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Executive ARCHIVE

Jos. A. Bank Rejects Latest Men’s Wearhouse Offer  Jan 17, 2014 9:45 PM By Tim Parry

The Men’s Wearhouse today issued the following statement in response to the announcement by Jos. A. Bank Clothiers, Inc. that its Board of Directors has rejected Men’s Wearhouse’s all-cash $57.50 per share offer.

Best Buy Blames Price Competitiveness in Holiday Sales Decline  Jan 16, 2014 4:26 PM By Erin Lynch

The competition in price played a major role in the declining 2013 holiday sales results at Best Buy, according to a statement released by the electronics retailer. In the nine week holiday period that ended on Jan. 4, Best Buy reported $11.45 million in revenue, down slightly from the 2012 holiday season of $11.75 million.

J.C. Penney Closing 33 Stores, Laying Off 2,000  Jan 15, 2014 5:17 PM By Erin Lynch

J.C. Penney has announced that it will close 33 under performing stores across the country and laying off 2,000 employees in an effort to save $65 million.

Overstock.com Sees $130,000 in Sales with Bitcoin Payment Option  Jan 15, 2014 2:43 PM By Erin Lynch

Overstock.com CEO Patrick M. Byrne took to Twitter to announce that within 24-hours of implementing Bitcoin as a possible payment option, his company received $130,000 in orders paid in the crypto-currency.

PM Digital Expands Digital Leadership Team  Jan 14, 2014 12:24 PM By MCM Staff

PM Digital has announced the addition of Valeria Maltoni as Vice President, Digital Strategy.

Larry Freed Steps Down as CEO of ForeSee  Jan 13, 2014 12:17 PM By Daniela Forte

ForeSee announced that its president and CEO, Larry Freed has decided to step down from his position, according to a ForeSee blog post.

Alibaba Bans Bitcoin on all Marketplace Sites  Jan 13, 2014 10:55 AM By Erin Lynch

While Overstock.com announced last week that it has begun accepting Bitcoins as an online payment option, not all merchants are embracing the crypto-currency. The Chinese ecommerce platform Alibaba Group said in a statement that it has banned the controversial payment option from all its Taobao marketplaces.

Barnes & Noble Reports 6.6% Decrease in Holiday Sales  Jan 09, 2014 11:47 AM By Erin Lynch

The Barnes & Noble retail segment, which includes traditional brick-and-mortar stores and BN.com, released its 2013 holiday sales results which show a 6.6% decline compared to last year.

2,500 Layoffs, Store Closings Announced at Macy’s  Jan 08, 2014 5:23 PM By Erin Lynch

In an effort to save nearly $100 million annually, Macy’s has laid out a cost reduction plan which includes laying off 2,500 workers and the closing of a handful of its brick-and-mortar stores.

Rotunda Capital Acquires Majority Stake in Discount Ramps  Jan 08, 2014 4:43 PM By Tim Parry

Rotunda Capital Partners has acquired a majority stake in Discount Ramps, LLC from the online retailer of transportation and hauling products’ founder Joel Lederhause. The financial terms of the deal, which closed Dec. 20, were not disclosed.






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