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French Regulator Approves Hermes Anti-Takeover Plan

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Paris—Hermès’ majority shareholders—descendants of the luxurygoods brand’s founding family—won an important round in their battle to keep LVMH Moet Hennessy Louis Vuitton from taking control of the company. On Thursday, Autorite des Marches Financiers (AMF), the French stock market regulator, ruled in favor of the family shareholders who shareholders decided …

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LVMH Increases Stake in Hermes Again

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Paris—In a brief statement released today, LVMH Moët Hennessy Louis Vuitton (LVMH) announced that it has increased its stake in luxurygoods rival Hermès International. As of today, LVMH holds 21,338,675 shares, about 20.21% of the 173-year-old French brand. “Friendly” Intentions? LVMH, led by billionaire Bernard Arnault chairman, unleashed the wrath …

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Nordstrom, Saks Q3 Profits Rise, Predict Better Q4 Sales

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Women are returning to buying full-price fashion classifications, especially dresses, footwear and fashion jewelry, according to quarterly sales reports from two leading better specialty retailers, Nordstrom and Saks Inc. Both reported profit increases in their third quarters and both expect their fourth quarter sales to rise in the mid-single digits. …