J.C. Penney Company, Inc. has announced that it has reached an agreement in principle to sell JCPenney through a court-supervised sale process to Brookfield and Simon for 1.75 billion dollars, which includes a combination of cash and new term loan debt. “We have determined that an agreement with Brookfield […]

New York – Men’s clothing retailer END. has sustained growth over the summer months, registering a 26 percent increase in turnover. The company has also announced it’s expanding its staff with the hiring of over 150 new members. The British retailer, which owns physical stores in Newcastle, London and […]

Philipp Plein, the Switzerland-based maximalist brand known for its more-is-more aesthetic, is to exit wholesale and focus on the end customer. The company recently closed a 3,000sqm space in Milan that served little more than the purpose of presenting its wholesale collections and cost the business […]

New York – The Scotland-based fashion brand QUIZ reported Wednesday a substantial drop in sales for the five-month period ending August 31. During that time, QUIZ registered 12.8 million pounds in sales, a 77 percent decline on the 55.2 million pounds revenues generated from 1 April to 31 August 2019. […]

New York – The British fast-fashion retailer warned Wednesday that it could be forced to consider “less favourable alternatives”, including liquidation, if they failed to convince creditors to back its business turnaround proposals. So far, about 10 landlords, including the owners of large shopping […]

Burberry has announced plans to issue a sustainability bond to fund social and environmental improvements. It is the first luxury brand to do so in a bid to attract ethical investors. Proceeds from the fund will be used to finance eligible projects listed under Burberry’s new Sustainability Bond Framework […]

American Eagle Outfitters, Inc. has reported EPS of negative 8 cents for the 13 weeks ended August 1, 2020 compared to 38 cents for the 13 weeks ended August 3, 2019, and adjusted EPS of negative 3 cents compared to adjusted EPS of 39 cents last year. Total net revenue for the quarter decreased 157 […]

Luxury giant LVMH said Wednesday it was calling off its planned 16.2-billion dollar acquisition of US jeweller Tiffany, as the glittering marriage threatened to descend into a bitter legal battle. LVMH said its board had decided not to tie the knot after all, following "a succession of events which […]

The Department for International Trade (DIT) has announced new trade measures for the consumer and retail industry to help support businesses impacted by the coronavirus pandemic. The ‘bounce-back’ plan, announced by the exports minister includes new measures to “help boost exports and increase British […]

Almost one-fifth of SMEs don’t think they’d survive another lockdown and would be forced to stop trading permanently if one came into effect, according to a new report by small business insurer Simply Business. The study spoke to more than 500 SME owners across the UK and also found that a third (32 […]

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