Retail

Bloomberg Siam Makro Pcl surged as much as 24% after Thailand’s biggest operator of cash-and-carry stores announced a plan worth about 218 billion baht ($7 billion) to take control of retailer Lotus from other affiliates of the Charoen Pokphand Group. The share-price gain was the biggest since August 2013, with the deal leading to Siam Makro taking a 76% stake ...

Bloomberg Steinhoff International Holdings NV said US bedding chain Mattress Firm is considering a public share listing as a means of returning cash to shareholders. The move is one of a number of options being weighed and a final decision hasn’t been made, Steinhoff said in a statement. The South African retailer, which came close to collapse following an accounting ...

Bloomberg Private equity firm Bain Capital is nearing an agreement to acquire a significant stake in e-commerce company Berlin Brands Group, people with knowledge of the matter said. Bain was expected to announce a deal as soon as Wednesday to buy Ardian’s holding of more than 40% in the business, the people said, asking not to be identified because the ...

Bloomberg Japanese department store operator H2O Retailing Corp said on Tuesday it will increase its stake in grocery store owner Kansai Super Market Ltd and make it a subsidiary. H2O said in a statement that it will buy newly-issued and existing shares from Kansai Super Market until it owns a 58% stake in the company, which will remain listed. H2O ...

Bloomberg Digital-first jewellery company Brilliant Earth Group Inc filed for an initial public offering, leading a flurry of planned listings. The San Francisco-based company in its filing listed the size of the offering as $100 million, a placeholder that will change when terms of the share sale are set. Amplitude Inc, saying it’s pioneering a new category it calls digital ...

Bloomberg Hong Kong’s retailers saw consumption growth slow more than expected in July as social distancing measures to control the virus continued to constrain spending and local shoppers awaited the arrival of electronic vouchers the following month. Retail sales value was HK$27.2 billion ($3.5 billion), up 2.9% from a year ago, according to a government report. That’s well short of ...

Bloomberg Nordstrom Inc fell the most since the early days of the Covid pandemic after quarterly results showed it’s recovering more slowly than other retailers. While second-quarter sales at the Seattle-based department-store chain doubled from a year ago, they remain 6% below the 2019 level. That contrasts with results from peers such as Macy’s Inc and Kohl’s Corp, which have ...

Bloomberg Ulta Beauty Inc raised its sales outlook after second-quarter results topped expectations, reinforcing that cosmetics demand is on the rise amid easing pandemic restrictions. The retail chain now sees sales of as much as $8.3 billion this year, Ulta said, up from a previous forecast of no more than $7.8 billion. The company also said the key gauge of ...

Bloomberg Gap Inc topped Wall Street’s expectations with its second-quarter results and increased guidance for the full year, highlighting the recovery for apparel retailers from the early-pandemic slowdown. The San Francisco-based company now sees adjusted earnings per share of $2.10 and $2.25, with net sales up about 30% compared with last year, it said. The apparel maker in May had ...

Bloomberg Best Buy Co rose after it raised its full-year sales outlook on continued strong demand for its gadgets and services. The key metric of US same-store sales rose 21% in the second quarter, the retailer reported in a statement. That’s above the 18.4% average estimate from analysts compiled by Bloomberg. It now sees companywide same-store sales growing in a ...