Industry News

Peak Resorts Inc., a Wildwood-based operator of ski resorts, announced Monday that it had agreed to sell $20 million in Series A convertible preferred shares to CAP 1 LLC through a private placement. CAP 1 LLC, which owns 8.7 percent of Peak Resorts' common stock, is managed by Summer Road LLC. As part of this deal, Summer Road will have the right to nominate a person for election to Peak's board of directors."/>
Peak Resorts to offer preferred stock to CAP 1 [St. Louis Post-Dispatch] Inc.' s Indian unit after losing its lead in July--a potential watershed moment in the country's fledgling Internet business. Barely three years after launching in India, Amazon likely exceeded Flipkart in terms of gross sales in July. Flipkart reported gross sales or gross merchandise value of less than Rs.2, 000 crore in..."/>
Has Flipkart lost No 1 slot to Amazon? [Mint, New Delhi]
Myntra clocks over $80 million sales in July [Mint, New Delhi]
Staples, Office Depot CEO Roland Smith announced Monday he will retire as top executive-- but stay on as chairman and help choose his successor. Smith, 61, plans to leave after a new top executive is named, which is expected by the first quarter of 2017, the Boca Raton-based company said. The announcement follows the retirement of Staples CEO Ron Sargent, who stepped down in June."/>
Retiring Office Depot CEO: 'Right strategy and right people' in place to bring in a successor [Sun Sentinel]
AT&T announces Cuba voice, text, data service [Sun Sentinel]
Whirlpool Corp. once again demonstrated confidence in its Greenville plant, announcing plans Monday to nearly double its distribution size there, the latest expansion at the Darke County facility. The manufacturing site ships all of the company's KitchenAid small appliances. The latest $17 million expansion, which will grow the company's warehouse from 327,000 square feet to approximately 650,000 square feet, builds upon Whirlpool's commitment to the Greenville,..."/>
Whirlpool to expand local plant again [Dayton Daily News, Ohio]
Ralph Lauren is also dropping Lochte."/>
Ryan Lochte dropped by Speedo and Ralph Lauren over behavior in Rio [The Oregonian, Portland, Ore.]
Darden Restaurants is testing ride hailing services Uber and Lyft to pick up brunch customers at its Seasons 52 chain-- and paying the fare-- as a way to promote their Sunday brunches. Seasons 52 has begun sending email messages to customers near their Altamonte Springs and San Diego restaurants, saying it will give them a ride credit if they use the ride-sharing services to get back and forth between Sunday brunch. "People like the idea of being able to Uber in, eat and Uber back,"..."/>
Seasons 52 tests paying for Uber, Lyft rides for brunch [Orlando Sentinel]

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