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What’s going on in the world of retail?

While we mostly cover local news on Inside Retail, we know retailers operate in a global economy and are affected by trends and changes taking place internationally.

As such, we’re kicking off a new weekly round-up of the biggest global news stories so you can stay informed about the industry beyond our little island.

Lush and Bonjour sued over unpaid Hong Kong rent

Source: Inside Retail Asia

Cosmetics companies Lush and Bonjour have fallen victim to the coronavirus crisis and are facing legal action over unpaid rent.

Bonjour saw falling sales last year, citing fewer visitors from Mainland China in the wake of political protests.

Neiman Marcus creditor calls for deal with Saks Fifth Avenue

Source: Reuters

Hedge fund managers have asked the directors of collapsed retailer Neiman Marcus to explore a merger combination with rival Saks Fifth Avenue.

According to Reuters, the merger could create up to US$4.7 billion of value.

Carrefour Brasil seeks to grow even as economy shrinks

Source: Reuters

The Brazilian grocery chain expects to continue to grow even as the economy further deteriorates, with Brazil suffering the worst coronavirus outbreak in emerging markets.

Carrefours shares slipped 2.2 per cent after net income fell 16 per cent in the first quarter.

Amazon asks Congress to pass a law against price gouging during national crisis

Source: The Verge

In an open letter, Amazon’s VP of public policy Brian Huseman said it can only do so much on its own, and that inconsistent state standards limit its ability to crack down on the issue.

A federal law, however, would ensure proper protection for Americans and help retailers to deal with scalpers.

Dolce & Gabbana will lose out from virus

Source: Reuters

Founders Domenico Dolce and Stefano Gabbana said the business has seen an unfortunate series of months and will continue to as the coronavirus crisis continues.

The pair didn’t give further details.

Ikea-owner plans US shopping mall buy up

Source: Reuters

Ingka’s shopping mall arm, Ingka Centres, is planning a major entry into the US in the next few years, and is in talks to purchase central properties in major cities.

The business is currently looking at New York, Los Angeles, San Francisco and Chicago.

J.C. Penney in talks for bankruptcy loan

Source: Business of Fashion

J.C. Penney is negotiating a bankruptcy deal with various lenders in exchange for control of the company.

The deal would be included in an allegedly imminent chapter 11 court filing.

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