FinanceReuters•2 hours agoMcDonald's to shut 169 outlets in India amid dispute with local partner
Fast food chain McDonald's said on Monday it planned to shut all 169 of its restaurants in India's northern and eastern regions, escalating a dispute with its local partner and potentially putting thousands of workers out of jobs. The U.S. company said it was "compelled" to take the action because its partner Connaught Plaza Restaurants Pvt Ltd (CPRL) had breached the terms of their franchise agreements. Vikram Bakshi, managing director of CPRL, told Reuters the decision came as a "big shock" and the company was studying all its legal options.
- FinanceBusiness Insider•3 hours ago
Amazon is about to claim a new victim in the retail apocalypse
Foot Locker and Finish Line are in danger of losing market share to Amazon. Foot Locker and Finish Line also have a large presence in malls that have lost anchors Macy's and J.C. Penney. Retailers across America have been closing stores in droves this year amid years of declines in sales and customer traffic and an increasing threat from Amazon.
- BusinessHouston Business Journal•38 minutes ago
Francesca’s chief merchandising officer leaves company
Francesca’s Holdings Corp. (Nasdaq: FRAN) announced Aug. 21 that Laurie Hummel, executive vice president and chief merchandising officer, has left the company after less than two years. The Houston-based specialty retailer did not disclose the reason for Hummel's departure, but the company has already begun a search for a new chief merchant, according to a press release. “We have a lot of talent in our merchandising team and are confident in their ability to execute our strategy as we search for a new chief merchant,” Steven Lawrence, Francesa’s CEO and president, said in the release. “We wish Laurie well in her future endeavors.” Hummel joined Francesca's in November 2015. Previously, she spent
