Retail

Morrisville, N.C. - Charles & Colvard Ltd. has closed a new three-year $10 million asset-backed credit facility with Wells Fargo Bank. The company’s previous credit facility with PNC Bank was terminated.

The new credit facility provides Charles & Colvard working capital for general corporate purposes and to pursue continued growth opportunities and is secured by Charles & Colvard assets. The company currently does not have any other long-term debt and the new credit facility is undrawn.

San Francisco – The Levi’s brand is launching a new omnichannel global brand campaign, "Live in Levi's," developed out of a creative collaboration with FCB (Foote, Cone & Belding) and The House Worldwide.

Pittsburgh - American Eagle Outfitters Inc. is entering the U.K. with the opening of three new company-owned stores. The stores will be located in the Bluewater mall in Kent, England, as well as the Westfield Group’s London and Stratford City shopping centers in London, England.

The stores opening in the Westfield centers will include an aerie presence in shop-in-shop form. All of the stores are expected to open during fall 2014.

New York -- Retail chain Hobby Lobby was triumphant In a 5-4 ruling by the Supreme Court on Monday in which the court ruled that the federal government cannot force privately held corporations to provide forms of contraceptive coverage that violate the religious beliefs of their owners. The ruling means that private companies can opt out of the Affordable Health Care Act’s contraception mandate.

The Arts and Crafts retailer went to the mat over its religious convictions, and on Monday the U.S. Supreme Court sided with the privately held company in a rebuke of the Patient Protection and Affordable Care Act of 2010.
 
Hobby Lobby co-founder Barbara Green said her family was overjoyed by the Supreme Court’s decision.
 

New York -- TPG Architecture has promoted Nicole Varadi from senior designer to design director, retail studio.

Varadi, who joined TPG in 2011, will now take on a greater degree of leadership within the retail studio while continuing to work actively on projects. Recently, she helped lead the design of The Red Door, the award winning day spa and beauty boutique in Union Square. She is currently working with brands such as Sundance and Rent the Runway, and is playing an active role in acquiring new business for the firm.

The Walmart Foundation has kicked off a summer-long initiative to help children and families gain access to nutritious meals and learn healthy-eating habits. Walmart is also collaborating with Chef Lorena Garcia, chef and author with TV appearances on Bravo’s “Top Chef Masters” and NBC’s “Biggest Loser,” to launch the Eat Healthy Together Challenge on Twitter.

Grand Rapids, Mich. -- Meijer on Monday broke ground on a supercenter in Detroit, on the site of a former high school on the city’s west side. The groundbreaking ceremony comes less than a year after Meijer opened a supercenter at the historical Michigan State Fairgrounds in the Motor City.