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J. Crew to launch new store concept
New York -- J.Crew Group, a company struggling to regain its mojo, is jumping into the value category.
The company announced it will launch a new store banner, J.Crew Mercantile, selling lower-priced (“value-driven”) merchandise with classic J. Crew styles for women, men and children. The first J.Crew Mercantile store will open in late July, at The Shops at Park Lane in Dallas. The retailer plans to open more Mercantile stores in strip centers and some malls, Bloomberg reported.
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Michaels stockholders to sell 12.5 million shares
Irving, Texas – Some stockholders of The Michaels Companies Inc. intend sell 12.5 million shares of Michaels common stock. The selling Stockholders will receive all of the net proceeds from this offering.
No shares are being sold by the company. Goldman, Sachs & Co. will act as underwriter for the offering.

