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Target’s Innovation Chief to Leave
April 21, 2017 at 11:32 am

Casey Carl, the executive charged with spearheading innovation at Target Corp., is leaving the company as CEO Brian Cornell refocuses efforts on the core business and tries to find quick ways to revitalize stores amid falling sales. Carl has pushed Target to think about the direction of retail beyond the next few years, but the retailer…

FTC May Sue to Block Walgreens-Rite Aid Deal
April 20, 2017 at 12:35 pm

The Walgreens-Rite Aid merger is increasingly looking like it may be blocked by the Federal Trade Commission. Capitol Forum, a trade publication, reported that the FTC was considering a lawsuit. Bloomberg reports the time line to complete the deal has been extended until July 31, as antitrust regulators review it. Walgreens CEO Stefano Pessina said in an April 5…

PetSmart Buys Chewy.com in Largest E-Commerce Acquisition Ever
April 19, 2017 at 9:14 am

In the biggest e-commerce acquisition in history, PetSmart has agreed to purchase pet food and product site Chewy.com for $3.35 billion. Chewy.com has been one of the fastest-growing e-commerce sites, registering nearly $900 million in revenue last year — only its fifth in operation. This deal is bigger than Wal-Mart’s acquisition of Jet.com for $3.3…

Reports: Amazon Interested in Buying BJ’s Wholesale Club
April 18, 2017 at 10:38 am

Amazon.com is interested in buying BJ’s Wholesale Club, which is currently up for sale, according to the New York Post. BJ’s, which operates 210 club stores in 15 states along the eastern seaboard from Maine to Florida, is already interviewing bankers so it can be begin a sale process. Meanwhile, Amazon — which has been…

rue21 Closing 400 Stores
April 18, 2017 at 10:23 am

Teen apparel retailer rue21 announced last week that it's closing 400 of its 1,200 stores around the country. On Saturday afternoon, the company posted a note on its Facebook page confirming that it’s trimming its brick-and-mortar locations. “It’s true — we are closing some stores,” the post said. “It was a difficult but necessary decision. But…

Wal-Mart in Advanced Talks to Acquire Bonobos
April 17, 2017 at 10:48 am

Wal-Mart’s acquisition streak under new e-commerce chief Marc Lore looks likely to continue. The world’s largest brick-and-mortar retailer is in advanced discussions to acquire Bonobos, a 10-year-old men’s fashion retailer based in New York City. Sources say the two sides have agreed on a price — which couldn’t immediately be learned — and that the deal…

Crate and Barrel CEO Out After Less Than 2 Years
April 17, 2017 at 10:19 am

Crate and Barrel's CEO, Doug Diemoz, who is being sued by his former employer, Restoration Hardware, for stealing trade secrets and breaching contracts, is out after less than two years at the Northbrook, Ill.-based retailer. The company confirmed Friday that Doug Diemoz, who was recruited from Restoration Hardware to head Crate & Barrel in 2015, left last…

Macy's Execs Get Raises Despite Poor Sales Year
April 17, 2017 at 9:46 am

A poor sales year didn't stop Macy's executives from getting a pay bump. The department store chain's new CEO Jeff Gennette earned total compensation of $3.9 million in 2016, which accounts for a raise of 5.5 percent from his 2015 compensation of $3.7 million, according to Macy's 2017 proxy statement. Former Macy's CEO and now executive chairman…

Academy Sports + Outdoors Names Sam Johnson Executive Vice President, Retail Operations
April 12, 2017 at 1:01 pm

Academy Sports + Outdoors, a sports, outdoor and lifestyle retailer, named Sam Johnson as its executive vice president of retail operations, effective April 24. Johnson joins Academy after seven years with HHGregg, where he most recently served as chief retail officer. At HHGregg, he led store operations, customer relations, commercial sales, real estate and visual merchandising. Prior…

Estée Lauder's North American Group President to Retire
April 12, 2017 at 12:51 pm

The Estée Lauder Cos. Inc. announced this week that Thia Breen, group president of North America, is retiring after 40 years with the company. Breen will be succeeded by Chris Good, Estee Lauder's president of U.K. and Ireland, while Philippe Warnery, current general manager for Canada, will be named senior vice president and general manager for…

