Private equity firm Madison Dearborn Partners has purchased Things Remembered from Bruckmann, Rosser, Sherrill & Co. (BRS) and GB Merchant Partners for $295 million. “GBMP and BRS were excellent partners, providing valuable strategic guidance and capital support throughout the investment period,” said Michael Anthony, CEO of Things Remembered, Highland Heights, Ohio, which operates 640 stores in the United States and Canada. “We now look forward to working with Madison Dearborn and benefitting from its expertise, as we remain focused on supporting our customers with the highest service and quality.”
American Apparel has announced the opening of two new shop-in-shop locations inside two Myer department stores in Sydney and Melbourne, Australia. "We're excited to be serving more customers in Sydney and Melbourne face to face via the largest department store in Australia. With these openings, American Apparel is nearly doubling its store base in the country and doing it efficiently with a great and respected partner," said Marsha Brady, a creative director for American Apparel.
The average person will spend $117.14 on dad’s gifts this year, up 10% from $106.49 last year, closing the gap between its biggest competitor: Mother’s Day (consumers planned to spend an average of $152 on the holiday), according to the National Retail Federation’s 2012 Father’s Day spending survey, conducted by BIGinsight. Total spending for Father’s Day is expected to reach $12.7 billion. According to the survey, more people this year will treat dad to a special outing, such as golfing, eating out or heading to a sporting event ($2.3 billion versus $2.0 billion in 2011).
Loft, a division of Ann Inc. — formerly known as Ann Taylor — will open its first Canadian location at Yorkdale Shopping Centre in Toronto, Ontario, in late 2012. "Canada represents a natural step as we move to expand internationally, and we are excited to open our first store outside the U.S. in such a vibrant city like Toronto," said Gary Muto, brand president.
Growing in severity, number and type, retailers are reporting organized retail crime (ORC) has become more troublesome than ever before. Of the 125 retail companies surveyed for NRF’s eighth annual Organized Retail Crime Survey, a record-setting (96.0%) say their company has been the victim of organized retail crime in the past year, up from 94.5 percent last year, and another 87.7 percent say ORC activity in the United States has grown over the past three years.
J.C. Penney has asked a New York federal court to dismiss a lawsuit filed by the visual merchandising firm Hudson + Broad over the Plex
Walmart.com's march to catch Amazon.com in e-commerce and integrate online and offline offerings is entering some new fronts and generating sometimes surprising results as the company prepares to launch the latest in a spate of new initiatives — Goodies, a subscription mail order sampling program.
Retail Online Integration presents its second annual ranking of the fastest-growing cross-channel retailers based on year-over-year sales. Find out if your company — or one of its competitors — made the list.
Dick’s Sporting Goods said Thursday that it will debut a specialty running store, True Runner, with the first location opening in the retailer’s home city of Pittsburgh. The high-service concept will cater to running enthusiasts with footwear, apparel and accessories, and is slated to open in summer 2012. "In our continued efforts to explore new ways to serve athletes and build upon Dick's Sporting Goods already deep commitment to the sport in Pittsburgh, we believe that True Runner will provide a top-of-the-line experience to those who enjoy the sport," said Joe Schmidt, president and COO, Dick's Sporting Goods.
