In the wake of disasters in Bangladesh garment factories that have claimed hundreds of lives in recent months, shoppers in the west have shown growing concern about worker safety in developing countries. As long as it doesn’t mean an end to bargains.
The Body Shop was ahead of its time in using natural ingredients and getting customers to recycle packaging. Five years after L’Oreal SA paid $1 billion for the retailer, shareholders are still waiting for a payoff.
Billionaire Bernardo Caprotti, the octogenarian founder of Milan-based Esselunga SpA, Italy’s fourth-largest food retailer, held his first press conference in September 2007. A few days earlier, he had told a local newspaper that, more than 50 years after starting the operation with Nelson A. Rockefeller, he was selling out.
Tesco Plc, the U.K.’s largest retailer, said it will exit the U.S. and scale back domestic expansion at a cost of about 2 billion pounds ($3 billion) as it reported the first annual profit drop in almost 20 years.