News

Ex-Staples exec named CEO of eBags
The former head merchant for Staples has been named president and CEO of eBags Inc.

The eBags board of directors appointed Mike Edwards as president, CEO and member of the board of directors effective immediately. He also joins the company as a new investor.

Edwards most recently held the position of executive vice president of global merchandising for Staples Inc.
Macy’s feels the heat—from activist investor and Donald Trump
New York — Macy’s is feeling the heat — from an activist investor and Donald Trump.

Activist investor Starboard Value wants the department store giant to follow the example set by such other retailers and Sears Holdings and Hudsons Bay Company and capitalize on its real estate holdings by spinning them off into a new investment vehicle.

Starboard claims the move would double Macy’s stock value, Fortune reported. For more click here.

A new reason for shoppers to head to Mall of America

Mall of America is adding a big experiential retail destination.
Mavericks CEO jumps to Under Armour

Baltimore – An executive from the sports world is moving into the retail arena.

Terdema L. Ussery II has joined Under Armour Inc. as president, global sports categories, effective Sept. 14, 2015. Ussery previously served as the president and CEO of the Dallas Mavericks NBA team for the past 18 years.

In his new position, Ussery will be responsible for spearheading category management across all key brand and business units around the world to drive authenticity and connectivity with consumers.
Samsung tests mobile wallet overseas

Seoul, Korea – Samsung is testing a mobile wallet solution, but it may be a while before U.S. consumers get to join in the fun.

The consumer electronics giant announced in a blog posting that Korean consumers can now use a beta version of its Samsung Pay mobile payment application.
It's official: GameStop acquires geeky retailer

Months after trumping Hot Topic with a better offer, GameStop has officially acquired Geeknet for $140 million.
New life for C. Wonder

New York — C. Wonder, which shuttered all its stores and filed Chapter 11 early this year, is getting a second chance—sort of.

Xcel Brands has entered into a definitive agreement to acquire the C. Wonder brand from Burch Acquisition LLC. The deal gives Xcel the rights to thr C. Wonder trademarks, related designs and other intellectual property rights.

The closing of the acquisition is subject to board approval
Report: Investor urges splitting off Macy's

Macy's Inc. should split off its real estate holdings into a separate company to maximize shareholder value, Starboard Value hedge fund manager Jeffrey Smith said during an investor presentation, according to several news reports.

According to the Wall Street Journal, Smith said Wednesday it had taken a stake in Macy’s and is pushing the department store chain to spin off some of its real-estate assets.
Report: Facebook testing digital stores

Menlo Park, Calif. – Facebook is increasing its buy-in for the high-stakes poker game of social commerce.

According to BuzzFeed, Facebook has begun piloting online storefronts located within the pages of a number of retailers.
Kroger setting the standard for sustainability

Few retailers make as big an impact on the environment as Kroger, but the high performing supermarket chain has made huge progress against sustainability priorities during the past decade and now is ready to take on a new set of goals.

The company released its 2015 Sustainability Report on July 17, which chronicles progress made during the past nine years and establishes new directional priorities.