Content about Wall Street Journal

March 28, 2014

Saddled with high levels of debt and sluggish sales, Brookstone Inc. is preparing to file for bankruptcy protection, with a plan already in place to be bought by specialty retailer Spencer Spirit Holdings Inc.

New York -- Saddled with high levels of debt and sluggish sales, Brookstone Inc. is preparing to file for bankruptcy protection, with a plan already in place to be bought by specialty retailer Spencer Spirit Holdings Inc.

March 20, 2014

Burger King Worldwide Inc. is reportedly planning to introduce a mobile payment app.

Miami – Burger King Worldwide Inc. is reportedly planning to introduce a mobile payment app. According to the Wall Street Journal, Burger King will launch the smartphone app in select markets starting in April 2014 and will offer it in all 7,000 U.S. stores within a few months of initial rollout.

March 7, 2014

Abercrombie & Fitch is reportedly planning to rebrand its Hollister banner as a fast-fashion retailer.

New Albany, Ohio – Abercrombie & Fitch is reportedly planning to rebrand its Hollister banner as a fast-fashion retailer. According to the Wall Street Journal, this would entail lowering the prices of merchandise and creating a nimbler, U.S.-based supply chain.

March 6, 2014

Private-equity firm Cerberus Capital Management has reached a preliminary agreement to buy Safeway Inc. for over $9 million, the Wall Street Journal reported.

New York -- Private-equity firm Cerberus Capital Management has reached a preliminary agreement to buy Safeway Inc. for over $9 million, the Wall Street Journal reported. The deal is subject to board approval.

As part of the deal, Cerberus would pay roughly $40 a share for Safeway.

The Kroger Co., which recently completed its acquisition of Harris Teeter, reportedly was also interested in making a bid for Safeway. Even if a deal is announced between Cerberus and Safeway, Kroger could still mount a bid.

February 21, 2014

J. Jill is reportedly in the process of hiring bankers to assist in a possible sale of the company.

Quincy, Mass. – J. Jill is reportedly in the process of hiring bankers to assist in a possible sale of the company. According to the Wall Street Journal, sources indicate that co-owners Golden Gate Capital and Arcapita Bank could receive as much as $500 million in a sale of the specialty chain.

February 11, 2014

Toward the end of January, the Wall Street Journal reported that Wal-Mart has given itself two years to match the online service and delivery speed of Amazon.com.

Toward the end of January, the Wall Street Journal reported that Wal-Mart has given itself two years to match the online service and delivery speed of Amazon.com.

In an interview at the World Economic forum in Davos, Switzerland, Neil Ashe, Wal-Mart’s global e-commerce CEO told Journal reporter Dennis Berman was building new warehouses across the country dedicated to handling online orders.

February 4, 2014

RadioShack Corp. will close about 500 stores within months as part of its ongoing restructuring, the Wall Street Journal reported.

New York -- RadioShack Corp. will close about 500 stores within months as part of its ongoing restructuring, the Wall Street Journal reported on Tuesday. The retailer, which is due to report results for the fourth quarter later this month, has about 4,500 locations.

January 20, 2014

Amazon.com has reportedly obtained a patent for “anticipatory shipping,” or a logistics technique using customer behavior and history to prepare items for shipping before they are actually ordered.

Seattle – Amazon.com has reportedly obtained a patent for “anticipatory shipping,” or a logistics technique using customer behavior and history to prepare items for shipping before they are actually ordered. According to the Wall Street Journal, Amazon received the patent in December 2013.

January 2, 2014

Coupons.com is reportedly going to acquire Yub, a provider of mobile rewards and offers that customers redeem at brick-and-mortar stores. According to the Wall Street Journal, Coupons.com will pay $30 million for Yub, and is also considering an IPO.

Mountain View, Calif. — Coupons.com is reportedly going to acquire Yub, a provider of mobile rewards and offers that customers redeem at brick-and-mortar stores. According to the Wall Street Journal, Coupons.com will pay $30 million for Yub, and is also considering an IPO.

