TOP NEWS
* Amazon.com Inc. announced its second annual Digital Day, a shopping event that offers customers deals on digital content, slated to take place Dec. 29. Over 5,000 items across more than eight product categories will be offered, including movies, television shows, mobile games, apps and e-books. Some of the deals will be offered Dec. 26 as a preview of the event.
* Toys R Us Inc., the toy retailer that filed for bankruptcy protection in September, is considering closing 100 U.S. stores after weak holiday sales, Bloomberg reported Dec. 18, citing people "with knowledge" of the situation. However, company spokeswoman Amy von Walter reportedly said, "Final decisions about our real estate portfolio will be done only after careful consideration about the best interests of our business." She added: "Any speculation on that figure is premature and likely to be inaccurate."
APPAREL AND LUXURY GOODS
* Superdry, an apparel brand owned by U.K.-based SuperGroup Plc, has been awarded a contract to supply outfits for the U.K. delegation at the 2018 Invictus Games, an international competition for injured veterans, The Independent reported. The retailer, which will create the outfits for free, made this move to further expand its sports apparel business, the report added.
E-COMMERCE
* Amazon.com Inc. intends to open brick-and-mortar stores in Germany, Quartz reported Dec. 18, citing an interview with Ralf Kleber, head of Amazon Germany, with German newspaper Berliner Morgenpost. Asked about the retailer's strategy in the country, Kleber reportedly told the paper that "it's not a question of if, but when" Amazon would set up physical stores, but he did not disclose a launch date.
* French regulators allege Amazon has abused its dominant market position and are seeking to levy a fine of €10 million, according to a report in French newspaper Le Parisien on Dec. 18. The decision to impose a penalty on the e-commerce retailer reportedly follows an investigation by the consumer fraud office, which concluded that Amazon imposed unfair conditions on small vendors. "We do not comment on outstanding legal proceedings," a spokesperson for Amazon said in an email to S&P Global Market Intelligence.
* U.S.-based apparel designer and retailer Derek Lam International LLC is debuting in China as it opens a flagship store on JD.com Inc.'s luxury e-commerce platform Toplife. The brand will roll out its latest collections, including women's clothes and footwear, on the e-commerce giant's platform.
* The Indian unit of Amazon.com Inc. is set to launch its private smartphone brand called Crafted for Amazon as a move to compete with Indian online retailer Flipkart India Pvt. Ltd., India's The Economic Times reported, citing Amazon India Vice President Manish Tiwary. Flipkart launched its private-label smartphone brand Billion Capture+ in November, the report added.
* Japanese e-commerce retailer Rakuten Inc. partnered with consumer electronics company Bic Camera Inc. to establish a new company called Rakuten BIC, which mainly focuses on consumer electronics. The new company, which aims to provide quick delivery and convenient shopping experiences to consumers, will combine online and offline retailing. The agreement was concluded Dec. 19, and it will become operational in April 2018.
DRUG RETAILING
* Stephen Gold, chief information officer of CVS Health Corp., has left the company, The Wall Street Journal reported. The departure comes before CVS' planned $69 billion acquisition of Aetna Inc., although a CVS spokesman told the Journal that Gold's departure was not related.
HOUSEHOLD AND PERSONAL PRODUCTS
* Colgate-Palmolive Co. agreed to purchase skin care brands PCA Skin and EltaMD, with combined sales of $100 million in 2017, marking the company's foray into the professional skin care market. Details of the deals have not been disclosed, but the transactions are expected to close in the first quarter of 2018 and are subject to customary closing conditions and U.S. antitrust clearance.
SPECIALTY RETAIL
* Steinhoff International Holdings NV, the South African retailer destabilized by an investigation into possible accounting irregularities, on Dec. 19 said that it had nominated its COO Danie van der Merwe, a former High Court attorney, as acting CEO. The company also said that it nominated Alexandre Nodale as deputy CEO and Louis Du Preez, also a qualified attorney who specializes in corporate and commercial matters, as commercial director.
* LG Electronics U.S.A. Inc., a subsidiary of South Korean consumer electronics company LG Electronics Inc., said it partnered with U.K.-based audio and video systems manufacturer Meridian Audio Ltd. to deliver unique audio solutions to consumers. The two companies will work together on a number of LG audio products, including soundbars and wireless speakers.
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