In a decision that allows the company to emerge from Chapter 11, the Bankruptcy Court for the Southern District of Texas issued a ruling confirming Neiman Marcus Group’s plan of reorganization.
Second Avenue Capital Partners has provided a $35 million senior secured credit facility to a joint venture of Marquee Brands and CSC Generation in support of their newly acquired kitchenware retailer Sur La Table. Proceeds from the transaction are being used to provide additional working capital and support growth.
Bed Bath & Beyond has appointed Rick Wilkins as regional vice president for the west region, effective immediately. Wilkins will report directly to Gregg Melnick, evp/chief stores officer, and will play a key role in the planning and execution of the company’s store optimization strategy.
The wait is over for entrepreneurs who submitted their applications for Walmart’s seventh annual Open Call event, as approximately 850 small and medium-sized businesses received their official invitations to pitch Walmart merchants at Walmart’s annual merchandising event on October 1.
After closing stores in March due to the COVID-19 pandemic, Five Below reopened its locations in late April and consumers drove second quarter sales and earnings higher.
Hudson’s Bay is introducing a new initiative to extend its enhanced health and safety measures in its stores. With customer and associate well-being top of mind, select Hudson’s Bay locations will now feature CleanSlate UV sanitizers, a technology that uses medical-grade UV rays to sanitize objects like cell phones, wallets, keys and bank cards.
CB2 has partnered with ShopRunner to provide free two-day shipping, free returns and exclusive discounts, allowing customers to enable two-day shipping on smaller home décor items and an exclusive discount on larger items such as furniture and other oversized items.
For the fiscal month of August, Costco reported net sales of $13.56 billion versus $11.79 billion for the period a year prior.
Despite coronavirus-associated challenges, Michaels managed to have a better-than-expected second quarter.
Bed Bath & Beyond has appointed Wade Haddad as svp/real estate and construction. Haddad joins with over 25 years of real estate experience and will lead the company’s recently announced store optimization strategy.
Despite talks, J.C. Penney has not been able to reach a deal with landlords and so lenders may wind up taking the company over.