Traders on the floor of the New York Stock Exchange wore blue jeans and denim jackets to work Thursday to herald the return of Levi Strauss to the public markets. Shares opened at $17 on the first day of trading and rose 32%, driving the company's value to more than $8.5 billion by the end of the day.
L Brands, the parent of Victoria's Secret and Bath & Body Works, has brought in a search firm to identify potential candidates for three board seats, sources said. The move comes in advance of the company's annual meeting in May, amid a push by activist investor Barington Capital Group to add more diverse and independent directors.
Walmart's chief technology officer, Jeremy King, has been named head of engineering at Pinterest. The hire comes as the image-driven social site moves up the timetable for a planned initial public offering of stock, which is now set to happen next month, sources said.
J. Crew Group is expanding its casual sibling brand, Madewell, with four new stores that have already opened this year, including a location at Hudson Yards in New York City. Madewell is scheduled to open six more locations by next February, and one or more of the stores will highlight denim and menswear.
Shanghai Fashion Week starts March 27, with 426 brands from 28 countries including the US, Denmark, Italy and the UK. Western fashion brands are in growing demand in China, but designers are on a learning curve when it comes to tailoring their marketing messages for a Chinese audience, ForwardPMX executive Hannes Ben said.
Dunkin' is joining with Saucony to release a doughnut-themed running shoe to commemorate the Boston Marathon. The sneakers, which are a play on the brand's tagline "America Runs on Dunkin'," retail for $120 and come in a shoebox shaped like a pack of Dunkin's Munchkins doughnut holes.
Digital payment services provider Square is launching Square Online Store, an online storefront service for its small merchants that will compete with Shopify. The platform will be powered by technology from Weebly, a website builder Square acquired last year for $365 million.
Uncertainty about Brexit isn't dampening shopper activity at British fashion retailer Next because a UK exit from the EU without a deal in place could mean lower tariffs, the company said. The move could save the retailer as much as £15 million and result in savings for shoppers.
Storefront likes to call itself the Airbnb of short-term retail space. Since it was founded six years ago, the New York-based startup has become the world's largest marketplace for brands to connect with retail store space across three continents. In this STORES magazine interview, Storefront CEO and co-founder Mohamed Haouache talks about the future of retail pop-ups. Read more.
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