Traders on the floor of the New York Stock Exchange wore blue jeans and denim jackets to work Thursday to herald the return of Levi Strauss to the public markets. Shares opened at $17 on the first day of trading and rose 32%, driving the company's value to more than $8.5 billion by the end of the day.
L Brands, the parent of Victoria's Secret and Bath & Body Works, has brought in a search firm to identify potential candidates for three board seats, sources said. The move comes in advance of the company's annual meeting in May, amid a push by activist investor Barington Capital Group to add more diverse and independent directors.
Walmart's chief technology officer, Jeremy King, has been named head of engineering at Pinterest. The hire comes as the image-driven social site moves up the timetable for a planned initial public offering of stock, which is now set to happen next month, sources said.
Microsoft is offering a brief look at the company's new discless console, the Xbox One S All-Digital edition. The entirely digital console will offer a 1 terabyte hard disk drive and will come with three games: "Sea of Thieves," "Forza Horizon 3" and "Minecraft."
Three Whole Foods Market locations in California will join the state's energy demand management project, relying on Axiom Exergy's Refrigeration Battery to manage power use. In taking part, the stores will be eligible for financial incentives for reducing their consumption at peak times.
Amazon and Walmart were in a class by themselves among grocers when it comes to their understanding of grocery e-commerce, according to a study by Gartner L2. Marketing heft, social media and fulfillment capabilities helped put the two major merchants at "genius" level in the study.
The Missouri River's flooding along South Dakota, Missouri, Nebraska and Iowa is leading to significant infrastructure bottlenecks and creating delays across supply chains. With limited rerouting options, BNSF and Union Pacific are dealing with service interruptions.
J. Crew Group is expanding its casual sibling brand, Madewell, with four new stores that have already opened this year, including a location at Hudson Yards in New York City. Madewell is scheduled to open six more locations by next February, and one or more of the stores will highlight denim and menswear.
Shanghai Fashion Week starts March 27, with 426 brands from 28 countries including the US, Denmark, Italy and the UK. Western fashion brands are in growing demand in China, but designers are on a learning curve when it comes to tailoring their marketing messages for a Chinese audience, ForwardPMX executive Hannes Ben said.
Mondelez International has invested in Chicago-area food incubator The Hatchery to help boost innovation via its SnackFutures venture arm. "Working with The Hatchery, food entrepreneurs will help us push the boundaries of what is possible in snacking as we continue to build our ecosystem of partners while also giving back and offering guidance to new companies," says Mondelez's Tim Cofer.
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