Retail

  Bloomberg Luxury-goods group Kering SA agreed to pay 187 million euros ($206 million) to settle an Italian probe on alleged tax evasion at its Bottega Veneta unit, according to people familiar with the matter. Italian financial police found that Bottega Veneta used two Swiss affiliates to avoid paying taxes in Italy, the people said, asking to not be named ...

Bloomberg Christian Smalls, who started a labour union after being fired by Amazon.com Inc, was on track to potentially win a historic election to unionise one of the e-commerce giant’s facilities in New York. When federal labour officials overseeing the election halted the count, Smalls’ upstart Amazon Labor Union had 1,518 yes votes compared with 1,154 no votes from workers ...

  Bloomberg Europe’s biggest mall landlord plans to turn half a billion shoppers into a huge new advertising audience. After two-years of turmoil unleashed by Covid-19, Unibail-Rodamco-Westfield is working on how it can leverage its shoppers as it charts its recovery to pre-pandemic levels. At the heart of its strategy is a plan to track, monitor and profile the 550 ...

  Bloomberg A BNP Paribas Exane analyst slapped a sell-equivalent rating on Amazon.com Inc’s stock, the first time in two years anyone on Wall Street has been bearish on the shares. Amazon’s capital spending is going to be much higher than the market expects, while profit margins will be hurt by “inflation shocks,” analyst Stefan Slowinski said in a phone ...

  Bloomberg Lululemon Athletica Inc delivered a sales forecast for this year that exceeded analyst estimates, suggesting that the company is overcoming supply-chain snags that disrupted operations earlier this year. The athletic-wear retailer expects sales to reach as much as $7.62 billion in the current fiscal year that ends next January. The average analyst estimate was $7.2 billion. The company’s ...

  Bloomberg Ted Baker Plc’s board rejected two bids from private equity fund Sycamore Partners Management LP, the most recent one for about 254 million pounds ($334 million). Sycamore offered 130 pence a share and raised that to 137.5 pence a share, Ted Baker said. The second bid was 9% higher than the closing price. The shares fell as much ...

  Bloomberg Saudi Arabian grocery chain BinDawood Holding bought a majority stake in e-commerce app manager and developer International Applications Trading Co for an initial payment of $28.7 million that could increase subject to future profitability milestones. BinDawood Holding, through its Future Technology Retail unit, signed a definitive agreement to acquire a 62% stake in IATC, according to a statement. ...

Bloomberg Nestle SA, the world’s largest food maker, said it’s suspending the vast majority of its manufacturing in Russia amid growing pressure on multinationals to fully exit the country following its invasion of Ukraine. The Swiss company is stopping the sale of brands like KitKat and Nesquik and will focus on essential foods including baby food and medical nutrition, it ...

  Bloomberg Honest Co, the personal-care company founded by actress Jessica Alba, posted quarterly results that missed analysts’ estimates and projected a tough 2022, a disappointment for investors whose shares have fallen more than 60% from the initial public offering last May. The loss for the fourth quarter was 10 cents a share, Honest Co said, wider than the 6.1-cent ...

  Bloomberg UK retail sales unexpectedly fell in February as an end to coronavirus restrictions saw Britons change their spending patterns as they socialised more and returned to the office. The volume of goods sold in stores and online dropped 0.3%, after rising 1.9% in January, the Office for National Statistics (ONS) said. Economists had expected growth of 0.7%. Spending ...