News

The Men’s Wearhouse has rejected Jos. A. Bank’s offer to acquire the retailer for about $2.3 billion in a $48 per share all-cash offer, and Jos. A. Banks is not taking no for an answer. 

The acquisition would create a men’s apparel powerhouse with more than 1,700 stores across the nation. However, the Men’s Wearhouse said in a press release that the unsolicited offer significantly undervalues the company, is inadequate and not in the best interests of the company or its shareholders.

Philadelphia -- More than three-fourths (79%) of retailers expect an increase in sales this holiday season – the highest percentage seen since the financial downturn. That’s according to global management consultancy Hay Group’s seventh annual retail holiday survey, whose results were more optimistic that several other holiday forecasts.

Milk-Bone has teamed up with lifestyle technology company Brit + Co. to help launch a new pets destination website at brit.co. To celebrate the partnership, Milk Bone is holding a Halloween "Trick or Treat Best Pet Costume Contest." 

London -- Storage Made Easy announced that the global cosmetics retailer Lush has chosen to use its Enterprise File Share and Sync solution with data stored on OpenStack Swift.


Lush ran an initial two month trial with 50 people prior to moving forward with the Storage Made Easy solution. They subsequently rolled out the solution in stages, by department, first to 150 people and then on to 300 people, and then again on to 500 people.

L’Oréal is expanding its relationship with Demandware, a cloud commerce solutions provider, and will use the Demandware Commerce platform to power the digital transformation strategy of its brand portfolio around the globe. 

Dallas – SAP previewed a mobile app called Snap at its SAP Retail Forum held in Dallas Oct. 7-9. Designed for both tablets and smartphones, Snap is aimed at consumers who purchase items that require DIY assembly.

Saks chairman and CEO Stephen Sadove has been named to the board of directors at J.C. Penney to fill a position being vacated by Geraldine Laybourne.

Sadove will be leaving his position at Saks soon as the upscale department store chain was recently sold to Hudson’s Bay Company. Sadove joined Saks in 2002 as vice chairman and assumed the additional post of chief operating officer in 2004. He became CEO in 2006 and the following year was named chairman.

Washington, D.C. -- Some two-thirds of Americans say they support the Federal e-Fairness legislation calling for collection of online sales tax at the time of purchase.

A national poll conducted by the International Council of Shopping Centers found that a majority of Americans feel it would be far easier to pay sales or use tax on online purchases at the time-of-purchase. The poll also showed an increase in support among voters for federal legislation that would restore basic free market principles for brick-and-mortar retailers.