De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
Brampton, Canada
Financial Markets
Hudson’s Bay to Go Private at $1.45 Billion Valuation
The bid comes as investors hope to reinvigorate the fading 349-year-old department-store chain.
Hudson’s Bay to Go Private at $1.45 Billion Valuation
The bid comes as investors hope to reinvigorate the fading 349-year-old department-store chain.
Retail
Catalyst Reveals 16 Percent Stake in Saks Owner Hudson’s Bay
The company is poised to reveal that it owns about 29.4 million shares in Hudson’s Bay Co, having acquired about 18.5 million in July.
Catalyst Reveals 16 Percent Stake in Saks Owner Hudson’s Bay
The company is poised to reveal that it owns about 29.4 million shares in Hudson’s Bay Co, having acquired about 18.5 million in July.
Retail
Hudson’s Bay Chases Relevance
With millennial shoppers keener to buy online or directly from brands, Hudson's Bay has yet to offer something they can’t find somewhere else and risks drifting into irrelevance.
Hudson’s Bay Chases Relevance
With millennial shoppers keener to buy online or directly from brands, Hudson's Bay has yet to offer something they can’t find somewhere else and risks drifting into irrelevance.
Retail
Hudson's Bay to Sell Lord & Taylor to Le Tote for $100 Million
The deal allows the Canadian retailer to divest operations of the struggling Lord & Taylor chain while holding onto the more valuable asset — the real estate on which the stores are located.
Hudson's Bay to Sell Lord & Taylor to Le Tote for $100 Million
The deal allows the Canadian retailer to divest operations of the struggling Lord & Taylor chain while holding onto the more valuable asset — the real estate on which the stores are located.
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Retail
Hudson’s Bay Soars After Private Equity Firm Catalyst Buys Stake
Catalyst’s purchase of a minority stake adds to pressure on Chairman Richard Baker to boost his bid, which also faces opposition from activist investor Jonathan Litt.
Hudson’s Bay Soars After Private Equity Firm Catalyst Buys Stake
Catalyst’s purchase of a minority stake adds to pressure on Chairman Richard Baker to boost his bid, which also faces opposition from activist investor Jonathan Litt.
Retail
Catalyst Capital Seeks $114M Hudson's Bay Stake
The Private Equity firm offered to buy up to 14.85 million shares of the retail group in a bid to oppose Executive Chairman Richard Baker's plans to take the company private.
Catalyst Capital Seeks $114M Hudson's Bay Stake
The Private Equity firm offered to buy up to 14.85 million shares of the retail group in a bid to oppose Executive Chairman Richard Baker's plans to take the company private.
Retail
Hudson's Bay Profit Beats Estimates as Saks Fifth Avenue Sales Rise
Comparable sales at Saks rose almost 4 percent, while total comparable digital sales rose 8.7 percent in the quarter.
Hudson's Bay Profit Beats Estimates as Saks Fifth Avenue Sales Rise
Comparable sales at Saks rose almost 4 percent, while total comparable digital sales rose 8.7 percent in the quarter.
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The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.