Kohl’s has decided to end sales talks with Franchise Group. The retailer’s board determined that it could not get a fair price for the company based on current market conditions. It was reported that Franchise Group had sought to lower its initial bid to acquire Kohl’s.
Depop is moving into the virtual resale world with a new deal that will see it sell virtual second-hand clothing to players in The Sims game. Players can purchase clothing with in-game currency.
Lauren Crosse has been named senior vice president of finance and chief accounting officer. She replaced John Barresi who resigned earlier this month. Bed Bath & Beyond also named Susie A. Kim, senior vice president of treasury and investor relations.
Prada SpA is looking to reduce its carbon footprint and raise its scores across other ESG benchmarks. The luxury fashion brand has named its current head of corporate social responsibility, Lorenzo Bertelli, to take over as its next CEO.
H-E-B is adding 325,000 square feet of space to its frozen foods distribution center in Temple, TX. The grocery giant needs to expand as it opens more stores in the Dallas/Forth Work area. H-E-B expects the expansion to be completed by 2024.
Weimar Corporation, which owns Plato’s Closet, Play It Again Sports, Music Go Round, Once Upon A Child and Style Encore, is quietly building a giant business in the resale market. The company franchises its banners and takes a four to five percent cut of sales.
It’s been less than a week since the U.S. Supreme Court overturned Roe v. Wade. Some states looking to allow abortions may seek to prevent companies from offering employees the financial means to travel out-of-state to obtain the medical help they need.
Macmillan said it was hit by a cyberattack that “involves the encryption of certain files” on its network. The publisher made the decision to take its systems offline to avoid being further compromised. The result is that the company is temporarily unable to ship books to its trading partners. James Daunt, Barnes & Noble CEO, said, “I don’t think there will be lost sales unless something cataclysmic has happened.”
Amazon.com has launched Store Analytics, a new in-store measurement service to provide consumer packaged goods companies with insights about the performance of their products, sales promotions and ad campaigns in the retailer’s convenience stores and supermarkets.
There was a shortage of fireworks in 2020 and 2021. Supply shortages are no longer a problem, but consumers will be shelling out way more to get less this Independence Day. “I would say from 2019 till ‘22, items’ [costs] have at least doubled,” said Bruce Zoldan, president and CEO of Phantom Fireworks.