News

A match made in heaven. That’s what some are calling the David Bowie dedicated pop-up in Selfridges’ renowned London flagship. Called David Bowie Is All Yours, the pop-up was created in collaboration with London’s Victoria & Albert Museum’s record-breaking retrospective of the legendary performer.  
 

New York -- Giving a much-needed boost to J.C. Penney Co., George Soros’ Soros Fund Management bought 17.4 million shares of the troubled retailer, according to a filing with the Securities and Exchange Commission.  

The stake, which was seen as a vote of confidence in returning CEO Mike Ullman, makes the billionaire investor the fourth-largest Penney shareholder, with a 7.9% stake.

New York -- The U.S. Senate on Thursday voted to move forward with the Marketplace Fairness Act, legislation that would allow states to force retailers to collect online sales taxes, if the states choose to do so.  

New York -- Christopher Finazzo, 57, who was an executive VP and chief merchandising officer at Aeropostale, was found guilty on Thursday of 14 counts of mail fraud, one count of wire fraud and one count of conspiracy. He faces up to 20 years in prison on each of the fraud convictions and up to five years for the conspiracy charge.
      
The jury took less than five hours to reach the verdict, which came after a three-week criminal trial in Brooklyn, N.Y.
     

SEATTLE — Starbucks reported that its second-quarter profit rose 26% to $390.4 million, up from $309.9 million last year, amid sales increases in the Americas and Asia regions.

Total net revenue for the quarter ended March 31 rose 11% to $3.56 billion, not quite the $3.58 billion Wall Street expected. Global same-store store sales grew 6%, driven by a 4% increase in traffic and a 2% increase in average ticket, marking the 13th consecutive quarter of global comp growth greater than 5%. 

CLEVELAND — Max-Wellness is set to open the first of its new concept Mini-Max stores in the Center for Healthy Living situated on the 83-acre campus of Moorings Park, an upscale Naples, Fla., retirement community. 

The grand opening will be held May 7 and will feature a number of services for its 700-plus residents and visitors, including medical and exercise facilities, a spa and beauty center and a 75-seat movie theater.

NEW YORK — Christopher Finazzo, 57, a former EVP and CMO at Aeropostale, was found guilty of 14 counts of mail fraud, one count of wire fraud and one count of conspiracy. He faces up to 20 years in prison on each of the fraud convictions and up to five years for the conspiracy charge.

The jury took less than five hours to reach the verdict, which came after a three-week criminal trial in Brooklyn, N.Y. 

GOODLETTSVILLE, Tenn. — Dollar General and Procter & Gamble are teaming up to honor a Florida mom as its official Every Day Hero for the month of May.

MISSISSAUGA, Ontario – Walmart Canada is looking to resolve Canada’s raccoon problem by carrying Great Value Mint-X raccoon repellent garbage bags. 

NEW YORK — CIT Group, a leading provider of financing and advisory services to small businesses and middle market companies, has named Todd Harrington Northeast regional sales manager of CIT Trade Finance.

He will report to Marc Heller, Northeast regional manager and international manager of CIT Trade Finance.