Coach has deliberately shed revenue and stores to improve its business health and to retrain customers to pay full price for its handbags and other products, writes Phil Wahba. Now, CEO Victor Luis is looking toward growth with a tender offer for Kate Spade that could position Coach as a "house of brands," Wahba notes.
Staples has turned down a buyout offer from Cerberus Capital Management, saying the bid that valued the company at more than $5.8 billion was too low, sources said. Sycamore Partners is reportedly still considering a bid to buy the office supply retailer.
Target has invested $75 million in Casper Sleep, after pondering and rejecting a plan to acquire 100% of the online mattress retailer, sources said. Target confirmed that it has invested in Casper, but declined to state the amount of its investment.
Bergdorf Goodman will feature emerging Italian designers over the next two years, in partnership with the Italian Trade Commission. The luxury department store introduced US consumers to Fendi and Brunello Cucinelli, and the goal of the new program is to nurture small new brands, executive Melissa Lowenkron said.
Pottery Barn has seen sales slip as millennials seek out furniture that works better in urban apartments and other small living spaces. Earlier this year, the Williams-Sonoma-owned chain unveiled plans for scaled-down pieces designed for smaller spaces.
Fashion brand Alice + Olivia is focused on an array of digital experiments focused on improving personalization, merchandising and mobile design, said Marianna Satanas, vice president of e-commerce. "Personalization can be a pain, but if you keep it really simple and relevant to your customers, it can be much easier to implement than you think," she said.
Hilco Streambank is seeking to auction off Hhgregg's intellectual assets, including company websites and trademarks and the company's customer database. The chain is expected to close its remaining 144 stores after Memorial Day weekend, and the intellectual property sale is pending court approval.
Family Dollar will phase in several new private brands that will be more relevant to the retailer's shopper base and focus on offering a similar quality to national brands at a value, said Bob Sasser, CEO of Family Dollar parent Dollar Tree. Family Dollar will also remodel 250 stores this year to expand food, beverage, snack, cooler and freezer space, speed up checkout and make endcaps more productive.
Amazon's two Seattle AmazonFresh Pickup spots are now open to Amazon Prime members. The stores, which previously were only available to Amazon employees, let online grocery shoppers set a time to pick up their purchases via curbside delivery.
Inserra Supermarkets-owned ShopRite has added local produce offerings at its 22 New York and New Jersey stores. The move is part of the retailer's commitment to offering fresh foods, as well as its strategy to reduce its impact on the environment.
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