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Department store Macy's on Wednesday said it had settled its proxy fight with an activist group led by Arkhouse Management, and that it would add two new directors to its 15-person board. The reshuffle moves Macy's closer to a deal that would take the 165-year-old department store private. Ric Clark, a former executive at Brookfield, and Rick Markee will join Macy's board effective immediately. Arkhouse first submitted an offer to take the retailer private in 2023. The investment-firm-turned-activist then launched a proxy fight at the company in February, putting up a nine-director slate.
Persons: Ric Clark, Rick Markee, Markee, Clark, Macy's, Arkhouse, Jonathon Blackwell, Gavriel Kahane Organizations: Arkhouse Management, Brookfield, Brigade Management
In September, a Discovery Channel film crew traveled to Paradise, Mich., searching for two French naval ships that disappeared in 1918. But on a voyage to find them, they stumbled upon another shipwreck that was four decades older. “Finding the Satellite was hugely exciting and unexpected,” said Mr. Gates. On June 21, 1879, the 15-year-old Satellite was on a routine trip to Duluth, Minn., from Detroit, and towing four schooner barges when it sprang a leak. “She gained on us an inch a minute,” he wrote, adding that “there was no logs” in “the way we came.”
Persons: Josh Gates, , Gates, Joshua B, Markee, Organizations: Channel, , Historical Society Locations: Paradise, Mich, Lake Superior, Duluth, Minn, Detroit
The Children's Place goes full-on into grown-up wear
  + stars: | 2022-10-12 | by ( Parija Kavilanz | ) edition.cnn.com   time to read: +3 min
Recognizing that all-day “casual comfort” is now an acceptable sartorial standard, even for adults, kids’ clothing seller The Children’s Place is going full-on into grown-up wear. The retailer on Wednesday launched a new sleepwear and loungwear brand called PJ Place that specifically targets Millennials and Gen Zers. PJ Place products, priced at $10.95 to $69.95, include pajama sets, robes, thermal sets, graphic tees, socks and slippers for young adults and older shoppers. PJ PlaceTo that end, Markee said PJ Place aims to expand the company’s market share in the adult sleepwear and loungewear space overall. Going after the adult sleepwear and loungewear market is a smart move, said Maria Rugolo, apparel industry analyst with market research form NPD.
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