VF Corp., the parent of brands such as Vans, The North Face and Timberland, has laid off approximately 500 corporate employees across the organization. The news comes about one month after the company unveiled its “Project Reinvent” transformation, which was designed to alleviate pressure from an activist investor. “As part of VF’s new Reinvent strategy,…
7-Eleven will make a cash purchase of the 751-store 7-Eleven Australia chain for $1.71 billion Australian ($1.1 billion U.S.). The retailer, a long-time licensee of 7-Eleven, is the country’s largest independent convenience store chain, employing more than 9,000 people across the corporate and franchise network. The transaction is expected to close during Q2 2024. “The…
Meta is ready to launch its Twitter/X-competitor Threads in Europe this month, The Wall Street Journal reports, citing people familiar with the matter. When Threads initially launched in July 2023 it was available in most global markets, but Meta held off on launching in Europe because of that region’s strict regulations around online services and…
Walgreens has partnered with RxSense to create the Rx Savings Finder, providing shoppers with easier access to prescription discounts. Now available free to Walgreens customers nationwide, the tool finds free third-party discount cards for thousands of medications and offers customers transparent pricing before they reach the checkout counter. Patients can access the discount card prices…
Rite Aid plans to close an additional 31 stores across 12 states as part of its bankruptcy restructuring, multiple sources report. These closures join the 154 store closures that the pharmacy chain announced in October 2023. Despite these 31 additional stores, the total number of closures announced thus far is still significantly lower than the…
Hudson’s Bay has tapped Liz Rodbell, who had served as the retailer’s President from 2013 to 2017, as its new CEO and President, effective Dec. 1, 2023. In her previous stint with the company, Rodbell also was President of Lord & Taylor, following roles as EVP of Merchandising and Chief Merchant for both divisions of…
Ebay and COMC, which stands for Check Out My Collectibles, have entered a commercial agreement that includes an investment by Ebay in the trading card hobby marketplace. COMC employs nearly 300 people and has 200,000 square feet of distribution space to support its deep catalog and fulfillment capabilities. Recently Ebay has been sharpening its focus…
Leading media company Hearst is “embracing the digital economy,” with plans to develop an ecommerce marketplace for its publications across fashion, do-it-yourself (DIY), home improvement and lifestyle. The unified shopping experience is being developed in partnership with experience innovation company Valtech and will be built on the Vtex commerce platform. The ultimate goal of the…
Party City has launched a new digital party-planning marketplace, aptly called Party+ Marketplace, that brings together local vendors and service providers with the retailers’ range of party supplies. The new offering, which was developed in partnership with marketplace SaaS solution Mirakl, is initially available only in the Las Vegas area, but Party City said it…
Online pet care marketplace Rover Group has been acquired by private equity funds managed by Blackstone in an all-cash transaction valued at approximately $2.3 billion. Rover was created to provide an alternative to relying on friends, family, neighbors and/or boarding facilities for pet care. Over the years, offerings on Rover have grown to include five…
