MULTICHANNEL MERCHANT » EXECUTIVE
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 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.
With the new year and new budget assessments upon us, this is a critical time for merchants to assess and reevaluate their strengths and opportunities. Marketers may experience many stages of resolutions, but to truly reap the benefits of 2014, all the following outlined should be realized.
In a continuing game of back-and-forth, Jos. A. Bank has rejected the acquisition proposal from Men’s Wearhouse, citing the billion dollar proposal was “significantly undervalued.”
SLI Systems announced that Tim Callan has been named Chief Marketing Officer.
FedEx released its second quarter financials on Dec. 18, which showed a net income of $500 million, up 14% from last year’s $438 million.
Hudson’s Bay Company announced that Donald Watros, who is currently the company’s chief operating officer, has been named president of HBC effective Feb. 1, according to a press release by HBC.
With the addition of three new distribution centers in California, Atlanta, and Ohio, Home Depot announced plans on Dec. 11 to develop same-day shipping capabilities.
Lululemon Athletica Inc., a yoga-inspired athletic apparel merchant, announced that founder Chip Wilson is resigning from his position as chairman of the Board of Directors, according to a press release. He plans to step down prior to the company’s annual meeting in June 2014.
Walmart announced today that David Cheesewright will become the president and CEO of Walmart International. At his previous post with the retailer, Cheesewright was the president and CEO of Walmart’s Europe, Middle East, Africa and Canada. Cheesewright will assume his new role on Feb. 1, 2014.