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Mall Brand Merger: JCPenney Unites With Forever 21, Aeropostale, Brooks Brothers Operator Mall Brand Merger: JCPenney Unites With Forever 21, Aeropostale, Brooks Brothers Operator
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 …

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by Chris Spiker
Business
Amazon Plans To Open Department Stores, But Not For Reason You Think, Report Says Amazon Plans To Open Department Stores, But Not For Reason You Think, Report Says
Amazon Plans To Open Department Stores, But Not For Reason You Think, Report Says After crushing brick-and-mortar retailers across the country, Amazon is now reportedly taking its shot at the department store game. The online retail giant, which currently manages a handful of small Amazon-branded stores, is looking to expand its offline shopping options is thinking bigger, with department store plans reportedly in the works. According to the Wall Street Journal, Amazon is looking to open locations smaller than traditional department stores, following the playbook set forth by Aldi and Trader Joe’s, with a heavy emphasis on private-label goods from Amazon. If the plan co…

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by Zak Failla
Business
'Massive, Extended' Marriott Breach Affects 500 Million Starwood Guests 'Massive, Extended' Marriott Breach Affects 500 Million Starwood Guests
'Massive, Extended' Marriott Breach Affects 500 Million Starwood Guests In one of the largest breaches of consumer data ever, up to 500 million guests' information may have been accessed as part of a breach of its Starwood guest reservation database, Marriott International announced on Friday morning. Following a three-month investigation, the company discovered there had been unauthorized access since 2014 and that an "unauthorized party" had copied and encrypted information. "The company has not finished identifying duplicate information in the database, but believes it contains information on up to approximately 500 million guests who made a r…

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by Joe Lombardi