A minority shareholder of Britain’s House of Fraser, Sports Direct, is suing the department store chain to gain access to its business plan, after House of Fraser announced a major restructuring this week.
The maternity apparel company has sent a letter to its stockholders ahead of its annual meeting, urging them to vote for the company’s incumbent Board of Directors in opposition to the nominees of a dissident group.
The New York-based brand management group published its results for the first quarter of 2018 on Friday, reporting net income of $32.7 million, up from $4.4 million in the prior year period, despite revenue slipping 17%.
The Italian beauty retailer plans to invest €90 million to fuel growth in the next 3 years, and is in advanced talks with an investment fund interested in buying a stake. It will also close its US subsidiary.
Alibaba Group Holding Ltd reported better than expected top line results on Friday, driven by strong sales in its commerce and cloud computing units, even as margins were squeezed by flurry of investments.
Indian e-commerce firm Flipkart's board is yet to finalise a deal to sell a stake to Walmart Inc, two sources with direct knowledge of the matter said on Friday, adding that a deal could just be days away.
Flipkart has bought back $350 million worth of shares from its investors as it seeks to convert its Singapore-incorporated company to a private limited firm, in a move that could make a way for a new strategic investor.
Brazil’s largest apparel retailer will maintain its aggressive growth plans this year and strategy of developing both its online and physical footprint, an executive said after the company posted an unexpected quarter.