- The boards of the luxury companies have been discussing a potential deal since last month between Tiffany and LVMH, and will meet on Sunday to approve a final plan. Story from Emma Newburger.
- Gap Inc.’s problems continued in the third quarter amid disappointing performances across all three of its divisions. It has been made clear that the departure of Peck would not alter Gap’s plans to spin off its value-oriented Old Navy division, saying that he and board continue to believe “in the strategic rational of the separation.” Coverage from Marianne Wilson.
Source: LVMH reaches deal to acquire Tiffany for $16.3 billion | CNBC
Source: Gap’s Q3 income plunges amid falling sales; Old Navy spin-off plans move forward | CSA