Retail

Bloomberg China’s plan to reform its consumption tax system will likely entail a hike in rates on luxury goods and products that use high energy or generate significant pollution, according to analysts at China International Capital Corp (CICC). The changes will be focused in areas aligned with China’s goals of reaching carbon neutrality and “common prosperity,” CICC analysts led by …

Bloomberg Amazon.com Inc warned Wall Street that it will have to spend billions of dollars hiring workers, paying them more and even speeding partly empty trucks to their destinations to ensure that supply-chain snarls don’t derail the holiday shopping season. The massive outlays could wipe out Amazon’s profit during the last three months of the year, executives said. The company …

Bloomberg AllDay Marts Inc, a supermarket chain founded by the richest person in the Philippines, is poised to jump in its trading debut thanks to heavy retail investor interest. AllDay’s offer was about four times oversubscribed, with the company and billionaire Manuel Villar raising a combined 4.52 billion pesos ($89 million) by selling 7.52 billion shares at 60 centavos each. …

Bloomberg Aldi warned that the impact of global supply-chain bottlenecks will soon hit the shelves of its US grocery stores. “When you shop our aisles in the coming weeks and months, you may notice certain items arriving later than intended or after our advertised on-sale dates,” the German discounter said. Aldi’s warning underscores the intermittent shortages and delays that are …

Bloomberg Skechers USA Inc is considering strategic options for its Asia business, people with knowledge of the matter said. The Manhattan Beach, California-based shoemaker has held preliminary talks with advisers to evaluate possibilities including a Hong Kong initial public offering of the business, said the people, who asked not to be identified as the information is private. An IPO could …

Bloomberg Shoemaker Allbirds and its existing shareholders are seeking to raise up to $269 million in an IPO, adding to a fast-paced season for consumer-oriented listings in the US The San Francisco-based company is marketing 15.4 million shares for $12 to $14 each, according to its filing with the US Securities and Exchange Commission. Existing backers are selling an additional …

Bloomberg Thrasio Holdings Inc, an aggregator of Amazon.com Inc products, has raised more than $1 billion in a private funding round led by technology investor Silver Lake. Silver Lake, a new investor in Thrasio, was joined by existing investors including Advent International, Upper90, Oaktree Capital Management and Peak6 in the Series D financing, according to a statement. The round valued …

Bloomberg Walmart Inc is about to start calling its corporate staff back to the office after more than a year and a half of remote work during the coronavirus pandemic. “We will transition to working together in our campus offices on a more regular basis starting the week of November 8,” Chief People Officer Donna Morris said in a statement. …

Bloomberg Kering SA shares tumbled after slowing growth at Gucci, its biggest brand, put more pressure on the label’s new collection to deliver a strong holiday season. Comparable sales at the Italian brand rose 3.8% in the third quarter from a year earlier, Kering said in a statement. Analysts had forecast a 9.3% increase. The performance suffered from virus restrictions, …

Bloomberg Luxury retail chains are losing their once-iron grip on Hong Kong’s shopping streets, as Covid-19 keeps visitors away and forces the city to shift towards restaurants catering to residents. Across the Asian financial hub, one in five shops targeting mainly Chinese tourists and selling jewellery, medicine, cosmetics, clothing and leather goods has closed since the third quarter of 2018 …