Private-equity firm Sycamore Partners will acquire office supply retailer Staples for around $6.9 billion, the companies said Wednesday. Staples, which shifted its focus to business services after regulators rejected its $6.3 billion acquisition of Office Depot last year, operates 304 stores in Canada and 1,237 in the US.
Germany's Kaufland has begun buying land in Australia, with plans to expand its discount department store chain to the country. The retailer, owned by the same parent as low-price grocer Lidl, is expected to acquire land for distribution centres and 15 to 20 locations before opening its first Australian stores.
Japan's retail sales rose 2% in May from the same month last year, falling short of a forecast for 2.6% growth as sales of apparel, food and durable goods dipped, according to government data. The smaller-than-expected increase followed a 3.2% April rise.
To solidify its majority control of online mall Lazada Group, Alibaba Group Holding will invest another $1 billion into the company. The move allows Alibaba more access to the Southeast Asian market.
Target launched a test of next-day delivery for online purchases in parts of Minneapolis on Tuesday, taking aim at Amazon's Prime Pantry program. For a $4.99 fee, customers can fill a box from a roster of about 10,000 items including food, baby items, household goods and beauty products through the service, dubbed Target Restock.
A new Market 32 by Price Chopper location has opened in Clifton Park, N.Y., and features ready-to-eat foods, expanded natural, organic and gluten-free options and locally made and grown products. The 52,400-square-foot unit is the 15th operating under the Market 32 concept, with parent group Golub Corp. expected to break ground on a location in Maynard, Mass., later this summer and open additional stores in the future.
Under Armour has named former Aldo Group CEO Patrik Frisk as its new president and chief operating officer, reviving the COO title it eliminated two years ago and adding an executive with expertise in shoes as Under Armour looks to the category to take on rivals including Nike and Adidas. The workout wear brand has also named Colin Browne as supply chain chief and Paul Fipps chief technology officer.
Best Buy will expand displays of Amazon Echo and Google Home at 700 stores next month to show shoppers more of the ways the voice-assistant devices can work with other connected home brands and gadgets. More than 220 million devices are expected to work with voice-controlled assistants by 2021, according to IHS Markit.
Chanel has expanded its in-store boutique at the New York City flagship of Saks Fifth Avenue, and redesigned the space with elements of Coco Chanel's Paris apartment. It's the latest in an ongoing renovation project by Saks, which has also included redesigned spaces for designer brands including Oscar de la Renta, Valentino and Gucci.
Amazon has teamed with Coding Dojo in Bellevue, Wash., on a series of workshops designed to teach programmers to create more commands for its Alexa voice-powered assistant. Alexa is already programmed to respond to more than 13,000 commands.
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