Retail

  Bloomberg ShopBack, an online shopping rewards app backed by Temasek Holdings, is in talks with potential investors to raise $150 million to help finance its expansion, according to people with knowledge of the matter. The Singapore-based startup is working with Morgan Stanley on the funding round, which is expected to value the company at about $1 billion, the people ...

  Bloomberg A top Levi Strauss & Co executive said she left the denim maker after more than two decades because her outspoken opposition to Covid-19 policies in schools created a fraught work environment for her. Jennifer Sey, who was the company’s global brand president, said she passed up a $1 million severance package that would have come with a ...

  Bloomberg JD Sports Fashion Plc was fined 4.3 million pounds ($5.8 million) after Britain’s merger watchdog said the retailer broke confidentiality rules during its vetoed bid for rival Footasylum. The Competition and Markets Authority (CMA) said that the two sports retailers failed to put sufficient safeguards in place to avoid sharing commercially sensitive information. The CMA said that in ...

Bloomberg PepsiCo Inc gave a full-year sales outlook that was ahead of estimates as the company looks to pass the burden of higher costs onto consumers. Organic revenue is projected to rise 6% this year on an adjusted basis, compared with the 5.4% average estimate, after fourth-quarter growth exceeded analysts’ expectations. The company said that core earnings per share were ...

  Bloomberg TAG Heuer, the maker of luxury watches worn by tennis star Naomi Osaka and actor Ryan Gosling, plans to boost prices for most of its watches later this year. The Swiss brand, part of luxury giant LVMH SE, plans increases in April of about 5% to 6% for most timepieces, except smart watches, Chief Executive Officer Frederic Arnault ...

  Bloomberg Hong Kong’s supplies of vegetables and chilled poultry will be affected “to a certain extent” after some vehicle drivers tested positive for the coronavirus, prompting authorities to suspend a border transport interchange, the government said. The facility for goods vehicles was temporarily closed for disinfection and mainland drivers who stayed at the interchange venue on that day are ...

  Bloomberg Walmart Inc will no longer require fully vaccinated employees to wear masks unless required by state or local rules, effective immediately. In addition, a policy allowing five extra days of paid time off for workers testing positive for Covid-19 will end on March 31 as planned, Walmart said. Daily health screenings will no longer be needed for workers, ...

  Bloomberg Thousands of Italian cities shut off power at some of their biggest tourist attractions to protest spiraling energy costs. Municipal authorities from across the political spectrum banded together to highlight their call for 550 million euros ($627 million) in energy-cost relief from the government, as gas and electricity bills have risen by more than 30% this year. Italy ...

  Bloomberg The union organizing Starbucks Corp. employees filed a federal complaint accusing it of illegally firing activist employees, marking a new and more contentious chapter in the efforts to expand labor representation among the company’s workers. In a filing with the National Labor Relations Board, the union, Workers United, said Starbucks violated federal law by firing seven employees at ...

  Bloomberg Dunelm Group Plc, a UK home-furnishings company, is raising prices to protect profits from higher shipping and raw-material costs, adding to the string of bad inflation news for British shoppers. Consumers are already bracing for faster inflation after the Bank of England warned that it could top 7% this year. Tesco Plc Chairman John Allan said this week ...