Story of the Week Unilever to split off its ice cream unit including Ben & Jerry’s Unilever announced plans to separate its ice cream unit, which includes Ben & Jerry’s and Magnum, as part of a restructuring that will affect 7,500 jobs. The company added that its ice cream division, which generated 7.9 billion euros […]
Story of the Week Kevin Plank returns as Under Armour CEO, Mohamed El-Erian named board chair Under Armour announced that CEO Stephanie Linnartz is stepping down from her role just over a year after she started, and founder Kevin Plank will return as the brand’s chief executive. Linnartz took over as Under Armour’s CEO in […]
Razor maker Harry’s files for IPO, sources say Harry’s Inc, a maker of razors and other grooming and personal care products that was valued at $1.7 billion in a private fundraising round in 2021, has filed confidentially with U.S. regulators for an initial public offering, according to people familiar with the matter. Harry’s, whose investors […]
Story of the Week Macy’s to close 150 more stores in 3 years As part of a transformation plan unveiled Tuesday, Macy’s said it will shutter 150 underperforming locations over the next three years, with 50 closing this year alone. At the same time, Macy’s Inc. will open 15 Bloomingdale’s stores, at least 30 Bluemercury […]
Story of the Week Here’s why Capital One is buying Discover in the biggest proposed merger of 2024 Capital One’s recently announced $35.3 billion acquisition of Discover Financial isn’t just about getting bigger — gaining “scale” in Wall Street-speak — it’s a bid to protect itself against a rising tide of fintech and regulatory threats. […]