Bartell Drugs CEO Steps Down
April 12, 2017 at 12:43 pm

After two years on the job, Bartell Drugs CEO Brian Unmacht has stepped down. Company spokesperson Ric Brewer characterized the parting of ways as a mutual decision, and said Unmacht had “left us on a good course for the future.” “He had some professional and personal things he wanted to take on,” Brewer said. “He…

Kohl's Names Former Best Buy Exec its New CMO
April 12, 2017 at 12:32 pm

Kohl’s announced this week that Greg Revelle has been named the company’s chief marketing officer. Revelle will be responsible for Kohl’s marketing organization and overall marketing strategy, including the company’s focus on driving customer engagement through analytics, enhancing the loyalty platform, accelerating customer traffic and continuing to build Kohl’s overall brand position. Prior to joining…

Wal-Mart Cutting Hundreds of Corporate Jobs
April 12, 2017 at 10:14 am

Wal-Mart is cutting hundreds of corporate jobs this month in an effort to cut costs as it spends billions to improve its e-commerce operations. The cuts fell broadly over the past few days on the international side of Wal-Mart’s business, as well as its technology group and at its warehouse chain Sam’s Club, according to…

Supervalu to Buy Unified Grocers in $375M Deal
April 12, 2017 at 10:10 am

Supervalu Inc. has agreed to pay $375 million to acquire Unified Grocers, a Los Angeles-area food distributor. The deal intensifies Supervalu’s focus on its wholesale business. Supervalu said it will pay $114 million in cash for all outstanding shares of Unified, a cooperative owned by member grocery firms, and assume about $261 million in debt. The…

Gymboree Preparing to File for Bankruptcy
April 12, 2017 at 10:03 am

Gymboree Corp. is said to be preparing to file for bankruptcy as it faces an upcoming interest payment on its debt on June 1. Bloomberg reports that the Bain Capital-controlled company is seeking to reorganize its debt load and may transfer control to its lenders, including Searchlight Capital, Brigade Capital Management and Oppenheimer Holdings. The children’s…

HHGregg Closing All Stores, Liquidating Inventory
April 11, 2017 at 10:44 am

HHGregg has begun liquidating its assets after failing to find a buyer by its deadline last Friday. The company expects to close all of its 220 stores by the end of May, resulting in about 5,000 layoffs across the U.S. HHGregg CEO Bob Riesbeck in a statement said the company has "continued to fight for the…

Amazon to Create 30,000 New, Part-Time Jobs Over the Next Year
April 10, 2017 at 12:06 pm

Amazon.com said last week it would create 30,000 part-time positions in the U.S. over the next year, nearly doubling its total number of part-time positions as its customer base and sprawling warehouse network expand. More specifically, Amazon will create 5,000 new part-time roles in its Virtual Customer Service program, which enables employees to work from home…

Samsonite to Acquire eBags
April 10, 2017 at 11:36 am

eBags has agreed to be acquired by Samsonite International, the travel luggage maker that once employed most of eBags’ co-founders. Samsonite, which started in Denver and is now based in Hong Kong and Luxembourg, said it would pay $105 million for the Denver-based e-tailer of purses, suitcases and nearly any bag imaginable. The deal is…

Rue21 Rumored to Be Filing for Bankruptcy
April 7, 2017 at 12:32 pm

Teen clothing retailer Rue21 is preparing to file for bankruptcy. Bloomberg reports a filing could happen as early as this month. Previously, the retailer was purchased for $1 billion in 2013 by private equity firm Apax Partners. Rue21 currently operates over 1,000 stores. “Rue21 has been working to improve its operations and enhance its liquidity…

Nordstrom Brothers’ Compensation Doubled as Company Struggled
April 7, 2017 at 11:40 am

While Nordstrom dealt with declining sales and staff layoffs in 2016, the company's co-presidents and brothers — Erik, Peter and Blake Nordstrom — enjoyed hefty raises. The Seattle Times reports the three co-presidents saw their compensation more than double last year, each earning more than $5.8 million in 2016. Total Retail’s Take: It's hard to justify…