Upscale fashion brand Michael Kors announced Tuesday the company has agreed to purchase luxury shoe maker Jimmy Choo in a $1.2 billion deal. The move signals Michael Kors' efforts to spur growth and update the company as retail grows more competitive.
Activist investor Sandell Asset Management Corp. is urging Barnes & Noble to sell itself, sources said. As the country's only widespread bookstore chain, Sandell said a sale of Barnes & Noble could bring in more than $12 a share, compared with Monday's $7.10 value.
Lowe's and Home Depot are benefiting as Americans are expected to spend $316 billion this year on home renovations, a record in the category, according to Harvard University's Joint Center for Housing Studies. The trend is being driven by strong demand for single-family homes, rising home prices and an increase in consumer confidence.
Amazon grew from its business-to-customer model to a business-to-business model with Amazon Business in 2015 in the US. It later expanded to the UK and Germany after drawing more than 400,000 businesses and $1 billion in revenue in its first year of operation, said Bill Burkland of Amazon Business UK.
Apple is trying to attract more Apple Pay users in China by advertising discounts and promotions. Apple Pay entered the Chinese mobile payment market, which is controlled by WeChat Pay and Alipay, in 2016 with little success thus far.
Eugenia Kim has seen her career path morph from medical school, to magazines, to selling hats, bags and shoes to celebrities including Jennifer Lopez, Madonna and Michelle Obama. "I learn every year -- every day, really -- and that's why I love my job," she said.
Loyal QVC and Home Shopping Network customers are watching closely as the retailers work through a $2.1 billion merger deal. The deal was announced earlier this month and will bring together different sets of retail profiles and brands.
Share prices of UK retailer B&M increased 4% after reports emerged of Walmart-owned Asda's possible £4.4 billion buyout of the discount retailer. The grocer is considering the takeover to stave off its rivals.
China has seen a lot of growth in online retail sales this year as more consumers choose online shopping, according to China Internet Watch data. E-commerce sales, which make up 18% of the retail market, grew 33.4% in the first six months of 2017 compared to only 10.4% in aggregate consumer goods sales.
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