Business

Wednesday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Wednesday’s business headlines.

Marriott

The virus is still wreaking havoc on hotels.

Marriott says revenue was down 72% and hotels are now 30% full.

Despite that, Marriott executives say it looks like the worst is over although it is worried about the work from home trend hurting business travel.

Simon malls

It looks like Brooks Brothers is about to be acquired by a Simon-authentic brands venture.

Another bidder brand-licensing company WHP Global has bowed out of the race for Brooks Brothers.

The Simon joint venture has its won name called Sparc.

It had bid $305 million for Brooks Brothers last month.

Kroger

Kroger is launching an e-commerce marketplace to rival giants like Amazon.

Kroger Ship will now offer 50,000 products across categories like food, housewares and toys.

This will let Kroger offer “more-relevant products” by broadening its e-commerce operations to include third-party sellers.

Home sales

Forty-six percent of homes that went under contract in July found a buyer within two weeks of their market debut, according to RedFin.com.

This is the highest level RedFind has seen since at least 2012.

Also, homes are selling closer than ever to their list price.

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