Strategy

A red-hot real estate market and sky-high property values have some retailers, including Macy’s and more recently, McDonalds, feeling the pressure to cash in on the value of their real estate assets. How? By spinning off store properties and/or land assets into a REIT and entering into a lease-back deal.

New York -- As Target Corp. continues its transformation under CEO Brian Cornell, news came out that the retailer is not renewing its contract with licensed apparel company Cherokee.

Dependent on Target for 43% of its revenue, Cherokee Global Brand saw its market value obliterated after it disclosed Target would not renew the decades-old relationship.

Washington, D.C. - The National Retail Federation (NRF) is not backing down from its opposition to an expanded definition of “joint employer.”

The NRF is publicly asking Congress to pass legislation introduced this week that would reverse a recent National Labor Relations Board ruling that significantly broadens the definition of a joint employer.

According to the NRF, the move would unfairly make companies that work with franchise locations or subcontractors responsible for actions they do not control.

Grapevine, Texas -- GameStop, which has long been known as an innovative company, has become one of the first major retailers to accept Google's new mobile payment system.

GameStop, which has long been known as an innovative company, has become one of the first major retailers to accept Google's new mobile payment system.

GameStop has announced that customers can start using Android Pay, which was rolled out by Google only on Thursday, immediately to pay for purchases in its more than 4,200 U.S. video game stores. GameStop has already completed a nationwide rollout of Android Pay, which uses the NFC feature on mobile devices to allow users to transform mobile payments with an easy and secure way to pay. 

Dependent on Target for 43% of its revenue, licensed apparel company Cherokee Global Brand saw its market value obliterated after disclosing Target would not renew a decades old relationship.

Hoffman Estates, Ill. --  Michael McCarthy spent 28 years at Sears Holdings before leaving the company in 2011, but now he is back in new senior level role at the Sears Hometown and Outlet Stores.

In 2012, Sears Holding spun off the Hometown and Outlet division, which is now the operator of 1,215 hardware, appliance and outlet stores and a separate publicly held company.

Huntington Beach, Calif. -- Quiksilver Inc. has got the OK on financing and on some store closures.

Quiksilver Inc. has received preliminary approval from bankruptcy court for a $175 million bankruptcy financing package. The surf apparel chain filed for Chapter 11 protection on Sept. 9.