As retailers continue to deal with a national labor shortage, the off-price luxury destination has announced that it has increased the minimum wage for all its hourly associates in North America to $15 per hour.
The Swiss private equity firm, owner of Borsalino, has hired a new operating partner, Jérôme Macario, a corporate finance specialist who has worked at Kering, with the aim of investing in luxury brands.
Hard-pressed fashion retailers awaiting government plans for a major shake-up in business rates will have to wait. A call from 40 trade associations for the overhaul to be included in upcoming Budget have been dashed.
Positive news from retail landlord Landsec continues on the rent collection front. The commercial property giant said Friday that, as of 12 October, 85% of the £89 million net rent due on 29 September had been paid.
Johnson & Johnson has put into bankruptcy tens of thousands of legal claims alleging its Baby Powder and other talc-based products caused cancer, offloading the potential liabilities into a newly created subsidiary.
U.S. Senator Elizabeth Warren called for breaking up Amazon and Indian retailers demanded a government probe of the company after an investigation showed the Amazon had copied products and rigged search results in India.
German fashion retailer Hugo Boss on Thursday raised its outlook for the current year after third-quarter earnings rebounded above pre-pandemic levels on the back of strong demand in Europe and the Americas.