Shareholders of Westfield Corp voted in favour of a $16 billion takeover offer from Unibail-Rodamco, Westfield Chairman Frank Lowy said on Thursday, closing the biggest takeover offer of an Australian company on record.
The South African retailer has repaid about 2 billion euros ($2.34 billion) of its debt in Africa after its local unit used the proceeds of a fundraising to pay back 16 billion rand ($1.26 billion) in shareholder loans.
Target Corp’s first-quarter profit came in below analyst estimates as price cuts, higher wages and investments in its online business ate into margins, sending shares down 5 percent in afternoon trade on Wednesday.
Eddie Bauer and Pacific Sunwear of California are exploring a merger to consolidate their store footprint and weather a prolonged downturn in the U.S. brick-and-mortar retail sector, sources said on Wednesday.
The Columbus, Ohio-based apparel group reported an 8% rise in sales in Q1 2018, driven by strong comps at Bath & Body Works, but saw net income fall by half, leading the company to revise down its full year outlook.
Following declining sales, Johnson & Johnson has relaunched its Baby Care line, including its controversial talc products, despite the fact that a number of studies have linked the mineral to a risk of developing cancer.
Mothercare has decided a management buyout is "100 percent not" an option in the future, a source familiar with the matter said on Wednesday, after Bloomberg reported that its CEO had proposed one earlier this year.
Ralph Lauren Corp on Wednesday reported a higher-than-expected quarterly profit, as the luxury apparel maker's move to pull products off department store shelves and sell more products at full-price boosted margins.
Tiffany & Co’s first-quarter earnings handily beat analysts’ estimates on Wednesday, boosted by stronger sales of its high-end jewelry, leading the company to raise its annual sales and profit forecasts.
UK designer resale website BuyMyWardrobe has merged with HEWI London (Hardly Ever Worn It) as resale grows but competition gets tougher. It also comes as resale sites expand faster than the overall retail sector.
Fruit of the Loom is moving its HQ ops out of the UK with 70 jobs to be lost as a result. The US-based company is relocating manufacturing to mainland Europe and to North Africa as it optimises its supply chain.