Friday October 9, 2015

updated - October 9, 2015 Friday EDT

Latest News
Franchise News
Marissa Webb Stepping Down as Creative Director of Banana Republic, Sales Continue to Slide

Marissa Webb, the executive vice president and creative director of Banana Republic, is stepping down from her post after just 18 months in the job, according to a report from The New York Times. The sales of Banana Republic continue to drop, showing that Webb was unable to bring about a sales rebound.

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Franchise News
U.S. Unemployment Claims Fall More Than Expected, Near 42-Year Low

A press release from the U.S. Department of Labor (DOL) has shown that the number of Americans filing for unemployment benefits is at 263,000 for the week that ended on October 3, 2015. The seasonally adjusted figure came out lower than expected and has nearly approached the 42-year low.

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Beyonce And Her Supergroup Reportedly File Complaint Against French Fashion House ElevenParis

Beyonce and others have reportedly filed a complaint against ElevenParis.

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Franchise News
Peet's Coffee to Acquire Stumptown Coffee, Both Companies Will Still Operate Independently but Stumptown Getting Access to Peet's Resources and Scale

Peet’s Coffee & Tea announced in a press release that they will be acquiring the ownership of Stumptown Coffee Roasters from its shareholders, including TSG Partners LLC, who holds a majority stake at Stumptown Coffee. Both companies will still continue to operate independently from each other with Peet’s Coffee providing Stumptown Coffee with full access to its resources and scale.

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Franchise News
Gannett to Acquire Journal Media Group for about $280 Million, Enhances Gannett's Portfolio in U.S., Increase Digital Audience

Gannett Co., Inc., owner of USA Today, has announced in a press release that it will be acquiring Journal Media Group, Inc. for approximately $280 million, net of acquired cash. The acquisition will enhance Gannett’s portfolio in the U.S. and increase its digital audiences.

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Franchise News
Lumber Liquidators to Pay $10 Million in Fines, Part of Settlement for Lacey Act Investigation

Lumber Liquidators Holdings, Inc. will be paying a combined total of $10 million in fines to the Environment and Natural Resources Division of the U.S. Department of Justice (ENRD), according to a press release issued by Lumber Liquidators. The payment is part of a settlement that Lumber Liquidators reached with the ENRD in the former’s compliance with the Lacey Act, a U.S. conservation law regarding the protection of plants, fish, and wildlife.

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Franchise News Drops 50 Annual Membership Fee Due to High Adoption Rate of Smart Cart

Marc Lore, the CEO and founder of, an online marketplace that is trying to rival Amazon and Costco, said in a blog post that they will be dropping the $50 annual membership fee that they are supposed to charge customers once the free-trial ends. The reason for the change was due to the high adoption rate of its Smart Cart, a feature that lowers prices for each items added.

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