News

Rue La La goes global
Rue La La is embarking on a cross-border journey. Pure-play retailer Rue La La is going international. The retailer is expanding its reach to members in 219 countries and territories. By utilizing the Borderfree Retail Platform from Pitney Bowes, the brand can now support a seamless shopping experience internationally, from leveraging local currency to accessing available local shipping services, regardless of where the member is located.
American Apparel’s Paula Schneider lands new CEO job
That didn’t take very long. Industry veteran Paula Schneider, former CEO of American Apparel, has been named chief executive of DG Premium Brands, whose brands include 7 For All Mankind, Splendid and Ella Moss. Schneider took the reins of the embattled American Apparel in December 2014. She steered the chain through bankruptcy and reorganization and launched an ambitious turnaround strategy. Schneider left American Apparel in early October amid rumors that the company was on the block.

Report: Drexler seeks help to turn around struggling J. Crew

Legendary retailer Mickey Drexler, chairman and CEO of J. Crew, is working with McKinsey & Co. to develop a new business strategy for J.Crew, reported The New York Post. J. Crew is looking to reverse a two-year slump. In its most recent second quarter, same-store sales fell 8%, the eight straight quarter of declines.
Alliance Data to continue credit card partnership with home furnishings giant

Alliance Data’s card services business has renewed its agreement with Restoration Hardware. Alliance signed a long-term renewal agreement to provide private label credit services for the luxury home furnishings retailer.
Tile Shop tops Q3 estimates

The surge in home improvement projects is helping fuel sales at The Tile Shop. Tile Shop Holdings Inc. on Tuesday reported third-quarter profit of $4.6 million for the third quarter, ended Sept. 30. Earnings, adjusted for non-recurring costs, came to 10 cents per share. The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
eBay boosts furniture shopping

eBay’s newest furniture destination looks like a page right out of Architectural Digest.
Mixed-use project breaks ground at Pittsburgh historic site

Arsenal Park, an often overlooked historical site in Pittsburgh, is now destined to re-emerge as Arsenal 201, a residential and retail project. Milhous Development broke ground last week on the $100 million first phase of the project, which encompasses and entire block between 39th and 49th Streets in the city’s Lawrenceville section. That was the site of the Allegheny Arsenal, a key manufacturing and supply facility for the Union Army where an 1862 explosion took the lives of 78 workers -- the largest civilian disaster of the war.
Walgreens to ship online orders to stores

Walgreens has joined the ranks of retailers working to get merchandise ordered online into customers’ hands faster. The drugstore chain has launched a ship-to-store program that offers free shipping to a Walgreens or Duane Reade store for orders made on the chain’s website and mobile app. No minimum purchase is required.
Michigan center sold for $11.5 million

Southfield, Michigan-based Versa Development has purchased Cascade Crossing in Sault Ste. Marie for $11.5 million. Mid-America Real Estate Corp. handled the sale on behalf of the seller, DDR Corp. Situated at the junction of Interstate 75 and 3 Mile Road in the Canadian border town, the 276,361-sq.-ft. center is anchored by Kohl’s, J.C. Penney, TJ Maxx, and Jo-Ann Fabrics.
Supervalu in $1.36 billion cash deal to sell Save-A-Lot

Supervalu has found a buyer for its discount grocery business, Save-A-Lot. Supervalu agreed to sell Save-A-Lot to Onex Corporation, a Toronto-based private equity firm, for $1.365 billion in cash. As part of the agreement, Supervalu will provide professional services to Save-A-Lot for five years. The sale is expected to be completed by January 31, 2017, subject to regulatory approvals and other customary closing conditions.