Spanish Amazon workers encouraged to strike on cyber Monday
Spain’s CCOO union, which represents warehouse and delivery workers, is calling on Amazon staff to stage a one-hour protest per shift on November 27, 2023 – otherwise known as cyber Monday.
Saks owner cashes in real estate to shore up retail arm
Rumors have been swirling around the financial stability of department store chain Saks with several beauty brands said to have placed the US retailer on credit hold. However, owner HBC has announced that it will pump US$340 million in cash into its retail operations thanks to the sale of assets from its US$7 billion real estate portfolio.
Sephora holds SEPHORiA event in China
Sephora held the first international edition of its SEPHORiA event in China. The LVMH-owned retailer said that the event was also the first certified carbon-neutral event for its Chinese arm.
Kohl’s Q3: Net sales down 5.2 percent but gross margin on the up
Kohl’s has reported its results for the third quarter of fiscal 2023. The US department store chain reported net sales of US$3.8 billion, down 5.2 percent from the year-ago quarter, but gross margin grew 158 basis points to 38.9 percent.
Nordstrom Q3 2023: net sales dive 9.4 percent but profit rising
Nordstrom has reported its results for the third quarter of fiscal 2023. Total company net sales fell 6.8 percent while the eponymous US department store saw net sales decrease 9.4 percent and gross merchandise value fell 9.8 percent compared to the prior year quarter.
Unilever opens global AI laboratory
Unilever has opened a global Artificial Intelligence (AI) Laboratory in Toronto, Canada. The UK-based FMCG giant’s new facility has been dubbed Horizon3 Labs and is party of a wider investment in tech across the business.
L’Oreal prices €1.5 billion dual tranche bond
L’Oreal has announced that it has priced a public bond offering for €1.5 billion. The offering comprises two tranches: a €800 million, three-year fixed rate bond paying 3.375 percent per annum; and a €700 million, six-year fixed rate bond paying 3.375 percent per annum.
Tesco unveils huge beauty drop online
Tesco is following in the footsteps of the likes of Amazon and upping its beauty game. The UK-based supermarket has added some 300 beauty products to its website, from well known brands such as Rimmel and Sally Hansen.
Alibaba snaps up minority interest in Vietnamese beauty chain, Hasaki
Alibaba is said to have agreed to buy a minority stake in Vietnamese beauty retailer Hasaki via its International Digital Commerce Group unit.
Kohl’s President and COO quits after 8 months in the role
Kohl’s President and COO, Dave Alves has left the company after a mere 8 months at the department store and will not be replaced.
Walgreens Pays to Offload Boots Pension
Walgreens is set to pay £1 billion to offload the Boots pension scheme, a move reported by The Sunday Times
Unilever Announces Layoffs at NY Plants
Unilever has announced it will lay off 169 employees at two of its New York manufacturing plants in Amityville and Farmingdale, effective April 2024.
Thomas Myers Appointed PCPC President
The Personal Care Products Council (PCPC) has appointed Thomas F. Myers as its new president and CEO, effective from January 2024.
Haut.AI Secures Funding for AI-Driven Skincare
Haut.AI, a European company at the forefront of generative AI in the beauty and skincare industry, has raised €2 million in seed funding from LongeVC and the venture capital arm of Grupo Boticário shareholders.
POLA ORBIS Restructures for China
POLA ORBIS HOLDINGS INC. has resolved to establish a new subsidiary focused on its operations in China, a decision made by its Board of Directors on November 20, 2023.
Walgreens Pharmacy’s Close for Thanksgiving
Walgreens Boots Alliance has announced an unprecedented decision to close nearly all its stores and pharmacies on Thanksgiving Day.
Sephora Revises Fragrance Sales Strategy Amid Rising Thefts
Sephora has revamped its approach to selling fragrances in response to increased store thefts.
Bath & Body Works Reports Mixed Q3 2023 Results
Bath & Body Works, Inc. has released its financial results for the third quarter of 2023, revealing various achievements and challenges.
Annie Jackson Appointed CEO of Credo Beauty
Credo, a company known for its commitment to sustainable beauty, has appointed its co-founder and COO, Annie Jackson, as the new CEO.
Henkel Triumphs in Chinese Trademark Lawsuit
In a recent trademark infringement case, the Zhejiang High Court ruled against Fuzhou Yiqian Beauty and Hairdressing Co., Ltd. (“Yiqian”), Nanchang Magic Styling Co., Ltd. (“Magic”), and others in favour of Henkel Co., Ltd. (“Henkel”).
Reckitt Benckiser Chair to retire; successor announced
Reckitt Benckiser has announced that Chris Sinclair will retire as Chair and step down from the board, having completed full 9-year term next year following the AGM in May. Sir Jeremy Darroch has been named as his successor.
Target Q3: Sales drop 4.9 percent but profit beats expectations
Target has announced its results for the third quarter of fiscal 2023. The US retailer said that its revenue of US$25.4 billion (-4.2 percent) was consistent with expectations, while its profit beat analysts’ forecasts, with adjusted EPS up 36.3 percent to US$2.10.
Federal judge green lights hair relaxer suit; L’Oreal, Revlon named among defendants
A federal judge has given the nod to a series of claims that chemical hair relaxers made by Revlon and L’Oreal caused cancer and other injuries. The multidistrict litigation totals some 8,000 lawsuits.
Revlon plans 300 more stores for India
Revlon is hoping to double its Indian business before the end of the current financial year. Together with its local partner, Modi-Mundipharma Beauty Products, the company is set to open a further 300 stores.
Walgreens shutters warehouses as stores double up as fulfilment centers
Walgreens Boots Alliance is hoping to speed up online deliveries despite the recent closure of an e-commerce distribution warehouse in Illinois. How? The drug store giant’s 8,700-strong store network will double as fulfilment centers.
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