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FINANCE

  • Wal-Mart increases stake in Chinese e-commerce giant

    Wal-Mart Stores keeps upping its investment in JD.com.   The discounter has increased its stake in the Chinese online company to 12.1%, (worth about $4.87 billion), from the 10.8% stake it had in October, and the 5.9% stake it had in June of last year, according to a report by Business Insider.  

  • Kroger buys iconic New York specialty grocer

    The Kroger Co. has acquired a New York City-based retailer of specialty cheeses and meats.   The supermarket giant has purchased Murray's Cheese, which was founded in 1940. Financial terms of the deal were not disclosed.    Kroger also bought the three Greenwich Village retail condominium units that house Murray’s home base. The five-story, 22,000-sq-ft. building, which is also home to a bakery, was owned by Murray’s Cheese.    

  • U.K. retailer set to acquire Nasty Gal

    After all was said and done, the formerly high-flying and now bankrupt Nasty Gal had only one suitor.   Online British fashion retailer Boohoo moved a step closer to acquiring the Los Angeles-based fashion brand after no other qualifying bidders came forward.  

  • Gap surprises in January

    Gap Inc. reported higher than expected sales for January and the fourth quarter, fueled by strong increases at Old Navy.    The retailer reported that net sales for the four-week period ended January 28, 2017 increased 2% to $828 million.    Total same-store sales for the month rose 1%, led by a 3% gain in the namesake brand and a 2% increase at Old Navy. The ailing Banana Republic continued to slump, with a 4% decrease.   

  • Parent of discount chain and sports brand files Chapter 11 — again

    Eastern Outfitters, the parent company of Eastern Mountain Sports and Bob’s Stores, has filed for Chapter 11 bankruptcy protection.     The company listed assets and liabilities in the range of $100 million to $500 million in its filing        British sporting goods retailer Sports Direct International has engaged in extensive talks with Eastern Outfitters to become a stalking-horse bidder in a bankruptcy auction, Reuters reported.    

  • Analysis: Amazon Q4 — Prime is the big story

    While it missed some analysts’ aggressive $44.7 billion quarterly revenue estimate, Amazon continues to record solid growth. Fourth-quarter sales were up 22% year over year to $43.7 billion. The retailer also maintained profitability throughout 2016, indicating that the flywheel continues to accelerate, especially in North America.   

  • Report: Alibaba set to hold stake in Paytm e-commerce spin-off

    Alibaba Group Holding Ltd. is making a new strategic investment — one that will up the ante in the hyper-competitive e-commerce marketplace.  

  • Teen retailer files for Chapter 11 — again

    The Wet Seal has filed for Chapter 11 bankruptcy protection for the second time in a little over two years.   The move comes after the struggling teen apparel retailer said it planned to close all its stores after it was unable to find a buyer or fresh capital.  The company’s website is still selling merchandise, with all goods discounted.     
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