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New York City -- Michael Kors Holdings Ltd. is looking to raise as much as $792.3 million in an initial public offering that could value the company at $3.63 billion. The luxury brand, which has 169 stores in North America and 34 in Europe and Japan, said in a regulatory filing that it is offering 41.7 million shares on behalf of existing shareholders for $17 to $19 each. For the six month period ending October 1, the company recorded net sales of $520.2 million and profit of $64.7 million. Profits more than doubled from the year-ago-period. Morgan Stanley, JPMorgan

Pennsylvania's Department of Revenue issued a Tax Bulletin on Thursday as part of what it called an effort to explain existing sales tax nexus law for remote sellers and to clarify its authority to require ecommerce and other out-of-state sellers with physical presence in Pennsylvania to collect sales tax. The department also said it would begin allowing individuals to self-report use tax on the Pennsylvania personal income tax return beginning in January 2012. In the agency's press statement, Revenue Secretary Dan Meuser said, "Our goal with regard to e-commerce and remote sellers is two-fold. On one hand, we're clarifying

WOONSOCKET, R.I. — CVS Caremark has announced the appointment of Randy Falkenrath as SVP specialty pharmacy, with responsibility for the ongoing development of clinical programs and product management to support the company's specialty pharmacy business. Falkenrath brings more than 26 years of experience in the health plan, pharmaceutical and medical device industries to his new position at CVS Caremark. Over the past nine months, Falkenrath worked within the company's specialty field operations group. Prior to joining CVS Caremark, Falkenrath was SVP specialty pharmacy and business development for UnitedHealthcare's commercial pharmacy benefit management business. Previously, Falkenrath was a partner in

In a move to deliver a direct customer experience, Atlantis WeatherGear, retailer of apparel for sailing and the coastal lifestyle, teamed up with Cloudveil to open their new “A&C” concept store at 140 Washington St. in historic downtown Marblehead, Mass. The name “A&C” is rooted in the store’s theme, which combines two American outdoor apparel brands, Atlantis and Cloudveil, the first inspired by the coastal lifestyle and the latter a mountain-inspired brand born in Jackson Hole, Wyo. The complementary nature of these brands will provide the latest in technical outdoor apparel to customers year-round. Both brands are now headquartered

The Wall Street Journal said Google is planning to launch a shipping service to compete with Amazon Prime. Google's service would let consumers shop for goods from online retailers in its network and receive orders within one day for a low fee. Amazon's optional Prime membership program costs $79 for a year of free 2-day shipping, or 1-day shipping for $3.99 per item. The Google service described by the Journal sounds similar to ShopRunner, and the revelation may have analysts wondering why eBay gave away majority control of ShopRunner when it acquired its parent company GSI Commerce. The Wall

Bharti Walmart, a joint venture between Bharti Enterprises, an India-based business group, and Walmart, announced plans to open 10 to 12 new Best Price Modern Wholesale cash-and-carry stores, which will employ approximately 3,000-4,000 people, by end of this year. Last week, the Indian cabinet approved a 51 percent foreign direct investment (FDI) in multi-brand retailing and an 100 percent FDI in single-brand retailing, opening the door for hypermarkets and supermarkets such as Walmart and Tesco. Allowing 51 percent FDI in multi-brand retail is an important first step, says Raj Jain, Walmart India president and managing director and chief executive

Cincinnati -- Kroger Co. on Thursday raised its full-year forecast and also projected earnings growth for its next fiscal year that was ahead of long-term goals even as its profit slipped 2% in the third quarter. The chain reported profit of $195.9 million profit for the quarter ended Nov. 5, down from $202.2 million a year earlier. Still, its results topped Wall Street expectations. Revenue rose 10%, including fuel, to $20.59 billion from $18.7 billion in the year-ago period, and same-store sales gained 5%, without fuel. Analysts expected $20.4 billion in revenue.

(BUSINESS WIRE) -- Macy's, Inc. (NYSE:M) today reported total sales of $2.465 billion for the four weeks ended Nov. 26, 2011, an increase of 5.3 percent compared with total sales of $2.341 billion in the four weeks ended Nov. 27, 2010. On a same-store...

Home furnishings retailer West Elm, a division of Williams-Sonoma, plans to open a pop-up shop in Westport, Conn. on Dec. 8. The store will be the brand’s first-ever pop-up shop in Connecticut. The shop will offer an assortment of furniture, décor, seasonal trim and unique gifts.