New York City -- Apparel manufacturer and retailer The Jones Group confirmed Tuesday that it is in discussions to divest its jeanswear division for between $350 million to $400 million. The potential buyer is Israeli clothing maker Delta Galil Industries. Jones Group, whose brands include Anne Klein and Nine West, said talks should conclude within a month, but cautioned that no deal has been reached. If the two were to reach a deal, Jones said it would use net proceeds for share repurchases.
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American Apparel, the U.S. clothing retailer known for its controversial advertisements and founder, is bucking the trend in the U.K. and has reported positive sales growth despite the shrinking U.K. consumer's purse.
Dallas -- Tuesday Morning Corp. reported Tuesday that net sales for the quarter ended Sept. 30 edged down 1.2% to $170.7 million, compared with $172.8 million in the year-ago period. Same-store sales for the period declined 4.1%, comprised of a 5.2% decrease in traffic offset by a 1.1% increase in average ticket.
New York City -- Former American Apparel CFO Adrian Kowalewski resigned as executive VP corporate strategy, according to a regulatory filing with the Securities & Exchange Commission this morning, Womenโs Wear Daily reported. Kowalewski entered into a separation agreement, in which he will receive an unpaid base salary through the Oct. 7 separation date, any unreimbursed expenses and vesting of the 1,066,666 unvested shares of restricted stock previously awarded to him, the report said.
As it's been a year since the last JUMP, an annual event dedicated to multichannel business, I thought I'd collate and share a few recent examples of innovative multichannel thinking. Some of these are real success stories. There are plenty of others that I know I've missed out, some of which I'm looking forward to hearing more about.
Urban Outfitters has been busy capitalizing on Native American culture with items such as the "Navajo Hipster Panty." Apparently, these types of products were enough to warrant a cease and desist letter. According to Sasha Houston Brown, Urban Outfitters has already received such a notice from the Navajo Nation Attorney General, who also doesn't seem too keen on things like a Navajo-print flask.
Google has launched Google Trusted Stores, a new pilot program that helps shoppers identify online merchants that offer a great shopping experience. The Google Trusted Store badge is awarded to e-commerce sites that demonstrate a track record of on-time shipping and excellent customer service. When visiting a qualifying store, shoppers can hover over the Google Trusted Store badge and see metrics on the storeโs shipping and customer service performance.
Deerfield, Ill. -- Walgreen Co. said Tuesday it has added two executives to its pharmacy, health and wellness division. Dr. Jeffrey Kang will join the company on Oct. 31 as senior VP health and wellness services and solutions. In addition, Mike Ellis has joined Walgreens as VP specialty pharmacy and infusion. Most recently, Kang was chief medical officer at CIGNA. Ellis has served as senior VP specialty trade relations and contracting and pharmaceutical services for CVS Caremark.
HSN is incorporating QR codes in its TV programming for a four-day series of sales on electronics and other products that fall in the โinnovationโ category. Jill Braff, executive vice president of digital commerce at HSN, says the shopping network was already aware that its viewers were using laptops and mobile devices to research products they were seeing on TV.
New York City -- Bloomingdaleโs 520,000-sq.-ft. Manhattan flagship is undergoing a 100,000-sq.-ft. renovation, Womenโs Wear Daily reported, with bridge, contemporary, home, shoes, fine jewelry and parts of the designer floor included in the remodel. The project is estimated to cost $50 million, according to Womenโs Wear Daily.