CARREFOUR'S SPANISH FOOTPRINT: Carrefour, the world's second-largest retailer behind Wal-Mart, on Monday strengthened its position in the competitive Spanish market by buying 250 hard discount stores. The French firm said it would acquire the Plus store chain from Spain's Tengelmann for 200 million euros, or about $275.6 million at current exchange. The transaction was conducted through Carrefour's Dia subsidiary, which already runs 2,806 stores in the country with sales last year of 3.5 billion euros, or $4.45 billion. Carrefour has struggled in France because of cooled consumer spending and discount competition. The firm has been unloading less-profitable operations in Japan, South Korea and Mexico, while bulking up in promising markets. In April, Carrefour bought 34 discount hypermarkets in Brazil for more than $1 billion.
H&M JUNE SALES: Hennes & Mauritz on Monday said sales in June advanced 17 percent, edging most analysts' consensus expectations. On a like-for-like basis, the Swedish fast-fashion firm said sales grew 5 percent. Last month, H&M's like-for-like sales declined 2 percent. At the end of June, H&M had 1,420 stores.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"