Corporate Governance

New York – The Jones Group is reportedly approaching deals to sell its business to Sycamore Group and GIII Apparel Group.

Sycamore Group is an Indianapolis-based real estate firm and GIII is a New York-based apparel licensor and manufacturer. Women’s Wear Daily reports sources indicate Jones Group is close to reaching agreements with both companies.

Big Lots has appointed former Kmart executive Andrew Stein as the company's SVP and chief customer officer, as the company focuses more intensely on bolstering its digital footprint.

Austin, Texas – Digital coupon provider RetailMeNot, Inc. has named Gokul Rajaram to its board of directors, effective Oct. 15. Rajaram is currently product engineering lead at Square, where he leads software development for Square Register, a full point-of-sale system for local businesses, and other products.

Westlake Village, Calif. – Guitar Center is opening a Serato-branded digital music area in its Brooklyn, N.Y., store on Oct. 24. The 2,500-sq.-ft. area provides a space for DJs and producers to demo and buy Serato products.

Englewood, Col. -- Sports Authority has debuted a new format at its first-ever store in Puerto Rico. The store, in Ponce, opened on Oct.19.

The 35,000-sq.-ft. location features an “intuitive” that makes it easier than ever for customers to find exactly what they need, the retailer said. With specialty sport shops and a spacious new layout, the store was designed specifically to enhance the shopping experience.

Pittsburgh – Dick’s Sporting Goods is opening a new store in Osage Beach, Mo., on Nov. 1. The Osage beach location will be the retailer's 12th store in the state of Missouri and its 551st nationwide.

“We look forward to opening our new Dick's Sporting Goods in Osage Beach, becoming part of the community and serving athletes of all ages by providing them the equipment they need to excel," said Lauren Hobart, senior VP & chief marketing officer, Dick’s Sporting Goods.

Sequential Brands Group has entered into five new license agreements to expand the Caribbean Joe brand and has extended the terms of its agreements with three current partners. With five new partnerships, this brings the total list of Caribbean Joe licensees to 25.
 

Dhaka, Bangladesh – Owners of garment factories in Bangladesh are reportedly prepared to raise the minimum wage they pay workers from 50%-80% and ask retailers to pay at least some of the extra cost.

According to Reuters, factory owners have offered a minimum wage of about $46 per month. Workers have requested a minimum wage of about $102 per month, and the government is expected to order an increase in a middle range of $54-$66 per month. Current minimum wage is about $39 a month.