News Briefs

The largest furniture store retailer in North America is extending its longstanding consumer financing program.

Ashley has been offering consumer financing in partnership with Synchrony since 2010. Under a renewed agreement, Synchrony will continue to administer the Ashley Advantage credit card and will continue to offer a range of promotional terms including deferred interest, equal pay/no interest and reduced interest plans, as well as fixed monthly payments with terms ranging from six to 72 months.

"Synchrony’s relentless commitment to innovation and customer-centric experiences makes them the perfect partner to help our licensees grow their business and keep Ashley number one," said Chad Spencer, CEO of Ashley Global Retail. "We are committed to continuous improvement in the retail finance space, and we know Synchrony is the right partner to accomplish this."

More than 750 independent Ashley licensee locations participating in the Synchrony program, which includes features such as:

• Data and analytics to support strategic decisions around promotion offerings, consumer behaviors and program performance.
• A seamless credit application process across Ashley’s in-store and digital platforms.
• Synchrony’s credit decisioning model, risk tools, and financing options.

[READ MORE: Ashley to ‘refresh’ all stores with new design]

"For nearly 15 years, Synchrony and Ashley have worked together to offer seamless financing solutions that provide real value to customers," said Curtis Howse, CEO of home & auto at Synchrony. "This renewal strengthens our commitment to supporting Ashley’s customers and independent licensees with financing options that make home furnishing purchases more accessible and affordable."

Based in Arcadia, Wis., Ashley operates more than 1,100 store locations in 70 countries.

Luxury apparel company Vince Holding Corp. has named a company veteran as its chief financial officer.

Yuji Okumura, the company's interim CFO since March 2025 and controller since September 2020, has been named CFO, effective April 14. Okurumara was appointed interim CFO following the departure of John Szczepanski, who served in the role for over a year.

“Yuji's tenure with our company, his leadership and strong financial expertise are the attributes that we need as we begin our next chapter,” said Vince CEO Brendan Hoffman, who returned to the company this year after its recent acquisition by the investment firm he co-founded, P180. “His financial discipline and insight will be invaluable as we continue to navigate a dynamic macroeconomic and consumer environment.”

Okumura has nearly two decades of experience in accounting and financial reporting. He has served as Vince’s VP, controller since 2020 after originally joining the organization in 2018 as its director of financial reporting. Prior to Vince, Okumura worked for over 11 years in public accounting at KPMG US.

“I am proud to partner more closely with our executive team and work diligently with our finance organization as we remain disciplined and focused on executing on our objectives,” said Okumura.

[READ MORE: Survey: CFOs economic optimism takes big dive]

Founded in 2020, Vince operates 44 full-price retail stores, 14 outlet stores and an e-commerce site. It also is distributed through premium wholesale channels globally.

Starbucks Corp. wants to keep things simple — and uniform — when it comes to what its store employees wear on the job.

As part of an updated dress code, starting on May 12, the coffee giant will require employees to wear solid black shirts — short and long-sleeved crewneck, collared, or button-up — and any shade of khaki, black or blue denim bottoms. Previously, the employees, or “baristas” in Starbucks speak, were able to wear any colored shirt they wanted.

In line with the change, Starbucks is making a new line of company branded t-shirts. Employees will receive two free shirts.

The new code is designed to highlight Starbuck’s signature green apron, which has been a symbol of the company since 1987.  It comes as new CEO Brian Niccol has been working to improve the chain’s performance with his “Back to Starbucks” strategy. The strategy includes a renewed emphasis on the in-store experience, with a goal of every store across North America reflecting a “cohesive and consistent” coffeehouse experience, the company said.

"We’ve made progress in our efforts to get Back to Starbucks and create a warm and welcoming coffeehouse experience for our customers,” Starbucks stated. "We’re evolving our dress code to focus on simplified color options that highlight our iconic green apron and create a better sense of consistency and familiarity for our customers.”

Frank And Oak will close the majority of its 14 stores in Canada by May 7 as it seeks a buyer amid its court-supervised restructuring process 

The sustainable fashion retailer, which is based in Montreal and owned by New York-based United Commerce Group, also has moved the closing of its U.S. operations to April.

“The closure was moved up due to growing uncertainty around tariffs and customers, which made it challenging to continue cross-border operations,” the company said in an FAQ its website. 

Returns delivered back to its warehouse by May 15 are guaranteed to be honored, the company added.

Founded online in 2012, Frank And Oak filed for creditor protection under Canada’s Bankruptcy and Insolvency Act in late December 2024, citing $71 million in debt. The brand previously filed in 2020 amid the COVID pandemic.

[READ MORE: Hudson's Bay starts liquidation at most stores]

The news about Frank and Oak comes as Canada’s Hudson’s Bay is also liquidating and closing most of its stores as it seeks a buyer.

Zaxbys has entered a fast-growing Sun Belt market as it aims to reach 1,000 total stores by the end of the year.

The quick-serve fried chicken chain has opened its first location in Las Vegas. Located in the southern portion of the city, the 2,600 sq. ft., “Modern Farmhouse” designed Zaxbys store features 50 seats for dine-in guests, as well as a drive-thru. It will create approximately 50 new jobs.

The new Zaxbys is owned and operated by Royce Chow and Jie Zhou of Zax Nevada LLC, who are working to open additional locations in Las Vegas this year.

"Zaxbys is thrilled to be working with Royce Chow and Zax Nevada LLC to open our first-ever Las Vegas location," said Mike Mettler, chief development officer at Zaxbys. "Las Vegas is just the beginning of Zaxbys’ expansion plans as we aim to open our 1000th store in 2025. We are thrilled to continue to build relationships with new franchisee partners and bring Zaxbys to additional growing markets including Arizona, Philadelphia, New Jersey, Maryland, and more."

Known for its chicken fingers and wings, Atlanta-based Zaxbys currently operates over 970 locations in 17 states. Late last year, the chain announced expansion plans for multiple East Coast markets.

[READ MORE: Zaxbys sets sights on store expansion in Philadelphia]

"We are excited to bring the first Zaxbys location to Las Vegas!" said Chow, CEO of Zax Nevada LLC. "We strive to deliver delicious Southern comfort food, great hospitality experiences, and build an organization in the community that creates opportunities for people to live their highest potential."

The price of construction materials rose for the third consecutive month in March. 

Construction input (materials) prices increased 0.5% in March, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Commercial construction input prices increased 0.9% for the month, and are up 42.8% from February 2020.

Overall and nonresidential construction input prices are 0.8% higher than one year ago, with commercial construction prices specifically up 1.7%. 

Crude petroleum prices fell considerably in March, but the decline was more than offset by rapidly rising natural gas (up 10.4%), steel (up 7.1%), copper wire and cable ( up 5.5%) and softwood lumber prices (up 4.7%).

In other month-over-month price increase, prices rose 2.3% for fabricated structural metal products, and were up 2% for adhesives and sealants.

“Construction input prices increased at a rapid pace for the third consecutive month in March and have now risen at a 9.7% annualized rate through the first quarter of 2025,” said ABC chief economist Anirban Basu. “The emerging effects of tariffs are glaring in the March data release, with iron and steel, steel mill products and copper wire and cable prices all rising more than 5% for the month.”

Contractors remain busy for the time being, according to ABC’s Construction Backlog Indicator. But pace of input price escalation, coupled with rising uncertainty, will cause projects to be delayed and canceled if it persists for any meaningful length of time, according to Basu.

[READ MORE: Labor shortage to continue impacting construction in 2025]

Associated Builders and Contractors is a national construction industry trade association established in 1950 with 67 chapters and more than 23,000 members.