BUSINESS NEWS ROUNDUP

Rue La La to buy Gilt

Flash sale site Rue La La said Monday it will buy rival Gilt from department store chain Hudson’s Bay as it seeks to fortify its presence in the world of online discount luxury.

Hudson’s Bay, which operates Saks Fifth Avenue and Lord & Taylor among other chains, bought Gilt for $250 million in 2016, and created Gilt shops inside its discount chain Saks Off Fifth. At the time, Hudson’s Bay touted the deal as a way to rev up its online engine, but it failed to deliver a big benefit.

The terms of Monday’s deal were not immediately disclosed.

The new company will be called Rue Gilt Groupe, though Rue La La and Gilt will still operate their sites independently.

Veterans’ program slow

A key program being expanded by the Trump administration to give veterans greater access to private doctors has failed to provide care within 30 days as promised due to faulty data and poor record-keeping that could take years to remedy, according to a government investigation released Monday.

The Government Accountability Office, Congress’ auditing arm, found that veterans often had to wait between 51 and 64 days for appointments with private doctors under the Veterans Choice program. It cited a lengthy scheduling process that took as long as 70 days.

The report blamed in part bureaucratic inefficiency and understaffing at the Department of Veterans Affairs, which often took weeks to make a referral to a private doctor.

Palo Alto Networks

Palo Alto Networks lost $46.7 million in its fiscal third quarter.

The Santa Clara company said it lost 51 cents per share. Earnings, adjusted for one-time gains and costs, came to 99 cents per share, topping forecasts.

It had revenue of $567.1 million, also beating Street forecasts.