Personnel Updates
• Ascena Retail Group Inc. has appointed Gary Muto to the newly created position of President and CEO of Ascena Brands. Brian Lynch has been promoted to President and COO of Ascena Retail Group Inc.
• Duluth Trading Company has appointed Dave Loretta as Senior VP and CFO. Loretta will succeed retiring CFO Mark DeOrio.
• JCPenney Company, Inc. has named Jeffrey Davis as its new VP and CFO.
• The Neiman Marcus Group announced plans to eliminate 225 corporate positions.
• Payless ShoeSource Inc. announced Paul Jones will retire as CEO. The company has named Martin R. Wade as Interim CEO.
• Topshop announced the appointment of Paul Price as its new CEO. He will join the company in September, taking over from Mary Homer.
Mergers and Acquisitions
• Aldo Group Inc. said it will acquire the Camuto Group. Both companies are family owned. The new company will operate two home offices.
• Camping World Holdings announced that it will purchase TheHouse.com, an online sporting goods retailer.
• Michael Kors Holdings Limited has agreed to acquire Jimmy Choo. The Jimmy Choo management team will remain in place, and Michael Kors plans to open new Jimmy Choo stores and expand its offerings.
Industry Insight
• American Eagle Outfitters Inc. announced it is closing its stores in the United Kingdom.
• Gildan Activewear Inc. announced it plans to relaunch the e-commerce website for American Apparel.
• Payless ShoeSource Inc. has emerged from bankruptcy with a smaller store count. The company has closed approximately 700 stores during the bankruptcy process.
• Sears Canada has begun going out of business sales at some of its locations. The sales can run no later than Oct. 12 with the deep discounts happening only at the 59 department and Sears Home stores that have been slated for closure.
• Skechers USA Inc. is planning to open 300 new stores in India over the next three to five years.
• The Timberland Company has opened a new concept store, called Timberland Tree Lab, which will be completely transformed with a new theme and new products every six weeks. The store is located at King of Prussia mall, King of Prussia, PA.
• Uniqlo plans to roll out 10 vending machines at airports and malls over the next two months in several key U.S. cities, including New York and Houston. The first unit recently opened in the Oakland International Airport.
• Sears Holdings announced it will partner with Amazon.com Inc. to sell its Kenmore-branded appliances. Sears will sync its full line of Kenmore Smart appliances with Amazon’s Alexa, allowing customers to control them with a voice command.
Real Estate
• Belk Inc. said it plans to open three new stores in GA, KY, and MD. Belk also plans to remodel 12 existing stores.
• Canada Goose Inc. announced plans to open additional new stores this fall, with locations in Boston, MA, and Calgary, AB.
• Dick’s Sporting Goods Inc. announced it will open two namesake stores and three Field & Stream stores this month in TX, AL, and GA.
• Fendi North America Inc. has opened a new 5,700 sq. ft. store in Manhattan, NY. The retailer also recently opened stores in the San Francisco, CA and Dallas, TX markets for the first time.
• Forty Five Ten has opened a new location in Napa County, CA. The 865 sq. ft. store will be the company’s fifth and its first outside of Texas.
Technology News
• JCPenney Company, Inc. now accepts Apple Pay at all of its stores nationwide, and plans to expand the service to allow customers with the JCPenney app to use Apple Pay to complete their mobile purchases.
• Louis Vuitton has debuted its new ecommerce website in China.
