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.
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.
At a time when every major luxury group wants to buy a niche perfume brand, few indie scent houses have been performing as enticingly as Memo International - whose three marques are all rapidly expanding worldwide.
British retailer Arcadia Group will name the former head of De Vere hotel and leisure group Andrew Coppel as the chairman, Sky News reported on Wednesday. He will replace Jamie Drummond Smith on Thursday.
The jewelry retailer announced on Monday that its SVP and chief merchandising officer, Pamela Cloud, will be stepping down from her position, and also revealed that it is creating the new role of chief brand officer.