Corporate Governance

Gymboree emerges from bankruptcy
Gymboree has emerged from bankruptcy with a reduced footprint — and with new owners. The children's apparel retailer announced Friday that it has successfully completed its financial restructuring and emerged from Chapter 11 as a new corporation under the name Gymboree Group. The company exited bankruptcy with a reorganization plan that includes a comprehensive recapitalization that will eliminate more than $900 billion in debt and a reduced store footprint.
Amazon’s new acquisition becomes data breach target
Cyber-thieves have found their way into Whole Foods Markets’ payment network. The natural foods grocer, which Amazon purchased for $13.7 billion in August, learned that payment card information processed at certain venues within some of its stores, such as taprooms and full table-service restaurants, has been breached. These venues use a different point-of-sale system than the company’s primary checkout systems.

Refinanced Boulder center opens with 90% occupancy

NewMark Merrill Mountain States this week issued a double-barreled press release: It closed on a $62 million refinancing of the Village at the Peaks and opened the Boulder-area center at close to 90% capacity. The $100 million, 442,000-sq.-ft. had been under development for five years in a public/private partnership between NewMark Merrill and the city of Longmont. New financing was provided by Allianz Real Estate of America.
Walmart in ‘brand’ new move against Amazon

Walmart is about to debut a new initiative to bolster its defenses against its biggest rival. The discounter's Jet.com site is launching a higher-end private-label brand of household and grocery essentials. The new brand, called Uniquely J, will launch in the coming months with a curated selection of products that include such essentials as coffee, olive oil, laundry detergent, paper towels, and more. Additional items will be added.
Home furnishings giant enters ‘gig economy’ with acquisition

Ikea Group has entered the booming market for on-demand services. The home furnishings giant is acquiring TaskRabbit, an on-demand services platform company that connects customers with workers, called "taskers," that handle everyday needs such as furniture assembly, moving and packing, general handyman repairs, and home improvements. The price of the transaction was not revealed.
Congress Needs To Catch Up To Modern Retailing

Much of the retail world has closely watched recent events unfold in South Dakota over online sales taxes and nexus issues. South Dakota is leading the opposition against an arcane legal precedent that limits which retailers can be compelled by states to remit sales taxes for purchases consumers make online.
Toys ‘R’ Us in ‘play’ mode

The nation's largest toy retailer wants everyone to take some time out to play. Toys "R" Us announced that, this fall, it is launching "play labs" at 42 stores where kids (and parents) can play with some of the season's hottest toys. The retailer said that adults can use the lab to test the items on kids' holiday lists to check for age appropriateness before they make a purchase.
Supermarket retailer to test curbside pickup

Publix Super Markets is ramping up its grocery delivery services. Beginning Sept. 28, the supermarket chain will begin testing curbside grocery pickup at a store in Wesley Chapel, Florida, and another in Valrico, Florida. In addition, Publix's Metro-Atlanta stores will begin testing the service by the end of this year.
Unlikely partners collaborate on exclusive clothing line

What happens when a fast-fashion giant crosses a leading fast-food company? For two companies, it spurred a new fashion collection. Forever 21 and Taco Bell are teaming up to launch an apparel line called The Forever 21 x Taco Bell collection. The line features tops, bodysuits and cropped hoodies for women; a sweatshirt, hoodie and anorak jacket for men, and graphic tees, a pullover and hoodie for girls. All merchandise features each brand’s iconic graphics highlighted by a mix of vibrant prints and colors.
Discount giant steps up hurricane relief efforts — again

Walmart is allocating more funds to hurricane relief. The discount giant announced that it will donate another $5 million in support of Hurricane Maria relief. This is in addition to its previous commitment of $35 million in response to Hurricanes Harvey and Irma.
Report: Restaurant chain is latest data breach victim

Sonic has been targeted in a cyber-attack. The restaurant chain, which is known for drive-up ordering kiosks and roller skating waitresses, has confirmed it has suffered a data security breach. Specifically, the incident has jeopardized the security of credit cards from up to 5 million customers, according to KrebsOnSecurity, which first broke the news.
Art Van rounds out Illinois Power Center

Art Van Furniture will take over a 34,000-sq.-ft. space vacated by H.H. Gregg at Gurnee Town Center in Illinois, according to owner Retail Properties of America, Inc. The electronics chain filed for Chapter 11 bankruptcy protection earlier this year. Art Van will bring the center to 98% occupied, according to RPAI, joining DSW, Old Navy, Starbucks, Ross Dress for Less, Five Below, and Bath & Body Works at the center west of Waukegan.