TOP NEWS
* Sony Corp.'s board unanimously agreed to retain its imaging and sensing solutions business, rejecting activist investor Third Point LLC's proposal for a spin off. The consumer electronics company said it reviewed the hedge fund's recommendations but determined that the unit is a "crucial growth driver."
* SeaWorld Entertainment Inc. announced the resignation of CEO Gustavo Antorcha, citing "disagreements over the board's involvement in the decision making at the company." The company appointed current CFO Marc Swanson as interim CEO and Chief Accounting Officer Elizabeth Gulacsy as interim CFO, effective immediately.
TEXTILES, APPAREL AND LUXURY GOODS
* H & M Hennes & Mauritz AB will begin selling external brands and products on a trial basis in a bid to attract new shoppers, Reuters reported Sept. 16, citing a company spokeswoman.
* Fast Retailing Co. Ltd. is collaborating with chemicals business Toray Industries Inc. on a recycling program to make clothes from used down jackets and plastic bottles. The collection will go on sale in 2020.
* Authentic Brands Group LLC's Nautica brand is relaunching the Nautica Jeans Co. on its e-commerce site and select retail stores, offering denim, flannel, outerwear, branded T-shirts and other products for men, women and children, Women's Wear Daily reported.
* French Connection Group PLC said it now expects to conclude its formal sale process by the end of the fiscal year as discussions with interested parties are still ongoing. The U.K. fashion retailer, which previously hoped to complete the strategic review in the first half, made the disclosure as it reported that revenue fell 12.2% year over year to £51 million for the first half of 2019 and underlying pretax operating loss narrowed slightly to £5.3 million from £5.5 million.
MULTILINE RETAIL
* Macy's Inc. said Marla and Barry Beck, founders of its beauty products unit Bluemercury Inc., will leave the company. Barry Beck will step down as COO effective Sept. 20, while CEO Marla Beck will remain with Bluemercury through a transition period.
E-COMMERCE
* Chinese branding and retail business Acorn International Inc. said revenue for the second quarter of 2019 increased 38.6% year over year to $8.7 million from $6.3 million in 2018, driven by the strong performance of Babaka branded products and Acorn Fresh on its e-commerce channels. Net income attributable to Acorn came in at $0.1 million compared to a net loss of $23.8 million in the year-ago period.
* Amazon.com Inc. said it will expand its Chicago tech hub by more than 70,000 square feet and create 400 new jobs in cloud computing, advertising and business development.
* Amazon plans to significantly expand its Amazon Hub locker network across the U.S. to speed up Prime shipments and boost its logistics network, CNET reported, citing a person familiar with the company's plan.
* Amazon's Prime Video will launch on Altice USA Inc.'s Altice One entertainment and connectivity platform in the coming months.
* Hotels.com and Trivago owner Expedia Group Inc. said it signed a new, multiyear agreement with United Airlines Holdings Inc. to expand their partnership.
* Ocado Retail Ltd., a joint venture between Ocado Group PLC and Marks & Spencer Group PLC, reported retail revenue of £386.3 million for the 13 weeks ending Sept. 1, up 11.4% from £346.9 million in the year prior.
* Amazon signed an exclusive agreement with Israel Postal Co. to deliver its parcels around the country, Globes reported.
* EBay Inc. said it began managing the end-to-end payments process on its marketplace in Germany.
* Shares of German e-retailer Zalando SE fell more than 9% after Swedish investment firm Kinnevik AB completed the €558 million sale of a 5.2% stake in the company via an accelerated bookbuild. Kinnevik now holds 25.8% of Zalando shares.
HOUSEHOLD AND PERSONAL PRODUCTS
* Brazil-based Natura Cosméticos SA's board approved the creation of a subsidiary to manage the company's Singapore operations, according to a securities filing.
* L'Oréal SA appointed Ali Goldstein as president of its L'Oreal Paris USA division, replacing Tim Coolican, effective Oct. 1, Women's Wear Daily reported.
FOOD AND STAPLES RETAILING
* J Sainsbury PLC sales fell 0.1% in the 12 weeks period to Sept. 8, compared to a fall of 1.4% for Tesco PLC, 1% for Asda Stores Ltd. and 2% for Wm Morrison Supermarkets PLC, according to data from Kantar.
HYPERMARKETS AND SUPERCENTERS
* Walmart Inc.-owned Asda Stores Ltd. workers staged protests outside 12 U.K. stores over a new contract that requires them to work on public holidays and ends pay for breaks, The Guardian reported. The GMB union said workers will be fired if they do not sign the "punitive" contract by Nov. 2 and is pushing for an improved deal.
* Asda Group Ltd. reported a 1.6% increase in its like for like sales, excluding fuel and value-added tax, for the year ended Dec. 31, 2018. Operating profit for the period hiked 9.2% year over year to £803.2 million.
* Walmart Inc. is relaunching shuttered fashion chain Scoop as a private brand on its website and in stores. It will offer more than 100 styles with prices ranging from $15 to $65.
HOTELS, RESORTS AND CRUISE LINES
* Carnival Corp. & PLC appointed Sandra Rowlett as vice president of its newly created incident analysis group, reporting to Peter Anderson, chief ethics and compliance officer.
The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Hang Seng fell 1.23% to 26,790.24, and the Nikkei 225 gained 0.06% to 22,001.32.
In Europe, around midday, the Euronext 100 was up 0.03% to 1,084.79.
On the macro front
The Redbook Index for retail sales, the industrial production report, the housing market index and the Treasury International Capital 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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