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Stop & Shop to Close 32 Stores in the Northeast

by Hayden Spiess

Quincy, Mass. — Stop & Shop, a grocery store chain based in the Boston suburb of Quincy, has announced plans to close 32 locations by the end of this year.  Situated throughout the Northeast, the stores — described in a press release as “underperforming” — are located in Connecticut, Massachusetts, New Jersey, New York and Rhode Island. According to the grocer, the affected stores will shutter on or before Nov. 2. Associates at the locations will be offered other employment within the company.  “As we announced in May, Stop & …

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Big Lots to Close 35 to 40 Stores in 2024

by Katie Lee

Columbus, Ohio — Discount retailer Big Lots plans to close 35 to 40 stores this year, according to an SEC filing submitted by the company. Big Lots saw a 10.2% year-over-year decrease in net sales in the first quarter of 2024. “While we made substantial progress on improving our business operations in Q1, we missed our sales goals due largely to a continued pullback in consumer spending by our core customers, particularly in high-ticket discretionary items,” says Bruce Thorn, president and CEO of Big Lots. “We remain focused on managing …

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Saks Fifth Avenue Parent Company Agrees to Acquire Neiman Marcus for $2.6 Billion

by Katie Lee

New York City and Dallas — HBC, the New York City-based parent company of Saks Fifth Avenue, has agreed to acquire Dallas-based Neiman Marcus Group. The merger between the two luxury fashion retailers is valued at $2.6 billion. An estimated closing date was not released. Following the acquisition, HBC will establish Saks Global, an entity that will combine the intellectual property and real estate assets of the two companies. Brands that are already owned by HBC or Neiman Marcus, including Saks OFF 5th, Bergdorf Goodman and Last Call Outlet, will …

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Bob’s Stores to Close All 21 Remaining Locations After 70 Years in Business

by Katie Lee

Meriden, Conn. — Bob’s Stores is closing all locations and liquidating its inventory as part of the Chapter 11 bankruptcy restructuring petition filed on June 18. The Meriden, Conn.-based clothing retailer, which is a subsidiary of GoDigital Media Group, was unable to secure the financing needed to maintain operations. Bob’s began going-out-of-business sales in stores on June 28 with discounts of 30% to 70% off merchandise. Hilco Merchant Resources, in a joint venture with Gordon Brothers, is managing the liquidation event that includes all 21 remaining stores throughout Connecticut, Massachusetts, …

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Newspeopleretailers

Authentic Appoints SVP to Drive Brand Growth Across Japan

by Katie Lee

New York City — Authentic Brands Group, a global brand development, entertainment and marketing platform, has appointed Jeff Daggett as senior vice president – head of Japan. With more than three decades of industry experience, Daggett will play an integral role in strengthening Authentic’s foothold presence and driving brand growth within the Japanese market. “Jeff’s extensive industry experience and proven track record make him an ideal leader to drive Authentic’s expansion across Japan,” says Wesley Chu, regional president APAC, Authentic. “We are excited to welcome his strategic vision and comprehensive …

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NewsProduct Spotlightretailerssoftware/technologyvendors

Target to Roll Out GenAI Technology to its Store Team Members Chainwide

by Katie Lee

Minneapolis — Target Corporation plans to roll out a new generative artificial intelligence (GenAI) tool to team members at all of its nearly 2,000 stores by August, becoming the first major retailer to share that it is bringing this technology to its store team members across the U.S. The tool, called Store Companion, is a GenAI-powered chatbot designed by Target that can answer on-the-job process questions, coach new team members, support store operations management and more. “We know technology will continue to play an outsized role in the future of …

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Newspeopleretailers

National Vision Welcomes New Chief Stores Officer

by Katie Lee

Duluth, Ga. — National Vision Holdings, Inc. has appointed Mark Banner as the company’s new chief stores officer, effective July 8, 2024. He joins the company after a 7-year tenure at Sleep Number. Most recently, he served as senior vice president of retail and real estate. His extensive experience encompasses leading teams in sales, sales operations, digital, promotion and real estate. Before Sleep Number, Banner dedicated 18 years to Signet Jewelers, the world’s largest specialty retailer jeweler. He began his career at Signet as a store manager and rose through …

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Meijer Marks 90th Anniversary

by Katie Lee

Grand Rapids, Mich. — Amidst the Great Depression in 1934, Hendrik Meijer, a local barber in Greenville, Mich., took a chance and opened Meijer’s Grocery with his wife Gezina and their children, 18-year-old Johanna and 14-year-old Fred, to take care of customers who visited Hendrik’s barbershop. Fast-forward to today and the family-owned retailer is celebrating its 90th anniversary with more than 500 Meijer supercenters, grocery stores, neighborhood markets, express locations and distribution and manufacturing facilities throughout six Midwest states. “We have built an incredible team here at Meijer that is …

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franchise developmentNewsretailers

Pet Supplies Plus and Wag N’ Wash Enjoy Double-Digit Mid-Year Growth

by Katie Lee

Livonia, Mich. — Pet Supplies Plus and Wag N’ Wash report double-digit mid-year growth with 23 sold franchise agreements and 16 store openings. Collectively, the brands are projected to sell a total of 70 franchise units and open at least 45 stores by year-end. While each franchise has a unique offering, both legacy brand Pet Supplies Plus and emerging concept Wag N’ Wash have the billion-dollar backing of 30+ years of franchise and industry experience. As the largest pet retail franchise in North America, Pet Supplies Plus continues to be …

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CFO of Natural Grocers by Vitamin Cottage, Inc. to Retire

by Katie Lee

Lakewood, Colo. — Todd Dissinger, chief financial officer of Natural Grocers by Vitamin Cottage, Inc., has informed the company of his intention to retire on December 31, 2024. He will continue to serve as chief financial officer until his successor is appointed to ensure a smooth transition. “Since his appointment as chief financial officer in December 2017, Dissinger has been an invaluable member of our executive team, helping Natural Grocers to execute on its founding principles while achieving record financial performance and enhancing shareholder value,” says Kemper Isely, chairman and …

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