L’Occitane Announces Privatisation Offer
The transaction, which includes funding from Blackstone and Goldman Sachs, values the company at $6.4 billion.
Jeff Gennette, who has been CEO of the US retailer since March, was widely expected to become chairman as part of a succession plan announced in June last year.
The move underscores the pressing need for the two chains to better monetise their real estate assets.
The new Apple shop is on the main floor of Macy's Herald Square, in the heart of the busy cosmetics and fragrance area.
The inaugural event drew a cast of characters from pro-skater Tony Hawk to executives from Calvin Klein, LVMH and Lululemon.
Macy’s has picked career insider to be its next chief executive officer, betting that a manager with a background in merchandising can figure out a way to reinvent the struggling department-store chain.
Macy’s chief executive officer Terry Lundgren is set to pass the job to president Jeff Gennette in the first quarter of 2017.
Macy’s Inc., the largest US department-store chain, may be offering investors a deal on more than just clothes on Black Friday.
Macy’s Inc. plans to close as many as 40 stores early next year as it trims costs and works to improve e-commerce operations.
Macy's Inc's plan to open a virtual store on Alibaba offers a cheap way into China, but as the latest in a long list of initiatives to spur growth it could spread management thin.
Macy’s Inc., the largest U.S. department-store chain, posted second-quarter earnings that missed analysts’ estimates as the retailer relied on discounts to clear seasonal inventory delayed at the West Coast Ports.
Far from offering retailers a promised land of milk and honey, China’s department store sector is clearly a troubled market. So why the surge in interest from foreign names?
Macy’s Inc. boosted its full-year earnings forecast, citing a “strengthening trend” starting in the fourth quarter, and announced a deal to purchase beauty and spa chain Bluemercury.
The transaction, which includes funding from Blackstone and Goldman Sachs, values the company at $6.4 billion.
The Lithuania-based group said growth had been spurred by entering new markets including Denmark and Finland and an expansion into luxury fashion.
The Barcelona-based firm set the price guidance at €24.50 per share, according to terms seen by Bloomberg News, giving the company an implied market value of €13.9 billion ($14.9 billion).
Chairman Reinold Geiger’s investment holding company, L’Occitane Groupe SA, is considering an offer for the Hong-Kong listed firm’s shares he does not already own, at HK$33 to HK$34 per share, the report said, citing people familiar with the matter.
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
The company confirmed in January that it planned to restart activities in Venezuela in the first half of 2024 with local partner Grupo Futura.
The move means Shein could be liable for fines of as much as 6 percent of global revenue for violating the law, designed to curtail the spread of illegal content online.
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.