Finance & Capital Management

Online luxury consignment retailer The RealReal is taking its resale model into the physical space.    The retailer plans to open its first-ever permanent retail location in November,  in Manhattan's SoHo neighborhood, reported Women's Wear daily. The two-level, 8,000-sq.-ft. store will showcase items from all of The RealReal's categories and also feature contemporary artwork and a wall of Hermès bags, according to the report. It will host classes and discussions.  

Amazon has found a way to further expand its foothold in the grocery industry.   The online giant has submitted a trademark application that will enable it to enter the meal kits business. The move will directly rival meal kit provider Blue Apron, according to CNBC.  

Ross Stores continues to build out its store footprint at an aggressive pace.   The off-price retailer opened 21 Ross Dress for Less stores and seven dd's Discounts locations across 15 different states in June and July. The openings are part of the company's plans to add approximately 70 Ross and 20 dd's locations in 2017.   

Since reports began to swirl around a possible sale of True Value Company -- or at least the consideration of such a move – the Chicago-based co-op’s CEO has downplayed the story as “rumor.”   But that hasn’t stopped rival co-ops from weighing in with their own statements.   

Beleagured Sears Holdings is borrowing yet more money from CEO Eddie Lampert's hedge fund.    Lampert's hedge fund, ESL Investments, has agreed to give the company a new line of credit, valued at $200 million. On July 13, Lampert's ESL Partners entered into a short-term line of credit loans, which carry a maturity date of 151 days and a fixed interest rate of 9.75% per year, Sears said.  

Signet Jewelers, which is battling a gender-discrimination class-action case, has named its first-ever female CEO.   Signet announced that CEO Mark Light has retired due to "health reaons."  He will be succeeded by beauty and health veteran Virginia "Gina" C. Drosos, who has served as an independent director of the company’s  board since 2012, effective August 1, 2017.  

Visa Inc. is doing its best to usher in the cashless future.    The credit card giant has announced a new initiative, called the Visa Cashless Challenge, which will incentivize small merchants to move away from cash payments. Using an application-based format, Visa will award approximately $10,000 each to 50 eligible U.S.-based small business food service owners, including food truck owners.  

The parent company of Famous Footwear is expanding its men's and international operations.    Caleres has tapped Malcolm Robinson as president of the company’s new men’s and international division. He will oversee the strategic growth initiatives for the Caleres men’s brands, as well as expand an international footprint across the company’s portfolio.