Currently reviewing the possibility of a sale, Revlon announced declining revenues and widening losses for Q3 on Friday, as weaknesses in its North American business took their toll on the company’s top line.
Alibaba Group Holding on Monday said sales for its annual Singles’ Day shopping blitz hit 158.31 billion yuan ($22.63 billion) in its first nine hours, up 25% from 126.72 billion yuan at the same point last year.
China’s e-commerce giant, Alibaba Group Holding, said on Friday it would invest an additional $3.33 billion to raise its equity stake in its logistics affiliate Cainiao Smart Logistics Network to 63% from 51%.
As both its search for a new CEO and its review of strategic alternatives get underway, the NYC-based consumer brands management company announced declining sales and deepening losses for the third quarter on Friday.
In the same week as Mothercare threw in the towel with its UK stores, rival mother and baby products chain Mamas & Papas has opted for a pre-pack administration with its existing owner back in control.
The owner of the Ikea furniture brand expects sales to grow this fiscal year as online trade expands, but profits will be tempered by increased investment as the brand battles web specialists like Amazon and Made.
On Friday, French distribution giant Carrefour announced it has received a “firm bid” by Shopinvest to acquire a 100% stake in consumer electronics e-tailer Rue du Commerce, which Carrefour bought in 2016.