Corporate Governance

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.    

With department stores being replaced by gyms and office space, retail tenants who signed on for the traffic generated by traditional anchors are of the opinion that the co-tenancy clauses in their leases need restructuring. At a forum staged by Jones Lang LaSalle at its New York office yesterday, two noted mall developers agreed.  

Private-label introductions are increasing on a seemingly daily basis, but Amazon-owned products are transforming the marketplace.   This was according to “AmazonBasics Spearheads Amazon Private Brands,” research from One Click Retail.   

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.  

Rite Aid Corp. appointed a Walgreens veteran to its executive team.   Rite Aid on Thursday named Kermit Crawford as president and COO, effective Oct. 5. Crawford enjoyed a long, 30-year career with Walgreens, most recently as executive VP and president of pharmacy health and wellness. Most recently, he served as a retail and healthcare adviser and consultant for Sycamore Partners, a New York City-based private equity firm.   

Unfazed by store closures, shoppers plan to get most of their holiday shopping done in-store this year.    Nearly three-quarters of consumers (71%) plan to do the majority of their holiday shopping in physical stores — the same percentage from a similar poll a year ago. Additionally, the vast majority (88%) plan to at least visit stores this holiday season.  

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.  

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.