The brick-and-mortar retail shuffle continues as more acquisitions are on their way for a collection of children's clothing companies, including Gymboree, which sold to competitor Children's Place, while Gap Inc. intends to acquire Janie and Jack, the Wall Street Journal reports.
Details: Both transactions will still need to be verified in bankruptcy court. Children's Place is paying $76 million for the rights to Gymboree, its Crazy 8 brand and Singapore-based Zeavion Holding. Meanwhile, Gap's eventful week continues, closing out with the $35 million purchase of Janie and Jack and a secondary acquisition of the chain's inventory out of liquidation.
President Trump called the Justice Department's Russia investigation "a phony witch hunt" at the Conservative Political Action Conference Saturday, suggesting the probes are "trying to take me out with bullshit."
Two journalists with the UC Berkeley Investigative Reporting Program are being called to destroy files they obtained, outlining 10 years of data on arrests and convictions against California police officers, according to the Washington Post.
Details: California Attorney General Xavier Becerra said the files — obtained by a public records request — shouldn't have been shared with the journalists, per the Washington Post. The police have requested that the reporters refrain from publishing their findings, including revelations of domestic abuse, child molestation and murder. For now, the parties are at a stalemate, with the question remaining whether the material is a matter of public concern.
A series of scary headlines, legal actions and pranks this week have reminded the nation of the perils of the internet for our most vulnerable population: children.
Why it matters: The long-term impact on children growing up in today's device-centered media environment is largely unknown, and research on the topic is so far preliminary. But parents, teachers and regulators worry that a lack of safeguards around kids' privacy and online content could have dangerous consequences.
Gap Inc. announced Thursday that it will split itself into two companies — Old Navy as a standalone storefront, and Gap, Banana Republic, Athleta and its other brands together as a separate business. (It’s yet to be named, though the obvious name would be ... Gap.)
Why it matters: This could finally make shareholders happy. Gap Inc. has been struggling to balance its successful Old Navy retailer (alone, it has $8 billion in annual revenue, nearly as much as the others combined) with the rest of its brands, including namesake Gap, which has struggled in recent years.
Google, Microsoft, Apple and Amazon are each reportedly working on their own versions of a "Netflix for games," as the tech giants enter a heated battle to own the subscription business for video games.
Yes, but: It's easier said than done. Netflix rose to the top in part because it was able to exploit a gap in the market years ago around content licensing. An exact parallel to that doesn't exist in the gaming industry.
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