retailers

The Container Store Fills 5 Leadership Roles with Specialty Retail Experts

by Katie Lee June 2, 2021

Coppell, Texas — The Container Store, leading specialty retailer of storage and organization solutions and custom closets, has added five new company leaders to complement existing leadership. Four months into Satish Malhotra’s role as CEO, he has hired key leaders and added new roles: Dhritiman Saha (chief information officer), Michelle Gill (vice president of merchandising), Robert Higgins (vice president of real estate), LaTisha Brandon (senior director of diversity, equity and inclusion) and Ivet Taneva (senior director of environmental, social and governance). Saha comes from GameStop where he was the chief …

June 2, 2021

facilities management News retailers software/technology vendors

Tango Extends Partnership with Big Lots for Post-Pandemic Needs

by Katie Lee June 1, 2021

Dallas — Tango, the leader in Store Lifecycle Management (SLM) and Integrated Workplace Management System (IWMS) software solutions, has extended its partnership with Big Lots for 3 additional years. Big Lots, a national neighborhood discount retailer with 1,414 stores, is now a full lifecycle customer, utilizing all products in the Tango Retail suite including Predictive Analytics, Real Estate, Projects, Lease and Maintenance. “With the adoption of Tango Predictive Analytics, we now have a complete end-to-end solution to support our location and development strategy,” says Shannon Letts, senior vice president, real …

June 1, 2021

News people retailers

MARQUE Luxury Names National Business Development Director

by Katie Lee June 1, 2021

Irvine, Calif. — MARQUE Luxury, the industry’s leading provider of certified pre-owned goods, has named Sean Makovsky the national business development director, U.S. He is based in San Antonio, Texas, and will report directly to MARQUE’s leadership team at the company’s Irvine, Calif., headquarters. Makovsky was a supervisor for Money Mart Pawn and Jewelry and had been with the company since 2015. Money Mart Pawn and Jewelry currently operates in two states and has 28 stores in the Brittex brand family. “For 25 years, I’ve had the opportunity to work …

June 1, 2021

News retailers

HSBC Sells 90 Branches, Exits Mass-Market Retail Banking Sector

by Katie Lee May 28, 2021

New York City — HSBC Holdings has announced plans to exit its U.S. mass-market retail banking business through the sale of 90 of its 148 domestic branches. HSBC will retain 20 to 25 of its existing physical locations in the U.S., which will be repurposed into international wealth centers. These branches will focus exclusively on the banking and wealth management needs of high-net-worth clients. These centers will be located in cities such as New York, Washington, D.C., San Francisco, Seattle, Los Angeles and Miami, according to reports by The Wall …

May 28, 2021

franchise development News retailers

The Vitamin Shoppe to Begin Franchising for First Time in its History

by Katie Lee May 26, 2021

Secaucus, N.J. — The Vitamin Shoppe, an omni-channel specialty retailer of nutritional products, has launched an innovative franchising model for independent operators to open The Vitamin Shoppe stores in their own communities around the United States. This is the first time in its 44-year history that The Vitamin Shoppe will partner with business owners to operate franchise stores. Since launching in 1977, The Vitamin Shoppe has grown into the premier global destination for health and wellness solutions. The company continues to modernize its business with a digital-first mindset that meets …

May 26, 2021

News retailers

AutoNation Expands Footprint into New Market; Plans 5 New Stores this Year

by Katie Lee May 25, 2021

Fort Lauderdale, Fla. — AutoNation, Inc., America’s largest automotive retailer, has opened AutoNation USA San Antonio, the first in the San Antonio and market and first of five additional stores that the company will open this year. AutoNation USA offers a “1Price Pre-Owned” model that features low, haggle-free pricing and a customer-centric process that makes buying a pre-owned vehicle easy and allows customers to enjoy a peerless customer experience. Additionally, AutoNation offers “We’ll Buy Your Car,”: which enables customers to sell their vehicles directly to AutoNation, with no purchase necessary. …

May 25, 2021

News retailers

BJ’s Wholesale Club Plans to Open 6 New Clubs

by Katie Lee May 21, 2021

Westborough, Mass. — BJ’s Wholesale Club, a leading operator of membership warehouse clubs in the eastern U.S., is expanding its footprint by opening six new clubs this fiscal year. Its newest clubs will be located in Seabrook, N.H., Port Charlotte, Fla., Commack, N.Y., South Fayette, Pa., Ross Township, Pa., and Lansing, Mich. The locations in the greater Pittsburgh area and in Lansing, Mich., are both new markets for the retailer. “We’ve made great progress accelerating the pace of our new club openings in the last few years and we’re looking …

May 21, 2021

News retailers

Target Grows Q1 Comp Sales Nearly 23%

by Katie Lee May 20, 2021

Minneapolis — Target Corporation has released its first quarter 2021 financial results, which reflect robust growth in both sales and profitability. Highlights include: Q1 comp sales grew 22.9%, on top of 10.8% growth last year. Store comp sales increased 18%, on top of 0.9% growth last year. Digital comp sales grew 50%, on top of 141% growth a year ago. Same-day services (Order Pickup, Drive Up and Shipt) grew more than 90%, led by growth in Drive Up of 123%. More than 95% of Target’s Q1 sales were fulfilled by …

May 20, 2021

News retailers

L Brands to Spin Off Victoria’s Secret into Publicly Traded Company

by Katie Lee May 19, 2021

Columbus, Ohio — The board of directors for L Brands Inc. has unanimously approved a plan to separate the company into two independent, public companies consisting of Bath & Body Works and Victoria’s Secret. L Brands expects to create these companies through a tax-free spinoff of Victoria’s Secret to the shareholders of L Brands. “The spinoff will enable each company to maximize management focus and financial flexibility to thrive in an evolving retail environment and deliver profitable growth,” L Brands stated in a news release. As separate businesses, each will …

May 19, 2021

News people retailers

Bed Bath & Beyond Creates New Role of SVP Finance, Chief Accounting Officer

by Katie Lee May 18, 2021

Union, N.J. — Bed Bath & Beyond Inc. has named John Barresi as senior vice president of finance, chief accounting officer, effective June 7, 2021. He will report to Gustavo Arnal, executive vice president and CFO. In the newly created role, Barresi will lead a team responsible for the development and execution of all corporate accounting and financial reporting functions, including maintenance of fiscal records, management of transactional shared services, preparation of internal and external financial reports, SEC and other regulatory reporting, among other corporate accounting activities. The company has …

May 18, 2021

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