Thursday, April 26, 2018

Decelerating News

Michaels Companies will shut down 94 Aaron Brothers framing and art supplies stores, and make Aaron Brothers a store-within-a-store to provide custom framing in all Michaels stores. Michaels operates about 1,300 stores in the US and Canada…Mattress Firm closed 99 stores during the fourth quarter of 2017 and will close another 175 stores in 2018. The 274 closures is higher than the 200 closures Mattress Firm announced in December 2017... Nine West Holdings Inc. has filed for Chapter 11 bankruptcy protection, with a plan to sell its namesake and Bandolino brands to Authentic Brands Group. The company plans to revamp its capital structure around its profitable businesses, including Anne Klein, Kasper Group, The Jewelry Group and One Jeanswear Group. Authentic Brands is the owner and licensor of Frye, Jones New York, Juicy Couture, Greg Norman, and Frederick’s of Hollywood...The Kroger Co. has completed the sale of its convenience store business division to EG Group for $2.15 billion. The sale includes 762 convenience stores operating across 18 states under the Turkey Hill, Loaf ‘N Jug, Kwik Shop, Tom Thumb and Quik Stop banners. Kroger’s supermarket fuel centers and its Turkey Hill Dairy were not included in the sale.

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