Corporate Governance

Neiman Marcus names design firm for its first Manhattan location
New York-based Janson Goldstein LLP has been tapped as the design firm for the Neiman Marcus store at Hudson Yards in Manhattan, Women’s Wear Daily reported.

The firm has a wide-ranging practice that includes both residential, hospitality and retail work, with a roster of clients that includes Holt Renfrew, Intermix and Saks Fifth Avenue.
True Value dives deeper into rewards
When Blake Fohl addressed the True Value Company’s retailers at the co-op’s most recent Reunion in Chicago, he let them in on a secret: The True Value Rewards program had gone “in-house.”

J.C. Penney comps up 6.4% amid legal settlement

J.C. Penney says the company's third quarter results will "exceed expectations" despite a $50 million settlement charge to settle a false advertising class action lawsuit.

The company announced Wednesday that it has reached an agreement to settle a false advertising class action lawsuit brought on behalf of California customers who purchased certain J.C. Penney private or exclusive branded products.
Singles Day is singular triumph for Alibaba

Of all the celebrants of China’s annual “Singles Day” Nov. 11 holiday, Alibaba Group Holding Ltd. was probably the happiest.

By midnight Nov. 11 China time (which is ahead of all U.S. time zones), Alibaba estimated it had settled about $14.34 billion in gross merchandise volume (GMV) through its Alipay payment platform on its China and international retail marketplaces.
Kroger to buy Roundy’s in $800 million deal

The Kroger Co. on Wednesday announced plans to acquire Roundy's. Kroger will purchase all outstanding shares of Roundy's for $3.60 per share in cash in a deal valued at $800 million, including the assumption of debt.
JCPenney comps up 6.4% amid legal settlement

JCPenney says the company's third quarter results will "exceed expectations" despite a $50 million settlement charge to settle a false advertising class action lawsuit.

The company announced Wednesday that it has reached an agreement to settle a false advertising class action lawsuit brought on behalf of California customers who purchased certain JCPenney private or exclusive branded products.
Why Macy's is looking for a miracle on 34th street

Macy’s blamed warm weather, weak foot traffic and excessive inventory for the company's worse-than-expected third quarter results and said it is studying real estate options for some of its most iconic stores.
American Apparel still on the slide

American Apparel’s preliminary results for its third quarter are not looking very good.
Happy Singles Day: China is open for business

For merchants looking to sustainably grow their revenue and future-proof their business in an ever-increasing competitive landscape, there is almost no better decision they can make than expanding beyond their domestic market.
Walgreens shares strategies, rationale for Rite Aid buy at Credit Suisse event

Alex Gourlay, Walgreens Boots Alliance's executive VP and Walgreens president, on Tuesday provided a snapshot of Walgreens U.S. market strategy, including how the proposed Rite Aid acquisition folds into that strategy, during the Credit Suisse 2015 Healthcare Conference here.
Report: Albertsons looking to buy stores from Haggen

The Seattle Times is reporting that, according to court documents filed last week, Albertsons is currently bidding on 36 of 95 stores being sold by the now-bankrupt Haggen. Albertsons had previously sold 146 stores to Haggen as part of its acquisition of Safeway. [Seattle Times]
Alibaba makes $5 billion in 90 minutes

The world’s biggest online shopping holiday got off to a roaring start in China.

In the first 90 minutes of the “Singles Day” sale, which kicked off at 12 midnight in Beijing on Nov. 11, total sales exceeded $5 billion, Alibaba reported. About 74% of sales were from mobile phones.

Estimates are that annual shopping extravaganza could reach as high as $11 billion in sales.