plc Chief Executive Officer Ken Murphy said the grocer has done a lot of research about how people are feeling right now as they battle the worst inflation to hit Britain …

  Bloomberg Amazon.com Inc tapped Doug Herrington to run the company’s sprawling retail and logistics operation, giving him the new title chief executive officer of Worldwide Stores and signalling the importance of a continued push into groceries under company CEO Andy Jassy. Herrington, 55, joined Amazon in 2005 and launched the Amazon Fresh grocery delivery service in 2007. He replaces …

Bloomberg British sporting goods billionaire Mike Ashley’s Frasers Group Plc raised its stake in fashion retailer Hugo Boss AG, ramping up its exposure to the German retailer as it works on a rejuvenation effort. Frasers valued the new holding at about 900 million euros ($944 million) in a statement, two years after first investing about 108 million euros in the …

  Bloomberg Traders piled into shares of Revlon Inc, driving its gains from a record low to 650% as individual investors looked to strike a quick profit, while ignoring the fundamentals of the troubled cosmetics giant. The stock surged 34%, bringing gains from an all-time low to more than 650% as trading volume continued to soar past recent trends. More …