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Mastercard: Canada trailed U.S. in December sales growth
New York -- A report released Wednesday by MasterCard revealed that Canadian retail sales, which grew just 1.6% in December, trailed the U.S., which also posted less than stellar results for the month.
Sales in the U.S. advanced 2.4% in December.
Canada’s results were particularly disappointing, considering the country’s December sales grew 4.3% in December 2011, according to MasterCard’s SpendingPulse report. -
PPR to expand Christopher Kane brand and open boutiques
Paris -- French luxury group PPR’s Tuesday announcement that it has acquired 51% of British fashion brand Christopher Kane means that the luxury designer will soon have branded boutiques. The first is slated to open in London as early as 2014.
According to a report by Reuters, the deal is part of PPR's strategy to add to its luxury portfolio with small brands that have growth potential.
"We think it can become a sizeable business," Alexis Babeau, managing director of PPR's luxury division, told Reuters on Tuesday.