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August 18, 2015 at 2:48 pm
Walgreens Boots Alliance confirmed Monday that it will lay off 270 Chicago employees in corporate support as it continues to shed jobs and consolidate functions following its merger. The retail drug chain said the Chicago layoffs are part of 370 corporate jobs being cut companywide. No store workers will be affected. Employees are being offered…
August 18, 2015 at 2:44 pm
Only months after one of the country’s biggest retailers of dog food and catnip went private, another is planning a return to the public markets. Petco filed on Monday to stage an initial public offering, becoming the latest company owned by private equity firms to pursue a stock listing. Going public will give Petco’s private…
August 17, 2015 at 4:33 pm
Sam’s Club wants to move beyond its parent’s DNA. The warehouse-club retailer, owned by Wal-Mart Stores Inc., for years has struggled to turn around sluggish sales. Now it's pursuing a more fundamental fix: breaking away from the low-income consumers who shop at Wal-Mart.
August 17, 2015 at 4:03 pm
The cruel and back-stabbing environment described by The New York Times in a report this weekend on the workplace culture at Amazon.com has struck a nerve with Jeff Bezos. In a memo to employees this weekend, obtained by GeekWire, Bezos says he doesn’t recognize the company described in the article. In the memo, Bezos encourages…
August 17, 2015 at 3:55 pm
Target Corp. CEO Brian Cornell took a major step in reshaping the company’s senior leadership Monday by elevating Chief Financial Officer John Mulligan to a new role and reaching outside the firm for a new finance chief. He tapped Cathy Smith, a former executive for Express Scripts and Wal-Mart, as Target’s chief financial officer, starting…
August 17, 2015 at 3:49 pm
The owner of QVC is buying online flash-deal business Zulily in a cash-and-stock deal valued at approximately $2.32 billion. While Zulily's sales topped $1 billion last year, its growth has slowed and its shares have been in decline since February of last year. The per-share price paid by QVC is below the $22 Zulily got…
August 17, 2015 at 3:34 pm
Nordstrom Rack, the rapidly expanding off-price version of Nordstrom, is working exactly as the company hoped it would: it’s bringing in a boatload of new customers to the regular brand. One million Rack customers started shopping at the company’s full-line stores or at Nordstrom.com for the first time last year, said Blake Nordstrom, the company’s…
August 14, 2015 at 9:22 pm
The Honest Company, the nontoxic household products startup cofounded by actress Jessica Alba, announced on Friday that it had closed $100 million in Series D financing. This latest round values the company at upwards of $1.7 billion, as The Wall Street Journal first reported. It also catapults Alba into a rarefied club. The movie star-turned-mogul…
August 14, 2015 at 9:15 pm
J.C. Penney's turnaround is gaining traction. The department store chain said Friday that its losses narrowed in the second quarter on better-than-expected sales, fueled by men's clothing, fine jewelry and the beauty brand Sephora. And a key revenue measure rose for the third straight quarter. But J.C. Penney still has an uphill road to a…
August 14, 2015 at 9:09 pm
Macy's chief Terry Lundgren said Wednesday it was a business decision to end the retailer's 11-year menswear collection partnership with Donald Trump. Trump stirred a storm of criticism by making disparaging remarks about Mexican immigrants when he announced his bid for the GOP presidential nomination in June. Refusing to comment on what Trump said, Lundgren…
