Retail

Bloomberg Simon Property Group Inc agreed to buy rival US shopping-mall operator Taubman Centers Inc for about $3.6 billion, a combination that comes as e-commerce continues to roil brick-and-mortar retail. Simon will pay $52.50 a share in cash for all of Taubman’s common stock, the companies said in a statement. That’s about 51% more than Taubman’s closing share price on ...

Bloomberg JD Sports Fashion Plc’s purchase of Footasylum may harm competition and leave shoppers worse off, the UK’s antitrust regulator said. The UK’s Competition and Markets Authority (CMA) said its provisional view is that the transaction could lead to “a substantial lessening of competition in the retail supply of sports-inspired casual footwear.” The regulator, asked for feedback on its findings. ...

Bloomberg Ocado Group Plc forecast retail revenue growth of as much as 15% this year as it starts to sell products from Marks & Spencer Group Plc and sets up the first of its robot-run delivery systems for supermarkets abroad. The UK online grocer says it’s on track to launch its joint venture (JV) with M&S in September and open ...

Bloomberg Britain’s largest supermarket chain Tesco Plc is inviting Thai tycoons to the second round of bidding for its operations in Thailand and Malaysia that could fetch more than $7 billion, according to people with knowledge of the matter. Thai billionaire Dhanin Chearavanont’s Charoen Pokphand Group and Central Group, controlled by the Chirathivat family, were picked to proceed with deadline ...

Bloomberg Tapestry Inc rose after posting strong sales at its Coach brand while the struggling Kate Spade unit’s results weren’t as bad as expected. Still, the company said its full-year forecast will be negatively impacted by the coronavirus. Coach same-store sales grew 2% worldwide in the second quarter, topping the 1% average of analysts’ estimates, according to Consensus Metrix. Kate ...

Bloomberg Luxury conglomerate Tapestry Inc appointed Liz Fraser as the new head of its beleaguered Kate Spade brand after the departure of Anna Bakst at the end of the year sparked a search for a new executive. Fraser starts as CEO of Kate Spade on March 1 and will take over from Joanne Crevoiserat, Tapestry’s chief financial officer who held ...

Bloomberg Hermes International unveiled its first products from a new beauty division, adding $67 lipsticks to a brand better known for $9,000-plus Birkin bags and $400 silk scarves. By expanding its offer in cosmetics, Hermes is testing the waters of a category that has long driven sales and profit for rivals like LVMH’s Christian Dior and Chanel. Hermes, which says ...

Bloomberg In an almost deserted mall, the few shoppers hurry past wearing face masks. In the luxury stores, sales assistants, also in masks, outnumber customers — if they have any at all. To pass the time, staff chat with each other or play with their phones. This isn’t a scene from some dystopian movie. Instead, in Hong Kong’s usually bustling ...

Bloomberg Macy’s Inc plans to close 125 of its least productive department stores — almost a quarter of the total — over the next three years and cut about 2,000 jobs as part of a large restructuring. The stores, including 30 that are already in the process of being closed, account for about $1.4 billion in annual sales, the company ...

Bloomberg A group including two of Forever 21 Inc’s biggest landlords has offered to buy the bankrupt retailer for $81 million, a fraction of what the international fashion pioneer was once worth. The consortium of Simon Property Group Inc, Brookfield Property Partners LP and Authentic Brands Group LLC is seeking to buy substantially all of the company’s assets, according to ...