News

Sears Canada could file for Chapter 11 sooner than expected.   The struggling offshoot of Sears Holdings Corp., is preparing to seek court protection against its creditors. The filing — which could happen within weeks — will likely lead to a liquidation, with the business sold off in pieces, sources told Bloomberg.  

As Amazon continues to ready its cashierless convenience store concept for the public, the company has lost one of the project’s technology leaders.  

As a number of traditional chains across the industry continue to struggle, TJX Cos. is being called one of the country’s fastest growing retailers.   Traditional retailers industry-wide are blaming shifting consumer tastes, digital options and new competitors for not only stealing their wallet share, but for declining foot traffic and related sales. However, this could not be farther from the truth for TJX Cos.  

J. Crew just bought itself some more time with its lenders.   Lenders holding approximately 88% of the outstanding principal amount of loans under J. Crew’s term loan agreement have approved a term amendment. The amendment, initially proposed in mid-June, was offering to exchange its $566.6 million of outstanding pay-in-kind notes due 2019. The notes were issued by Chinos Intermediate Holdings, an indirect parent to J.Crew.  

The Fresh Market's chief executive has resigned after less than two years on the job.    The Fresh Market announced that Rick Anicetti has resigned as CEO and board member. No reason was given for his departure. Anicetti took the reins of the specialty grocer in September 2015, bringing more than 30 years of experience across a variety of retail functions at Hannaford Brothers Company and Food Lion, where he served as president and CEO.   

There have been a couple of changes in the C-suite at Things Remembered.   

Lowe’s Foods is taking steps to increase efficiency across its workforce.   The grocer is adopting enterprise labor planning and workforce management solutions from Logile across the chain’s nearly 100 stores operating in the Carolinas and Virginia. The solutions will help the grocer generate more accurate sales and labor forecasts, and improve scheduling at the task level across all store departments.  

A former executive at Toys "R" Us has joined the executive team of Bridgestone Americas.   Bridgestone named Joe Venezia as president of Bridgestone Retail Operations, effective June 19, 2017. He most recently served as executive VP of global store operations at Toys "R" Us. Venezia joined the toy retailer in 2014 as senior VP, store operations. Prior to Toys "R" Us, Venezia was senior VP of operations and head of stores for convenience-store chain The Pantry.  

Physical stores still have some key benefits over online retail.  

The ink is barely dry on Amazon’s acquisition of Whole Foods Markets, yet the natural grocer’s CEO implied that “big ideas” are already in the works.