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Report: Abercrombie to rebrand Hollister as fast-fashion chain
New Albany, Ohio – Abercrombie & Fitch is reportedly planning to rebrand its Hollister banner as a fast-fashion retailer. According to the Wall Street Journal, this would entail lowering the prices of merchandise and creating a nimbler, U.S.-based supply chain.
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Report: Cumberland Farms sells 27 stores
Framingham, Mass. – Cumberland Farms is reportedly selling 27 stores in New Jersey, Delaware, and Pennsylvania, to Petroleum Marketing Group, based in Woodbridge, Va. According to the Boston Globe, the stores will continue to operate as convenience stores and all roughly 600 affected employees are expected to keep their jobs.
Cumberland Farms will focus on its nearly 600 remaining stores in New England, New York, and Florida. Both companies are private and terms were not disclosed.