Direct To Consumer (DTC)

Leadership changes continue at struggling specialty retailer Wet Seal. Just one month after appointing Edmond Thomas as CEO, following John D. Goodman’s departure, CFO Steve Benrubi has resigned. He will remain with the company through December 1 to assist with the transition.

The company said it plans to search for a new CFO, but offered no further details.

New York - RKF has arranged two leases totaling 2,680-sq.-ft. at 1200 Madison Ave. on the Upper East Side of Manhattan with beauty retailer Bluemercury and upscale Scotland-based knitwear company Brora. The new Bluemercury, scheduled to the week of Oct. 6, will occupy 1,705-sq.-ft. and will be the brand’s second location on the Upper East Side.

Spending on consumer electronics this holiday season is projected to reach a record level of nearly $34 billion as shoppers clamor for ultra high definition televisions, smart watches, tablets and a new crop of smartphones.

The Consumer Electronics Association (CEA) predicts the 2014 holiday season will see the highest levels of consumer spending on consumer electronics since the group began tracking the category two decades ago. The trade group’s holiday outlook envisions total tech spending increasing 2.5% to $33.76 billion.

Boston – Online home furnishings retailer Wayfair Inc. launches its initial public offering (IPO) today. The online home furnishings retailer is offering 11 million shares of common stock at $29 per share, which is above Wall Street projections.

The share offering includes 10.5 million shares of Wayfair stock and 500,000 shares from selling stockholders. Wayfair will not receive any proceeds from the selling stockholder shares, meaning the company should raise about $304.5 million in the IPO.

Minneapolis -- Christopher & Banks announced the Oct. 6 grand opening of 37 stores that reflect the company’s updated retail strategy of bringing its plus-sized CJ Banks brand under the Christopher & Banks banner. The stores combine missy, petite and women's sizes in one shopping location.  

As part of its agenda to boost liquidity ahead of the highly contested holiday shopping season, Sears Holdings plans to sell most of its 51% stake in its struggling Sears Canada division to shareholders — a move that stands to raise as much as $380 million by November.

Boston – Drizly, a technology company powering beer, wine and liquor delivery for consumers across the U.S., has launched Drizly.com, its new e-commerce website. Drizly.com serves as an extension of the Drizly smartphone apps for iPhone and Android, which allow consumers to have beer, wine and liquor delivered in 20-40 minutes, using a network of retail delivery partners.