Hartmarx sale price rises-CEO

Standard

By Ian Sherr

CHICAGO, July 31 (Reuters) – The sale price for bankrupt Hartmarx, the men’s clothing company from which President Obama gets his suits, has risen to about $130 million, Chief Executive Homi Patel said in an interview, adding that he would step down as CEO on Friday.

Patel declined to say why the price had risen from $119 million, the price listed in court documents filed last month.

Continue reading

U.S. retailers continue struggle with employee theft

Standard

By Ian Sherr

CHICAGO (Reuters) – Walking the pharmacy aisle of a Target Corp discount store, shoppers can’t miss the many anti-shoplifting measures: locked display cases, alarm cords around boxes of expensive merchandise, display hangers with locks on the end.

Those represent only a fraction of the anti-theft advances created over the years to protect stores against shoplifters and organized retail theft gangs.

But what about the determined insider?

Continue reading