Retail

  Bloomberg Alibaba Group Holding Ltd replaced Lazada Group Chief Executive Officer Chun Li with the head of its Thailand business and one-time business assistant to Alibaba CEO Daniel Zhang as competition in Southeast Asia intensifies. James Dong, 42, is taking the reins of Lazada, Alibaba’s Southeast Asian arm, with immediate effect while Li will serve as adviser to Lazada ...

  Bloomberg Plant milk is on the cusp of another boom as the industry courts a huge demographic it has ignored so far: children. Using colourful bottles of oat and pea milk packed with protein and prebiotics, the category is winning over parents. At Ripple Foods, a startup that has raised more than $200 million, its plant-based option for kids ...

  Bloomberg Denim maker Levi Strauss & Co is scaling up investment in its stores and website, as well as women’s apparel, to reach a sales target of $9 billion to $10 billion by 2027. In a new set of strategic targets, Levi now sees sales growth of 6% to 8% annually, up from its prior goal of 4% to ...

  Bloomberg Lady M is weighing a new funding round that could value the New-York based bakery chain at about $600 million, according to people familiar with the matter. The company, known for its signature Mille Crepes cakes, is looking to raise about $20 million to fuel its expansion in Asia, said the people, asking not to be identified discussing ...

Bloomberg Hong Kong’s retail sales surprisingly rebounded in April, lifting the sector out of contraction after strict Covid curbs hammered consumer spending earlier this year. Sales value rose 11.7% in April from a year earlier, the Census and Statistics Department said. That was far better than the median estimate of a 7.9% decline expected by economists in a Bloomberg survey. ...

Bloomberg Amazon.com Inc shareholders delivered a rebuke to the company over the pay for Chief Executive Officer Andy Jassy and other top executives, with an unusually close vote in the symbolic measure to ratify compensation packages for the company’s leaders. Vote totals disclosed in a filing show 56% of shareholders supported the company’s executive pay for 2021, which included $350 ...

Bloomberg Big retailers rushed to build up inventories last year amid soaring consumer demand and transportation bottlenecks — going so far in some cases as to rent their own cargo ships. Now, they’re trying to figure out how to sell all their stuff. Inventories rose $44.8 billion for companies on S&P consumer indexes with a market value of at least ...

  Bloomberg Ted Baker Plc gained on a report that Authentic Brands Group Inc is in talks with the UK fashion chain over a takeover bid worth about 300 million pounds ($379 million). Authentic Brands has indicated it’s willing to pay more than 150 pence per share for Ted Baker, Sky News reported, citing a person familiar with the situation. ...

Bloomberg Alibaba Group Holding Ltd soared after reporting revenue rose a better-than-expected 9%, reassuring investors trying to come to grips with the economic cost of sweeping lockdowns intended to eradicate Covid-19. The shares rose more than 12% in Hong Kong after the company reported revenue climbed to 204.05 billion yuan ($30.3 billion) in the March quarter, beating analysts’ projections. Chief ...

  Bloomberg Australian retailers recorded a fourth consecutive month of sales gains, suggesting cashed-up households are so far weathering a spike in the cost of living from surging fuel and other prices. Sales advanced 0.9% in April to a fresh record $24.1 billion and just shy of economists’ estimates for a 1% increase, Australian Bureau of Statistics data showed. “Cost ...