November 04, 2022
Happy Friday, Retail readers. Newsletter editor Claire Rychlewski here with your weekly deals digest.
But first ... some news of note.
1. News of note
French luxury giant and Gucci parent Kering is in advanced talks to buy fashion brand Tom Ford, the Wall Street Journal reported.
- The last we heard, Estée Lauder was the lead bidder for Tom Ford, in a deal worth a potential $3 billion-plus.
- Estée reported underwhelming financial results this week amid a difficult environment for retailers.
- There is no guarantee Kering and Tom Ford reach a deal, WSJ cautions.
Unions of Kroger and Albertsons, along with antitrust experts, have called for the Federal Trade Commission to block the impending merger.
- "The merger should be blocked, as it would harm workers, consumers and communities," said the United Food & Commercial Workers Local 400, which authored the letter.
- The message was cosigned by seven UFCW local chapters representing more than 100,000 Kroger and Albertsons workers.
- Another 26 organizations, including the American Economic Liberties Project and the Center for Economic and Policy Research, also signed the letter.
Separately, a Washington state court temporarily blocked Albertsons' planned $4 billion payment to shareholders.