Zara Billionaire Owner Ortega Buys $550 Million Chicago Tower
Pontegadea Inversiones SL acquired the 51-story One North Wacker in the city’s business district in one of the biggest US office deals this year.
Retail
Analysis and advice from the front lines of the retail transformation.
The BoF Podcast: Inside H&M’s $4 Billion Inventory Challenge
Listen to BoF’s Lauren Sherman and Sarah Kent in conversation with John Thorbeck, chairman of Chainge Capital, as they discuss the challenges of inventory facing H&M, its competitors and the wider fashion industry.
Nordstrom Shares Jump as Founding Family Seeks to Boost Stake
Shares surged 11 percent — the most in nearly a year — following a report that members of the founding family are in talks to increase their stake in the retail chain.
European Malls Are Alive and Well, According to This Market Leader's Latest Results
Europe's largest property firm Unibail-Rodamco Westfield raised its full-year earnings guidance on Wednesday after reporting strong first-half growth in tenant sales at its flagship European and American retail centres.
UK Mall Operator Intu's Shares Slump amid Retail Failures
The selloff in the company's shares also weighed on other mall operators, with European peers and real estate investment trusts trading lower as a result.
Next Shares Hit Highest in a Year After Results Defy UK Retail Gloom
The British retailer raised its outlook after marking down less stock than previously in its popular end-of-season sale and saw stronger demand in July for newer ranges.
Escalating Hong Kong Protests Taking Bigger Toll on Shops
The main retail association has warned members expect a double-digit drop in sales in July and August.
Main Owner of Swedish Retailer Kappahl Bids for Remaining Shares
The clothing store chain is struggling with weak markets and tough competition, with shares dropping by more than a fifth so far this year.
Report: Primark Seeks Rent Cuts After Rival Insolvencies
The fast-fashion retailer is asking for cuts of as much as 30 percent on contracts with several years left in exchange for lease extensions or refurbishments, according to the Sunday Times.
How One Canadian Boutique Is Trying to Beat the Retail Slump
As competitors shut down locations and slash costs, the women’s clothing retailer Aritzia is pursuing an alternate strategy.
How Fashion Brands Strike Gold Outside NY and LA
In the era of the so-called retail apocalypse, many brands outside of fashion capitals are still finding success. BoF outlines how brands from Seattle to New Orleans and Minneapolis have managed to do it.
New York Doubles Down on Tracking Empty Storefront Problem
Business owners across the city have increasingly been forced to close up shop amid soaring rents and competition from e-commerce companies, but just how pervasive is the problem? Local lawmakers are keen to find out.
Barneys Considers Bankruptcy Financing Plans With Wells Fargo
The chain is negotiating the terms of a debtor-in-possession loan that would finance operations while Barneys works out a deal in court with landlords and lenders, according to people with knowledge of the situation.
THE NEWS IN BRIEF
Joe Corré’s Light House Club Launches Pop-Up Spaces for Emerging Designers
Independent creatives can apply to utilise pop-up spaces at Light House to sell merchandise and meet with clientele.
Shein Outsells British Rival Asos as UK Revenue Hits $3.41 Billion
The ultra-fast fashion company said sales had been bolstered by marketing partnerships with music festivals, a pop-up shop on London’s Oxford Street and local Christmas gift events.
Gap to Use Athleta Leader’s Exit to Rebuild Slumping Brand
The departure of Athleta’s CEO for Lululemon is a chance to ‘reimagine the brand’s path forward,’ Gap Inc. CEO Richard Dickson wrote in an internal memo viewed by Bloomberg.
Harvey Nichols’ Birmingham Store Will Close in January
The department store’s Leeds and Bristol outlets will be converted to the Flannels brand in a shake-up under Mike Ashley’s Frasers Group, which purchased the chain when it was put into administration in mid-August.
Lululemon Hires Athleta Head in Management Shakeup
Maggie Gauger is joining Lululemon as chief product officer as new CEO Heidi O’Neill looks to revive sales.
Levi’s Growth Slows After Marketing Misstep
The company lost out in its third quarter because of a decision to market baggy jeans over low rise, but still raised its sales outlook for the year.
Fast Retailing Annual Profit Jumps 32%, Beats Expectations
The Uniqlo owner hit a new record annual profit for the fifth year in a row, boosted by strong results in all regions.