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MULTICHANNEL MERCHANT » PRESS RELEASES
Men’s Wearhouse and Jos. A. Bank announced that the merchants have entered into a definitive agreement in which Men’s Wearhouse will acquire all of the outstanding shares of common stock of Jos. A. Bank for $1.8 billion. Together, Men’s Wearhouse and Jos. A. Bank will have more than 1,700 stores in the U.S., with approximately 23,000 employees and sales of $3.5 billion on a pro forma basis.
Target has announced that Beth Jacob, chief information officer, is resigning from her position as part of an “overhaul” of the retailer’s information security and compliance structure. Jacob’s resignation is effective March 5.
RadioShack announced this week that it plans to close 1,100 under performing stores as well as huge losses in its fourth quarter earnings. According to its Q4 financials, the electronics retailer reported that net sales and operating revenues for the quarter decreased to $935.4 million from $1.17 billion in the same quarter last year
Men’s Wearhouse has confirmed that it entered into a non-disclosure agreement with Jos. A. Bank and agreed to exchange certain confidential information and to work in good faith to evaluate a potential combination. It was also announced that Men’s Wearhouse has received a draft merger agreement from Jos. A. Bank.
First Move Beyond North America Will Bring Joe Fresh Fashions to the Middle East, North Africa, Europe and South Korea
Newgistics has announced a partnership with ShipStation, a web-based shipping solution for online merchants.
The Office of the Inspector General has announced that the United States Postal Service will end its same-day delivery pilot program, Metro Post, throughout the San Francisco area due to insufficient participation.
The Home Depot has opened the first of three new same-day shipping focused direct fulfillment centers in the U.S., adding more than three million square feet to its supply chain.
Ecommerce retailer Pearson Enterprise LLC today announced the opening of its new online store at www.WeightFitnessPro.com.
While the U.S. Postal Service ended the first quarter of 2014 with a net loss of $354 million, its shipping business increased by 14%. This growth, UPS said, was fueled by an increase in online shopping and Sunday deliveries in limited U.S. markets.
by Curt Barry
Posted 19 hours ago
by Tommy Kelly
Posted 1 day ago