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Tesco mulls sale of Asian businesses; Panasonic to build ¥4.5B factory in China

Editor's note: Today's edition of the Daily Dose was published late due to technical issues. We apologize for the inconvenience.

TOP NEWS

* Tesco PLC's shares jumped 4.6% after the U.K. supermarket operator said it was considering a sale of its businesses in Thailand and Malaysia. The grocery retailer said the move followed "inbound interest."

* Panasonic Corp. will invest ¥4.5 billion to build its first consumer electronics plant in China in 16 years despite the country's ongoing trade war with the U.S., the Nikkei Asian Review reported, citing people familiar with the matter. Sources reportedly said the factory, which will create kitchen appliances that use internet-of-things technology, is expected to begin production in 2021.

TEXTILES, APPAREL AND LUXURY GOODS

* Christian Dior SE launched a pop-up store in the Italian town of Cortina d'Ampezzo through a partnership with luxury retailer Franz Kraler, Women's Wear Daily reported. The shop, which will remain open until April 2020, includes items from the DiorTravel line, which will be launched globally in January 2020.

* Kering SA-owned Gucci's America arm sued more than 36 websites for selling counterfeit products, Women's Wear Daily reported, citing the company's complaint. Gucci reportedly is seeking statutory damages at a rate of $2 million for each fake product that the sites sold. It also sought a restraining order and injunctions to block the sites from selling the items.

* Ted Baker PLC hired investigators from Deloitte to look into its accounts after it was revealed that the U.K. fashion brand overstated the value of its stock by up to £25 million, Sky News reported. Deloitte reportedly will work alongside law firm Freshfields Bruckhaus Deringer LLP. A spokesman for Ted Baker declined to comment on the matter, the report added.

* Italy's Safilo Group SpA acquired 70% of Blenders Eyewear LLC from founder Chase Fisher, Women's Wear Daily reported. The deal values San Diego-based Blenders, which sells sunglasses and snow goggles through its e-commerce platform, at $90 million.

* SMCP Group's French menswear brand De Fursac will open a pop-up shop in British department store Selfridges, Women's Wear Daily reported, citing a joint interview with CEO Elina Kousourna and creative director Alix Le Naour. The site is De Fursac's first overseas location.

MULTILINE RETAIL

* Ortelius Advisors LP, the holder of a 0.5% stake in Hudson's Bay Co., filed a lawsuit against the company and its Executive Chairman Richard Baker, who is leading a take-private deal. Ortelius accused Hudson's Bay and Baker of a "concerted effort to disenfranchise non-insider shareholders and oppress the value of [Hudson's Bay] shares." Separately, proxy adviser group Institutional Shareholder Services recommended that shareholders oppose the deal.

FOOD AND STAPLES RETAILING

* John Lewis Partnership PLC will relocate call center jobs to the Philippines as part of its cost-cutting initiative, letting go of 300 workers at its outsourced call center in Plymouth, England, The Guardian reported, citing affected staff. "The changes at the Plymouth site are part of a wider strategy to strengthen the capacity of our U.K. in-house contact centers, which are run by John Lewis Partners," John Lewis spokeswoman reportedly said.

HOUSEHOLD DURABLES AND SPECIALTY RETAIL

* JS Global Lifestyle Co. Ltd. revived its IPO in Hong Kong, lowering its offer price to HK$5.20 per share from its initial range of HK$5.55 to HK$7.25, the South China Morning Post reported, citing a term sheet. The Chinese appliance maker will use the proceeds, which could reach up to US$381.8 million if an overallotment option is fully exercised, to pay down debt, among others. The shares are expected to begin trading on Dec. 18, the report said.

* U.K-based photo retailing chain Jessops Europe Ltd. called in administrators for the second time since 2013, putting 500 jobs at risk across its 46 stores, Retail Gazette reported.

CASINO AND GAMING

* VICI Properties Inc. completed its acquisition of the land and real estate assets of three properties owned by casino operator Eldorado Resorts Inc. for $278.0 million in an all-cash deal. The casino real estate investment trust also entered into a triple-net master lease agreement with another operator, Century Casinos Inc.

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.