News

BCBG to get new lease on life
Bankrupt fashion retailer BCBG Max Azria Group has reached an agreement on a comprehensive restructuring. It includes the possible sale of nearly all the retailer's assets to Marquee Brands LLC and Global Brands Group Holding Limited. The completion of the transactions with Marquee and Global Brands are expected to immediately follow approval by the United States Bankruptcy Court. The expected closing date is no later than July 31, 2017.
Online giant bolsters fulfillment fleet as it enters new territory
Amazon continues to expand its footprint of distribution centers. Amazon is set to break ground on its first fulfillment center in the state of Oregon. The 855,000-sq.-ft. facility, which will be located in Troutdale, will augment the company’s sortation center in Hillsboro, and Prime Now hub in Portland.

Dollar Tree makes exec promotion

Dollar Tree has promoted a key executive as the discounter continues its rapid expansion. The retailer, which plans to open 650 stores in 2017, has promoted Michael A. Witynski to president and COO of its Dollar Tree division. Witynski will be responsible for merchandising, marketing and store operations for Dollar Tree stores in the United States.
Target and Cartwheel apps to merge

Target upping its mobile game. In a move that will eliminate customer confusion over the retailer's two separate apps, the discounter will move its Cartwheel savings app into the main Target app. The integration will happen this summer.
Apparel giant in store closing move amid sales drop

Ascena Retail Group, operators of such brands as Ann Taylor, Lane Bryant and Dressbarn, is planning to close hundreds of stores. The news came on the heels of a brutal third quarter. The company reported a net loss of $1.031 billion, or $5.29 per diluted share in the third quarter ended April 29, compared to net income of $15 million last year, or $0.08 per diluted share, in the year-ago quarter.
French retail giant names new CEO

One of the world's largest retailers has appointed a new chief executive as its looks to catch up with the online revolution and shore up its home performance. Carrefour has named Alexandre Bompard, 44, as its new chairman and CEO, effective July 18, ending an eight-month search. He succeeds Georges Plassat, who has served in the top position at the hypermarket retailer, which operates more than 11,900 stores in over 30 countries, since 2012.
Report: The Body Shop to be sold in $1 billion deal

It appears that L'Oreal has settled on a buyer for The Body Shop. The French cosmetics giant is in exclusive talks to sell its Body Shop division to Brazilian make-up company Natura Cosmeticos, Bloomberg reported. The reported price: $1.1 billion, Natura is the largest Brazilian cosmetics company. The transaction would be subject to regulatory approval and would be expected to close later this year.
KFC, Marietta, Georgia

A local landmark, which also happens to be one of KFC's most iconic locations, has reopened after a $2.2 million renovation.
Report: Lowe’s outsourcing tech jobs

Lowe's is making another round of job cuts. The home improvement chain is laying off some 125 information technology workers and many of the jobs to India, The Charlotte Observer reported. Lowe’s currently employs approximately 1,000 people in information and technology and analytics in Bangalore, India.
Report: Office supplies giant names new CIO as it gears up for big initiative

Staples named a new technology chief who is expected to step up the company’s IT initiatives.