Hudson’s Bay Co shareholder Paradise Developments on Wednesday became the latest investor to oppose Chairman Richard Baker’s C$1.74 billion take-private offer for the department store operator, calling it inadequate.
It started as a simple sales promotion, but Amazon's Prime Day has now morphed into a major phenomenon joined by scores of retailers jockeying with the US colossus for a bigger slice of the e-commerce pie.
Two weeks after news surfaced that the teen fashion retailer was exploring a range of options to turn its business around, Forever 21 has reportedly hired a restructuring advisor in the hopes of averting bankruptcy.
Kering's shares fell by nearly 6 percent on Thursday after signs of a slowdown at the French fashion company's Gucci brand, particularly in the United States, took the shine off a broader rise in sales.
Department store company Ross Stores, Inc. has announced the resignation of Michael O’Sullivan, president and chief operating officer since 2009, from the company and its board of directors, effective immediately.
Manchester-based The Hut Group has increased its bank borrowing to $1bn (about £766m) and welcomed Shanghai Pudong Development Bank as an investor to support “major investments in beauty, technology and infrastructure”.