In today’s top retail news, Donna James is expected to chair the board of a standalone Victoria’s Secret, while Ace Hardware announced that its “Ace Rewards Day” is returning. Plus, the Honest Company reported rising first-quarter sales.
Donna James is anticipated to chair the board of a standalone Victoria’s Secret, which is poised to be separated from L Brands and become its own publicly traded company. James works as the managing director of Lardon & Associates LLC, which she created in the mid-2000s after her retirement from Nationwide Mutual Insurance Company and Nationwide Financial Services.
Ace Hardware announced that its “Ace Rewards Day” is coming back for the third consecutive year. The two-day event offers digital promotions and bonus offers for those who belong to Ace Rewards that are only accessible by the way of the hardware retailer’s website. Aside from Ace, Kohl’s intends to host a “WOW Deals” event that will highlight “epic savings” on different items.
Honest Company reported that its first-quarter sales climbed 12 percent to $81 million for the three months concluding on March 31, yet a 30 percent jump in expenses saw it record a $4.5 million loss in contrast to a small profit a year prior. Honest has been a publicly traded for a month, and the firm has been in operation since 2012 when it was established by Jessica Alba.
When most people hear the word marketplace, they immediately think of Amazon — it’s been in the game as of the year 2000. However, marketplace in recent times have been emerging in an increasing number of retail verticals as other retailers are seeking to profit from the innovation that, done right, can bring more shoppers ready to convert into their orbit with a broader collection of merchandise on offer.