Russian business conglomerate Sistema has no plans to sell its stake in children’s retailer Detsky Mir, TASS news agency quoted Sistema Chairman Vladimir Yevtushenkov as saying on Thursday. The comment comes a day after...
Hudson’s Bay to sell Lord + Taylor for $100 million
Hudson’s Bay Co said on Wednesday it would sell its Lord + Taylor department store business to fashion rental service company Le Tote Inc for about $100 million, as the retail operator culls its portfolio to a few key...
Amazon to acquire 49% stake in Kishore Biyani’s Future Coupons
Kishore Biyani-led Future Group on Thursday evening said that American e-commerce giant Amazon.com is acquiring a 49% stake in a group entity — Future Coupons Ltd. “We have been informed by Mr. Kishore Biyani on behalf...
Retailer Casino raises offer to buy Exito’s 50% stake in GPA
French supermarket retailer Casino said it had raised its offer price to buy the 50% stake held in Brazilian retailer GPA by its Colombian unit Exito, as part of a plan to simplify its Latin American operations. Casino...
Future Retail a step closer to Amazon deal
Future Retail said the company’s key shareholders including the promoter family and another group firm Future Coupons have entered into a shareholders’ agreement, allowing the latter to attend board meetings and also...
New York retail icon Barneys files for bankruptcy
Barneys New York Inc filed for bankruptcy protection on Tuesday and put itself up for sale, pushed to the brink by falling revenue and soaring rent at its stores that caused many vendors to effectively stop shipping...
Czech investor Kretinsky won’t raise offer for Germany’s Metro
Czech businessman Daniel Kretinsky’s investment vehicle said on Monday it would not raise its 5.8 billion euro ($6.5 billion) bid for Metro (B4B.DE), after failing to convince two of the German retailer’s top...
Sports Direct buys fashion retailer Jack Wills for 12.75 million pounds
Britain’s Sports Direct International Plc (SPD.L) has bought clothing retailer Jack Wills for 12.75 million pounds ($15.51 million), the Mike Ashley-led company said on Monday. Sky News reported on Sunday that the...
Wesfarmers gets regulator nod for $160 million Catch Group buy
Australia’s competition watchdog on Monday said it will not oppose conglomerate Wesfarmers Ltd’s (WES.AX) $160 million acquisition of online retailer Catch Group. “The current growth in online marketplaces is fostering...
Hudson’s Bay special panel says Chairman Baker’s bid inadequate
A special panel of Hudson’s Bay Co (HBC.TO) reviewing a C$1.74 billion take-private bid, proposed by Chairman Richard Baker and a group of shareholders, said the offer was inadequate based on an initial analysis. The...
Walmart likely to soon put $50 million into NinjaCart
US retailing behemoth Walmart has committed to investing close to $50 million in fresh fruit and vegetable supply chain startup Ninja-Cart, three people in the know of developments said. The first tranche, pegged at $10...
Amazon may shop for stake in Reliance Retail
Amazon is in exploratory talks with Reliance Retail to acquire up to 26% in the country’s largest brick-and-mortar retailer, two senior industry executives said. However, they made it clear that there is no certainty...
