A decades-old apparel retailer finds itself no longer in fashion, undone by fast-fashion competition and a lack of e-commerce expertise.
Joyce Leslie filed for Chapter 11 bankruptcy court protection in White Plains, New York, and is a likely candidate for liquidation, Women’s Wear Daily reported. The chain, founded in 1945, operates 47 stores throughout the Northeast.
Plymouth Meeting, Pa. -- Metro Commercial Real Estate announced it has negotiated 13 new store openings for Dollar Tree in Pennsylvania.
Dollar Tree a value-driven variety store operating at a one-dollar price point, with stores where Middle America lives and shops and incorporates the philosophy of bright stores, big signs, and a clean environment.
Kmart is launching a new social media campaign called “Fit in the Fun” that promotes the enjoyment of healthy activities while also engaging members of its Shop Your Way loyalty program.
The program includes a dedicated Fit in the Fun website as well as a #FitintheFun hashtag campaign. In addition, celebrity fitness instructor Jillian Michaels (who has an established relationship with Kmart) offers online tips and also sells branded merchandise on the new site.
In what was arguably one of the strangest holiday season in recent memory – for a variety of reasons – retailers have reported a variety of results ranging from impressive to outright awful.
Five Below says its same-store sales rose 4.1% during the holiday season, prompting the company to boost its guidance for the fourth quarter.
The company announced that net sales for the nine-week period ended Jan. 2 increased by 24% to $286.1 million from $230.7 million in the comparable nine-week period of fiscal 2014, while same-store sales for this period increased by 4.1% over the comparable period in fiscal 2014.
Dollar Tree says Family Dollar CEO Howard R. Levine is stepping down as an officer of the company following the integration of Family Dollar.
The company had previously announced that Levine would remain with the company for a period of time to assist with the integration, reporting to, and supporting, Dollar Tree’s CEO, Bob Sasser. Gary Philbin, who was named Family Dollar’s president and COO in July, will continue leading Family Dollar and will continue reporting to Sasser.
Leading department store operator Hudson’s Bay Company confirmed months of speculation and agreed to pay what appears to be a modest sum to acquire online luxury retailer Gilt Groupe.
Hudson’s Bay, which operates 470 department stores including Saks Fifth Avenue and the Off 5th discount format, said it agreed to pay $250 million for Gilt in a deal that will add $500 million to 2016, $40 million in adjusted operating profit by 2017 and countless synergies to leverage the combined companies’ infrastructure and customer databases.
