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MULTICHANNEL MERCHANT » EXECUTIVE
Less than 7 weeks after Jo.s A. Bank looked to acquire troubled apparel merchant Men’s Wearhouse, Men’s Wearhouse made an offer Tuesday to acquire Jos. A. Bank for $1.2 billion.
Walmart Stores Inc’s board of directors has elected company veteran Doug McMillon to succeed Mike Duke as president and chief executive officer, effective Feb. 1. McMillon was also elected to the company’s board of directors effective immediately.
Williams-Sonoma Inc.’s direct-to-customer revenues for the third quarter were more than $511 million, a 14% increase compared to the same period in 2012. Direct made up 49% of all revenues for the comapny.
While merchants have been putting forth most of their efforts into creating a customer-centric approach in the contact center and the warehouse, the top initiative by executives moving forward is to also create a customer-centric supply chain.
Third-quarter net sales at JCPenney were down 4.8%, but its ecommerce arm continues to shine. Online sales through JCP.com were $266 million for the quarter, up 24.5% versus the same period last year and reflecting sequential increases through the quarter.
Purveyor of All Things Creative has saved on its accounting costs by using TaxJar to streamline its tax management.
China’s largest shopping event, Single’s Day, topped nearly $6 billion in sales in just 24-hours, making it the largest single shopping day event in the world.
Turnaround specialist Roland Smith was named chairman and CEO of Office Depot Inc. on Nov. 12, effective immediately, and replaces Office Depot’s Neil Austrian and OfficeMax’s Ravi Saligram, who were named co-CEOs of the merged company just last week.
Building 19 filed for Chapter 11 bankruptcy protection, and hired Gordon Brothers to liquidate the 10 remaining locations. The irony of New England off-price closeout retailer Building 19′s demise is that it started off in 1964 as a merchant that took advantage of other merchant’s misfortunes and failures.
Vitamin Shoppe has announced its preliminary results for the third quarter which ended on September 28. According to the results, total net sales this quarter increased by 14% and ecommerce sales increased by nearly 18% compared to 2012.
by Niko Lutkins
Posted 2 days ago
by Liat Fuchs
Posted 3 days ago