GlassesUSA.com’s Post

MACY'S FACES PROXY FIGHT AS ARKHOUSE PUSHES FOR BOARD SEATS The Business of Fashion: Macy’s said on Tuesday that investor Arkhouse Management has nominated nine individuals to its board, setting off a proxy battle just a month after the department store rejected a $5.8 billion go-private bid. The company had rejected the offer from Arkhouse and Brigade Capital on concerns over valuation, while it continues discussions for more information on deal financing. The push for board seats comes as the Bloomingdale’s parent struggles with weak demand as customers cut back spending due to elevated inflation and high borrowing costs. But the company beat market expectations for quarterly results in November on efforts to trim inventory and strong demand for its beauty products. “Arkhouse and Brigade have yet to provide any financing details ... of their proposal despite multiple opportunities to do so and instead ... Arkhouse has chosen to launch a proxy contest,” Macy’s said. Arkhouse and Brigade Capital did not immediately respond to Reuters queries on their latest move and on how much stake they own in Macy’s. The company, famous for its annual Thanksgiving Day parade, said it would evaluate Arkhouse’s director candidate and that it was committed to “long-term value creation”. Shares of the New York-based company, which is yet to decide on a date for its 2024 annual meeting, were down 0.3 percent in premarket trading. https://lnkd.in/gTQyFVMF #metaverse #web3 #fashion #investment

Rumors: Saks Fifth Avenue could be in talk with Neiman Marcus Group for a takeover. In this regards Saks’ flagship location in Manhattan (valued at 3.62Bn USD) could serve as a collateral to raise financial resources. Neiman CEO Geoffroy van Raemdonck firmly rejected such possibility: "no need” to sell the business. Both firms are leading retailers in United States for jewellery and luxury goods. #jewelry #jewellery #luxury https://lnkd.in/dP46VnM3

2 years ago I officially launched Retrale in August 2022. I had 4 months runway and my fiancé was finishing her full-time degree in Birmingham. The pressure was on for me to make this work. The timing and situation were less than ideal. There were days that I did not want to get up and face, but you press on. One of the core principles of Retrale (and a core principle that's got me through life so far), is and always will be, resilience. To me, resilience no longer has the sole meaning of "mental perseverance against all odds", but a wider meaning too. It's also about having a resilient & robust business that can get you through tough markets and down spells. Over the next year, my goal is to keep building a business that continues to adapt and be resilient to change whilst also maintaining my own dogged, gritty & resilient drive. I've broken down exactly what that means to me with KPIs & financially. More than that, I've broken down what that means for me mentally, triggers when I might want to take an evening off, when I should take time to meet with friends and old colleagues and come away from the climb. Don't get me wrong, if I need to work till 23:00 then I'm working till 23:00 and getting the job done, but I'll do it with greater awareness of the impact of doing so. Looking forward to the next year of seeing where the business goes.

Downward DOCS: Sales of Dr. Martens Are Slipping. Trading in iconic British #bootmaker Dr Martenshad to be temporarily halted yesterday (Tuesday), with shares slipping ~30% after the company tempered its #sales outlook for 2025 and announced that Ije Nwokorie, an ex-Apple senior director, would take the helm in an effort to reboot the company’s slumping fortunes. The sole issue for #DOCS isn’t hard to diagnose: they just aren’t selling enough #shoes. Sales were down 12% in the latest quarter, with US #revenues sliding 31% YoY after a rough winter for the brand as fewer shoppers picked up the chunky-soled leather #boots over the all-important Christmas period. Activist investors, presumably unhappy with the stock’s ~85% drop since its early 2021 peak, have also been urging the company to undertake a strategic review. Designed by a pair of German doctors and perfected by a family-run British shoemaker, Docs had humble beginnings as practical work boots that sold for £2 (~$5) a pair in 1960. Just over a decade later, however, the boots had worked their way into British subcultures like the ska and punk movements and soon stomped their way to cultural icon status. Collaborations with everyone from #WarnerBros and hypebeast brand Supreme to Jean-Michel Basquiat have helped the brand stay relevant. But, the company is now also battling competition from sprawling value sites like #Temu, which DOCS has accused of infringing on its trademarks by manipulating #Google searches to make lookalike items appear above its results. [email protected] 818-914-9271 #tradecreditinsurance

