After announcing plans to merge in December of 2016, the two companies have now revealed the termination of their prior deal. The two parties cited interests of their shareholders as the reason for calling off the deal.
In the midst of reducing its distribution network, the company’s earnings before taxes fell 23.6 percent for the first half-year with respect to 2016, equaling 55 million euros as a result of slow sales in its principal markets.
H&M is to open in Christchurch, New Zealand, with a new two-level store due to open its doors on September 9. The new location will include the retail giant’s complete product line-up for the first time in the country.
Walmart, trailing Amazon in the number of goods for sale on its website, is recruiting vendors in China and other countries to boost its online offerings in a pivot away from Wal-Mart's Made-in-America campaign.
Amazon CEO Jeff Bezos has unseated fellow tech billionaire Bill Gates as the richest person in the world, profiting from the e-commerce company's meteoric stock rise to reach a fortune of $90.6 billion, Forbes reported.
The group of Nordstrom family members seeking to take the eponymous U.S. department store private is offering preferential terms to potential equity partners willing to fund the buyout, according to sources.
On Tuesday, the shoe and fashion designer announced the creation of the new End AIDS Coalition at the International AIDS Conference on HIV Science in Paris. The Coalition will bring together global leaders in the fight against AIDS.
The shoe brand continues its pursuit of the Gen Z and millennial market. To promote its new Generation K collection, K-Swiss has recruited young entrepreneurs with large social media followings to star in the campaign
Joining other major fashion designers in abandoning the typical runway show, Narciso Rodriguez will forgo his usual show at New York Fashion Week and present his Spring 2018 collection at private appointments instead.