News

FORT WORTH, Texas — RadioShack has unveiled a new “low touch” concept store format at the Manhattan Mall in New York and at Plaza Las Americas in Hato Rey, Puerto Rico, and plans to open another in downtown Fort Worth in October.

New York – Despite a slowdown in U.S. retail and consumer merger & acquisition (M&A) activity in second quarter 2013, consumer sentiment and retail sales trends remain positive, along with strong corporate balance sheets and availability of private equity "dry powder," which should help trigger M&A activity during the second half of 2013, according to PwC's U.S. retail and consumer deals insights second quarter 2013 report.

Walmart has fended off the best efforts of organized labor for decades, but it appears likely the company will need to elevate its game after several major unions joined forces this week.

New York – Law firm Morgan & Morgan is investigating potential legal claims against the board of directors of Saks Inc. relating to the proposed acquisition of Saks by Hudson's Bay Company. Morgan & Morgan's investigation concerns whether Saks' board of directors breached its fiduciary duties to act in the best interests of Saks' shareholders and to take all necessary steps to ensure that Saks' shareholders receive the maximum value readily available for their shares of Saks common stock.

COLUMBUS, Ohio — The Limited has appointed former Brooks Brothers executive Diane Ellis as the company’s CEO, effective August 26.

Ellis was president and chief operating officer of Brooks Brothers for six years. She oversaw information technology, human resources, retail and outlet stores, planning and allocation, product development, sourcing, supply chain, e-commerce and finance.

New York -- Ralph Lauren Corp. reported Wednesday that profit for the quarter ended June 29 dipped 6% to $181 million, compared with $193 million in the year-ago period.

Sales edge up 4% in the period, to $1.61 billion, but missed Wall Street’s estimated $1.65 billion in revenue. Same-store sales slipped 1%.

The fashion retailer has issued a cautious sales outlook, projecting a low-single-digit increase in current quarter revenue from last year’s $1.86 billion.

Walmart may make a bid for 345 store Hong Kong supermarket chain known as ParknShop that is owned by Hutchison Whampoa, according to a Reuters report that cited people familiar with the matter.

Walmart is often linked to international retailers as a potential acquirer and according to the Reuters report it is among eight potential suitors for ParknShop who have until August 16 to submit preliminary offers.

Max-Wellness, the health and wellness retail concept founded by former OfficeMax CEO Michael Feuer, named VP of finance Tom Mack to the newly created role of SVP and chief financial and administrative officer.

Mack joined the company in the fall of 2011 as controller and was elevated to the vp of finance role last year. Max-Wellness operates six stores, three in the Cleveland area, two in Naples, Fl., and one in nearby Sarasota.