Buyout Firm Sycamore Vies to Take Nordstrom Private, Sources Say
Nordstrom shares rose 6 percent on the news, giving the company a market value of about $3.3 billion.
The owners behind the 3 million-square-foot shopping and entertainment complex hope to beat the United States' dire retail outlook with its unique offering and relative proximity to Manhattan.
Johnson & Johnson will acquire Vogue International for $3.3 billion, adding brands such as OGX shampoos to a portfolio that includes Neutrogena and Clean & Clear.
The Children's Place Retail Stores Inc. on Tuesday reported a loss of $13.7 million in its fiscal second quarter.
Ascena Retail Group Inc. on Tuesday reported fiscal third-quarter net income of $24.4 million. The results fell short of Wall Street expectations.
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Nordstrom shares rose 6 percent on the news, giving the company a market value of about $3.3 billion.
A double-digit decline was attributed to the brand’s distribution changes.
Spatch will debut on May 4 with a nine-piece collection of skin-perfecting products designed for professional and consumer use.
The Danish company, which makes more pieces of jewellery than any other in the world, said organic sales are projected to rise 8-10 percent this year.
Despite a brief uptick in sales, up 24 percent between 2021 and 2022, the brand’s growth has stalled.
The move comes as System owner Mike Obenson aims to turn what began as a bi-annual print title into a global media brand with a stronger digital offering.
Former Under Armour COO Colin Browne has been appointed to lead the industry organisation formerly known as the Sustainable Apparel Coalition.
The company also beat Wall Street targets for third-quarter results, hinting at a recovery in demand for beauty and cosmetic products in the US after a long bout of inflation.