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L'Oréal's Latest Beauty Secret: It's Acting Like a Tech Company
February 8, 2016 at 10:26 am

Sticking the My UV Skin patch on your arm is a cinch. It's as simple as applying a Band-Aid or a nicotine patch. There's one crucial difference: This personalized sun protection device has five layers of micron-thin electronics, including near field communication capabilities. But the creators of this particular wearable would just as soon you didn't…

How Honest Company’s IPO Will Impact Other Startups Like Warby Parker
February 8, 2016 at 10:13 am

Honest Company, the consumer products retailer from Jessica Alba that started by selling diapers online, is working with bankers on an IPO, according to a source familiar with the process. Whether the company makes it out into the public market, and how investors value it along the way, will likely be a barometer for what…

Nasty Gal Cuts 10 Percent of Staff
February 5, 2016 at 11:48 am

Online fashion retailer Nasty Gal has laid off 10 percent of its staff, as the purveyor of edgy women’s clothing cuts costs amid an uncertain financing and retail environment. CEO Sheree Waterson told the company in an email that the cuts were necessary as the “market in which we operate is changing, both in retail broadly…

Sports Authority to File for Bankruptcy
February 5, 2016 at 11:41 am

Sports Authority Inc. is preparing to file for bankruptcy as it faces a debt payment due in 10 days, according to people with knowledge of the matter. The Englewood, Colo.-based retailer, once the biggest sporting-goods chain in the U.S., is in talks with lenders including TPG Capital Management LP on a deal to reorganize in Chapter…

J.C. Penney Considering Sale of its Headquarters
February 5, 2016 at 11:31 am

J.C. Penney is pursuing a possible sale and partial leaseback of its headquarters building in Plano, Texas as part of an ongoing effort to reduce debt and manage expenses. CBRE Capital Markets is representing Penney. New owners will also own part of the huge Legacy West project under construction next door that will include the…

Mall CEO Recants: I Have No Idea What Amazon's Plans Are
February 4, 2016 at 10:42 am

On Tuesday, the CEO of General Growth Properties, one of the largest developers of mall properties in the United States, announced during his company’s earnings call that he knew of Amazon.com's plans to build “300 to 400 bookstores.” That sent the internet into a frenzy, with many speculating on the online retailer’s presumably ironic plans…

Michaels Acquires Pat Catan's Craft Stores for $150M
February 4, 2016 at 10:31 am

Pat Catan's Craft Centers, the family-run crafts and decor retailer, has been acquired by the Michaels Companies Inc., the largest arts and crafts retailer in North America, for $150 million. Michaels said Lamrite West, the name of the company Pat Catanzarite founded in 1954 to supply craft supplies, window displays and decorations to Cleveland department stores…

Fanatics Buys European Online Sports Retailer for $17M in Soccer Push
February 4, 2016 at 10:21 am

As a U.S.-based e-commerce company, Fanatics’ sweet spot has been in selling sports apparel branded by American teams. But the company has been eyeing European soccer team apparel as its next big opportunity, and has acquired a U.K.-based company to help it break in. Fanatics has paid $17 million to acquire Kitbag, currently owned by Findel,…

Wal-Mart to Operate its Own Gas Stations
February 4, 2016 at 10:16 am

For most of the past 20 years, Wal-Mart Stores Inc. has let another company build and operate gas stations in the parking lots of its stores. Now, the retailer has decided it wants to pump its own gasoline. Last week, Wal-Mart executives told Murphy USA Inc. that going forward it will build and operate its own…

Lowe's to Acquire Canada's Rona in $2.3B Deal
February 3, 2016 at 10:04 am

Lowe's is expanding its footprint in Canada with a $2.3 billion acquisition of the home improvement retailer Rona. It's Lowe's second run for the company. Lowe's made a $1.9 billion bid for Rona in 2012, but that deal never went through. Chairman and CEO Robert Niblock said in a written statement Wednesday that the acquisition gives Lowe's…