Asda, the British supermarket arm of Wal-Mart, is to cut 300 jobs at its offices in Leeds, northern England, and Leicester, central England, seeking to cut costs to stay competitive, it said on Wednesday.
Hudson’s Bay activist shareholder Land and Buildings said on Wednesday it believed a highly qualified third-party buyer had “serious interest” in acquiring Galeria Kaufhof, the department store operator’s European chain.
Sports e-commerce firm Fanatics has closed a $1 billion funding round led by SoftBank Group Corp’s Vision fund, which will give it the firepower to expand internationally, Chief Executive Doug Mack told Reuters.
The virtual model specialist, whose clients include La Redoute and Showroomprivé, said it has raised 3 million euros in a funding round lead by French investors. The Chinese firm also confirmed its relocation to Paris.
The Hut Group has gone acquisition crazy with the latest target of its buying spree being skincare and spa brand Espa, according to reports. The company is believed to be acquiring the brand for aorund £100m.
According to a study conducted by Edited, sales of luxury accessories surged in the first half to the detriment of designer clothes, which are losing their luster in a market flooded with cheap fast fashion copies.
Private equity giant Blackstone Group has called off the sale of its $2.8 billion (USD) Australian shopping mall portfolio, a source said, as the looming arrival of Amazon spooks buyers of bricks-and-mortar stores.