retailers

Carvana Marks 10th Anniversary

by Katie Lee February 21, 2023

Phoenix — Carvana, an industry pioneer for buying and selling used cars online, is celebrating 10 years. Carvana’s iconic Car Vending Machine, which first debuted in Nashville in 2015, allows customers to save time by selecting a convenient time to pick up their new vehicle. Upon arrival, customers are greeted by a customer advocate and receive a commemorative, oversized Carvana coin to activate the automated vending process. Customers then get to watch their vehicle descend through the brightly lit vending structure from the heart of the all-glass tower — making …

February 21, 2023

Retail Resilience

by Katie Lee February 17, 2023

— By Chelsea Brady — 5 opportunities to help retailers build resilient supply chains throughout 2023. From high inflation to rapidly changing labor needs and hiring challenges, retail manufacturers and logistics providers continue to face multiple supply chain challenges with their organizations and there’s no determination of when these challenges will subside. However, there are certain opportunities retail manufacturers and logistics providers can take advantage of now to start to overcome these challenges and rebuild their resilient supply chains throughout 2023 and beyond: Opportunity 1: So Long, Standardization Let’s face …

February 17, 2023

News retailers

Showcase Opens 150th Store, Quadruples U.S. Store Count

by Katie Lee February 16, 2023

Batavia, N.Y. — Trendspotting retailer Showcase is expanding its brick-and-mortar presence. Showcase has completed the largest and fastest single expansion in its 29-year history, and opened the 150th trend store located in Huntington Station, N.Y. In just 6 months, Showcase opened 31 stores across 13 states in the U.S. Northeast, as well as unveiled a new 147,000-square-foot distribution center in Batavia, N.Y. Showcase is privately-owned and operates 109 stores in Canada and 41 in the United States. Founded in Edmonton, Alberta, in 1994, Showcase is an award-winning retailer, product developer …

February 16, 2023

News retailers

CVS Agrees to Acquire Oak Street Health in $10.6 Billion Deal

by Katie Lee February 15, 2023

Woonsocket, R.I., and Chicago — CVS Health has agreed to acquire Oak Street Health in an all-cash transaction at $39 per share, representing a total purchase price of roughly $10.6 billion. The price represents a premium of approximately 11.9% over Oak Street’s opening price per share this morning. Chicago-based Oak Street Health is a network of primary care centers for adults on Medicare. The company employs approximately 600 primary care providers and maintains 169 medical centers across 21 states. By 2026, Oak Street Health plans to grow to more than …

February 15, 2023

News retailers

Tuesday Morning Files for Chapter 11; Plans to Close Underperforming Stores

by Katie Lee February 14, 2023

Dallas — Tuesday Morning Corp., an off-price retailer of home goods and décor, is pursuing a financial and operational reorganization by filing voluntary petitions for protection under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division. Invictus Global Management, LLC (together with its affiliates, “Invictus”) will provide $51.5 million of debtor-in-possession (DIP) financing to support ongoing operations during the proceedings. “After considering how best to address Tuesday Morning’s exceedingly burdensome debt, we have determined that the best path …

February 14, 2023

News people retailers

Tractor Supply Extends Contract for President/CEO and Makes Board Succession Plans

by Katie Lee February 13, 2023

Brentwood, Tenn. — Tractor Supply Company, the largest rural lifestyle retailer in the United States, has extended the employment contract of its president and chief executive officer, Hal Lawton, as well as made key transitions on its board of directors. The board has elected long-standing member Edna Morris as chairman. She will succeed Cynthia Jamison, who is retiring, effective May 11, 2023. Additionally, Tom Kingsbury has resigned, effective February 6, 2023, as a member of the board in order to focus on his new role as CEO at Kohl’s Corporation. …

February 13, 2023

News people retailers

Kohl’s Names Chief Merchandising and Digital Officer

by Katie Lee February 9, 2023

Menomonee Falls, Wis. — Kohl’s has hired 25-year retail veteran Nick Jones as its new chief merchandising and digital officer, reporting directly to CEO Tom Kingsbury, effective in March. “We are very excited to have Nick join our team and lead our merchandising organization,” says Kingsbury. “During his career, Nick’s been the chief merchant for one of the UK’s biggest retailers, led multiple categories for department store Marks & Spencer, and was a key leader in the category and international expansion of the multibillion-dollar George brand.” Jones has more than …

February 9, 2023

News retailers signage vendors

Kwik Stop Taps Watchfire for Digital Signs at 27 Convenience Stores

by Katie Lee February 8, 2023

Danville, Ill. — Watchfire, a leading provider of exterior, interior and gas price LED displays for the convenience store industry, was selected by Kwik Stop to provide digital signs at 27 c-store locations in Nebraska and Colorado. To date, 23 locations have installed double-faced 4’x6’ 10mm outdoor digital signs and the remaining will be completed by summer. In addition, some locations have installed Watchfire’s Price WatcherTM gas price signs, which offer a bright fuel price display that can be changed efficiently and safely, day or night. The Watchfire displays replaced …

February 8, 2023

franchise development News retailers

The Vitamin Shoppe® Opens First New Franchise Location as Part of Expansion Strategy

by Katie Lee February 7, 2023

Secaucus, N.J. — The Vitamin Shoppe, an omnichannel specialty retailer of nutritional products, has opened its first-ever, new franchise location, located in Valparaiso, Ind. The store, which opened on February 2, marks a key milestone in an expanding franchise program, the first of its kind in The Vitamin Shoppe’s 46-year history, which will grow the brand into numerous new markets around the United States. To date, the company has signed 58 franchise territories to 15 franchise partners, with 12 or more stores planned to open in 2023, in addition to …

February 7, 2023

News people retailers

Kohl’s Appoints New CEO

by Katie Lee February 6, 2023

Menomonee Falls, Wis. — Kohl’s Corporation and its board of directors have unanimously appointed Tom Kingsbury as chief executive officer, effective February 2, 2023. Kingsbury has served as interim CEO since December 2, 2022. He will continue to serve on the company’s board. “Tom’s exceptional track record growing retail businesses and his deep knowledge of Kohl’s makes him the right choice for Kohl’s next CEO. Since joining the board, Tom has added valuable insight and perspective, and as interim CEO, he has demonstrated strong leadership and made a meaningful and …

February 6, 2023

Newer Posts

Older Posts