As the COVID-19 pandemic enters a new phase, Walmart third quarter sales and earnings maintain momentum as consumers turn to it, in store and online, to meet their ongoing needs.
Walmart is selling Asda, the company’s wholly owned U.K. business, for an enterprise value of £6.8 billion, on a debt-free and cash-free basis. The company is selling the chain to the Issa brothers, founders and co-CEOs of EG Group, a global convenience retailer, and investment funds managed by TDR Capital, a private equity firm.
Walmart said that the merger of its subsidiary in the United Kingdom, Asda, with rival retailer Sainsbury, has been blocked by the U.K. Competition and Markets Authority.
Walmart and Advent International have completed Advent’s previously announced investment in an 80% equity stake in Walmart Brazil. Walmart has retained a 20% stake in the business.
Pottery Barn Kids will begin wholesale operations in the United Kingdom with three Pottery Barn Kids branded shop-in-shops at department store retailer John Lewis.
Staples reported a decline in sales during its third quarter, asserting that results were in line with its strategic expectations. The company also agreed to sell its retail business in the United Kingdom to Hilco Capital Ltd.
The United Kingdom has been selected as the Ambiente partner country for 2017, Messe Frankfurt announced at a reception for…