Retail

Bloomberg John Lewis Partnership Plc’s loss narrowed in the first half as the British retailer’s turnaround efforts started to pay off. The operator of the John Lewis department store and upmarket grocer Waitrose said the 29 million-pound ($40 million) pretax loss came after taking almost 100 million pounds of exceptional costs related to store closures and redundancy payments. This is ...

Bloomberg Dolce & Gabbana (D & G) plans to remain independent to preserve its creative freedom, even as the Italian fashion house claws back sales lost to the pandemic and a bungled ad campaign in China. The privately held label is a favourite of investment bankers looking to drum up interest in a potential deal, but the Milan-based company has ...

Bloomberg Ideal Image, which provides services including laser hair removal, botox and skin lifts, is exploring a US initial public offering, according to people with knowledge of the matter. The company, which is majority-owned by private equity firm L Catterton, is working with advisers ahead of a potential listing that could occur as soon as this year, the people said. ...

Bloomberg French grocer Auchan made a recent approach to acquire rival Carrefour SA for about $19 billion but talks to create the country’s market leader stalled over the terms, according to people familiar with the matter. Auchan had approached Carrefour about a combination that would have seen Auchan, which is owned by the Mulliez family, hold a majority stake in ...

Bloomberg Walmart Inc said “the overwhelming majority” of employees required to get Covid-19 vaccines have received the shots. A “very small percentage” of the US headquarters and regional staff covered by the company mandate are partially inoculated or haven’t gotten the shots, Walmart said in an email without providing specific numbers. Employees who aren’t fully vaccinated can complete the process ...

Bloomberg The number of empty storefronts is surging in midtown Manhattan, where an absence of tourists and office workers has hammered the retail industry during the pandemic. Nearly 30% of 311 storefronts were vacant in the retail corridors near Grand Central and Midtown East as of the end of September, roughly double the historical rate, according to a report from ...

Bloomberg Levi Strauss & Co’s strong quarter is sending a clear message to the rest of the apparel industry: There’s value in spreading out manufacturing. Chief Executive Officer Chip Bergh said the denim maker sources less than 4% of its goods from Vietnam — which has faced factory shutdowns recent due to Covid-19 outbreaks — and tries not to have ...

Bloomberg Activist investor Jana Partners believes Macy’s Inc could boost its valuation by spinning off its e-commerce business. Jana said in an investor presentation that the retail chain could follow the lead of Saks Fifth Avenue, whose owner spun out its e-commerce business. At a similar valuation, Macy’s online business could be worth about $14 billion, Jana said. Macy’s as ...

Bloomberg Walmart has demoted the chief operating officer of its core US business and installed a finance expert in the role, shuffling its senior leadership team just before the key holiday period. Dacona Smith, one of the retailer’s highest-ranking Black executives, will shift to become executive vice president and chief operations officer of Walmart’s US stores, unit Chief Executive Officer ...

Bloomberg Tesco Plc’s boss is putting the finishing touches on a plan to deliver a catastrophe-free Christmas as a deepening supply chain crisis makes it harder for grocers to keep shelves stocked with their full range of products. Chief Executive Officer Ken Murphy said Britain’s biggest supermarket has ordered 10% more turkeys this year and is increasing the number of ...