Ten years after acquiring the Family Dollar brand in an effort to fit it into its wider bargain store business, Dollar Tree is selling off the retailer for $1 billion. The Virginia-based company announced Wednesday it was selling Family Dollar to private capital firms Brigade Capital Management and Macellum Capital Management. The deal is expected…
Marie Albiges
Beyond, the parent company of Bed Bath & Beyond, buybuy Baby, Overstock, and Zulily, announced Tuesday it was selling off its Zulily brand to Lyons Trading Company for $5 million. Beyond will keep a 25 percent stake in the brand, according to a press release. The announcement comes one year after Beyond acquired Zulily. Lyons Trading…
CVS is focusing on the health side of its business by launching a handful of pharmacy-only, smaller format stores, multiple news outlets reported. The dozen or so stores — expected to open later this year in select, unnamed locations — will come without the snacks, greeting cards and other consumable staples found in traditional CVS…
Kelly Cook, who currently serves as David's Bridal's brand, technology and finance president, will become CEO of the company and attempt to position it as a digital-first media company to attract new customers, CNBC reported Wednesday. Cook will succeed current CEO Jim Marcum on April 1, according to a company press release. Marcum will become…
Qurate Retail Group, known for its portfolio of live social shopping brands including QVC and HSN, announced Friday that it has officially rebranded to QVC Group, Inc. as it leans into streaming and social. QVC Group's other brands include Ballard Designs, Frontgate, Garnet Hill, and Grandin Road. In November, the Pennsylvania-based company announced plans to…
The fashion holding company Tapestry said Wednesday that it has agreed to sell the Stuart Weitzman brand to Caleres, which owns several footwear brands, including Famous Footwear. Caleres will spend $105 million in cash on Stuart Weitzman, which sells luxury shoes and boots and was created by its namesake in 1986. Tapestry and Caleres said…
Greg Scott, best known for his role as CEO of New York & Company, has been named to the chief executive position at Bonobos and Express, effective Feb. 19. PHOENIX, Express and Bonobos' parent company, said Scott will oversee all DTC operations for the two brands, including retail stores and e-commerce. Scott served as CEO…
China announced it was levying tariffs on select imported U.S. goods Tuesday in response to President Donald Trump's imposed 10 percent tariffs on China, which went into effect Tuesday. The Associated Press reported that China would implement a 15 percent tariff on coal and liquefied natural gas (LNG) products as well as a 10 percent…
Toothpaste, condoms, makeup and deodorants are among dozens of products under lock and key inside clear cabinets at drugstores like CVS in order to deter thieves from shoplifting. It's become a source of inconvenience — for both customers who have to wait for a salesperson to unlock the cabinet, and for employees to stop what…
In a move meant to create an integrated, automated supply chain, Walmart has struck a deal with artificial intelligence-enabled robotics technology company Symbotic. Walmart said in a press release it would invest $520 million in Symbotic's AI-powered robotics platform, which will accelerate online pickup and delivery options and develop new pickup and delivery fulfillment systems.…
Galaxy Universal, which owns a number of athletic apparel and footwear brands, has acquired Reebok's U.S. operations and its design group. Sparc Group, which has been the operating partner for Reebok in the U.S. since 2021, announced the news in a press release last week that also shared the details of its merger with JCPenney.…
Jeans brand True Religion has been acquired by private equity firm ACON Investments and retail investment firm SB360 Capital Partners, according to a press release sent by ACON Tuesday. The terms of the deal weren't disclosed. The investment fund SB360 Capital Partners is chaired by Jay Schottenstein, American Eagle's CEO. True Religion's CEO Michael Buckley…
Thirty-six percent of Americans planned to shop for gifts this holiday season on Chinese online marketplaces such as Temu and Shein, a new survey from e-commerce marketing platform Omnisend found. The survey, which asked 1,000 Americans about their holiday shopping plans, found that 82 percent of American shoppers are doing their holiday gift buying online…
Washington D.C.'s attorney general sued Amazon.com on Wednesday, alleging the e-commerce giant excludes certain D.C-area neighborhoods from having access to Prime's fast delivery, according to the lawsuit. Attorney General Brian Schwalb said Amazon had "secretly" excluded two ZIP codes in Washington D.C. from having Prime delivery since 2022, according to a press release from his…
In an effort to stave off competition from discount retailers such as Shein and Temu, Amazon.com announced Wednesday it was rolling out a beta version of a $20-or-less discount store called Amazon Haul, just in time for the holidays. Advertised by Amazon as "Unbelievable finds, crazy low prices," Amazon Haul is only available on mobile…
