Chinese online retailer JD.com Inc. is closing its Indonesia and Thailand e-commerce sites as the company shifts its overseas strategy toward supply-chain and logistics services.

Japanese beauty group Shiseido Co. is also studying a potential bid for an interest in Aesop, the people said, asking not to be identified discussing confidential information.

A co-branded sneaker is apparently in the works.

Operating income dropped 87 percent to 821 billion kronor ($80 million) in the three months through November, H&M said Friday, far off analysts’ estimates. The stock fell as much as 7.9 percent.

The fashion retailer has earlier forecast an adjusted profit before tax of between £10 million and £20 million ($12.37 million to $24.74 million) for the year.

The fashion resale platform has named John Koryl as chief executive and a member of its board of directors.

Swiss fragrance and flavour maker Givaudan on Wednesday posted a slowdown in end-year sales, putting further strain on margins in a year marked by high input costs and supply chain disruptions.

The UK-based activewear brand made the job cuts as part of a restructuring at its US offices in Denver, a spokesperson for the company told BoF on Thursday.