Hudson’s Bay Retail Chain to Terminate More Than 8,300 Workers by Sunday
Canada’s oldest retail chain will lay off 89 percent of its workforce by Sunday, when it will conclude its liquidation sale and shutter all stores.
Hit hard by President Trump’s trade war and volatile markets, some publicly traded retailers are increasingly considering offers to sell to private equity.
Dick’s Sporting Goods’ acquisition of Foot Locker will have impacts on the rest of the industry, from brands such as Nike and Adidas to rival retailers like JD Sports.
Dick’s Sporting Goods’ surprise purchase of Foot Locker sets it up to be a major new player in the global sneaker market — if it can execute on its vision.
The German e-tailer’s ability to outperform a broader luxury slump was challenged by uncertainty in the US in its fiscal quarter that ended in March — a minor setback as it seeks to become a leader in online luxury.
ADVERTISEMENT
The two digitally-native brands will sell their products across both sites as the combined company aims to reach $100 million in annual sales in the next three to five years.
The comfort sneaker brand’s $63-per-share acquisition by the Brazilian private equity firm 3G shocked both the fashion and financial worlds.
The deal marks Dame’s second acquisition in the last year as the $125 vibrator seller seeks to grow market share in the sexual wellness sector.
Employees at Boots are fearful of what Sycamore Partners’ takeover of Walgreens Boots Alliance means for the future of the UK-based chemist, The Guardian reports.
ADVERTISEMENT
Prada plans to invest an additional €250 million in relaunching Versace, which has struggled to keep up with bigger heritage brands since selling to Michael Kors parent Capri Holdings in 2018.
Amid reports that the De Giglio-backed, Hailey Bieber-fronted brand Rhode is exploring a sale for more than $1 billion, the stealthy operator-turned-investor speaks for the first time about his bets in beauty — and his return to fashion.
Amid reports that the De Giglio-backed, Hailey Bieber-fronted brand Rhode is exploring a sale for more than $1 billion, the stealthy operator-turned-investor speaks for the first time about his bets in beauty — and his return to fashion.
A deal would create a group with a broader base that is more resistant to business cycles, but turning Versace around could take years and hit short-term profits.
Talks between Prada and Versace owner Capri are progressing and could results in a deal in March, Bloomberg reports.
Canada’s oldest retail chain will lay off 89 percent of its workforce by Sunday, when it will conclude its liquidation sale and shutter all stores.
The brand cited headwinds in web3 and softness in the luxury market for its decision in an announcement Tuesday.
Despite price slashing from retailers and government stimulus measures to boost consumer spending, the e-commerce company's year-on-year net income fell 47 percent.
Swiss watch exports to the US saw a significant increase in April, driven by a surge in shipments ahead of anticipated tariff hikes.
Italian legal and political authorities, trade unions and fashion industry parties signed a non-binding action plan focussed on the creation of a database of brands’ suppliers and their workforces, after prosecutors uncovered widespread abuse.
The EU has ordered Shein to address consumer law breaches within one month or face potential fines.
The US president told reporters the decision to push the deadline came after he had a ‘very nice’ phone call with Commission President Ursula von der Leyen.
The mass brand will raise prices in August.