Retail

BLOOMBERG BuyBuy Baby’s stores will shut down after the baby brand — once cast as Bed Bath & Beyond Inc’s prized asset — garnered no adequate going-concern bids in a bankruptcy auction, according to court papers. New Jersey-based baby goods company Dream on Me Industries Inc won a bankruptcy auction for BuyBuy Baby’s intellectual property last month, but advisers kept ...

BLOOMBERG Golden Goose, the upstart maker of $500 sneakers, is turning back the clock to keep pace with its trendy Generation Z fans, staffing its stores with trained cobblers to help meet demand for products that won’t end up in a landfill. The Italian brand has long insisted that its customisable, star-emblazoned sneakers only improve with age. But adding repair ...

BLOOMBERG Nike Inc fell the most in the Dow Jones Industrial Average after the athletic-gear maker’s outlook for the full year failed to win over Wall Street. Full-year revenue for fiscal 2024 should grow in the mid-single digits, led by its direct-to-consumer business, Chief Financial Officer Matthew Friend told analysts during a conference call. Analysts project growth of close to ...

BLOOMBERG Ocado Group Plc shares jumped as much as 47% in London, the most in more than five years, following a Times report on “speculation of bid interest” from technology firms such as Amazon.com Inc in the British online grocer. The report, which did not specify the source of the information, said Amazon and several other tech “heavyweights” were considering ...

BLOOMBERG Fast-fashion giant Shein will strengthen its presence in Europe and Mexico, including selling more locally made products, in a bid to diversify its China-centric supply chain. The company will launch an online marketplace in Mexico this month, where products from third-party sellers can be bought alongside Shein’s own brand of $10 dresses and $12 jeans. That’ll be followed by ...

BLOOMBERG  Bayer AG is seeking to double the sales potential of its crop-science division by tapping opportunities to reduce carbon emissions from farming. The chemicals firm sees more than €100 billion ($109 billion) in possible revenue from segments adjacent to its core agricultural businesses, it said in a statement, without specifying a time frame. These include precision digital tools to ...

BLOOMBERG  FedEx Corp said it cut 29,000 US jobs over the past year and issued a 2024 profit outlook that fell short of analysts’ expectations as it continues to trim costs in the face of waning package delivery demand. The company is slashing expenses as the industry copes with a decline in package volume following two years of surging demand ...

BLOOMBERG United Airlines Holdings Inc is offering its pilots a contract with an incremental value in excess of $8 billion over four years, a figure that would make it the richest deal ever for a mainline US carrier. The company is negotiating weekly as it tries to reach a formal agreement with the union, Chief Executive Officer Scott Kirby said ...

BLOOMBERG Airbus SE predicted aircraft manufacturers will deliver 40,850 new jets over the next two decades as customers particularly in Asia expand their fleets and replace older aircraft with more fuel-efficient models. The plane manufacturer expects the global installed fleet to more than double through 2042 to 46,560 aircraft, with 23,680 planesrepresenting growth and 17,170 going toward replacement of older ...

BLOOMBERG The UK’s competition authority has ordered J Sainsbury Plc and Asda to stop using land agreements that prevent rivals opening nearby stores. The move will benefit discount supermarkets Aldi and Lidl which are opening more outlets as they gain market share in the UK’s highly competitive grocery market. Sainsbury and Asda, the UK’s second- and third-largest grocers, were found ...