Strategy

RCS Real Estate Advisors will receive a Turnaround Award from M&A Advisor later this month for its work in the reorganization of Pacific Sunwear.  

Companies that suffer a data breach are subject to customer, opportunity and revenue losses well exceeding 20%.   This was according to the “2017 Annual Cybersecurity Report (ACR),” from Cisco, which surveyed nearly 3,000 chief security officers (CSOs) and security operations leaders from 13 countries in the “Security Capabilities Benchmark Study,” part of the ACR.  

The formerly high-flying Nasty Gal has been brought down to earth — and not in a good way.   The bankrupt fashion retailer will close its two Los Angeles-area stores by the end of February, the Wall Street Journal reported.    On Feb. 8, U.S. Bankruptcy Court for the Central District of California approved the sale of Nasty Gal’s intellectual property and customer database to British online fashion retailer Boohoo.com, which is seeking to speed up its expansion in the United States. 

Walgreens Boots Alliance is losing its chief merchandising and marketing officer.   Linda Filler, Walgreens' president of retail products and chief merchandising and marketing officer, will depart the retailer effective April 1. Filler has been in the role since January 1, 2015. Prior to joining the drug store chain, she was president of Claire’s Stores. Before Claire’s, Filler served as was executive VP and chief merchandising officer for Sam’s Club,   

Online marketplace retailer Etsy.com is looking to expand its base of sellers by entering the estimated $40 to $44 billion craft supplies market, which is dominated by such retailers as Michael’s and Jo-Ann’s Stores.    In its largest expansion to date, Etsy announced it will launch Etsy Studio, which will sell craft supplies and offer DIY tutorials, in April. It is the first new marketplace Etsy has built from the ground up since it debuted in 2011.     

As data breaches become more complex, they leave a lingering, if not lasting imprint on an enterprise.   While there are many factors that play a significant role in data breaches and cybersecurity incidents, the human element remains the top source contributing to cybercrimes, according to the “2017 Data Breach Digest,” from Verizon.  

BJ’s Wholesale Club could see a change in ownership.   The company’s private equity owners, Leonard Green & Partners and CVS Capital Partners Ltd., are hiring investment bankers to advise them on options, reported the Wall Street Journal.   The two buyout firms acquired BJ’s in 2011 for approximately $3 billion. The retailer, which is based in Westborough, Massachusetts, operates 213 stores and 130 BJ's Gas locations 15 states.    

Columbia Sportswear’s prAna brand has become the industry’s latest cyber-breach victims.   When the lifestyle brand’s e-commerce site was targeted last week, the incident lead Columbia to “immediately launch an investigation and engage a leading third-party cyber security firm to assist us,” Columbia’s CEO Timothy Boyle said on the company’s Q4 2016 earnings call on Feb. 9. “Protecting our customers' information is one of our top priorities and we are taking this very seriously.”