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.
Why Muji Is Struggling
The retailer is one of a small crop of Japanese brands that have succeeded in winning a worldwide following.
Old Mutual Backs South African Retailer Footgear’s Acquisition Plans
The plan to buy Edcon’s Edgars Active and High Key assets will create one of Southern Africa's largest sports and casual wear businesses.
Sports Direct Slumps as Retailer Delays Results on Auditing
Shares headed toward a seven-year low after the sportswear retailer delayed publishing its results as auditors increase their scrutiny of its accounting.
Can Foot Locker Be Cool?
How one of the world’s biggest athletic footwear retailers stumbled through the sneaker boom, but plans to catch up with the market.
Walmart's Online Unit Hunts for New Executive as Losses Pile Up
While the retail giant's online business has been growing, it continues to be in the red, with expected losses of about $1.7 billion this year.
Revolve's Soaring IPO Creates $1.5 Billion Fortune for Founders
Shares of California-based e-tailer have more than doubled since its June listing, giving it a current market value of about $2.7 billion.
Op-Ed | Zara's Hot Polka Dot Dress Beats Big Data
With other retailers finally catching up to Inditex's super fast supply chain, the world's biggest fashion retailer will have to rely on its ability to spot trends and make blockbuster items to maintain its competitive edge.
American Eagle to Start Selling Cannabis-Based Products
The apparel retailer will sell CBD-infused lotions, muscle balms and aromatherapy products later this year.
Walmart Workers Rebel Against Retailer’s Automation Push in Chile
About 17,000 Walmart workers in Chile went on an indefinite strike on Wednesday after labour talks between the company and the union failed.
Marks & Spencer CEO Fires Clothing Boss Following Poor Results
Jill McDonald, clothing, home & beauty managing director, is leaving the business after less than two years in the job, with group chief executive Steve Rowe taking over leadership of the division.
Uniqlo Owner's Profit Falls Short Despite Gains in China
Fast Retailing Co.’s weak performance in Japan overshadowed a strong showing in its overseas markets, particularly China.
World Trade Center Mall Has a Plan to Get You to Stick Around
With visitors only spending an average of about half an hour at the mall, its operator plans remain relevant with more food choices, seating, pop-up shops, health and wellness options and entertainment.
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.