Fung Global Retail & Technology tracks store openings and closures for a select group of US retailers.
What Is Happening this Week?
Target’s management reiterated its goal of transforming more than 600 stores, including more than 100 stores in 2017, as well as opening 100 new small-format stores over a three-year period. VF Corporation announced it has come to a definitive agreement to acquire Williamson-Dickie Manufacturing Co. for $820 million in cash.
Target Reiterates Its Goal to Remodel 600 Stores and Open 100 Small-Format Stores
Target’s management reiterated its goal of redesigning its stores during its fiscal second quarter 2018 earnings call. The goal is to transform more than 600 stores over a three-year period, including more than 100 stores in 2017. The company is also on track to open more than 100 new small-format stores in dense urban, suburban and college campus neighborhoods over a three-year period.
VF Corporation to Acquire Williamson-Dickie Manufacturing Co. for $820 Million
On August 14, VF Corporation, a branded lifestyle apparel and footwear company, announced it would acquire workwear company Williamson-Dickie Mfg. Co. for approximately $820 million in cash. The transaction is expected to be completed in the fourth quarter of 2017. VF Corp. management said the deal will help to drive transformative growth for the company, as outlined in its 2021 global business strategy announced in early 2017. Williamson-Dickie brands include Dickies, Workrite, Kodiak, Terra and Walls.