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Collective Brands to close 475 underperforming stores as it considers selling itself
Topeka, Kan. -- Collective Brands, parent company of Payless and Stride Rite shoe chains, announced Wednesday that it would close 475 underperforming stores over the next three years and has hired a firm to help it explore its options.
The company hired Perella Weinberg Partners and Kurt Salmon as advisors to explore strategic alternatives.
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Steve Jobs resigns as Apple CEO
Cupertino, Calif. -- Apple announced late Wednesday that its CEO Steve Jobs has resigned his post, effectively immediately, to be succeeded by current COO Tim Cook.
Jobs, the visionary whose contributions created the world’s most innovative technology company, is battling pancreatic cancer and has received a liver transplant. Concerns about his health led to his decision to resign.