Lululemon Sees Annual Revenue, Profit Below Estimates Amid Board, Demand Challenges
CEO Calvin McDonald stepped down in December following months of share price weakness and lack of design freshness.
real-estate
Retail
Activist Investor Starboard Urges Macy's to Strike Real-Estate Deals
Investment firm Starboard Value LP has urged department store chain Macy's Inc to push for realising greater value from its real-estate holdings, including its famous Herald Square store in New York.
Activist Investor Starboard Urges Macy's to Strike Real-Estate Deals
Investment firm Starboard Value LP has urged department store chain Macy's Inc to push for realising greater value from its real-estate holdings, including its famous Herald Square store in New York.
News & Analysis
Macy’s Seeking Potential Buyers for Stakes in Flagship Stores
Macy’s Inc. is seeking to sell stakes in its flagship stores, including its landmark building on Manhattan’s West 34th Street, one of New York’s top tourist attractions.
Macy’s Seeking Potential Buyers for Stakes in Flagship Stores
Macy’s Inc. is seeking to sell stakes in its flagship stores, including its landmark building on Manhattan’s West 34th Street, one of New York’s top tourist attractions.
Global Markets
Riding the Miami Wave
Luxury brands are stepping up their presence in the gateway to Latin America, but can Miami carry their weight?
Riding the Miami Wave
Luxury brands are stepping up their presence in the gateway to Latin America, but can Miami carry their weight?
News & Analysis
Hudson Yards Owners Seek Buyer for 40% Interest in First Tower
A 40 percent stake in 10 Hudson Yards, the first skyscraper set for completion at the development on Manhattan’s far west side, is being marketed for sale.
Hudson Yards Owners Seek Buyer for 40% Interest in First Tower
A 40 percent stake in 10 Hudson Yards, the first skyscraper set for completion at the development on Manhattan’s far west side, is being marketed for sale.
Retail
MetLife Group Loans $1 Billion for Taubman’s Mall at Short Hills
MetLife Inc. is among insurers providing a $1 billion loan to refinance Taubman Centers Inc.’s Mall at Short Hills, a 1.4 million-square-foot luxury shopping centre in New Jersey.
MetLife Group Loans $1 Billion for Taubman’s Mall at Short Hills
MetLife Inc. is among insurers providing a $1 billion loan to refinance Taubman Centers Inc.’s Mall at Short Hills, a 1.4 million-square-foot luxury shopping centre in New Jersey.
Global Markets
LA Confidence: A Fashion Force Beyond Film
With a thriving art scene, retail momentum and a GDP of more than $825 billion, Los Angeles is a growing fashion force with impact beyond its Hollywood star power.
LA Confidence: A Fashion Force Beyond Film
With a thriving art scene, retail momentum and a GDP of more than $825 billion, Los Angeles is a growing fashion force with impact beyond its Hollywood star power.
Retail
QIC Global Real Estate: Connecting People with Places
BoF sits down with QIC Global Real Estate director of investment management Stuart Miller, to learn more about how the firm is pioneering the development of next-generation retail centres.
QIC Global Real Estate: Connecting People with Places
BoF sits down with QIC Global Real Estate director of investment management Stuart Miller, to learn more about how the firm is pioneering the development of next-generation retail centres.
News & Analysis
Macy’s to Close as Many as 40 Underperforming Stores Next Year
Macy’s Inc. plans to close as many as 40 stores early next year as it trims costs and works to improve e-commerce operations.
Macy’s to Close as Many as 40 Underperforming Stores Next Year
Macy’s Inc. plans to close as many as 40 stores early next year as it trims costs and works to improve e-commerce operations.
Workplace & Talent
Role Call | Robin Zendell, Real Estate Entrepreneur
New York-based real estate entrepreneur Robin Zendell says, "It is not the failure that matters, but it is how you learn from it, so as not to repeat the same mistake."
Role Call | Robin Zendell, Real Estate Entrepreneur
New York-based real estate entrepreneur Robin Zendell says, "It is not the failure that matters, but it is how you learn from it, so as not to repeat the same mistake."
Global Markets
Miami’s Loss Is Iguatemi’s Gain as Brazilians Shop at Local Mall
Brazilians, who once flew to Miami to buy Louis Vuitton purses and Chanel dresses, are spending their weakened currency at home in a gain for luxury mall operator Iguatemi Empresa de Shopping Centers SA.
Miami’s Loss Is Iguatemi’s Gain as Brazilians Shop at Local Mall
Brazilians, who once flew to Miami to buy Louis Vuitton purses and Chanel dresses, are spending their weakened currency at home in a gain for luxury mall operator Iguatemi Empresa de Shopping Centers SA.
Retail
Hudson’s Bay Real Estate IPO Moves Closer With Deal for Kaufhof
Hudson’s Bay Co.’s acquisition of a 136-year-old German retailer lifts the value of its real estate by 20 percent to C$11 billion ($8.9 billion) and brings it a step closer to unlocking that value in a new initial public offering.
Hudson’s Bay Real Estate IPO Moves Closer With Deal for Kaufhof
Hudson’s Bay Co.’s acquisition of a 136-year-old German retailer lifts the value of its real estate by 20 percent to C$11 billion ($8.9 billion) and brings it a step closer to unlocking that value in a new initial public offering.
Retail
Blackstone Secures $600 Million for Miami Luxury Mall
Blackstone Group LP has secured a $600 million loan for a Florida developer turning a once dingy, warehouse district in Miami into a premier luxury retail destination.
Blackstone Secures $600 Million for Miami Luxury Mall
Blackstone Group LP has secured a $600 million loan for a Florida developer turning a once dingy, warehouse district in Miami into a premier luxury retail destination.
The News in Brief
Puig Announces New CEO
Jose Manuel Albesa will succeed Marc Puig, becoming the first non-family member to lead the Spanish conglomerate in more than 20 years.
Spandex Maker Lycra Files for Bankruptcy After Years of Stress
The company has been hampered with disruptions to supply chains, elevated inflation, growing competition from low-cost manufacturers and trade tariffs.
US SEC Preparing to Eliminate Quarterly Reporting Requirement, WSJ Says
The proposal would give companies the option to share results twice a year.
Kering Unveils New Jewellery Unit, Merges Fashion Brand Reporting
Kering’s newly created jewellery division regroups Boucheron, Pomellato, Dodo and Qeelin brands as the company aims to pool resources. The conglomerate is also regrouping fashion brand reporting, shielding smaller labels from investor scrutiny.
Bondholders Approve Saks Global’s Five-Year Business Plan
Saks is moving towards exiting bankruptcy and tapped an additional $300 million of its Chapter 11 financing package.
Luxury Stocks Face Most Bearish Sentiment in Years, UBS Says
War in the Middle East, the luxury industry’s fastest-growing market, threatens to delay a long-expected rebound in demand.
Trump Signs Order to Combat Fraudulent ‘Made in America’ Labels, White House Says
The executive order directs the FTC chairman to prioritise enforcement of existing laws against sellers and manufacturers who falsely claim products are made in America.