Retail

Bloomberg Kellogg Co said it will split into three independent companies, sparking a rally in the food conglomerate’s shares. The maker of Froot Loops and other well-known breakfast cereals said the companies would focus on global snacking, North American cereals and plant-based foods — giving each greater autonomy and room for growth. The breakup will occur through two tax-free spinoffs, …

  Bloomberg Associated British Foods Plc said that budget-clothing retailer Primark will test a UK click-and-collect service on children’s products, seeking to boost sales that are still recovering from the pandemic. In a significant departure for a retailer that has previously resisted moving any of its sales online, the trial will take place in up to 25 stores in the …

  Bloomberg Ocado Group Plc raised £575 million ($705 million) to fuel expansion even as the surge in online food shopping during the pandemic recedes with soaring inflation thinning consumer wallets. Shares in the British e-commerce group fell as much as 6.1% in early trading, after Ocado sold 72.3 million shares in an accelerated placing, in an emailed statement. Stock …

  Bloomberg Berjaya Food Bhd, which operates Starbucks and chicken-based restaurant chain Kenny Rogers Roasters outlets across Malaysia, is looking to curb costs internally rather than pass on rising production costs to consumers. “For us, the last thing we want to do is increase prices. Consumers feel it if you pass the cost” to them, Group Chief Executive Officer Sydney …

  Bloomberg A former Amazon Web Services worker was convicted of hacking into the company’s cloud servers to steal customer data and computer power that she used to mine cryptocurrency. Following a week-long trial in Seattle, Paige A. Thompson, 36, was found guilty of seven federal crimes, including wire fraud, which carries a prison sentence of as long as 20 …

  Bloomberg Released by Inditex’s Zara as part of a limited clothing collection, the little pink number costs $90 and is sourced, in part, from captured carbon emissions. It’s also officially sold out. Carbon and other greenhouse-gas emissions are, for lack of a better description, the worst. The buildup of these gases in recent decades is starting to reshape every …

  Bloomberg Boohoo Group Plc is considering charging customers to send back garments as an increasing rate of returns crimps sales at the fast-fashion retailer. The British firm, whose business is purely online, is looking at returns across all markets, Chief Executive Officer John Lyttle said, at a time when many retailers are trying to manage logistics costs. While Boohoo …

Bloomberg Tesco Plc said shoppers are buying fewer items and trading down to cheaper own-brand versions of staples in an “incredibly challenging” market hit by the worst inflation in 40 years. Britain’s biggest supermarket chain reported a greater-than-expected 1.5% decline in comparable UK sales in the first quarter, in fresh evidence of how rising prices are changing shopping behaviour. “Inflation …

  Bloomberg Kroger Co said grocery shoppers are “aggressively” turning to cheaper store brands as they wrestle with the highest inflation in four decades. Same-store sales for Kroger-branded products rose 6.3% in the first quarter, faster than the overall sales growth, the company said Thursday on its earnings call. Customers who are facing higher prices everywhere from the gas pump …

  Bloomberg Europe’s retail stocks are heading back towards pandemic lows. And after the profit warning from Asos Plc and the first UK sales decline in Boohoo Group Plc’s history, it’s online merchants that are leading them there. Asos shares sunk as much as 28%, falling to the lowest since August 2010. The warning sent tremors through larger peer Zalando …