Retail

Retail
Amazon Invests In The Climate Pledge Fund

Amazon has invested in The Climate Pledge Fund to support the development of sustainable technologies and services that will enable Amazon and other companies to meet The Climate Pledge— a commitment to be net zero carbon by 2040.

Retail
Big Lots Completes Sale/Leaseback Transaction

Big Lots has completed its previously announced sale and leaseback transactions with affiliates of Oak Street Real Estate Capital relating to its four company-owned distribution centers. Gross proceeds from the transactions were $725 million and net proceeds, after expenses and taxes, are expected to be approximately $550 million. 

Retail
Instacart Gains New Funding To Expand Growth Plans

Instacart has raised $225 million as part of a new financing round led by DST Global and General Catalyst, with existing investor D1 Capital Partners participating. The investment comes as Instacart continues to experience a surge in customer demand for grocery delivery and pickup.

Retail
Overstock Taps Nettles As Independent Director

The board of directors of Overstock has appointed William Nettles as a new independent director. Nettles is a co-founder and managing partner of Invictus Growth Partners, a private equity firm located in San Francisco that invests in and advises automation-enabled technology companies.

Retail
Bed Bath & Beyond Plans More Layoffs

As the company continues to adjust its organization, Bed Bath & Beyond plans to lay off additional workers, according to declarations filed under the Worker Adjustment and Retraining Notification Act.

Retail
Albertsons Launches Initial Public Offering

Albertsons has launched an initial public offering of 65,800,000 shares of its common stock to be sold by certain of its stockholders, at an anticipated initial public offering price between $18 and $20 per share, pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission.

Retail
J.C. Penney Slates 13 More Store Closures

J.C. Penney has taken the next step in implementing its store optimization strategy, adding 13 store closures as part of its second phase, pending court approval. Store sales are expected to begin on or around July 3.

Retail
J.C. Penney Begins Store Closing Sales

A team of disposition firms consisting of Gordon Brothers, Hilco Merchant Resources, Great American Group and Tiger Group have commenced store closing sales at 137 J.C. Penney stores across the U.S. The closures are the company’s first step in implementing a planned store optimization strategy.

Retail
Mastercard: Cash Isn’t King Any Longer

In a global Mastercard study conducted in 15 markets around the world, consumers demonstrated that they are moving away from cash and opting for contact-free and digital payments experiences, and they may not go back to old habits even after the COVID-19 pandemic wanes.

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