Forma Brands, the bankrupt owner of the Morphe makeup brand, reached an agreement with lenders Jefferies Finance LLC and Cerberus Capital Management to be acquired in exchange for $690 million in debt relief, according to a court filing.
Macy’s Inc chief executive officer Jeff Gennette will retire next year after four decades with the U.S. department store chain, the company said on Wednesday and named insider Tony Spring as his successor.
Target has tapped Agua Bendita, a Colombian label known for its bold floral prints, Fe Noel, a Brooklyn-born brand with Grenadian roots, and Los Angeles-based Rhode, which is synonymous with printed dresses, as its latest designer collaboration partners.
Next Plc shares plunged as the UK retailer warned of a challenging year ahead and repeated profit and sales will probably decline this year.
“Adidas will withdraw its opposition to the Black Lives Matter Global Network Foundation’s trademark application as soon as possible,” the company said in a statement, without giving a reason for the decision.
The American retailer confirmed Tuesday that it has eliminated less than 3 percent of its corporate headcount as part of reorganisation efforts.
Lululemon Athletica Inc forecast annual sales and profit above Wall Street estimates on Tuesday, betting that demand for its pricier yoga wear and athleisure clothing would hold strong even as inflation drags consumer spending.
Alibaba Group is planning to split into six units and explore fundraisings or listings for most of them, it said on Tuesday, in a major revamp as China vows to ease a sweeping regulatory crackdown and support its private enterprises.