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Report: Jones Group exploring possible sale
New York -- Jones Group Inc. has tapped Citigroup Inc. to explore a possible sale, according to Reuters.
In April, Jones Group said that it would close 170 stores and cut 8% of its workforce after first-quarter profit was less than analysts’ estimates. The news comes just months after activist hedge fund
The company, whose brands include Stuart Weitzman, Jones New York, Easy Spirit, and Nine West, had a market value of about $1.2 billion as of July 5.
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Co-founder of Target dies at 88
New York -- The co-founder of Target, Douglas Dayton, died Saturday after a long battle with cancer. He was 88.
With his four brothers, Dayton took over and reshaped the Dayton Co., which was founded by their grandfather, George Draper Dayton, as Dayton’s department store in Minneapolis.