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June 24, 2015 at 1:41 pm
After getting fired from American Apparel in December for “alleged misconduct and violations of company policy,” former CEO and founder Dov Charney is not going down without a fight. The company is now responding to a recent slew of defamations lawsuits he’s filed against it, outlining some pretty graphic allegations in recent court filings. American…
June 24, 2015 at 1:27 pm
Cosmetics and fragrance maker Coty said its interim CEO will continue in that role, and Elio Leoni Sceti, who was slated to become its CEO in about a week, won't be joining the company. The company says it will pay Leoni Sceti $1.8 million in severance and buy back preferred stock he had bought. Chairman…
June 24, 2015 at 1:19 pm
It’s been just three weeks since several current and former Zara executives hit the Spanish retail giant with a $40 million discrimination lawsuit, and a new report suggests that Zara's discriminatory behavior may carry over to its stores. Between February and April, the Center for Popular Democracy surveyed 251 Zara employees in New York, releasing…
June 23, 2015 at 2:34 pm
Marvin Ellison didn’t start out in a cushy executive training program after his parents paid to send him to an elite college. No, Ellison has one of those other storybook backgrounds, the kind that inspire us to plant the American flag in our front yards on federal holidays. He’s the real American dream, and he’s…
June 23, 2015 at 2:28 pm
Wal-Mart and Sears, two of the country's largest retailers, will remove all Confederate flag merchandise from their stores. The announcements are the latest indication that the flag, a symbol of the slave-holding South, has become toxic in the aftermath of a shooting last week at a historic African-American church in Charleston, S.C. Gov. Nikki Haley…
June 23, 2015 at 2:21 pm
The empire Martha Stewart constructed on the strength of cooking tips, consumer media and home products will end its tenure as an independent company. Sequential Brands Group, which controls properties like Linens 'n Things and And1, has reached a deal to acquire Martha Stewart Living Omnimedia for $353 million. Stewart will become chief creative officer…
June 23, 2015 at 2:11 pm
Alibaba Group Holding Ltd. will sell its U.S. website 11 Main to rival online marketplace OpenSky, with merchants saying they grew disenchanted with the Chinese company’s first experiment in American e-commerce. Alibaba will hold a stake in the combined entity, according to an emailed statement Tuesday. The boutique website sought to replicate a Main Street…
June 23, 2015 at 2:07 pm
Once-iconic American retailer Gap is in trouble. The brand was once so cool that Sharon Stone wore one of its turtlenecks to the Oscars. Today, the company is closing a quarter of its stores amid declining sales. Sales at the brand that once dominated mall retail have declined for 13 straight months, according to Hiroko…
June 22, 2015 at 2:55 pm
Amazon.com is rolling out a big change to its customer reviews system in the U.S., introducing a new machine-learning platform it developed in-house to surface newer and more helpful reviews. The change, which started Friday, will probably go unnoticed at first, as the e-commerce giant's new platform gradually starts altering the star ratings and top…
June 22, 2015 at 2:52 pm
CVS Health Corp. on Thursday officially opened its Digital Innovation Lab in Boston that will focus on developing cutting-edge, integrated digital technology services for the company's pharmacy and health customers. The office is considered a satellite of the Digital Experience Office that the company opened in September at its headquarters in Woonsocket, R.I. The Boston…
