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TJX Completes Acquisition of Australian Off-Price Retailer Trade Secret

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Framingham, MA—The TJX Companies investment in expanding oversees just took a turn toward Oz. The off-price retailer said today that it has completed its acquisition of Trade Secret, an off-price retailer that operates 35 stores in Australia, from Gazal Corporation Limited for a purchase price of $80 million Australian (subject …

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Walmart U.S. Appoints Steve Bratspies to Chief Merchandising Officer

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Bentonville, AR—In the latest move by a major retailer to shift its merchandise mix, Walmart U.S. announced the appointment of Steve Bratspies to chief merchandising officer for U.S. stores, effective Oct. 19. Bratspies will oversee all merchandise categories across more than 4,500 stores in the U.S. business. He will continue …

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As Expected, American Apparel Files Bankruptcy, Reorganization Plans

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Los Angeles—It appeared inevitable: after failing to make a profit or turnaround sales and operations since 2009, American Apparel Inc. filed today for Chapter 11 bankruptcy protection and revealed a reorganization plan that would keep its retail and made-in-USA manufacturing facilities open. Under the agreement reached with its most secured …

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Target’s Price-Matching to Lure More Millennial Shoppers?

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Industry Experts

Minneapolis—Target unveiled a new price-matching policy today, which includes price-matching both online and in-store. It’s all part of Target’s greater initiative to compete with the convenience and price advantages offered by competitors Amazon and Walmart both of whom are included in Target’s new price-matching, which is set to launch on …

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HBC Plans North American Operations to Accelerate Performance, Drive Future Growth

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Toronto and New York–Hudson’s Bay Company today announced a series of actions to position the department store ccompany to deliver an enhanced all-channel customer experience, accelerate financial performance and drive future success. Reflecting the HBC’s substantial growth and strong performance since the 2013 acquisition of Saks Incorporated, the initiatives are …

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Macy’s Announces Plans for 35 to 40 Store Closings

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Cincinnati—Although specifying that soon-to-be closed Macy’s stores represent only 1% of the department store company’s total, Macy’s Inc. today announced plans to close 35 to 40 in early 2016 as the company works to “optimize its omnichannel approach to customers across America.” Repercussions of Omnichannel “Physical stores remain absolutely vital …