Management

Target salaried employees who are eligible for bonuses will only receive 87 percent of their potential bonus for fiscal year 2024 based on total-year financial performance, reports YahooFinance. That percentage is a considerable drop from FY 2023, when bonuses were paid at 100 percent. In earnings reported March 4 for FY 2024, Target announced that…

The head of fast-fashion chain Primark, Paul Marchant, has resigned with immediate effect after he admitted an “error of judgment” towards a woman in a social environment. Parent company Associated British Foods (ABF) said in a statement on Monday that Marchant had accepted his actions fell below the standards expected, and the chief executive of…

Nike has warned that sales will drop by a double-digit percentage in its current quarter as the sneaker giant contends with new tariffs, sliding consumer confidence, and a slower-than-expected turnaround. In a conference call with analysts, finance chief Matt Friend said Nike expects its sales decline in the fiscal fourth quarter, which is set to…

Forever 21's U.S. operating company on Sunday filed for bankruptcy for the second time in six years and said it would wind down its domestic operations, hurt by mounting online competition in the fast-fashion sector and weak mall traffic, reports Reuters. It blamed the situation on higher costs and companies taking advantage of duty-free treatment…

As news of Forever 21 store closings trickle in across the country, the apparel retailer is set to lay off over 350 employees from its Los Angeles corporate office, which it also plans to close, reports USA TODAY. Layoffs are expected to begin on April 21, according to a Feb. 14-dated WARN notice, which is…

Kroger said on Monday CEO Rodney McMullen has resigned after a board investigation found that his personal conduct was "inconsistent" with certain company policies. The conduct is not related to financial performance, operations or reporting, and it did not involve any Kroger associates, the company said. The surprise ouster of the 64-year-old executive comes after…

Retailers broke records over the holidays as Americans opened their wallets, supported by a strong job market. But that same job market, with low unemployment rates, means retailers struggled to recruit and retain the workers needed for the hectic shopping bonanza. For retail workers — who represent 26 percent of the U.S. labor force —…

Fabrics retail chain Joann will shutter all of its approximately 800 locations after failing to find a buyer that would keep its stores open, reports CNBC. In January, the retailer filed for Chapter 11 protection for the second time in a year, saying that inventory shortages had forced it to back into bankruptcy. In a…

Amazon.com has tapped Whole Foods CEO Jason Buechel to oversee its sprawling grocery business, the company announced Monday. Buechel became CEO of Whole Foods in 2022 after co-founder John Mackey retired from the company. In his expanded role leading Amazon’s grocery business, Buechel will succeed Tony Hoggett, who left Amazon last October to join Wonder,…

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