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Bezos sells about $1B more Amazon shares; Barneys New York files for bankruptcy

TOP NEWS

* Amazon.com Inc. CEO Jeff Bezos sold approximately $990.1 million worth of shares in the e-commerce behemoth between Aug. 1 and Aug. 2, after selling another $1.84 billion worth of shares the same week.

* Barneys New York Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York. According to the Financial Times, the company will close its stores in Chicago, Las Vegas and Seattle, along with five smaller-format stores and seven warehouses, but will retain its operations in New York City's Madison Avenue, Beverly Hills, San Francisco and Copley Place in Boston, as well as two warehouses. It listed assets and liabilities in the range of $100 million to $500 million.

TEXTILES, APPAREL AND LUXURY GOODS

* H & M Hennes & Mauritz AB is collaborating with men's style portal MenWith to launch a capsule collection online and in select stores from Aug. 22.

* L Brands Inc. Chief Marketing Officer Edward Razek is planning to resign in August, CNBC reported, citing an internal memo from CEO Les Wexner. Ed Wolf, senior vice president of brand and creative at L Brands, reportedly is set to be the apparel retailer's interim head of brand and creative, while Bob Campbell, vice president of creative at Victoria's Secret, will be the lingerie brand's interim head. An L Brands spokesperson declined to comment on the matter, CNBC said.

MULTILINE RETAIL

* Catalyst Capital Group raised the number of Hudson's Bay Co. shares it intends to buy, now offering to take approximately 10.75% of the department store chain for about C$200 million. The Canadian private equity firm initially offered to buy up to 14,836,795 Hudson's Bay common shares, representing about 8.06% of the company's common stock, for C$10.11 each for a total deal value of about C$150 million.

E-COMMERCE

* Airbnb Inc. acquired Urbandoor Inc., an online marketplace that offers accommodations to business travelers, for an undisclosed sum.

* Boohoo Group PLC confirmed that it offered to acquire the online operations of U.K. brands Karen Millen and Coast, along with all of its associated intellectual property rights.

HOUSEHOLD AND PERSONAL PRODUCTS

* Beiersdorf AG reported that revenue for the first half ended June 30 increased 4.8% to €3.84 billion from €3.61 billion in the year-ago period, driven by growth across all of the company's markets. The German personal care products company continues to expect sales for fiscal 2019 to grow between 3% and 5%.

FOOD AND STAPLES RETAILING

* Tesco PLC will cut 4,500 jobs as the retailer plans to simplify operations at 153 of its Metro stores. Tesco will also reduce working hours at 134 of its 1,750 Express stores, where customer footfall is low.

* Tesco will stop using glitter in its Christmas offerings and instead switch to a plastic-free alternative for products that will go on sale starting the end of November, The Guardian reported, citing a company announcement. The company has yet to announce when it will phase out glitter from its own-brand cards, stationery and wrapping paper, the report added.

HYPERMARKETS AND SUPERCENTERS

* EP Global Commerce VI GmbH is not planning to raise or lower its offer to buy German wholesaler Metro AG, despite admitting that the discussions it had with Metro's top investors were not successful. EP Global is the investment vehicle owned by Czech investor Daniel Kretinsky and Slovak investor Patrik Tkac.

HOUSEHOLD DURABLES AND SPECIALTY RETAIL

* Sports Direct International PLC acquired the business and assets of clothing retailer Jack Wills Ltd. for £12.8 million.

HOTELS, RESORTS AND CRUISE LINES

* Australian travel retailer Flight Centre Travel Group Ltd. completed the acquisition of the remaining 25% stake it does not already own in Canadian travel business Voyages Laurier Du Vallon Inc Les. Financial terms of the transaction were not disclosed.

* Marriott International Inc. reported second-quarter adjusted net income of $525 million, or $1.56 per share, down from $619 million, or $1.73 per share, a year ago. Total revenue for the quarter reached $5.31 billion, a decline of about 2% year over year from $5.41 billion.

* InterContinental Hotels Group PLC's first-half profit before tax came in at $375 million, up 24.6% from $301 million in the year-ago period. EPS was down 1.4% annually to $1.432 from $1.453. Total group revenue for the six-month period was $2.28 billion, up 8% from $2.11 billion.

SPECIALIZED CONSUMER SERVICES

* Liberty Tax Inc. appointed Scott Terrell as its chief information officer. Terrell was previously HealthMarkets Inc.'s senior vice president and chief information officer.

INDUSTRY NEWS

* Total retail sales in the U.K. increased 0.3% in July, or 0.1% on a like-for-like basis, compared with a 1.6% growth in the year-ago period, according to data from the British Retail Consortium.

The day ahead

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

In Asia, the Hang Seng dropped 0.67% to 25,976.24, while the Nikkei 225 shed 0.65 % to 20,585.31.

In Europe, around midday, the FTSE 100 rose 0.02% to 7,224.90, and the Euronext 100 gained 0.67% to 1,032.69.

On the macro front

The Redbook Index for retail sales and the JOLTS report 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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