A week is a long time in restructuring and insolvency. A week ago I posted, following news that a notice of intention to appoint administrators had been filed by Carpetright. That post ended with my interest to see whether Tapi Carpets & Floors might be interested in consolidating the family flooring empire. Today that speculation comes to an end. A deal in the Carpetright administration has been announced, saving 308 jobs and 54 stores, with those stores being acquired by Tapi Carpets & Floors with staff moving over with them. That news will be a huge relief for those whose positions have been secured, and kudos goes to Zelf Hussain and the team at PwC, as well as the team at Tapi Carpets & Floors, who I expect will have been working flat out to get this deal done. My thoughts go out to the1,018 people who have lost jobs in Carpetright's Purfleet head office and remaining 218 stores across the UK. That figure is likely slightly lower than would otherwise be the case (based on the 1,800 jobs at risk reported a week ago) due to employees having left following the news of the notice of intention to appoint having being filed. I hope affected employees are able to secure alternative employment swiftly. It's good to see the following message, which is currently shown on the Carpetright's website: "Employees: To support those employees facing redundancy as a result of the administration process, in the 48 hours before the administration happened, Tapi has funded a service through Clarity Recruiting, that will offer FREE employment workshops covering CV preparation, interview skills and job search strategies. We have also contacted as many retailers as possible to help introduce affected Carpetright staff to new roles. We've asked these retailers to prioritise their application, helping them return to work as quickly as possible. Full details have been shared directly with those affected." https://lnkd.in/eDwtrxpd https://lnkd.in/e2qsxWH3 #restructuring #turnaround #insolvency #carpetright #LinkedInfluencers #LawyersofLinkedIn

Yes, we are seeing this right now: buyers are looking at the numbers very differently than the sellers are in some deals. Some sellers are still partying like it's 2022. 🤩 🕺 🥂 But buyers are forecasting like it's 2024 (and an election year). 🧐 "To keep the market healthy and active, sellers should not have irrational expectations for what their store is worth, or be prepared to stay in the business. Fair dealership valuations are the only path to keep the robust buy-sell market moving." This is the conclusion of AN's editorial regarding the impact of sustained high multiples on Lithia's acquisition strategy. If you're thinking of selling: a) get a realistic valuation from an expert who knows the current market b) decide how quickly you want/need to sell c) set your asking price according to a) + b). If you want to have a free, no-obligation consultation with one of our regional experts, reach out today. We're happy to talk you through your options. (Read the editorial here, subscription required: https://lnkd.in/gV7VMJve)

We are delighted to launch Chancel Close IE, Gloucester on behalf of Telereal Trillium. The salient details for Chancel Close are as follows: * The property comprises a 13 unit estate occupied by 11 tenants. * Let to a diverse mix of longstanding tenants. * Prominently situated on Eastern Avenue, Gloucester’s most established trade counter and out of town retail location. * Located opposite Halfords and in close proximity to B&M, The Range, Toolstation, McDonalds and Starbucks as well as other retail and trade occupiers. * The property is immediately adjacent to the new Costco site. * Rent of £696,381 per annum reflecting an average rent of £6.68 per sq ft. * Recent letting of Unit C at £7.73 per sq ft demonstrates imbedded reversion. * WAULT of 7 years to lease expiry and 3.3 years to breaks. * Freehold. * ERV of £870,727 per annum, reflecting a reversionary yield of 8.75%. * 77% of the units have been refurbished in the last few years including metal over roofs. * Immediate asset management opportunity to refurbish and re-let the most prominent unit on the estate - Unit A. We are instructed to seek offers in excess of £9,325,000, subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 7% and a reversionary yield of 8.75% (assuming purchaser’s costs of 6.69%) and a low capital value of £89 per sq ft. Please let me, Tom or Hannah know if you have any questions or require further information.

It's great to see more businesses growing as the green shoots appear on our economic landscape. If you're business is experiencing growth and you want to talk about industrial sales or leasing, then get in touch. I love a good yarn. #leased #colliers #industrialproperty #yarns Sam Staite Oliver Salt Christian Kellar Jackson Murray Elliot Clayton Harry Peeters

Good Morning Monday Management solution for TASK 282- Their success story-Grandeur’s business plan reflects on their capabilities and execution perfection to their goals. Grandeur’s promoters initially planned that they would need $ 2,25,000 to start with, in which their investment would be $1,71,000, short term loans $ 30,000 and rest as long-term loans. To attain their break even in second year their sales revenue should be $ 1million in the first year, $ 1.3 million second year and $1.5 million in the Third year. To do this the company's long-term goals are to achieve a 20% market share in the U.S, build brand image and brand equity through marketing, achieve a sustainable 55% profit margin, and eventually produce luxury watches in addition to the initial moderately-priced line. Its Production takes place in Germany and sales and marketing are focused on the United States - California - for the short-term future. The watches will be initially sold in upscale watch stores in Los Angeles and San Francisco. https://lnkd.in/gaPBwrdi

The best businesses sell feelings, not products or services. Look at these incredibly profitable companies: - Louis Vuitton sells luxury, not clothing accessories - Apple sells exclusivity, not technology - BMW sells status, not cars Prospects hire you for one of two reasons: 1/ They want a goal they don't have. 2/They have a problem they don't want. Don't sell them the product/service they'll get. Sell them the feeling of what they'll get. ===================================================== Hi, I'm Rod! I work with BVFLS professionals who want to grow faster/smarter. And I share what needs to be said about building a practice. 👍 Did you like this post? ✅ Would you like to see more? 🔝 Connect with me. 🔔 And ring my notification bell. =====================================================