Fashion/Clothing

Shopping at Target

Target acknowledges data breach extended to encrypted PIN

US retailer Target said that the data breach involving some 40 million of its credit and debit cards included encrypted personal identification numbers, the Financial Times reported.

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Cambodia Workers Strike

Cambodian garment workers hold nationwide strike over wage dispute

Workers from over 120 garment factories in Cambodia on Wednesday held a nationwide strike to demand a higher minimum wage. Cambodia's government initially approved an increase in the industry's minimum wage to $95 a month, well short of the workers' demand for $160.

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Boxing Day

No slump on Boxing Day as UK shoppers spent over £2.7B

A holiday shopping season slump failed to materialize in the UK as shoppers flocked to stores on Boxing Day, giving British retailers a boost, The Telegraph reported.

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Boxing Day

Steep discounts raise doubts on profitability of retailers

While shoppers in the UK and the US spent more for the holidays this year, the profit margin for retailers remains in doubt due to steep discounts, the Financial Times reported.

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Amazon

Amazon.com offers customers gift cards, refunds after UPS delivery failure

Gift cards and shipping refunds were offered by Amazon.com Inc to appease its customers after UPS said it would not be able to deliver some packages by Christmas, Bloomberg reported.

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Holiday Shopping

Retailers' woes continue as US consumers shop less on final weekend before Christmas-report

In spite of the steep price cuts offered, consumers in the US did not do a lot of shopping in brick-and-mortar stores on the weekend before Christmas, Reuters reported.

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Tiffany & Co.

Dutch court orders luxury jewelry retailer Tiffany & Co. to pay Swatch $449M in damages

A Dutch arbitration court on Friday ordered American luxury jewelry retailer Tiffany & Co. to pay Swiss watchmaker Swatch Group $449 million in damages over their failed 20-year joint venture.

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Jones Group Inc.

Jones Group accepts buyout offer from Sycamore Partners

Nine West, Anne Klein and Easy Spirit owner Jones Group have accepted the buyout offer from private equity company Sycamore Partners, The Dealbook reported.

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Target Corp

Customer lawsuits, social media ire, state attorneys general probes target Target Corp due to data breach

After a cyber attack of its systems, Target Corp now has to deal with angry customers venting on social media, customer lawsuits and probes from state attorneys general, the Los Angeles Times reported.

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Holiday Shopping

Retailers get aggressive as holiday shopping nears but shoppers plan to spend less- report

Retailers are going to be ramping up efforts to lure buyers on the final weekend leading up to Christmas but shoppers intend to spend less, Reuters reported.

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Warby Parker

US online eyeglasses retailer Warby Parker scores $60M in Series C funding

New York-based online eyeglasses company Warby Parker has scored $60 million in a Series C funding round from its existing investors to beef up its customer support team.

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Jones New York

Private equity firm Sycamore to acquire Jones Group for $2.2B including debt

Jones Group on Thursday announced that it will be bought by private equity firm Sycamore Partners for $2.2 billion, including the assumption of its debt. Sycamore valued Jones Group shares at $15 apiece.

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Wet Seal Inc.

Activist investor Clinton Group eyes takeover of teen apparel retailer Wet Seal

Hedge fund Clinton Group in a regulatory filing on Wednesday said that it is exploring an acquisition of California-based teen apparel retailer Wet Seal. The activist investor seeks to buy out Wet Seal's equity in a privatization deal.

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Moncler

Moncler to raise a total of €784M in IPO after selling more shares

Italian clothier Moncler is expected to raise a total of about €784 million in its initial public offering after arranging banks Goldman Sachs Group, Bank of American Merrill Lynch and Mediobanca exercised the listing's greenshoe over-allotment option.

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Darty PLC

Darty exits Turkish business to stem losses

Darty, the third-largest electricals retailer in the European region, had agreed to sell Darty Turkey to eliminate losses in non-core markets. Darty has responded to weak consumer spending and competition from online retailers by exiting its loss-making operations.

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