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June 22, 2015 at 2:44 pm
For a long time, malls were dominated by brands like Sears, Gap, and Abercrombie & Fitch. But the tide is turning in retail. Big apparel brands are grappling with shoppers who increasingly want deeply discounted clothes over classic logos and status. Gap is closing one-quarter of its stores and laying off hundreds of workers after…
June 22, 2015 at 2:38 pm
Just when you think you know a little something about the millennial generation, another piece of research drops like a bomb. Of all the stores for them to prefer, Wal-Mart isn’t the one that naturally comes to mind. But that’s precisely the case as Wal-Mart ranks as the preferred place to shop for millennials 24…
June 22, 2015 at 2:30 pm
After widespread backlash for posting pictures of his partying after massive layoffs at J.Crew's corporate headquarters, the clothier's vice president of men's merchandising has been fired, a source with information on the situation told CNBC. Alejandro Rhett came under fire after posting photos to Instagram that seemingly made light of the 175 J.Crew firings that…
June 19, 2015 at 3:45 pm
Office Depot Inc. said its shareholders voted overwhelmingly in favor of the $6.3 billion buyout offer from larger rival Staples Inc., in a deal that would combine the two largest U.S. office suppliers. Office Depot said 99.5 percent of the votes cast were in favor of the deal at a shareholder meeting on Friday. The…
June 19, 2015 at 3:34 pm
Alibaba wants to put a robot, specifically one named Pepper, in your home — or store. The Chinese e-commerce giant and Foxconn Technology Group announced they're each investing $117.8 million in Japanese telecommunications giant SoftBank’s robotics unit, SoftBank Robotics Holding Corp. Softbank will own 60 percent of the joint venture, with Alibaba and Foxconn each…
June 19, 2015 at 3:25 pm
There are some classy ways to handle firing employees — this just might not be one of them. Soon after personally delivering the bad news to some J.Crew employees being laid off, the clothier's vice president of men's merchandising took to Instagram to post celebratory photos, seemingly mocking those who were fired, according to The…
June 19, 2015 at 3:14 pm
When Nasty Gal relocated from San Francisco to Los Angeles at the start of 2012, the entire company consisted of a band of 40 young employees who were more apt to call themselves family than colleagues. Later, after the brand became the shining example of runaway e-commerce success and the company was flooded with hundreds…
June 18, 2015 at 4:49 pm
UPS is doing away with the big discounts large retailers receive on oversize packages this holiday season — and in some cases, year-round — according to The Wall Street Journal. The shipping carrier has been broadcasting its intention to implement new pricing strategies during peak season since January, after heavy investments last year to avoid…
June 18, 2015 at 4:02 pm
RadioShack is selling $50 million worth of real estate in an effort to appease creditors. Judge Brendan Shannon, the same judge who confirmed RadioShack’s bankruptcy and subsequent auctions for its intellectual property, said he would approve property sales this week to two real estate investors, The Wall Street Journal reported late Wednesday.
June 18, 2015 at 3:44 pm
Target announced Wednesday that it's laying off 140 headquarters-based employees and eliminating another 50 jobs as part of a corporate restructuring. Most of the jobs being eliminated are part of the company's Business Performance Optimization Center of Excellence and "were places we identified redundancies or opportunities for greater efficiencies," Target spokeswoman Molly Snyder said in…
