In just a few short years, fast fashion has evolved into a potent force on the retail scene, and a good deal of the credit for that transformation goes to Rolf Eriksen. As CEO of Hennes & Mauritz (H&M), Eriksen oversees the Swedish retail giant’s ever-expanding global portfolio.
His efforts to expand into the United States have not only succeeded beyond initial expectations, but have changed the game plan for many U.S. apparel retailers, or at least those catering to the young and fashion-conscious who want the latest runway styles at bargain-basement prices. Under Eriksen, H&M also has set the industry spinning by launching exclusive, limited lines with the likes of Stella McCartney and Roberto Cavalli. The collections have not only created near frenzy among shoppers, but also caused major U.S. players such as Target to jump into the limited-edition market.
Borders to offer free resolution workshops
ANN ARBOR, Mich. Borders said Thursday that it is offering customers free in store events throughout the month of January to help them kick start their new year’s resolutions and learn how to keep them through the year. Programs include wellness fairs, yoga classes and diet seminars.
Borders reported that local organizations and community groups will be featured in activities and events at its stores across the country ranging from fitness centers and hospitals to singles groups and retirement centers.
Schulze sells 440K shares of company stock
MINNEAPOLIS Best Buy chairman and founder Richard Schulze sold 440,000 shares of Best Buy stock last week valued at $22.4 million. Schulze sold the stock at prices ranging from $50.71 to $51.18 per share. Earlier this month, Schulze sold 2.35 million shares valued at more than $120 million.
While Schulze’s stock sales are considerable, they represent just a fraction of his holdings at Best Buy. He’s estimated to still hold more than 68 million shares of stock amassed during 41 years with the company.