The News In Brief
Blackstone In Talks to Acquire Retail Opportunity Investments Corp, Sources Say
The private equity firm is in advanced talks to acquire ROIC which owns over 90 shopping centres in the US, according to people familiar with the matter.
Pioneering Indian Designer Rohit Bal Has Died
Marrying traditional patterns and craftsmanship with modern sensibilities, Bal’s designs were popular with Indian society and celebrities.
Boohoo Rejects Mike Ashley as CEO, Appoints Debenhams Boss
The shares advanced after the British fast fashion company said on Friday that Dan Finley will replace John Lyttle as CEO with immediate effect.
AI Models Replace Real People in Mango’s Fast-Fashion Ads
The retailer’s use of AI goes beyond marketing and advertising. The technology is also helping the company design collections, providing inspiration for fabrics and more.
EBay Falls After Projecting Lackluster Holiday Season Sales
The company saw its shares tumble indicating ongoing challenges against larger competitors despite a 3 percent revenue increase in the third quarter.
Estée Lauder Withdraws Guidance, Cuts Dividends on China Uncertainties and New CEO
The embattled cosmetics group has pulled its fiscal 2025 outlook and amended its dividend payouts citing continued headwinds in China and its incoming new leadership, sending its stock down 16 percent.
Skincare Label Dieux Appoints New CEO
Ryan Scott will replace co-founder Charlotte Palermino, who will become chief brand officer.
Exclusive: Next Launches Luxury E-Commerce Site ‘Seasons’
The UK retail giant is tapping into the luxury e-commerce market with a dedicated site for higher-end brands.
Temu to Face EU Probe Over Handling of Illegal Product Sales
The probe could lead to large fines for the e-commerce platform.
Jumia, Turkey’s Hepsiburada Plan Africa E-Commerce Growth Push
The Africa-focused online retailer and Turkey’s Hepsiburada have partnered to expand their offerings across Africa, starting with Egypt and Morocco.
US Shippers Avoid East Coast Ports on Risk of Second Strike
US shippers are avoiding East and Gulf Coast ports over fears of a potential dockworker strike by January 15, leading some companies to reroute shipments to the West Coast.
Next Raises Outlook Again With Profit Set to Top £1 Billion
Next Plc has raised its profit guidance for the third time this fiscal year, now expecting over £1 billion in annual pretax profits, driven by strong sales despite declining consumer confidence ahead of tax hikes.