- Michaels has acquired Joann’s intellectual property and private labels as its own customers’ interest in sewing grows, the company said Thursday. Michaels did not acquire any physical Joann locations as part of this transaction, a company spokesperson said by email.
- The spokesperson declined to disclose the purchase price and didn’t address questions about how it might use Joann’s logo or other trademarks, except to say it will be developing Joann private brands Big Twist Value Plus, Big Twist Twinkle, Big Twist Posh and Big Twist Baby Bear.
Joann’s future a mystery as Michaels snaps up IP, private labels | Retail Dive
Related Posts
The Postal Regulatory Commission released its Financial Analysis, an examination of the U.S. Postal Service’s (Postal Service) financial results and 10-K Statements for Fiscal Year (FY) 2020. Despite an increase in Competitive products revenue, the Commission’s overall analysis supports the conclusion that the Postal Service is on a highly unstable financial path. Total net operating losses were $3.6 billion in FY 2020, continuing the trend of significant operational losses. When non-operating expenses are included, such as non-cash workers’ compensation costs and accruals to retirement accounts, the net operating loss of $3.6 billion becomes a total net loss of $9.2 billion. The net operating losses are predominantly due to persistent declines in Market Dominant mail volume and higher operating expenses. click read more for details
Houghton Mifflin Harcourt and Sequential Brands Group announced a new partnership for the release of Martha Stewart’s next three lifestyle books. Each title will be an essential guide to doing things the Martha way, featuring fresh content that captures her impeccable taste and incomparable guidance on everything from entertaining, to healthy living, to organizing, and decorating. “So many of us have admired Martha Stewart for decades. She’s a cultural icon the nation continually turns to for trusted advice,” says Deb Brody, VP Editor-In-Chief, HMH Trade Publishing. “We are overjoyed to launch this partnership between Martha Stewart and Houghton Mifflin Harcourt with her lifetime’s expertise collected for the first time in one indispensable volume. This is the book Martha’s fans have been waiting for.” Click Read More below for additional information.
The digital media and entertainment industry has seen a 124% increase in subscribers since 2020. But that is overshadowed by digital publishing, which enjoyed a 536% increase in subscribers during the same time period, according to a new benchmarking report from Recurly. At the same time, churn rates have increased to 6.9% for digital media and entertainment, the result of subscription fatigue and increased competition. However, digital publishing experienced a 3.9% rate, probably because of less competition and higher brand loyalty.