The United States’ largest mall owner announced that it has been seeing strong growth in traffic during an earnings call on Monday, but is still cautious in its outlook. The company’s revenues fell 0.08% in Q1.
Just three months after being acquired by new owners, Brooks Brothers is off to a fresh start under the aegis of Ken Ohashi and Michael Bastian, its new president and newly appointed creative director, respectively.
France's LVMH faces an uphill battle in walking away from its $16 billion deal to buy U.S. jeweler Tiffany & Co, with legal experts noting most mergers which end up in court are renegotiated rather than dissolved.
J.C. Penney's talks with landlords for a rescue from bankruptcy proceedings reached an impasse, pushing the department store to the brink of collapse unless it can reach a deal within days to be taken over by lenders.
Brooks Brothers has said that Authentic Brands Group and malls giant Simon Property Group have it in their sights with a $300m+ bid and plans to save “at least” 125 stores. But other bids could still derail the plan.