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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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Newsretailersstore closings

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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NewsProduct Spotlightretailerssecurity/loss preventionsoftware/technologyvendors

Walgreens Optimizes Store Operations with Zebra’s Workcloud Software

by Katie Lee

Lincolnshire, Ill. — Zebra Technologies Corporation, a leading digital solution provider enabling businesses to intelligently connect data, assets and people, has been chosen by the Walgreens Boots Alliance to optimize its operations with Zebra Workcloud Actionable Intelligence software, in order to save millions of dollars by enhancing operational compliance and the company’s ability to identify and combat shrink. Walgreens, a Chicago-based international pharmacy retailer, selected Zebra’s Modern Store framework to improve asset protection, better equip employees with technology, and optimize operational visibility in its network of 8,000 locations across 50 …

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green newsNewsretailerswaste management/recycling

Petco Releases 2023 ESG Report, Announces Large-Scale Recycling Program

by Katie Lee

San Diego — Petco Health and Wellness Company, Inc. has released its 2023 Environmental, Social and Governance (ESG) report, detailing progress on its mission to improve the lives of pets, pet parents and its own employees — including the launch of a new large-scale LDPE plastic recycling program.  “Our commitment to making a positive impact on the lives of pets, people and the planet we all share is pivotal to our mission as a purpose-driven pet retailer,” says Benjamin Thiele-Long, chief ESG and communications officer. “By making meaningful progress on …

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