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February 26, 2013
Terry Lundgren, CEO of Macy’s, took the stand on Monday to testify in the trial of two Macy's lawsuits regarding the deal between J.C. Penney and Martha Stewart Living Omnimedia Inc. The long-awaited trial began last Wednesday in New York Supreme Court. Testifying, Lundgren said he was shocked when Martha Stewart, who at the time he considered a friend, called to tell him about her arrangement with J.C. Penney. "I was completely shocked and blown away," Lundgren said. "I was literally sick to my stomach."
February 25, 2013
The NAACP and the community organization group TakeAction Minnesota accused Target Corp. of unfair hiring practices in 10 formal complaints filed with the U.S. Equal Employment Opportunity Commission (EEOC). The NAACP and the community group allege the retailer's hiring practices discriminate against applicants with criminal records. In a news conference in Minneapolis, the groups accused Target of denying people with criminal records job interviews, even when the alleged crime was old, expunged or irrelevant to the prospective job.
February 25, 2013
Barnes & Noble Founder and Chairman Leonard Riggio has notified the company's board of directors of his intentions to purchase the company's retail business. The process of evaluating a proposal and negotiation of any transaction will be overseen by a strategic committee of three independent directors: David G. Golden, David A. Wilson and Patricia L. Higgins, who is chair of the strategic committee.
February 25, 2013
Move over flash sales and online fashion discount sites, one of the biggest off-price retailers in America is about to launch e-commerce. According to reports this morning, T.J.Maxx and Marshalls are set to announce plans to enter the world of online shopping. Currently a brick-and-mortar operation, T.J.Maxx and Marshalls sold $25.9 billion worth of merchandise last year alone. With a designer roster that spans mass market household names to high-end Italian luxury labels, this is one new e-commerce player to watch.
February 25, 2013
PayPal announced it has expanded its retail in-store payment acceptance to more than 18,000 locations covering 23 chains. The 23 national brand name retailers now taking PayPal are Famous Footwear, Dollar General, Mapco Express, RadioShack, Spartan...
February 25, 2013
HOUSTON, — Apparel and accessories retailer Francesca's Holdings has named Richard Kunes as an independent director to its board of directors, effective Feb. 25, 2013. Since August 2012, Kunes has served as EVP and senior advisor to the CEO at The Estee...
February 25, 2013
CONSHOHOCKEN, Pa. — American fans of Ikea’s Swedish meatballs can rest easy following clarification from the company regarding the origin of beef and pork found in meatballs sold at U.S. stores. "Customer confidence is of the upmost importance to Ikea....
February 25, 2013
February 25, 2013
Marks & Spencer has installed 10 virtual try-on mirrors from Taaz, Inc., allowing consumers to see how they look in different cosmetics and nail polish prior to making a purchase.
February 25, 2013
Warby Parker, the hip purveyor of retro-style glasses, has solidified ties with two of its most prominent fans. Now the three-year-old startup can count Millard S. Drexler, the chief executive of J.Crew, and American Express as participants in its latest round of financing, which closed last month at $41.5 million. The two join an already expansive group of investors that includes General Catalyst Partners, Spark Capital, Tiger Global Management, Thrive Capital and Menlo Ventures.
