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Microsoft signs a huge deal with Walgreens at CNBC. “Walgreens is signing up more than 380,000 employees for its Microsoft 365 cloud apps offering, including Office 365, Windows 10, and mobility and security tools. The company will move most of its information technology workloads to Microsoft’s Azure public cloud.” Video/Read more Walmart CTO […]
Gymboree expected to file for bankruptcy, with plans to close all 900 of its stores at MarketWatch. “While Gymboree is expected to liquidate, the fate of Janie and Jack stores is still up in the air, one of the people said.” Read more Kroger CEO Says Shoppers Wary About Future by Jordyn Holman […]
SURGE – Target reports holiday same-store sales growth of 5.7%, maintains 2018 outlook at CNBC. “That’s compared with growth of 3.4 percent a year ago…digital sales were up 29 percent during the holidays…It said the amount of online orders fulfilled through either in-store pick up or a curbside pick up services was up 60 […]
Court gives Sears new life, allows Chairman Eddie Lampert another chance to save retailer at CNBC. “Lampert’s hedge fund, ESL Investments, will now be required to pay a $120 million deposit by 4:00 p.m. Wednesday. Sears will then allow Lampert to participate in a previously scheduled auction on Monday.” Read more JCPenney comp […]
Sears to ask bankruptcy judge to liquidate at Reuters. “Sears…may have to close hundreds of stores it is still operating…the sources said. Its vast inventories of tools, appliances and store fixtures will be sold in fire sales, the sources added.” Read more …“We are down, but not out” Sears, via its official Twitter […]
Starboard buys stake in Dollar Tree, seeks sale of Family Dollar at CNBC. “Starboard, which has taken a 1.7 percent stake worth about $370 million in the retailer, is seeking majority control of the board and is also pushing for Dollar Tree to tweak its pricing model, the paper reported, citing sources.” Read more | […]
Rite Aid warned of risk of delisting from NYSE as shares fall below $1 at CNBC. “Shares of the drugstore chain have fallen 64 percent over the past year, down to 75 cents a share as of Thursday’s close from $2.11 on Jan. 3, 2018.” Read more Hudson’s Bay Co. closer to going […]
Blake Nordstrom, co-president of Nordstrom, dies at 58 by Kurt Schlosser at GeekWire. “His passing comes less than a month after he disclosed that he had been diagnosed with lymphoma…Executive leadership of Nordstrom will continue under company co-presidents Pete and Erik Nordstrom, the retailer said.” Read more After 104 years, Lord & Taylor’s […]