Macy’s Inc cut its annual profit forecast for the second time this year on Thursday, blaming weak international tourism, warm weather and sluggish mall traffic for the first drop in same-store sales in two years.
French luxury group LVMH has persuaded U.S. jewelry chain Tiffany & Co to provide it with confidential due diligence after it raised its bid to close to $16 billion, people familiar with the matter said on Wednesday.
Private equity firm Catalyst Capital Group Inc is seeking financing for a bid for Saks Fifth Avenue owner Hudson’s Bay Co that would top a C$1.9 billion ($1.4 billion) deal the retailer reached last month.
Britain’s Hut Group has grown remarkably fast over the past decade, and it hopes the launch of two new debt facilities will give it the further boost it needs to become the global leader in online beauty.
Rinaldi became co-chief operating officer of the luxury retail group alongside Manju Malhotra in 2017. Malhotra will remain in her role, working alongside the management board to ensure the group continues to thrive.
The Spanish group’s The Style Outlets in Amsterdam is now 80% leased out, as Neinver also started work on the Alpes outlet centre in France, and the Vicolungo centre in Italy is undergoing a €9 million facelift.
It is hard to imagine a more venerable luxury brand than Cartier, which has a reputation for artisanal excellence second to none. Yet, the majority of its audience is that lodestone of modern marketing, millennials.
Chanel has pushed up the date of its next Métiers d’Art show, as Paris braces for a new series of transport strikes in December. Originally scheduled for Thursday, December 5, but now advanced to Wednesday, December 4.