Management

Americans are more burdened by student loan debt than ever before. Statistics show that about 44 million borrowers owe a collective debt of $1.3 trillion, and the class of 2016 just graduated with an average debt of $37,172 — up 6 percent from last year. Earlier this year, The Wall Street Journal reported that many of…

Accounting giant KPMG announced on Tuesday that it has been appointed as administrator in charge of American Apparel’s retail and wholesale business in Britain, likely meaning that the retailer will be closing its U.K. stores. American Apparel is up for sale, but operations in the U.K. and other parts of Europe aren't part of the…

Lumber Liquidators announced that its current CEO, John M. Presley, is stepping down effective immediately. StreetInsider reports Lumber Liquidators’ board of directors has appointed Dennis R. Knowles, the company's current chief operating officer, to succeed Presley as CEO. Presley is also resigning from the company's board of directors. Total Retail's Take: It's about time for change at…

Last night, Donald J. Trump was elected President-Elect of the United States. It means many changes are coming for the country, including to the economy (and retail industry). Forbes reports that while many changes are to come, market paralysis, higher costs and market inflation may be some direct effects of this election. Analysts believe the…

Consumers will once again be able to head straight from the Thanksgiving dinner table to Toys 'R' Us. The toy store chain is opening its doors at 5 p.m. on Thanksgiving and keeping them open for 30 hours straight. Toys 'R' Us says that once stores open, most won’t close until 11 p.m. on Black Friday. The move…

Fashion accessories maker and seller Fossil Group said last week that it's planning a multiyear overhaul of its business that includes closing some stores and focusing on fewer products. Fossil declined to say how many of its 610 stores in the U.S., Europe and Asia it plans to close. There are 284 Fossil stores in the…

CVS is making some changes. Earlier this week, the retailer announced it's eliminating 600 corporate jobs as it battles competition in the healthcare market. The changes will happen over the next two months, and employees affected by the changes will be allowed to apply for other positions within the company. Unfortunately, 2016 hasn't been a…

Whole Foods has been run by two CEOs for six years, but on Wednesday, the company announced that it’s shifting to a single CEO. Co-founder John Mackey will become the sole CEO at the end of the year. The other co-CEO, Walter Robb, will remain on Whole Foods’ board and be a senior adviser to…

Retailers want to trust their workers, but employee theft remains an ongoing dilemma. According to the U.S. Chamber of Commerce, 75 percent of employees have stolen from their workplace, and most are repeat offenders. To make matters worse, workers are sneaking more than just a couple of dollars from the register. In the U.S., employee…

Former Barnes & Noble CEO Ron Boire will be getting $4,825,600 from the bookstore chain to settle all issues related to his dismissal in August after just a year on the job. In exchange for the payment, Boire agreed to forfeit all stock awards. That included 368,098 shares he was granted last September when he…