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The act will ultimately boost labor protections in an industry “that was previously not subject to them with dire consequences and an environment that can be ripe for exploitation,” said Carla Varriale-Barker, shareholder of law firm Segal McCambridge.
In 2022, the brand introduced a bodycare line, and in January 2024, Refy expanded into fashion with a limited-edition drop of T-shirts, hoodies, accessories and lifestyle items.
However, due in part to the fact that stores are increasingly serving as fulfillment centers for same or next-day pickup or delivery, the industry is far from morphing into a post-store era, UBS said.
Following a failed deal to sell itself to Nexus Capital Management, Big Lots announced store closures and initiated going-out-of-business sales in a move the company said would help protect the value of its assets.