December 12, 2013

The Home Depot reportedly plans to invest $300 million on technology and supply chain upgrades during its fiscal year 2014, which begins in February 2014.

Atlanta – The Home Depot reportedly plans to invest $300 million on technology and supply chain upgrades during its fiscal year 2014, which begins in February 2014. According to the Wall Street Journal, the results will include three new fulfillment centers in California, Atlanta, and Ohio by 2016, as well as same-day shipping for some online orders.

December 9, 2013

Amazon.com is reportedly using robots from Kiva Systems at three distribution centers. According to the Wall Street Journal, the robots bring merchandise from shelves to warehouse workers and can potentially reduce the cost of filling an order by 20% to 40%, for an annual savings of more than $900 million.

Seattle – Amazon.com is reportedly using robots from Kiva Systems at three distribution centers. According to the Wall Street Journal, the robots bring merchandise from shelves to warehouse workers and can potentially reduce the cost of filling an order by 20% to 40%, for an annual savings of more than $900 million.

Amazon purchased Kiva for $775 million in March 2012 and according to a recent financial disclosure now has 1,400 Kiva robots in service helping fulfill orders. The retailer declined to comment on the project.

 

October 9, 2013

A report by Wall Street Journal revealed that private equity investor Tower Three Partners will sell its final 3.9 million shares in Restoration Hardware Holdings, marking an exit for the buyout firms that acquired the home furnishings retailer in 2008.

New York -- A report by Wall Street Journal revealed that private equity investor Tower Three Partners will sell its final 3.9 million shares in Restoration Hardware Holdings, marking an exit for the buyout firms that acquired the home furnishings retailer in 2008.

Restoration Hardware’s private-equity backers have been cashing out amid a 90% rally in the stock this year, according to the report.

October 9, 2013

A report by Wall Street Journal revealed that private equity investor Tower Three Partners will sell its final 3.9 million shares in Restoration Hardware Holdings, marking an exit for the buyout firms that acquired the home furnishings retailer in 2008.

New York -- A report by Wall Street Journal revealed that private equity investor Tower Three Partners will sell its final 3.9 million shares in Restoration Hardware Holdings, marking an exit for the buyout firms that acquired the home furnishings retailer in 2008.

Restoration Hardware’s private-equity backers have been cashing out amid a 90% rally in the stock this year, according to the report.

June 10, 2013

Hordes of spend-happy young Mexican shoppers are successfully attracting specialty apparel retailers from the U.S. and Europe – and, as mentioned in a recent report by Wall Street Journal, Walmart is feeling the pain.

Hordes of spend-happy young Mexican shoppers are successfully attracting specialty apparel retailers from the U.S. and Europe – and, as mentioned in a recent report by Wall Street Journal, Walmart is feeling the pain.

June 10, 2013

Hordes of spend-happy young Mexican shoppers are successfully attracting specialty apparel retailers from the U.S. and Europe – and, as mentioned in a recent report by Wall Street Journal, Walmart is feeling the pain.

Hordes of spend-happy young Mexican shoppers are successfully attracting specialty apparel retailers from the U.S. and Europe – and, as mentioned in a recent report by Wall Street Journal, Walmart is feeling the pain.

April 23, 2013
J.C. Penney has been working with consulting firm AlixPartners, which specializes in turnarounds, for about a month, the Wall Street Journal reported.

New York -- J.C. Penney has been working with consulting firm AlixPartners, which specializes in turnarounds, for about a month, the Wall Street Journal reported.

Executives at AlixPartners are focused on cash flow management and finding ways for Penney to save money, according to the report.

April 12, 2013

J.C. Penney Co. has hired the Blackstone Group explore how best to position the firm financially and help it raise cash, the Wall Street Journal reported.

New York -- J.C. Penney Co. has hired the Blackstone Group explore how best to position the firm financially and help it raise cash, the Wall Street Journal reported.

The company is reportedly seeking $1 billion in cash, according to the Wall Street Journal, which added that options could include selling a minority stake. Penney already has been in contact with several private equity firms about a potential investment, according to the report.  

