The Weekly Closeout: Louis Vuitton brings on Pharrell Williams, Belk plots more outlet stores
It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we’re still thinking about.
From Petco’s expanded partnership with Canadian Tire to Peeps’ tie up with Pepsi, here’s our closeout for the week.
What you may have missed
Belk to open more outlet stores
Regional department store Belk opened its first outlet store earlier this month in Greeneville, Tennessee. When asked if there were plans to open additional locations, the company said that it was waiting to see how customers responded to the store.
Courtesy of Belk
The retailer quickly moved ahead with expansion plans, though. It will open between four and six Belk Outlets by the middle of April, according to a company spokesperson.
Moody’s on Tuesday downgraded Belk to a Caa3 rating from Caa2. The downgrade “reflects