Woolworths Holdings Ltd. of South Africa is using a $2 billion takeover of Australia’s David Jones Ltd. to challenge fashion retailers Inditex SA, Hennes & Mauritz AB and Fast Retailing Co. in the southern hemisphere.
U.S. stocks fell, erasing this year’s gains for the Standard & Poor’s 500 Index, as weaker- than-forecast data from China and tension in Ukraine overshadowed reports showing an improving American economy.
Calvin Klein, the largest brand owned by Phillips-Van Heusen Corp., expects sales in China to increase as much as 30 percent annually over the next three years, making the nation its biggest Asian market.
Australia will become the first country to require cigarettes to be sold in uniform packages after its top court rejected a challenge from tobacco companies, setting a precedent for other nations to follow.
PVH Corp., the owner of the Tommy Hilfiger brand, agreed to buy Warnaco Group Inc. in a $2.9 billion transaction, bringing all Calvin Klein-branded apparel under one roof in the largest clothing-industry deal announced in 2012.
Fashion designer Calvin Klein was among the VIPs browsing at the world’s biggest art and antiques fair as portraits of King Henry VIII and a New York drag queen were among sales each worth more than $2 million.