In today’s top retail news, Tailored Brands, Inc. announced that its chief executive will depart from his role effective March 26, while Angie’s List is rebranding and will be simply known as Angi. Plus, Olo has announced that its Class A common stock will be priced at $25 per share.
Tailored Brands CEO To Step Down
Tailored Brands, Inc., whose brand collection encompasses names like Jos. A. Bank and Men’s Wearhouse, said that Dinesh Lathi will depart from his role as president and chief executive officer effective March 26. Board members Bob Hull and Peter Sachse will function as interim co-CEOs as the board seeks a permanent replacement.
Angie’s List Rebrands; Will Focus On Enhanced Mobile, Online Service
With less than one month in his new CEO role, Oisan Hanrahan is supervising a rebranding and relaunch of home improvement platform Angie’s List. The firm will now simply be known as Angi. Hanrahan said in a recent conversation with PYMNTS that the timing and decision to “lose the List” only made sense. “Once upon a time, Angi was an actual list of pros, and now it’s so much more than that,” he explained.
Olo Prices Shares At $25 – IPO To Raise $450M
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Olo, the Software-as-a-Service (SaaS) firm, has revealed the price of its Class A common stock as $25 per share. The company’s work involves making online ordering and delivery solutions for eateries. Its shares are anticipated to start trading under the ticker symbol of “OLO” on Wednesday (March 17) on the New York Stock Exchange.
Caleres Closes 100+ Shoe Stores, Renegotiates 1.1K Leases As D2C Sales Soar
Caleres said it closed the books on last year as a more agile, concentrated and profitable firm, and is sanguine about the economic rebound for the latter half of this year. Net sales for the three months concluding Jan. 30 dropped 18 percent from a year prior to $571 million, its eCommerce sales climbed by 25 percent and its direct-to-consumer (D2C) channels comprised three-quarters of its business.
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