New York City — Foot Locker, Inc. has named Franklin R. Bracken, currently its executive vice president and chief commercial officer, to the role of president, effective immediately. Bracken will continue reporting to Mary Dillon, Foot Locker, Inc.’s chief executive officer. In his new role, Bracken will work alongside Dillon to accelerate the execution of the Lace Up Plan, the company’s strategy to elevate the omni-retail experience, enhance productivity and create long term shareholder value. Bracken will also continue to oversee global retail operations, merchandising, marketing, digital, loyalty and real …
retailers
Chesapeake, Va., and New York City — Dollar Tree Inc. has agreed to sell the Family Dollar business segment to Brigade Capital Management LP and Macellum Capital Management LLC for $1 billion. The sales price represents a fraction of the $8.5 billion that Dollar Tree paid for the discount brand in 2015. Family Dollar will remain headquartered in Chesapeake, Va. Family Dollar, which caters to low-income customers with its roughly 8,000 U.S. stores, has struggled in recent years. In March 2024, Dollar Tree unveiled plans to close approximately 970 underperforming …
11 Preventive Maintenance Services Retailers, Restaurants Need
Restaurants and retailers move fast. There’s no time for unexpected maintenance issues to slow you down. Preventive maintenance (PM) programs can help you avoid disruptions. “For retailers and restaurants, preventive maintenance programs are vital, but often overlooked,” says John Catanese, senior vice president at Chain Store Maintenance, an MCS Company. “They ensure your business can provide the best service to your customers consistently, safely, efficiently and cost effectively.” Why PM Matters Preventive maintenance delivers several key advantages: Enhanced reliability. By addressing minor issues before they escalate, you can prevent unexpected …
Murray, Utah — Beyond, Inc., owner of Bed Bath & Beyond, buybuy BABY and Overstock, has agreed to sell its Zulily brand to Lyons Trading Company, the operator of leading online off-price retailer Proozy.com. Beyond will receive $5 million while maintaining a 25% stake in the brand. “We have made significant progress in improving the performance of Bed Bath & Beyond and Overstock.com through sequential margin improvement, improved site experience, vendor consolidation and right-sizing our fixed expenses. With the recent acquisition of buybuy Baby, we want our team laser focused …
Secaucus, N.J. — The Vitamin Shoppe®, a leading omnichannel specialty retailer of nutritional products, is strengthening its brand partnerships while redefining the in-store shopping experience in select markets with the launch of its new ‘Hometown Stores’ concept. These retail collaborations pair a local The Vitamin Shoppe store with a top partner brand that has its company headquarters and deep roots in the same metro area — creating a one-of-a-kind destination for brand enthusiasts and the local wellness community. Each Hometown Store features an enlarged, custom-branded retail space within an existing …
Petco Partners with TerraCycle to Launch First-Ever National Trade-In and Recycling Event
San Diego — In mid-March, Petco launched its first-ever national trade-in and recycling event in partnership with TerraCycle, an international leader in sustainability solutions, including giving hard-to-recycle materials a new life. In honor of Global Recycling Day on March 18 and just in time for annual spring cleaning, Petco is helping pet parents recycle their dogs’ old collars, leashes and harnesses for an upgrade and a safer, more comfortable fit. For a limited time, pet parents can bring old dog collars, leashes or harnesses into Petco locations nationwide for responsible …
Grand Rapids, Mich. — Meijer will open three new supercenters in Northeast Ohio on May 8, increasing the retailer’s store count to 58 in the state. The new 159,000-square-foot supercenters will be located in Austintown, Medina and Richmond Heights. The stores will feature the wide assortment of fresh produce and grocery staples Meijer customers know and love. The supercenters will also include a full-service pharmacy, health and beauty care section, an expansive pet department, electronics, toys and sporting goods. A Meijer Express gas station will open on April 10 adjacent …
Richardson, Texas — Fossil Group, Inc. has appointed Randy Greben as chief financial officer, effective March 17. He replaces Andrew Skobe, interim chief financial officer. Greben will oversee Fossil Group’s global financial strategy, focusing on leading the organization’s financial turnaround and business transformation. With more than two decades of financial leadership experience, Greben brings a strong track record of business transformations — ranging from deep turnarounds to high-growth strategies for a number of leading consumer brands. “For decades, Fossil Group and its iconic global brands have been part of the …
Los Angeles — Forever 21 has filed for Chapter 11 bankruptcy and will begin the process of closing all its U.S. stores. According to Reuters, the U.S. store count is about 350. The Los Angeles-based apparel retailer filed over the weekend in the U.S. Bankruptcy Court for the District of Delaware. Forever 21 has entered into a plan support agreement with its lenders to begin the voluntary closure process while continuing to look for sales opportunities of existing U.S. assets. Forever 21 was founded in 1984 and had a footprint …
Secaucus, N.J. — The Children’s Place, Inc., the largest pure-play children’s specialty retailer in North America with an omnichannel portfolio of brands, has appointed John Szczepanski as chief financial officer, effective March 31, 2025. He will report to Muhammad Umair, president and interim chief executive officer. As CFO, Szczepanski will oversee finance, accounting, financial planning & analysis, tax, treasury, procurement, investor relations, internal audit and real estate. “Today marks an exciting new chapter for our company as we welcome John to be our chief financial officer,” says Umair. “During this …