MILAN, Italy — New York private-equity fund Blackstone Group has reportedly taken a 20 percent stake in Gianni Versace SpA, after a drawn-out bidding process that also included Investcorp and CCMP.
NEW Albany, United States — Abercrombie & Fitch's fourth-quarter net income fell 58 percent, dragged down by a number of one-time charges, including costs tied to the closure of the retailer's Gilly Hicks stores. But adjusted profit easily topped Wall Street's expectations and shares jumped more than 8 percent as the company initiated a $150 million accelerated share buyback program.
NEW YORK, United States — J. Crew Group Inc., the retailer owned by TPG Capital and Leonard Green & Partners LP, is interviewing banks as it weighs an initial public offering in the U.S. later this year, people familiar with the matter said.
NEW YORK, United States — In the past five years, Inditex has shifted almost $2 billion in profits to a tiny unit operating in the Netherlands and Switzerland, records show. Although that subsidiary employs only about 0.1 percent of Inditex’s worldwide workforce, it reported almost 20 percent of the parent company’s global profits last year, according to company filings.
NEW YORK, United States — First the good news for J.C. Penney Co Inc online sales rose 26.3 percent during the holiday quarter. Now the bad: the surge mostly reflects how far the one-time e-commerce pioneer has fallen.
NEW YORK, United States — Macy’s Inc., the second-largest U.S. department-store company, reported fourth-quarter sales that missed analysts’ estimates after deep holiday discounts failed to spur growth.
TOKYO, Japan — Fast Retailing Co's casual clothing brand Uniqlo is rethinking its "Made for All" strategy, looking to offer lower priced lines in smaller Asian cities and more generous sizes to fit the U.S. market, a top executive said on Tuesday.