Legal
July 7, 2016 at 10:22 am
Walgreens is confident that its acquisition of Rite Aid will close by the end of this year, and CEO Stefano Pessina reports only about 500 stores would need to be sold to address regulator’s antitrust concerns. Analysts first predicted that anywhere from 1,000 to 3,000 stores would need to sell to satisfy the Federal Trade…
July 6, 2016 at 1:58 pm
Abercrombie & Fitch last week filed litigation against Gap for the recent hire of Craig Brommers as chief marketing officer of Gap's namesake brand. In January, Gap had hired Mr. Brommers to help with the company’s turnaround. Brommers had been the senior vice president of marketing at Abercrombie for three years. The lawsuit alleges Brommers…
June 28, 2016 at 12:42 pm
Ikea is recalling a popular line of low-cost dressers after the deaths of three children in the past two years.
June 22, 2016 at 12:38 pm
Yesterday, Trader Joe's, the popular California-based company, was the third supermarket retailer (after Safeway and Costco) in recent years to agree to put funds towards reducing refrigerator coolant leaks that deplete the ozone layer and contribute to global warming. The Los Angeles Times reports the grocery retailer will spend about $2 million to correct the…
June 17, 2016 at 12:40 pm
In today’s news roundup, find out why Revlon is buying Elizabeth Arden; the reason Amazon is cutting its shipping fees for certain products; and what a new postal reform bill may look like.
June 2, 2016 at 11:14 am
Amazon.com, which has sued more than 1,000 parties for allegedly offering fake reviews for sale to post on the retailer’s website, is now going after merchants who it says paid for false testimony. In three cases filed with the American Arbitration Association, Amazon accused third-party sellers operating on its site of creating or paying for fake…
June 1, 2016 at 11:13 am
Under Armour will lose $120 million in expected sales to The Sports Authority this year as the chain liquidates in bankruptcy, the Baltimore-based brand said Tuesday. The sports apparel maker said in a Securities and Exchange Commission filing it will recognize only $43 million of $163 million in anticipated revenues from the sporting goods chain this…
June 1, 2016 at 11:09 am
Office supplies retailer Staples, which called off a deal to buy smaller rival Office Depot this month, said Chief Executive Ron Sargent will step down after the company’s annual meeting on June 14. The decision comes three weeks after a U.S. federal judge ordered to halt the deal because of antitrust concerns. “With the termination of the…
May 27, 2016 at 10:26 am
Target Corp. said the company’s restroom policy did not hurt its traffic, according to a Wednesday note published by Cowen & Co. that recaps a meeting with Target Chief Financial Officer, Cathy Smith. Target conducted data analysis and, according to the Cowen note, the company doesn't believe that the policy had an impact on traffic. “Target noted…
May 23, 2016 at 10:27 am
New rules around overtime pay will be implemented in one fell swoop across the U.S. come December. But the ripple effects are expected to be far less uniform. Instead, the change is expected to put greater pressure on those retailers with a large number of small stores in low-cost markets, where companies will be required to…
