Retail

Fiat Chrysler and Robert Bosch to pay NJ $5.3 million

Fiat Chrysler Automobiles and engineering firm Robert Bosch will pay New Jersey approximately $5.3 million as part of multi-state settlements alleging that both companies violated consumer and environmental protection laws, according to Attorney General Gurbir Grewal. The settlement with Fiat Chrysler resolves allegations that the carmaker equipped two model year 2014 to 2016 Fiat Chrysler ...

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Digital native brands find homes in physical stores (access required)

Lingerie company Adore Me sold its bras and corsets exclusively online from 2011 to 2016. The start-up was proud of its digital nativity, but a retail experiment in 2016 gave those at the helm an epiphany. The future of retail, they realized, isn’t just online. It’s omnichannel. “Since Adore Me was born, we’ve been very ...

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Destination Maternity taps two new executives

Destination Maternity Corp. has appointed Dave Helkey as chief financial officer and chief operating officer, and has appointed Doug Goeke as chief transformation officer. Both will report to chief executive officer Marla Ryan. Helkey’s new role will include overseeing the Moorestown retailer’s finance, accounting, IT, real estate, inventory management, sourcing, human resources, legal and warehouse/logistic ...

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Hudson Group names Fordyce CEO

Hudson Ltd., or Hudson Group, has announced Roger Fordyce’s appointment as chief executive officer effective Tuesday. Fordyce previously served as executive vice president and chief operating officer, and has been with Hudson for 30 years. He succeeds Joseph DiDomizio, who is leaving the company, in the role of CEO. DiDomizio will also leave Hudson’s Board ...

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Cannabis legalization expected to create robust ancillary market (access required)

2018 was a big year for cannabis in New Jersey. Short of legalizing the recreational market, which is projected by many to become reality in 2019, the medical program was expanded by nearly 20,000 people and six alternative treatment centers. And for the first time, a bill to create a legal adult use cannabis market made it out of committee and remains in the running toward possible legislation. What’s in store for 2019?

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Sears picks NJ-based liquidator should rescue talks fail

Sears Holdings Corp. has lined up a liquidator if the talks to rescue the bankrupt retailer fall through, Reuters reported Sunday. According to Reuters, Sears has lined up Closter-based Abacus Advisory Group LLC to sell the chain’s vast inventories of tools, appliances and store fixtures should negotiations with Chairman Edward Lampert over his $4.4 billion ...

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Newel Brands completes divestitures of Pure Fishing and Jostens

Newell Brands completed its divestitures of fishing materials company Pure Fishing and education materials provider Jostens to Sycamore Partners and Platinum Equity, respectively. Related: Newell Brands selling off two businesses for $2.5B Gross proceeds from the transactions were estimated at about $2.6 billion. Hoboken-based Newell Brands anticipates $2.5 billion of after-tax proceeds, subject to adjustments, ...

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