Retail

Bloomberg Harry’s Inc catapulted to fame by selling sleek, low-priced razors over the internet. A decade on, it’s now generating more than half of its sales from brick-and-mortar stores, its founders said. The closely held company, which made a splash taking on what founders Andy Katz-Mayfield and Jeff Raider saw as big corporations’ overpriced offerings, is seeing the sales payoff ...

Bloomberg Simon Property Group and Brookfield Asset Management are offering to acquire retailer Kohl’s Corp in a deal that would be worth more than $8.6 billion, according to a report in the New York Post. Simon and Brookfield, which bought rival department-store chain JCPenney out of bankruptcy, have offered $68 a share, according to people with knowledge of the talks ...

Bloomberg Walmart Inc is looking to boost its decor credentials with a new outdoor furniture line backed by Dave and Jenny Marrs, a builder-designer duo known for their home-remodeling shows on HGTV. The collection includes a porch swing and dining table from the couple, who star on the show Fixer to Fabulous. Walmart plans to add indoor furniture soon, Julie ...

  Bloomberg Gap Inc plummeted after announcing trouble at Old Navy — the brand that generates half of its sales and is seen as the apparel giant’s growth generator going forward. Nancy Green, who joined Old Navy in 2019 after having run Athleta, is leaving soon, Gap said. An external search is under way for her replacement. The retailer also ...

  Bloomberg UK convenience store operator McColl’s Retail Group Plc said it is in talks on a financing deal to save the company, but warned shareholders that they face wipeout even if a pact is reached. The stock plunged 55%. “A potential financing solution is under active discussion with its key commercial partner and lenders which would resolve the short ...

  Bloomberg Kering SA shares tumbled after growth at Gucci, its biggest brand, missed estimates in the first quarter, hindered by lockdowns in China. Sales at Gucci, which generated more than half of Kering’s revenue in the period, rose about 13% on a comparable basis, the Paris-based company said. Analysts had predicted a gain of almost 19%. The stock fell ...

  Bloomberg Lululemon Athletica Inc outlined a new five-year plan intended to double sales to $12.5 billion by 2026, in part by expanding its offerings to men. The athletic-wear retailer aims to double the revenue it gets from men’s products and its digital channel, while quadrupling international sales from 2021 levels, the company said in a statement. Executives are meeting ...

  Bloomberg Frasers Group Plc’s new chief executive officer will receive a $27 million payment just days before he takes charge of the British retail group. The company behind Sports Direct and House of Fraser said it was awarding the payment to Michael Murray for his previous consultancy work at the group. Murray is not formally employed by Frasers but ...

  Bloomberg Amazon.com Inc struck deals to boost its access to renewable energy by almost a third as the company looks to get all of its power from green sources within a few years. The retail giant will buy power from 3.5 gigawatts of new projects — mostly solar farms in the US — to supply its offices, warehouses and ...

Bloomberg Nestle SA reported a healthy gain in revenue as the world’s largest food company started the year with its strongest first-quarter pricing in more than a decade. Sales rose 7.6% on an organic basis in the first quarter, the company said. Analysts expected 5.1%. The figures exclude Russia, where Nestle has halted some activities. Food and beverage companies have ...