LVMH fashion sales fall 5% as Chinese demand weakens
The luxury group's third-quarter organic sales rose 1% to €18.5 billion, below analysts' expectations, with jewelry and Sephora supporting revenue.
GameStop CEO Cohen buys $22.8 million in shares, taking stake to 9.1%
The purchase added 844,130 shares to Cohen's holdings and followed a $17.1 million stock purchase disclosed in October.
A regulatory filing showed that Ryan Cohen, GameStop's CEO, bought about $22.8 million in stock, taking his ownership of the videogame retailer to 9.1%.
Cohen paid $26.75 to $27 per share for 844,130 shares. Following the purchase, his holdings stood at 46.2 million shares.
He has now made two purchases of GameStop shares in October. A filing with the SEC on October 2 showed a separate purchase worth $17.1 million. The retailer's stock has risen 35.6% since the start of the year.
GameStop had also proposed buying eBay for about $56 billion. The ecommerce company, with a market value roughly four times that of GameStop, turned down the offer.
An August media report said Cohen was considering ending his acquisition pursuit and exploring a partnership or joint venture with eBay instead.