News

Staples chairman and CEO Ron Sargent said that the company has more work to do to stabilize its retail business, following a 20% decline in net income to $81.88 million for the second quarter, from $102.53 million in the prior year.

Sargent added that the company will continue taking steps toward improving customer traffic, reduce expenses and close underperforming stores.

Clothing and shoe retailer Sam Edelman’s upcoming fall advertising campaign will feature supermodel Kate Upton.

This season is Upton’s third as a model for the company. The campaign will be the first to advertise for Sam Edelman’s line of apparel, and features shots of Upton by Mert Alas and Marcus Piggott, who photographed her in London.
 

PetSmart is exploring strategic alternatives to maximize shareholder value, including a possible sale of the company. The news comes on the heels of its second quarter results, and just a little less than two months after activist investor Jana Partners acquired a 9.9% stake in the company and began looking to make changes.

Toms will be partnering with investment firm Bain Capital in an effort to expand the company’s reach and its charitable efforts.

Though no financial information about the agreement was announced, Toms founder Blake Mycoskie will remain in charge of the company and maintain his 50% share of it. Additionally, Mycoskie will use half of the money he gained from the partnership to start a fund for social causes and entrepreneurship.

The app imoji, which allows users to create emoji characters from photos, announced Wednesday that it had secured $2 million in venture funds from Joe Lacob and Goodwater Capital. The app has been available in Apple’s app store for less than a month.

Dove, in partnership with E! Entertainment, will showcase the One Shower Challenge during the network's red carpet coverage of the Emmys on Aug. 25. The goal of the challenge is to highlight the results of Dove's new body washes.

New York -- As analysts begin to speculate about the acquisition scenarios for Family Dollar – whether by Dollar Tree or Dollar General – one thing is clear: some store closures will occur.

According to a report by Wall Street Journal Online, a Dollar General takeover would close more stores than if Dollar Tree wins the bid. Dollar General said it is prepared to divest up to 700 of the combined company’s approximate 19,600 stores to satisfy antitrust regulators.
 

Las Vegas -- A resident of Las Vegas has launched a shoe vending machine, according to the Las Vegas Business Press. The business was born of a need to change out of high heels and into more comfortable footwear.

Ashley Ross launched Rollasole, a vending machine that dispenses comfortable flats. MGM Resorts International sells the shoes in several of its retail outlets in its Las Vegas resorts. And the shoes can be purchased in stores at Wynn Las Vegas and The Cosmopolitan of Las Vegas as well.

New York -- Lane Bryant announced that American ready-to-wear designer Lela Rose will be creating a limited-edition line exclusively for the special-sized retailer. The collection is set to hit stores summer 2015, and will be sold under the Lela Rose Exclusively for Lane Bryant label.

Lela Rose will be the third designer collaboration for Lane Bryant, joining the Sophie Theallet and Isabel Toledo collections.

Atlanta -- Home Depot said its fiscal second-quarter net income rose 14% amid a rebound in its spring selling season and strong online sales. The retailer also raised its annual profit guidance.

"In the second quarter, our spring seasonal business rebounded, and we saw strong performance in the core of the store and across all of our geographies," stated Frank Blake, chairman and CEO.

For the three months ended Aug. 3, Home Depot Inc. earned a better-than-expected $2.1 billion, compared to $1.8 billion in the year-ago period.