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As Amazon.com positions itself to become the biggest apparel retailer in the market, the outcome for this shopping-mall mainstay looks bleak. It was expected that when Linens n Things went bankrupt, Bed Bath & Beyond (NASDAQ: BBBY) would pick up the ball and keep running downfield. Instead, Amazon suddenly became a viable competitor to home goods retailers, even as mass merchandisers like Walmart, Costco, and Target expanded their selections. Bed Bath & Beyond also made a major mistake in almost completely ignoring the online space. It wasn't until late in the game that it made a concerted effort to build up its e-commerce presence, and even then it got distracted, creating failed "flash sale" site One King's Lane and branching out into more categories that are far afield from its core competency. In addition to Buybuy Baby, Christmas Tree Shops, Harmon Face Value, and Cost Plus World Market, it also owns Of a Kind, PersonalizationMall.com, Chef Central, Decorist, and Linen Holdings. And now there are more competitors encroaching on its territory, such as At Home, a sprawling home decor supercenter. In the wake of its niche's upheaval, Bed Bath & Beyond may have made itself superfluous. Sign at a Bed Bath & Beyond store on April 10, 2013 in Los Angeles, California. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Rich Duprey has no position in any of the stocks mentioned.
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The fantasy is no longer a pipe dream for thousands of women in Paris, the world’s fashion capital, where hiring luxury clothes and handbags is beginning to catch on. A new service has started which allows fashionistas to rent Dior, Gucci, Saint Laurent and other luxury brand handbags for as little as €10 ($11) a day. A €4,500 classic Chanel black shoulder bag can be hired for €25 a day, although customers have also to cough up €20 in insurance and pay for a courier to deliver the bag to their door. Yann Le Floch, founder of the Instant Luxe website, which already sells secondhand designer clothes and bags to its one million members, said the site was responding to a new “pattern of consumption” where women see no shame in renting their wardrobe. In his view, many women would rather use than own a luxury bag, which is why his company has begun renting out about “20 classic handbag styles for a minimum of four nights,” he told AFP. “Uber has changed transport, Airbnb accommodation and habits are changing in the luxury goods market too,” Le Floch said. “We are changing our consumption habits from ownership to use. And people are not renting just for special occasions but to treat themselves,” he added. While France has long had a thriving market in secondhand designer clothes and bags, fans of luxury labels have been much more reluctant about renting until quite recently, even as “the market has exploded in the US,” she said.
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Brazilian minister quits in sign of rift in Temer's coalition Puerto Rico requests $94.4 billion from Congress for rebuild BlackRock's Fink says no need for hysteria in markets November 13, 2017 / 9:08 PM / Updated an hour ago Brazilian minister quits in sign of rift in Temer's coalition BRASILIA (Reuters) - One of four ministers representing a centrist Brazilian party in President Michel Temer’s government resigned on Monday, underscoring a rift between the embattled leader and one of his most powerful coalition partners. Bruno Araujo said in a resignation letter that while he respected the autonomy Temer had given him as head of the Ministry of Cities, his Brazilian Social Democracy Party (PSDB) no longer supported him remaining in the position. An intense internal debate within the PSDB is playing out, with younger lawmakers urging it to abandon the scandal-plagued Temer government and elders countering that support should be maintained to provide the stability for the nation. In late October, however, government sources told Reuters that Temer planned to shuffle his cabinet and to push out PSDB members after a majority of its lawmakers in the lower house of Congress voted to put him on trial on allegations of corruption. Temer managed to avoid a trial. Members of the PSDB have said that while they support the economic reforms of the Temer government, they now consider him to be too fragile a leader to attempt an overhaul of the country’s pension system, a move that is viewed as key to plugging the government’s budget deficit. The PSDB also plans to stand its own candidate for the presidential election next October, and many of its members want to distance themselves from the deeply unpopular Temer government to better their chances at the polls. Reporting by Lisandra Paraguassu; Editing by Paul Simaohttp://www.reuters.com/article/us-brazil-politics-minister/brazilian-minister-quits-in-sign-of-rift-in-temers-coalition-idUSKBN1DD2MF?feedType=RSS&feedName=worldNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Reuters%2FworldNews+%28Reuters+World+News%29
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