April 12, 2013

A report by the Wall Street Journal said that hedge fund Barington Capital Group is pressing Jones Group Inc. to slim down by divesting parts of its portfolio.

New York -- A report by the Wall Street Journal on Friday said that hedge fund Barington Capital Group is pressing Jones Group Inc. to slim down by divesting parts of its portfolio.

Citing an unidentified source, WSJ said that Barington – in a meeting earlier this month – urged Jones to hire financial advisers to analyze many of the company’s 35-plus to pare down the portfolio and focus on its core and emerging brands.

February 28, 2013

Wal-Mart Stores on Thursday confirmed a report from the Wall Street Journal that its U.S. chief administrative officer, Tom Mars, will step down in March.

New York -- Wal-Mart Stores on Thursday confirmed a report from the Wall Street Journal that its U.S. chief administrative officer, Tom Mars, will step down in March. The company did not give a reason for his departure.

February 19, 2013

Office Depot and OfficeMax are in talks to merge, according to reports by the Wall Street Journal and Bloomberg.

New York -- Office Depot and OfficeMax are in talks to merge, according to reports by the Wall Street Journal and Bloomberg.

The retailers are discussing as potential stock swap that would result in a single company with nearly $18 billion in revenue, reports said. The combined company would be better positioned to take on Staples, Walmart and other competitors.

February 12, 2013

A report by the Wall Street Journal said that Harris Teeter Supermarkets is considering putting itself up for sale.

New York -- A Tuesday report by the Wall Street Journal said that Harris Teeter Supermarkets is considering putting itself up for sale.

Citing unnamed sources, WSJ reported that the grocer is working with J.P. Morgan Chase & Co. to pursue strategic options.

No one from Harris Teeter has commented yet.

 

January 28, 2013

Barnes & Noble is planning to shutter approximately one-third of its stores during the next 10 years, CEO Mitchell Klipper said in an interview with the Wall Street Journal.

New York -- Barnes & Noble is planning to shutter approximately one-third of its stores during the next 10 years, CEO Mitchell Klipper said in an interview with the Wall Street Journal. As of Jan. 23, the company operated 689 stores. (The company also operates a separate division of 674 college book stores.)

“In 10 years we'll have 450 to 500 stores,” said Klipper in the interview, who noted that, even with the reduced store count, “it’s a good business model.”

January 4, 2013

Private equity firm Cerberus Capital Management LP and its partners are nearing an agreement to buy parts of Supervalu Inc., the Wall Street Journal reported.

New York -- Private equity firm Cerberus Capital Management LP and its partners are nearing an agreement to buy parts of Supervalu Inc., the Wall Street Journal reported.

Cerberus and its partners plan to buy some assets of the retail chain and take a stake in the remainder, which is expected to remain public, according to the report.

 

January 2, 2013

Two directors of Best Buy Co. have resigned from the board of the retailer, the company disclosed in a regulatory filing Monday, the Wall Street Journal reported.

New York -- Two directors of Best Buy Co. have resigned from the board of the retailer, the company disclosed in a regulatory filing Monday, the Wall Street Journal reported.

G. "Mike" Mikan, who served as Best Buy's interim CEO in the wake of CEO Brian Dunn’s resignation last April, has left the board to become president of ESL Investments Inc., the hedge fund run by Sears’ Edward Lampert. Mikan, whose appointment is effective Jan. 1, will report to Lampert, the firm said today in a statement.

November 27, 2012

A Tuesday report by the Wall Street Journal said that activist hedge fund Starboard Value has added former Home Depot and Chrysler executive Robert Nardelli and ex-Staples vice chairman Joseph Vassalluzzo as advisors – part of Starboard’s plan to make sweeping changes at Office Depot Inc.

New York -- A Tuesday report by the Wall Street Journal said that activist hedge fund Starboard Value has added former Home Depot and Chrysler executive Robert Nardelli and ex-Staples vice chairman Joseph Vassalluzzo as advisors – part of Starboard’s plan to make sweeping changes at Office Depot Inc.

According to a Monday filing, Nardelli and Vassalluzzo will provide counsel toward improving Office Depot’s operations and strategies.