TOP NEWS
* Cyber Monday sales were projected to reach $6.59 billion, up 16% from 2016, the largest digital amount for a U.S. shopping day, CNBC reported, citing Adobe Insights. The firm, which monitored 80% of online activity from 100 key players in U.S. retail, also reported Black Friday online sales at $5.03 billion, up 17% year over year.
* Anglo-Dutch consumer goods giant Unilever Plc said it would maintain stock market listings in the Netherlands and the U.K. regardless of the outcome of its review of its dual-headed legal structure, which could see it choose between headquarters in Rotterdam and London.
TEXTILES, APPAREL AND LUXURY GOODS
* Italian eyewear company Luxottica Group SpA and French lens producer Essilor International Société Anonyme received merger approval from Canadian Competition Bureau, an antitrust watchdog. The combination has been cleared by regulators in Australia, Colombia, India, Japan, Morocco, New Zealand, Russia, South Africa, South Korea and Taiwan.
* U.S. apparel retailer V.F. Corp. appointed Johan De Niel as vice president of Wrangler EMEA and Peter Kats as vice president of Lee EMEA, Retail Gazette reported. The company also named Daniel Larsson as senior sales director of its Jeanswear EMEA division and Johan Vercammen as senior direct-to-consumer director. All four executives will report to V.F. Jeanswear EMEA President Massimo Ferrucci, the report added.
* Victoria Beckham Ltd. said private equity firm NEO Investment Partners invested £30 million to buy new shares in the luxury fashion label. The transaction will help the company position itself in the retail market through new product launches and collaborations.
* U.S. footwear retailer Rocky Brands Inc. sold its sneaker brand Creative Recreation to a private investment group in a move to focus on its core categories. Financial terms of the transaction were not disclosed.
MULTILINE RETAIL
* Canadian retailer Hudson's Bay Co. said that nearly two-thirds of its shareholders support Rhône Capital LLC's proposed investment of C$632 million in the company. The department store operator expects Rhône to hold a 21.8% voting and equity interest in the company after the deal despite claims by activist investor Land & Buildings Investment Management LLC that the transaction will result in it controlling 35% of Hudson's Bay's disclosed net asset value.
E-COMMERCE
* Demand for Chinese e-commerce retailers from Indian consumers grew as companies including SheIn, Club Factory and Alibaba Group Holding Ltd.-owned Ali Express receive as much as 10,000 to 15,000 orders a day, The Economic Times of India reported, citing rates given by e-commerce logistics agencies. The number is half of the average 10,000 to 30,000 daily orders that India-based retailers recorded as most Chinese e-commerce companies do not provide cash-on-delivery services.
* French retailer Groupe Casino signed an agreement with U.K.-based online grocery retailer Ocado Group plc for the development in France of the Ocado smart platform, an end-to-end grocery delivery service. The build and launch are expected to take at least two years.
* Amazon.com Inc.'s Indian arm partnered with global seed accelerator HAX and New York-based crowdfunding company Kickstarter to launch a startup selection contest, India's Mint reported. The event, which will fund products with high potential in the country, is slated to start Dec. 5 in Bengaluru, the newspaper added.
* Chinese online retailer Jumei International Holding Ltd. said its senior management and several Sequoia funds withdrew their proposal to take the company private. The beauty products company's board received a letter from founder, Chairman and CEO Leo Ou Chen, co-founder Yusen Dai and the Sequoia funds saying the buyer withdraws its proposal effective immediately.
HOUSEHOLD AND PERSONAL PRODUCTS
* Unilever Plc agreed to buy New York-based hair and skin care company Sundial Brands LLC for an undisclosed sum, with the deal anticipated to close in the first quarter of 2018. The consumer products giant expects the transaction to expand its personal care portfolio.
FOOD AND STAPLES RETAILING
* Drug retailer Rite Aid Corp. began the transfer of 97 stores to pharmacy chain Walgreens Boots Alliance Inc. under its amended and restated asset purchase agreement. Walgreens will buy 1,932 stores from Rite Aid for $4.38 billion in cash as part of the deal, down from its previous intention to acquire 2,186 stores for $5.18 billion.
HYPERMARKETS AND SUPERCENTERS
* Big-box retailer Wal-Mart Stores Inc.'s online prices now average 0.3% higher than those of e-commerce giant Amazon.com Inc., compared with a 3% gap in the same period a year ago, Reuters reported, citing research by analytics firm Market Track. Wal-Mart spokesman Dan Toporek and Amazon spokeswoman Kate Scarpa both told the news agency that their companies are committed to providing the best prices to customers, but both declined to comment further on the retailers' pricing strategies.
* American food manufacturer Kroger Co. and Wal-Mart Stores Inc. are continuing to pressure suppliers to meet shipment schedules by imposing fines for late deliveries, The Wall Street Journal reported. Kroger reportedly is charging $500 for deliveries delayed for more than two days, while Walmart is invoicing suppliers 3% monthly for shipments that do not arrive as scheduled.
