Retail

Mattress Firm Completes Sleep Train Purchase

Mattress Firm

HOUSTON-Mattress Firm (NASDAQ: MFRM) has closed on its acquisition of The Sleep Train, the West Coast-based specialty mattress retailer. The purchase price was $425 million, subject to working capital and other “customary adjustments,” along with the assumption of certain additional liabilities totaling about $15 million, according to a Mattress Firm statement. Sleep Train operates aboutMore »

Last updated: October 21, 2014

Powers Tabbed as Home Depot EVP, U.S. Stores

Marc Powers

ATLANTA-The Home Depot (NYSE: HD) has named Marc Powers executive vice president of U.S. stores, succeeding Marvin Ellison, who was named president and CEO-designee of J.C. Penney last week. Powers will assume his new role on Nov. 1, the same date on which Ellison will move to his new post. He will be responsible forMore »

Last updated: October 20, 2014

Family Dollar Shareholder Pushes for Dollar General

H09-FamilyDollar3_R1

NEW YORK-Elliott Advisors, a holder of 4.9 percent of Family Dollar’s (NYSE: FDO) outstanding shares, has opened the door for more consideration of the offer by Dollar General (NYSE: DG) to acquire its dollar-store rival. In a letter to the Family Dollar board signed by Mark Levine, senior portfolio manager for Elliott Advisors, the companyMore »

Last updated: October 20, 2014

Walmart Lowers Expectations; to Accelerate E-Commerce Investments

Doug McMillon

BENTONVILLE, Ark.-Walmart lowered its sales forecast, along with announcing an increase in its e-commerce efforts at an investor meeting yesterday. Blaming an overall tough economy, Walmart said that it expects annual sales to increase between 2-3 percent. Previously, Walmart had forecast 3-5 percent growth. Investments in e-commerce and digital initiatives are expected to range betweenMore »

Last updated: October 16, 2014

Shopko Expands Omnichannel Efforts

Shopko

GREEN BAY, Wis.–Shopko has expanded its omnichannel business to provide customers more access to product, including the ability to buy products online and ship them to its stores for free, the retailer said. The program now includes 310 locations across the U.S. “We are excited to launch this program since customers have been asking forMore »

Last updated: October 16, 2014

Sears Holdings’ Boire Named Acting President, CEO for Sears Canada

Ronald Boire

  HOFFMAN ESTATES, Ill.-Ronald D. Boire, executive vice president, chief merchandising officer and president for Sears and Kmart, has been named acting president and CEO for Sears Canada, effective today. “I have enjoyed working with Ron and appreciate the contributions he has made to support our transformation,” said Edward S. Lampert, Sears Holdings (NASDAQ: SHLD)More »

Last updated: October 15, 2014

Marvin Ellison to be J.C. Penney President/CEO

Marvin Ellison

PLANO, Texas–J.C. Penney has appointed Marvin Ellison, currently executive vice president of stores at Home Depot, as president and CEO-designee, effective Nov. 1. He will also join the Board of Directors at that time. Ellison will succeed Myron E. (Mike) Ullman, III, as CEO of J.C. Penney on Aug. 1, 2015. At that time, UllmanMore »

Last updated: October 13, 2014

High Point Market Authority Targets Retailers

Tom Conley

The High Point Market Authority has done its most extensive marketing ever to attract retailers to this month’s event. HPMA CEO Tom Conley said his organization has taken a three-tiered approach, for the first time, to drive retailers to the fall market. The HPMA is utilizing direct mail, e-mail and a two-pronged telemarketing effort toMore »

Last updated: October 13, 2014