The demise of the Canadian retail sector has been years in the making, industry expert say.
Herschel Segal resigned from the Board of Directors of DavidsTea on March 5 due to his belief that a majority of the current Board members do not share his vision for a financial turnaround of DavidsTea through a focus on improving operations; they instead consider a continuing strategic review process to be DavidsTea’s priority. Mr. Segal concluded that in order to revitalize DavidsTea’s operations, RDI had to propose a slate of new directors sharing his vision for, and long-term commitment to, DavidsTea. Mr. Segal believes that DavidsTea must focus on an operational and financial turnaround that positions DavidsTea on a sustainable path and creates long-term value – for shareholders, customers and employees. With a new, unified Board of Directors sharing this common vision, Mr. Segal believes that DavidsTea can aspire to a great future as an iconic Canadian brand.
Spin Master asks a U.S. district court to recognize its patents and seeks an injunction preventing Mattel from using the mechanisms in its Mecard toys
US NEWS: ‘Store count isn’t everything. It’s about expanding the business,’ CEO says