URBN Announces Personnel Changes

Grainger announced it has entered into a definitive agreement to sell Fabory Group to Torqx Capital Partners, a Dutch private equity company. Grainger will continue offering broad line MRO products to customers in Western Europe through Cromwell and Zoro. "I want to thank the Fabory team for their innovative and customer-focused approach," said DG Macpherson, Chairman and CEO of Grainger. "I'm confident the acquisition by Torqx will better align with Fabory's growth objectives. At the same time, Grainger remains focused on providing value to our customers, executing our strategy and delivering profitable growth through our high-touch and endless assortment offerings."

The digital media and entertainment industry has seen a 124% increase in subscribers since 2020. But that is overshadowed by digital publishing, which enjoyed a 536% increase in subscribers during the same time period, according to a new benchmarking report from Recurly. At the same time, churn rates have increased to 6.9% for digital media and entertainment, the result of subscription fatigue and increased competition. However, digital publishing experienced a 3.9% rate, probably because of less competition and higher brand loyalty.

Grainger announced the sale of E&R Industrial Sales, Inc. to Paradigm Equity Partners, a Los Angeles-based private equity firm. E&R Industrial became a subsidiary of W.W. Grainger, Inc. in 2013. "We are excited about this next stage of growth with Paradigm Equity Partners," said Jason D'Souza, President, E&R Industrial Sales, Inc. "E&R Industrial is firmly committed to a smooth transition for our customers, suppliers and team members." Grainger will continue to serve customers with maintenance metalworking products, services and expertise while focusing on its core business of maintenance, repair and operating (MRO) products and services. Customers will continue to have access to E&R's assortment when purchasing through Grainger, while E&R customers will have access to Grainger's MRO-leading assortment when purchasing through E&R. Details of the agreement were not publicly disclosed.