J.C. Penney adopts poison pill
Plano, Texas J.C. Penney said Monday that it has adopted a shareholder rights plan, or so-called poison pill, in light of “recent rapid accumulations of a significant percentage of the company’s outstanding common stock.” The plan has a term of one year. The rights have a 10% trigger.
The news follows the announcement that activist investor Bill Ackman’s Pershing Square Capital Management and real estate firm Vornado Realty Trust recently disclosed a 16.5% and 9.9% stake each in the retailer.
All-Clad celebrates 40th anniversary
NEW YORK American cookware brand All-Clad has reached a milestone.
All-Clad Metalcrafters was established in 1971 by accomplished metallurgist John Ulam. Just three years after the company was established, All-Clad became the only American cookware brand to manufacture a complete line of cookware in the United States, the company noted. Since that time, All-Clad has introduced eight additional lines and has become a household name among professional chefs and home cooks across the country.
“We’re extremely proud to say that we introduced bonded cookware to professional chefs and home cooks 40 years ago, enabling a superior cooking experience that had never before been possible,” said Melissa Palmer, VP marketing and communications for Groupe SEB High-End Brands.
Kensie launches online shopping site
NEW YORK Apparel brand Kensie has launched its e-commerce site, offering customers with the brand’s full collection, as well as items from its Kensiegirl line.
The site provides trend features on current looks with the Kensie spin, a blog reflecting Kensie culture, and the “I feel pretty” function allowing users to share their idea of pretty, the company said.
“Historically, our site has been a great creative tool to showcase the kensie brand. Changing to an ecommerce site takes kensie to the next level,” said Eric Karls, president of Kensie. “The e-commerce site further expands our reach, providing additional access to Kensie products.”