Shares in South African retailer Steinhoff jumped as much as 40% on Monday, regaining ground after calling on its lenders to help stabilise the company following the discovery of accounting irregularities last week.
German footwear company Birkenstock is ending its business relations with Amazon Europe and will discontinue direct deliveries provided by the platform’s European subsidiary from 1 January 2018, it announced on Monday.
Troubled international retail conglomerate Steinhoff, whose shares plunged last week after disclosing accounting problems, said on Sunday it had appointed two advisory firms ahead of a meeting with lenders on Dec. 19.
GGP Inc , one of the largest owners and operators of U.S. shopping centres, has rejected a $14.8 billion buyout offer from its biggest shareholder, Brookfield Property Partners LP , sources said on Sunday.
Sun Art Retail Group, China’s top hypermart operator, said on Friday its stores will use Alibaba's software solutions and online transaction data to improve business efficiency, sending its shares up 5 percent.
With every luxury brand executive racing to build a digital empire, it’s refreshing to sit down with Bruno Pavlovsky of Chanel; whose main focus for next year will be bricks and mortar, and live events.
Steinhoff shares plunged another 50 percent on Friday, before recovering as traders booked profits on short positions taken out after the South African retailer disclosed accounting irregularities earlier this week.
Shocked Steinhoff shareholders have wiped more than $12 billion off its value since it revealed “accounting irregularities” and parted ways with its chief executive. Shares plummeted again on Friday by 45%.