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Sears faces class-action lawsuit by Canadian ‘Hometown’ store dealers
Toronto -- A "Sears Hometown" store owner in Woodstock, Ontario (Canada), has launched a class action lawsuit on behalf of approximately 260 Sears Hometown dealers across Canada against Sears Canada and its American affiliate, Sears. Both are subsidiaries of Sears Holding Corp.
The lawsuit alleges that Sears lowered dealers' commissions, reduced advertising for local stores and bypassed the franchises by selling directly to customers who are located within their markets.
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Report: Jones Group exploring possible sale
New York -- Jones Group Inc. has tapped Citigroup Inc. to explore a possible sale, according to Reuters.
In April, Jones Group said that it would close 170 stores and cut 8% of its workforce after first-quarter profit was less than analysts’ estimates. The news comes just months after activist hedge fund
The company, whose brands include Stuart Weitzman, Jones New York, Easy Spirit, and Nine West, had a market value of about $1.2 billion as of July 5.