Hammerson is to slash rents for its retail tenants by around 30% as UK stores reopen post-Lockdown 3. UK & Ireland MD Mark Bourgeois said that “typically, we're resetting our rents to more affordable levels”.
Studio Retail is no longer for sale. The company has received plenty of interest in the business, but said its recent strong trading suggests that it can create greater value for shareholders as a pureplay retailer.
Ant Group is eyeing options for Jack Ma to divest his stake in the firm and give up control, as meetings with Chinese regulators signaled that the move could help draw a line under Beijing's scrutiny of its business.
American Eagle Outfitters Inc on Wednesday forecast first-quarter revenue of more than $1 billion as strong demand helped the apparel retailer sell more products of its eponymous and Aerie labels at full price.
Walmart Marketplace grew to an estimated 70,000 sellers in 2020, fueled by a surge in online shopping due to Covid-19 and a series of investments in technology and vendor relationships reported here for the first time.
During its annual general meeting, the French luxury giant highlighted its "remarkable resilience" during the pandemic and claimed to be well-positioned for strong growth in 2021, thanks particularly to Tiffany & Co..