Story of the Week Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3% Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, the Labor Department reported. Nonfarm payrolls grew by just 114,000 for the month, down from the downwardly […]
Story of the Week Google cancels plans to kill off cookies for advertisers After years of delay, Google says it will no longer cancel and replace third-party cookies — a practice long used by advertisers — for its internet browser Chrome. Cookies are “a small file or part of a file stored on a World Wide Web […]
Story of the Week VF sells Supreme for $1.5B VF Corp. is selling the Supreme brand to EssilorLuxottica for $1.5 billion, according to a securities filing Wednesday. The deal is expected to close by the end of the 2024 calendar year. Supreme generated $538 million in revenue during VF’s latest fiscal year, per the filing, […]
Story of the Week Saks Fifth Avenue parent company to acquire Neiman Marcus Group for $2.6B HBC, parent company of luxury retailer Saks Fifth Avenue, announced it has entered into a definitive agreement to acquire Neiman Marcus Group for $2.65 billion, according to a press release. The purchase will be funded with a combination of […]
Story of the Week Fast fashion retailer Shein confidentially files for London IPO as U.S. listing stalls Shein, the fast fashion giant with links to China, has confidentially filed for a public listing in London as it faces backlash in the U.S., a person familiar with the matter told CNBC. The person was granted anonymity […]