Company news from across global commerce: M&A, leadership changes, earnings, and corporate strategy.
General Mills reported a $2.1 billion fourth-quarter operating loss on non-cash goodwill and Brazil charges, even as adjusted operating profit rose 13 percent in constant currency. The July 1 results point to flat volumes, a cost-savings drive, and fresh pressure on grocery shelves from private label.
MINISO authorized a fresh HK$2 billion (about USD 255 million) share repurchase program that begins June 30, telling investors its stock trades below intrinsic value. The move follows a year in which the Chinese variety-store group nearly exhausted a prior buyback while its New York-listed shares fell toward a 52-week low.
Wise FY26 results show cross-border volume up 31% to $243.5 billion as the company cut its take rate to 0.52%. Net revenue rose 19% to $2.5 billion and pre-tax margin reached 26%, the first full year since its Nasdaq move.
H&M’s first-half report showed second-quarter operating profit rising 11% to SEK 6.6bn, with the margin reaching 12% before one-time costs, ahead of analyst forecasts. Net sales were broadly flat in local currencies as the retailer kept closing stores and tightened inventory.
AO World’s full-year results show revenue up about 11% to roughly £1.26bn and adjusted profit near £50m. Founder John Roberts says the online electricals retailer is just getting started on a five to 10 year plan.
Debenhams Group, the retailer formerly known as Boohoo, narrowed its annual pre-tax loss to £108m and lifted adjusted EBITDA to £53m for the year to February 2026. The results confirmed its shift to an online marketplace model is restoring profitability, and that PrettyLittleThing will stay in the group after returning to profit.
Debenhams Group, still legally Boohoo, has subleased its idle 1.1 million square foot US distribution centre to ID Logistics. The deal triggers a £40m non-cash credit and mitigates roughly $100m of future lease costs.
Driven Brands beat first-quarter 2026 estimates with revenue up 8% to $484.4 million as Take 5 Oil Change logged a 23rd straight quarter of same-store growth. Shares rose as the company reaffirmed full-year guidance and pressed on with deleveraging.
Chewy beat first-quarter profit estimates with net sales up 7.7% to $3.36 billion and 21.5 million active customers. But the online pet retailer cut its 2026 sales outlook, citing cooler consumer spending, and the stock slipped.
J.Jill’s first-quarter fiscal 2026 sales fell 6% to $144.4 million and net income more than halved as tariffs squeezed gross margin to 68.3%. The women’s apparel brand reaffirmed its full-year outlook while trimming planned store growth and capital spending.