FINANCE

Wal-Mart Stores is still considering a possible entry into the food retail market in India.   With new rules  allowing for  100% foreign ownership of food retailers selling goods produced in India, Krish Iyer, the president and CEO of Wal-Mart India, a wholly-owned subsidiary of Wal-Mart, said the chain is “evaluating” the guidelines, reported The Economic Times. His answer came in response to a question as to whether Walmart was planning on entering the market.  

A slump in consumer prices helped to keep retail sales in check in March.   Retail sales in March inched up 0.3% over February, according to the National Retail Federation. (The NRF numbers exclude automobiles, gasoline stations and restaurants.)   “Various factors were at play in the first quarter, but we are again seeing a pattern similar to previous years — consumer spending was weak but is expected to pick up as we move through the year,” said NRF chief economist Jack Kleinhenz.

The retail industry is ramping up its efforts against House Republicans’ proposed border-tax proposal.      The National Retail Federation has launched the next phase of a television and digital ad campaign against the tax, which is included in the House Republican tax reform plan.   The campaign features three small retailers who tell their own stories and convey their fears that the BAT would put them out of business.   

Destination Maternity Corp. saw its loss widen in the fourth quarter and the full year amid declining same-store sales and its exit from several businesses.     The maternity clothing retailer reported a loss $32.8 million, which included a $27.8 million non-cash income tax charge. Its adjusted net loss was $3.2 million, compared to an adjusted net loss of $1.5 million in the year-ago period.   Revenue totaled $100.2 million in the period. Same-store sales fell 7.8%.   

Toys “R” Us is combining its business in Japan with its ones in Greater China and Southeast Asia.   In a joint venture between the toy retailer and Fung Retailing Limited, Toys “R” Us, Japan, which operates 160 stores in the country, will become part of Toys “R” Us, Asia Ltd., which operates 223 stores in Greater China and the Southeast Asia markets and licenses an additional 34 stores in the Philippines and Macau.     

An array of private equity firms are interested in The Body Shop.   The beauty retailer, which is owned by cosmetics giant L’Oreal, has drawn bids from around 15 private equity firms and companies, including Bain Capital, CVC Capital Partners, Carlyle Group LP and South Korea’s CJ Group, Bloomberg reported.   

Amazon Jeff Bezos is certainly not sitting back and relaxing in his company’s success.      As his annual letter to shareholders reveals, Bezos is spending a lot of time thinking how his company can remain vibrant and successful. The letter repeats a theme that the executive brought up in his letter last year: how to keep alive the animal spirits that led Amazon to greatness, reported the Seattle Times.  

Toys “R” Us reported declines in same-store sales for its fourth quarter and full year amid a highly competitive environment.