With coronavirus-related trade restrictions being eased, South African retail holding company Massmart experienced an 8% rise in sales during the 19 weeks ended May 9. The company, which is partly owned by U.S. retail giant Walmart, generated 30.5 billion rand ($2.17 billion) in sales, the equivalent of an 8.54%...
Thai fashion e-commerce startup Pomelo plans to offer its analytics and demand forecast technology to other fashion brands in the region, its chief executive recently announced. This comes as an effort to boost revenue for the company amid slowing physical store sales.
Pomelo chief executive David Jou stated during an...
British multinational consumer goods company Reckitt Benckiser Group Plc agreed to sell its Chinese baby formula business to Primavera Capital Group for a price tag of $2.2 billion. This comes as the Slough, England-based company seeks to exit from the sector which is currently taking the strain.
Reckitt revealed in...
German conglomerate Siemens announced on Thursday its newest growth targets, in line with the corporation's aim to "clearly outpace the market." This is the first step to be made as part of a new strategic blueprint by the new Chief Executive Officer Roland Busch, who took the reigns from...
The Fortress Investment Group, comprised of the likes of a SoftBank subsidiary and the American billionaire Koch family, is pursuing a private equity takeover of Wm Morrison Supermarkets Plc, the United Kingdom's fourth-largest supermarket chain. Despite leading the charge, this group faces the challenge of convincing Morrison stakeholders, customers,...
With Beijing tightening its oversight on some of China's biggest tech firms, Xiaomi has made a bid to market a dollar bond deal to international investors. The tech firm is looking to raise $1 billion from this effort, which would include a rare green bond tranche.
Prior to beginning...
Taiwanese company Pou Chen Corp halted operations at its plant in the Vietnamese capital of Ho Chih Minh City last wek as a result of COVID-19 concerns. The factory, which produces footwear for Nike and Adidas, took the decision as COVID-19 cases continue to surge in Vietnam's business hub.
Vietnam's...
As demand gradually returns to pre-coronavirus levels, Coca-Cola has reevaluated both its full-year sales and profit forecasts. Currently, an increase in demand is being fueled due to the reopening of restaurants, stadiums, theaters, and the resumption of public gatherings and events.
With the U.S. economy showing consistent signs of recovery,...
