A report by Business Insider said that Ken Mangone, executive VP product development, design and sourcing for J.C. Penney Co., has abruptly resigned the company.
Sycamore Partners, a private equity firm based in New York, and Limited Brands announced that Sycamore has acquired a controlling 51% interest in Mast Global Fashions, the third-party apparel sourcing division of Limited Brands.
TradeStone Software announced that Family Dollar Stores has gone live with TradeStone's Collaborative Sourcing and Supplier Community Management solutions.
According to a survey released Monday by CareerBuilder and conducted by Harris Interactive, 80% of retail companies report that a bad hire has adversely affected their business in the last year, meaning that hiring the right employees will become a top priority in 2011.
Earlier this year, the world’s largest retailer, Wal-Mart Stores, agreed to turn over purchasing operations for certain apparel lines and other goods to Li & Fung, the world’s largest sourcing agent.