Retail news round-up: Abercrombie & Fitch search for takeover interest, Amazon upgrades its Echo device and private firms asked to adhere to governance rules
Abercrombie & Fitch poised for sale
Abercrombie & Fitch has hired Perella Weinberg Partners to handle takeover approaches, Reuters reported.
The US fashion chain's shares are trading at a 17-year low, making it an acquisition target, but sources close to the situation said there was no certainty a deal will occur.
Both companies declined to comment.
Amazon to upgrade Amazon Echo device
Amazon is planning to upgrade its Echo device by adding a front-facing camera and seven-inch touch screen.
The new Alexa-powered gadget will cost £219.99 in the UK.
Customers can place and receive calls and messages using voice command.
Private firms asked to adhere to governance rules
The Institute of Directors (IoD) has asked private companies to comply with governance rules to avoid another BHS-like pension scandal, The Telegraph reported.
According to the lobby group, tightening of controls on unlisted businesses “would open up the ‘black box’ of governance”.
The IoD wants the threshold for the size of the company covered lowered to protect a wider section of the workforce.