ModusLink Global Solutions™, Inc. and Steel Partners Holdings announced that ModusLink has completed the acquisition of privately-held IWCO Direct, a leading provider of data-driven direct marketing solutions, for $476 million in cash. Warren Lichtenstein, Executive Chairman of ModusLink, said, “We have been looking to acquire a profitable business with attractive operations and financials, and with a strong management team in order to leverage our approximately $2.1 billion in net operating loss carryforwards (NOLs) and cash. We found a great fit in IWCO Direct. We essentially double the size of our Company and add significant earnings and free cash flow. We add a market leader with industry-leading solutions, a client base consisting of Fortune 500 companies, and significant opportunities to drive both top- and bottom-line results. We intend to aggressively grow IWCO Direct, organically and through acquisitions, and will look to leverage Steel Partners’ vast relationships and resources to drive operational excellence and enhance stakeholder value.” Click Read More below for additional information.
The department store retailer is now accepting unpackaged Amazon returns at its more than 1,100 stores nationwide. Kohl’s and Amazon previously piloted the program in some 100 Kohl stores in the Los Angeles, Chicago, and Milwaukee markets. In April, the chain announced it planned to roll out the service to all stores in July.
“The nationwide rollout of the Amazon Returns program is our single biggest initiative of the year,” said Michelle Gass, CEO, Kohl’s chief executive officer. “Our top strategic priority is driving traffic, and this transformational program does just that. It drives customers into our stores, and we are expecting millions to benefit from this service.”
more at: https://www.chainstoreage.com/store-spaces/kohls-goes-nationwide-with-amazon-returns/