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Dr. Martens owner may sell brand for £1.2B; Apollo makes offer for Hilton Grand

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Dr. Martens owner may sell brand for £1.2B; Apollo makes offer for Hilton Grand

TOP NEWS

* Permira Advisers Ltd. is looking to sell its shoemaking brand Dr. Martens for £1.2 billion, Women's Wear Daily reported, citing sources. Cole Haan LLC, which in August was reported to be preparing for an IPO, is also looking for potential buyers, the report said. The Apax Partners LLP-owned apparel retailer reportedly declined to comment, while private equity firm Permira did not return a request for comment.

* Apollo Global Management Inc. made a first-round offer for Hilton Grand Vacations Inc., valuing the resort operator at about $40 per share, Bloomberg News reported, citing people familiar with the matter. Blackstone Group Inc. also bid for Hilton Grand Vacations, which has been exploring strategic options, including a possible sale, Bloomberg noted. Apollo declined S&P Global Market Intelligence's request for a comment on the matter, while Hilton Grand Vacations did not immediately respond to the request for comment.

TEXTILES, APPAREL AND LUXURY GOODS

* Authentic Brands Group LLC is poised to buy bankrupt apparel retailer Barneys New York Inc. for nearly $270 million, The Wall Street Journal reported, citing people familiar with the matter. The deal will see the brand developer license the Barneys brand to Hudson's Bay Co.-owned Saks Fifth Avenue LLC. Authentic Brands and Hudson's Bay did not immediately respond to S&P Global Market Intelligence's requests for comment.

* Ross Stores Inc. opened 42 new locations across 19 states between September and October. The apparel retailer launched 30 Ross Dress for Less shops and 12 dd's Discounts stores, with the company debuting its first dd's Discounts location in the state of Virginia.

* U.K.-based apparel retailer Matalan Retail Ltd. posted total revenue of £292 million for the second quarter of fiscal 2019, up from £262.4 million in the year-ago period. "We expect the autumn/winter season to remain challenging and are [focused] on balancing the delivery of growth opportunities against the need to effectively manage stock risk and profitability," CEO Jason Hargreaves said.

* Luggage brand July received investor funding of A$10.5 million, of which A$8 million came from Strandbags Group Pty. Ltd. owner Michael Lewis, Inside Retail reported. The startup reportedly plans to launch the brand in Singapore by the end of 2019, in New Zealand in the next six months and other Asia-Pacific markets in 2020.

MULTILINE RETAIL

* Wesfarmers Ltd.-owned Bunnings Group Ltd. plans to launch an online marketplace for home and lifestyle products called MarketLink. The Australian home improvement retailer said MarketLink will have over 8,000 products listed on the platform, including products from other retailers.

HOUSEHOLD AND PERSONAL PRODUCTS

* Italian beauty brand Helena Rubinstein Italia SpA, which is owned by L'Oréal SA, will return to the U.K. with the opening of a store in department store chain Harrods Ltd. in October, Women's Wear Daily reported.

FOOD AND STAPLES RETAILING

* Australian retailers including Coles Group Ltd. and Woolworths Group Ltd., along with the local unit of Aldi Einkauf GmbH & Co. oHG, are collaborating in an industrywide pledge that aims to end staff abuse by customers, Inside FMCG reported. The pledge, led by trade union Shop, Distributive and Allied Employees' Association, reportedly plans to create a safer environment for retail workers.

HOUSEHOLD DURABLES AND SPECIALTY RETAIL

* Whirlpool Corp. declared a dividend of $1.20 per share, unchanged from the previous quarter, payable Dec. 15 to shareholders of record as of Nov. 15.

* Cox & Cox promoted Richard Bell to the role of CEO after its former COO helped the British home interiors retailer post a 35% increase in sales, driven by sharp growth in profitability through its focus on customer metrics and new range launches.

* Sports Direct International PLC urged authorities to launch a wide market review of Nike Inc.'s and Adidas AG's dominance in sportswear. The statement follows a report by The Sunday Times that said Nike will end its supply agreements with independent retailers by 2021 as they are "no longer aligned" with the company's distribution strategy.

LEISURE PRODUCTS AND FACILITIES

* Lego Group is "totally open" to a potential rental service for its building bricks as one of several ideas to produce the highest value for its products, but there might be "some technical barriers," the Financial Times reported, citing Tim Brooks, vice president for sustainability.

CASINOS AND GAMING

* Travellers International Hotel Group Inc. secured approval to delist its shares from the Philippine Stock Exchange, BusinessWorld reported, citing a PSE memorandum. "Subject to the payment of the required voluntary delisting fee, the company's shares shall no longer be tradable effective Oct. 21," the memorandum reportedly said.

The day ahead

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

In Asia, the Hang Seng fell 0.07% to 26,503.93, and the Nikkei 225 lifted 1.87% to 22,207.21.

In Europe, around midday, the FTSE 100 fell 0.30% to 7,191.84, and the Euronext 100 was up 0.50% to 1,095.97.

On the macro front

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.

The Daily Dose is updated as of 8 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.