Facing regulatory challenges to their proposed $24.6 billion merger, Kroger and Albertsons have increased the number of supermarkets they plan to divest by 166, for a total of 579 stores. The retailers also have increased the corporate and office infrastructure they would sell to C&S Wholesale Grocers, as well as additional private label product lines,…
A consortium led by Toys ‘R’ Us owner WHP Global that includes mall operators Simon Property Group and Brookfield Properties has offered to buy a “substantial majority” of Express, Inc.’s retail stores and operations. In order to facilitate the sale and free up the liquidity needed to continue operations during the process, Express has filed…
Lowe’s has partnered with the world’s best-known soccer player, Lionel Messi, and his MLS Club Inter Miami CF, for programs that spotlight Messi’s skills at assisting on the field. Members of both the MyLowe’s Rewards and MVPs Pro Rewards loyalty programs will receive an “assist” in the form of 100 points to bring them closer…
The Children’s Place will get a $90 million unsecured and subordinated loan from Mithaq Capital SPC, a Saudi Arabia-based venture capital firm that had purchased a majority stake in the company in February 2024. That stock acquisition had automatically put The Children’s Place into default on its existing credit agreements; this new financing will “waive…
[Update as of 4/19/2024] Wayfair has provided more details on its inaugural large-format store. The 150,000-square-foot location will open on May 23, 2024 in Wilmette, Ill.’s Edens Plaza. The grand opening celebration that weekend will feature exclusive deals and family-friendly activities for shoppers; further details will be made available here in the run-up to the…
Erik and Pete Nordstrom, the CEO and President, respectively, of Nordstrom, want to explore a transaction that would take the company private. In response, the Nordstrom board of directors has authorized the “exploration of possible avenues to enhance shareholder value,” forming a special committee of independent and disinterested directors to evaluate proposals from the Nordstroms…
Louisa Serene Schneider did not set out to be a CEO, let alone a founder. But inspiration struck while she was working for a retail-focused hedge fund and realized the lack of safe piercing options for consumers. This white space became even more obvious to Schneider when she was looking for a safe place to…
Image courtesy Detoure Detoure, a resale marketplace that curates styles from influencers, will open its first permanent brick-and-mortar thrift store April 20 on Los Angeles’ Melrose Avenue. Over the past three years the site has hosted more than 50 pop-ups across the U.S. that regularly go viral on social media. Launched in 2021, Detoure sources secondhand…
Hill Beverage products on display at Total Wine Beginning on the unofficial cannabis holiday of 4/20, Total Wine & More will make CBD and THC-infused beverages from Hill Beverage Co. available for delivery across the country in as little as 15 minutes. The “Do it Fluid” beverages, made in collaboration with Snoop Dogg and Death…
Two delivery platforms, Gopuff and Grubhub, have broadened their assortments to include groceries, including fresh items. Gopuff has partnered with Misfits Market, an online grocer dedicated to reducing food waste that delivers to Gopuff’s microfulfillment centers nearly every day, while Grubhub will work with Mercato, an online marketplace for independent grocery stores with more than…
