Retail

Bloomberg Cartier plans to raise prices in the next several weeks, making it the latest luxury brand to bet its customers are willing to spend more for their high-end watches, jewellery and accessories. The “mild” price increase will partially offset the rise of the US and Chinese currencies against the euro, according to CEO Cyrille Vigneron. It will also help to ...

  Bloomberg UK supermarket chain Iceland cuts vegetable prices to 1 penny per pack in a bid to woo shoppers squeezed by the rising cost of living. The company is cutting prices in the runup to the Easter holiday, it said in an emailed statement, and the online offer quickly became popular. Customers can buy any of the more than ...

  Bloomberg E-commerce startup FirstCry.com is planning to file for an initial public offering in Mumbai as soon as this month that could raise about $700 million, according to people familiar with the matter. The online baby product marketplace is seeking a valuation of at least $6 billion, said the people, who asked not to be identified as the information ...

Bloomberg Tesco Plc warned profit will be squeezed this year as the UK’s biggest supermarket chain battles to keep prices low for consumers facing a cost of living crisis. The stock fell to its lowest level in more than six months. The grocer, along with rivals like Wm Morrison Supermarkets, is grappling with inflation that soared to a 30-year high ...

  Bloomberg LVMH SE posted strong revenue growth as the world’s largest seller of luxury goods defied disruptions from the war in Ukraine and the resurgence of Covid-19 in China, a potential harbinger for the rest of the industry. First-quarter sales advanced 23% on an organic basis to 18 billion euros ($19.5 billion), led by LVMH’s biggest unit, fashion and ...

  Bloomberg Walmart named PayPal Holdings Chief Financial Officer as its new finance chief, turning to a company outsider as it seeks to build a financial-technology venture and a membership program. Rainey will start his new job June 6, Walmart said in a statement. A veteran of United Airlines who jumped to PayPal in 2015, Rainey will replace Brett Biggs, ...

Bloomberg Online prices in the US rose 3.6% last month from a year earlier, matching February’s record high, according to data compiled by Adobe Inc. From groceries to clothes and pet products, 14 of the 18 categories tracked by Adobe recorded price increases since March 2021. Online inflation, first observed in June 2020 after years of declines, has now persisted ...

Bloomberg Amazon.com Inc sold $12.75 billion of investment-grade bonds for general corporate purposes that may include repaying debt as well as funding acquisitions and share buybacks in its first note sale in about a year. The online retail giant issued senior unsecured bonds in seven parts. The longest portion of the offering, a 40-year security, yields 1.3 percentage points over ...

  Bloomberg Rob Walton, the eldest son of Walmart Inc founder Sam Walton, is planning a bid for the National Football League’s Denver Broncos, according to people familiar with the process. A former chairman of the world’s largest retailer, Walton, 77, is the 17th-richest person on Earth with a net worth of $68.9 billion, according to the Bloomberg Billionaires Index. ...

Bloomberg Thailand is rushing to vaccinate its elderly citizens and other vulnerable groups ahead of the local New Year celebrations as the festivities are seen fuelling a surge in Covid cases and deaths, potentially derailing a tentative economic and tourism recovery. Millions of Thais will travel to their hometowns from cities such as Bangkok to join families in celebrating Songkran, ...