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Mall Brand Merger: JCPenney Unites With Forever 21, Aeropostale, Brooks Brothers Operator
JCPenney is merging with a company that owns several other retailers that have also struggled as malls have declined in popularity across the U.S.
The 123-year-old department store chain and SPARC Group have combined to form Catalyst Brands, the new company said in a news release on Wednesday, Jan. 8. SPARC Group is the operator of stores including Aéropostale, Brooks Brothers, Eddie Bauer, Forever 21, Lucky Brand, and Nautica.
Former JCPenney CEO Marc Rosen will become the CEO of Catalyst Brands, which boasts more than $9 billion of revenue and about 60,000 employees at …
Party City Going Out Of Business, Closing All 800 Stores
The party is over for a popular chain store that's been in business for decades.
Party City is “winding down” operations immediately at its approximately 800 locations, CEO Barry Litwin told corporate employees in a video call on Friday, Dec. 20, CNN reports.
Workers were told they will not receive severance pay, and that their benefits would end as the company goes out of business, CNN says.
The company, headquartered in in Woodcliff Lake, New Jersey, is running low on cash and unable to pay rent in some locations, according to an earlier Bloomberg report.
Party City was foun…
Shake Shack Offers Free Burgers With Purchase During Holiday Promotion
Shake Shack is launching a limited-time promotion offering free burgers with a qualifying purchase during the holiday season.
The “Holiday Burger Blitz” will run from Monday, Dec. 16, to Tuesday, Dec. 24, providing customers with a free burger each day when they spend a minimum of $10 and use the code BURGERBLITZ at checkout.
The promotion features a different burger each day, including popular items like the ShackBurger, SmokeShack, and Avocado Bacon Burger. The schedule for the free offerings is as follows:
Monday, Dec. 16: ShackBurger
Tuesday, Dec. 17: SmokeShack
Wednesday, Dec. …
Smile, You're On Body Camera: TJ Maxx To Equip Employees To Fight Shoplifting
To fight the recent rise in shoplifting and retail theft, shoppers could see store security employees wearing body-worn cameras to help catch thieves red-handed.
TJX, the parent company of TJ Maxx, Marshalls, Serria, HomeSense, and HomeGoods, said will begin equipping some employees with body-worn cameras similar to those worn by police, the Boston Globe reported. The company started testing the initiative last year.
The company operates nearly 3,400 stores nationwide.
A call to the Framingham, Massachusetts, headquarters of TJX for comment was not immediately r…
