The food manufacturer says it will slash the value of its Oscar Mayer and Kraft brands by $15.4 billion, an acknowledgment that changing consumer tastes have destroyed the value of some of the company's most iconic products.
The Indianapolis-based retail real estate firm hopes to pay down debt, improve the quality of its assets and focus on preferred markets. Its shares fell on Wednesday after it revealed the plan and underwhelming quarterly results.
The Memphis, Tennessee-based company did not say how many positions it wants to eliminate or from what locations. But its Indianapolis International Airport hub is part of the Express division that will be targeted for the buyouts.
The comeback strategy for Bon-Ton Stores includes closing a dozen Carson's stores, although Bon-Ton hasn't specified locations. The only Carson's in Indianapolis is the lone anchor for Circle Centre mall.
Zionsville-based Lids Sports Group posted disappointing sales in its second quarter, mirroring recent results from other athletic apparel retailers. Its parent company is trying to dampen expectations for the overall firm.