Tiffany & Co Names New CEO
Tiffany & Co. announced that its Board of Directors has unanimously named Alessandro Bogliolo the company’s next Chief Executive Officer. See what executives from the company had to say about this new appointment.
News
JC Penney Getting Back Into the Toy Business
Looking for another avenue to boost flat store sales, JC Penney is opening 500-square-foot toy shops in all of its brick-and-mortar locations, the company announced, pitting it against the likes of Toys R Us and Amazon as well as discount retailers like Walmart and Target in the $20 billion market.
Gymboree to Close 350 Stores
The Gymboree Corporation announced that, following a comprehensive evaluation of its retail footprint as part of its previously announced court-supervised financial restructuring, the company intends to close approximately 350 stores.
PowerReviews Bolsters Analytics Capabilities with Senior Hire
Company Adds Arend Henderson to Role of Senior Vice President of Analytics CHICAGO – July 11, 2017 – PowerReviews, a leading provider of ratings, reviews and question and answer technology … Continue Reading →
L’Oreal Announces New Augmented Reality Beauty App
L’Oréal and Perfect Corp announced a global partnership that will integrate makeup collections from L’Oréal brands worldwide in YouCam Makeup, an augmented reality beauty app.
Office Depot Announces Updated Loyalty Program
Office Depot announced an updated loyalty program that will save customers with expanded benefits. Here is what the loyalty program will offer to customers.
Vantiv Acquires Rival Worldpay for $9.94 Billion
In yet another mega merger in the retail sector, U.S.-based credit card processing firm Vantiv is acquiring UK-based payments technology firm Worldpay in a deal worth $9.94 billion, after J.P. Morgan withdrew its interest in Worldpay. The move give Vantiv greater access to the lucrative European ecommerce and digital payments market.
Nike Confirms Pilot Sales Program on Amazon
Nike confirmed it is selling select products directly through Amazon in a pilot program, greatly expanding its reach while also helping address counterfeiting. The news is a direct hit to retail partners like Finish Line and Foot Locker, who will undoubtedly lose sales. Nike will also start selling directly through a partnership with Instagram.
True Religion Inc. Files for Chapter 11 Bankruptcy
True Religion Inc. has filed for Chapter 11 bankruptcy in an effort to slash its debt of about $500 million, with plans to emerge from the process as soon as possible. See what contributed to the decision to file and what plans the company has going forward.
With Prime Day Set, Amazon Expected to be Winner Once Again
Amazon has announced that Prime Day 2018 will be held on July 11, with Amazon itself expected to once again be the big winner by selling its own devices and gift cards and bulking up Prime memberships.