Jones Apparel Group Inc.

In the early hours of this morning, the Japanese retailer Fast Retailing declined to match a competing bid to buy Barneys New York, paving the way for the Dubai firm of Istithmar to proceed with its purchase of the chain of fancy stores from Jones Apparel Group.  read more »

Jones Apparel, the owners of Barneys New York who are in the midst of considering bids nearing $1 billion to sell it, announced yesterday that the company's president and C.E.O., Peter Boneparth, is leaving.  read more »

Fast Retailing Inc., the Japanese retail giant that owns the UNIQLO chain of cheap-chic clothing stores and which put together a $900 million bid to buy Barneys New York from the Jones Apparel Group, downgraded its forecast for the third time this business year.

According to Reuters:

Having built up an empire of more than 700 stores in Japan, Fast Retailing has pledged to invest up to 400 billion yen over the next three years on acquisitions in a bid to boost its global presence and double annual sales to 1 trillion yen by 2010.  read more »

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