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Tag: million

Costco Contributes $25 Million To Black-Led Community Development

Costco is committing $25 million to an investment fund designed to empower black-led financial institutions and community development efforts. The Local Initiatives Support Corporation (LISC) rolled out the Black Economic Development Fund earlier in the summer and is encouraging companies to make investments designed to improve economic opportunity for Black Americans. The fund seeks to …

Costco Contributes $25 Million To Black-Led Community DevelopmentRead More

Brooks Brothers Receives $305 Million ‘Stalking Horse’ Bid

With its $305 million “stalking horse” bid, SPARC Group LLC (SPARC) has raised the possibility that Brooks Brothers will be able to emerge from bankruptcy with at least 125 of its brick-and-mortar stores remaining in operation. The retailer currently operates approximately 250 stores in North America and an equal number outside the U.S. and Canada, …

Brooks Brothers Receives $305 Million ‘Stalking Horse’ BidRead More

Wendy’s franchisee allegedly spent $1 million of PPP funding to finance home

Chip Somodevilla | Getty Images A former employee of Starboard Group, a large Wendy’s operator, alleges that the franchisee’s chief executive diverted $1 million in Paycheck Protection Program loans to finance his home in Montana. Sandi Adler, who was Starboard’s vice president of legal affairs and human resources, filed the complaint on June 30 under …

Wendy’s franchisee allegedly spent $1 million of PPP funding to finance homeRead More

Shake Shack says it lost $3.2 million in sales due to protests and curfews

Shake Shack, one of the many storefront businesses boarded in downtown Brooklyn over the fears of looting. Erik McGregor | Getty Images Shake Shack said Tuesday that it lost about $3.2 million in sales in June due to nationwide protests against racism and police violence and the resulting curfews. The company’s stock, which has a …

Shake Shack says it lost $3.2 million in sales due to protests and curfewsRead More

Lululemon to acquire at-home fitness company Mirror for $500 million

Lululemon is acquiring the in-home fitness company Mirror for $500 million, the retailer announced Monday, marking its first acquisition — a bet that more people are going to be pivoting to exercise at their homes.  Lululemon shares were up almost 4% in after-hours trading.  Following the closing of the deal, Mirror will run as a standalone …

Lululemon to acquire at-home fitness company Mirror for $500 millionRead More

3.5 million customers shop during the 12th edition of Myntra’s EORS

Myntra concluded the 12th edition of its EORS, with 10 million+ items sold, towards the end of the four day event that began on June 19. Shoppers across the country placed about 4 million orders, across multiple categories, of which, men’s jeans and streetwear, women’s western wear, women’s ethnic wear, men’s casuals and personal care, …

3.5 million customers shop during the 12th edition of Myntra’s EORSRead More

JC Penney says it skipped a $12 million interest payment

Pedestrians pass a JC Penney store in New York. Scott Mlyn | CNBC J.C. Penney said Wednesday that it has chosen not to make a roughly $12 million interest payment due on April 15, as the coronavirus pandemic takes a toll on its business. It is entering into a 30-day grace period “in order to evaluate …

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Restaurant industry takes up PM’s call to feed the poor; will serve 10 million meals during the lockdown

The National Restaurants Association of India (NRAI) has extended its wholehearted support to the Prime Minister’s appeal made during his address to the nation yesterday about caring for the underprivileged and daily wage earners during the current crisis. In his address, PM Modi appealed to every Indian to accord topmost priority to providing food to …

Restaurant industry takes up PM’s call to feed the poor; will serve 10 million meals during the lockdownRead More

Bringg Raises $30 Million As COVID-19 Expands Delivery Volumes

Bringg, a delivery orchestration platform, has raised $30 million in a series D funding round led by Viola Growth. The new investment brings Bringg’s funding total to $83.3 million, which will help the solution provider accelerate its delivery momentum and expand its offerings to both large enterprises and SMBs. Bringg offers a delivery logistics program …

Bringg Raises $30 Million As COVID-19 Expands Delivery VolumesRead More