Levi Strauss priced its shares at $17 as it prepared to start trading on the New York Stock Exchange today, resuming life as a publicly-traded company after going private in a 1985 leveraged buyout. The denim brand is valued at $6.6 billion, and the NYSE is allowing blue jeans on the trading floor for the first time in honor of Levi's IPO.
IKEA will open its first US IKEA Planning Studio in New York City on April 15, a smaller-format urban concept where shoppers will be able to browse products and place orders for home delivery. The Manhattan location, the borough's first IKEA store, will give shoppers the option of making consultation appointments with designers.
Pier 1 Imports will restructure its corporate staff in Fort Worth, Texas, eliminating about 20 positions as part of a push to become more agile, CEO Carol Bachelder said. As of last year, the retailer employed 870 people at the corporate office.
Epic Games reports that "Fortnite" is at nearly 250 million users, up from 200 million only four months ago. This is particularly promising as the company has been able to maintain steady growth despite the release of rival game "Apex Legends."
Target is testing a grab-and-go snack bar concept at multiple locations that features Pizza Hut items, salads and packaged snacks such as beef jerky, and allows customers to pay at a self-serve kiosk. "We are pleased with the guest response so far and are continuing to evaluate the concept," a Target spokesperson said.
General Mills' US cereal sales increased 4% during the most recent quarter, with new offerings such as Fruity Lucky Charms and Cinnamon Toast Crunch Churros helping drive growth. Other brands showing positive momentum were Old El Paso, Pillsbury, Larabar, Totino's and Epic Provisions.
Amazon is rolling out a private-label skin care line called Belei, which will feature such products as eye cream and moisturizers. "Our goal is to help customers spend less time and money searching for the right skincare solutions," said Amazon's Kara Trousdale.
Minnesota-based footwear brand Red Wing has opened its first Manhattan store, with plans to grow by 1,000 new locations through 2024. The brand, known for its work boots, operates 700 international stores.
Nine West has emerged from Chapter 11 bankruptcy reorganization after nearly a year with a new name and a plan to firm up partnerships for future growth. The newly named Premier Brands Group Holdings boasts brands including Anne Klein and Gloria Vanderbilt.
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