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US court rejects Amazon's pay dispute appeal; Sequential Brands CEO resigns

TOP NEWS

* The U.S. Supreme Court rejected Amazon.com Inc.'s appeal to junk a lawsuit that seeks compensation for the time that warehouse workers spend on required post-shift security checks, five years after similar claims were barred under federal law, Reuters reported. The company did not immediately respond to S&P Global Market Intelligence's request for comment.

* Sequential Brands Group Inc. said Karen Murray resigned as its CEO and director, and a search for her replacement has been launched. The apparel retailer also promoted Chad Wagenheim, currently executive vice president of strategic development and operations, as president. The company is also conducting a review of strategic alternatives that may maximize value for its shareholders. This includes divestiture or acquisition of one or more new brands and a stock buyback program, among others.

TEXTILES, APPAREL AND LUXURY GOODS

* British luxury goods maker Burberry Group PLC and The RealReal Inc. are collaborating to encourage customers to resell their pre-owned Burberry products on the California-based consignment marketplace.

* Australian fashion retailer City Chic Collective Ltd. received approval from the U.S. Bankruptcy Court to acquire e-commerce assets of Avenue Stores LLC, the U.S.-based maker of plus size women clothing, for US$16.5 million. The asset sale is part of Avenue's Chapter 11 bankruptcy proceedings, under which the Ohio-based retailer has closed its more than 250 stores across 35 states in the U.S.

* Fashion brand Stella McCartney Ltd., which counts LVMH Moët Hennessy - Louis Vuitton Société Européenne as one of its minority shareholders, appointed former Moschino SpA executive Gabriele Maggio as its CEO, effective Oct. 21, Women's Wear Daily reported.

* Vans is facing a boycott in Hong Kong after it removed entries from its sneaker design competition that portrayed the monthslong protests in the city against the now-scrapped extradition bill, the South China Morning Post reported. The V.F. Corp.-owned brand reportedly said the company "reviews designs to ensure they are in line with our company's long-held values of respect and tolerance."

* C&A Modas SA, the Brazilian subsidiary of Dutch fashion retailer C&A, is planning to raise about 2.2 billion reais in an IPO on Oct. 24 where it plans to sell shares priced between 16.5 reais and 20 reais, Reuters reported, citing a securities filing.

MULTILINE RETAIL

* DICK'S Sporting Goods Inc. is planning to hire up to 8,000 seasonal employees for positions across the U.S. during its recruitment event on Oct. 16.

* German discount store chain Lidl Stiftung & Co. KG will open 10 new stores over the next three years in the city of Greater Manchester, England, creating about 400 jobs, Retail Gazette reported. Lidl is set to open its flagship Manchester store on Oct. 17.

E-COMMERCE

* Amazon.com Inc. opened a larger local online store in Singapore, expanding the company's product offering amid increasing competition with Alibaba Group Holding Ltd.-owned Lazada and Sea Ltd.'s Shopee, Reuters reported. Amazon.sg reportedly will also begin allowing small and medium-sized businesses to sell their products to shoppers on the online platform.

HOUSEHOLD AND PERSONAL PRODUCTS

* Shiseido Co. Ltd. said its subsidiary Shiseido Americas Corp. signed a deal to acquire skin care brand Drunk Elephant. Upon completion of the transaction, Drunk Elephant will operate within Shiseido Americas, with founding partner Tiffany Masterson continuing in her role as chief creative officer of the Texas-based company and taking up the additional role of president.

* Household appliances maker SharkNinja Operating LLC sued rival Tristar Products Inc. and American celebrity chef Emeril Lagasse in the U.S. District Court for the Southern District of Florida for patent infringement. The Massachusetts-based company claimed that Tristar's Emeril Lagasse Pressure AirFryer infringes three of its U.S. patents for pressure cooker kitchen appliance Foodi. Tristar and Lagasse did not immediately respond to S&P Global Market Intelligence's requests for comment.

FOOD AND STAPLES RETAILING

* Drug retailer Walgreens Boots Alliance Inc. will stop selling e-cigarettes in the U.S. amid regulatory concerns over vaping products. Supermarket chain The Kroger Co. also has decided to discontinue e-cigarette sales in its stores because of regulatory complexity over the product, CNBC reported.

HYPERMARKETS AND SUPERCENTERS

* Wal-Mart de México SAB de CV said total consolidated sales for the month of September rose 4% year over year to 50.13 billion Mexican pesos. The Mexican unit of U.S. retail chain Walmart Inc. said total sales in Mexico jumped 4.4% year over year to 41.08 billion pesos during the month, while Central America sales increased 2% year over year to 9.05 billion pesos.

HOUSEHOLD DURABLES AND SPECIALTY RETAIL

* U.K. home furnishings producer Made.com Design Ltd. is experimenting renting furniture to customers amid declining levels of property ownership, The Times reported. CEO Philippe Chainieux also reportedly said that the company opened two warehouses in Europe in case of disruption at the borders after Brexit.

* Shares in Bang & Olufsen a/s rose nearly 10% on Oct. 8 after the Danish consumer electronics retailer announced the appointment of Kristian Teär as its CEO, effective immediately, succeeding Henrik Clausen, who will continue to be at the company's disposal in the short term.

INDUSTRY NEWS

* Total retail sales in the U.K. fell 1.3% year over year in September, compared with a 0.7% increase in the year-ago period, according to the British Retail Consortium. "Clarity is needed over our future trading relationship with our closest neighbors, and it is vitally important that Britain does not leave the EU without a deal," CEO Helen Dickinson said.

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The day ahead

Early morning futures indicators pointed to a lower opening for the U.S. market.

In Asia, the Hang Seng rose 0.28% to 25,893.40, and the Nikkei 225 lifted 0.99% to 21,587.78.

In Europe, around midday, the FTSE 100 fell 0.31% to 7,175.52, and the Euronext 100 was down 0.96% to 1,062.34.

On the macro front

The Producer Price Index - Final Demand and the Redbook Index for retail sales are due out today.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

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