Management
July 21, 2022 at 5:02 pm
Convenience store chain 7-Eleven has cut roughly 880 corporate jobs in the United States, CNBC has learned, roughly a year after it completed its $21 billion acquisition of rival C-store and gas station business Speedway. The cuts were of certain jobs in the company’s Irving, Texas, and Enon, Ohio, support centers, as well as field…
July 14, 2022 at 4:50 pm
Victoria's Secret & Co has cut about 160 management roles, or 5 percent of its home office staff, and hired a former Amazon.com executive as part of a reorganization following its separation from L Brands last year. The company also named executives to three key leadership roles reporting to Chief Executive Officer Martin Waters. Amy Hauk, who…
July 12, 2022 at 6:31 pm
Gap Inc. CEO and President Sonia Syngal is stepping down from her position and from the company's board, effective immediately, the apparel retailer announced on Monday. Syngal will stay at the company during a brief transition period, and Bob Martin, the company’s current executive chairman of the board, will serve as interim president and CEO.…
July 11, 2022 at 5:09 pm
When it comes to nurturing a successful frontline team in a retail environment, employee engagement has to be a top priority. However, many employers find engagement to be a slippery, elusive quality. According to a 2021 study, 73 percent of employees would consider leaving their current jobs. The struggle to engage and retain employees is one without…
July 7, 2022 at 4:56 pm
Peloton sweetened incentives for its workers with one-time cash bonuses and changes to its stock compensation plan as it works to retain employees and fix its struggling business, according to internal memos seen by CNBC. The changes come a little more than five months into CEO Barry McCarthy's turnaround plan. McCarthy was named CEO in early…
July 5, 2022 at 5:14 pm
Online sneaker resale platform StockX is facing a slew of troubles, from layoffs to lawsuits, reports Footwear News. Last week, the company laid off 8 percent of its workforce, saying that it needed to adapt and pivot its business to keep up with “macroeconomic challenges” that are impacting the economy and its business. According to an…
July 1, 2022 at 2:21 pm
Kohl's has rejected a $53-per-share takeover bid — down from a previous offer of $60 — from the Franchise Group (FRG), according to a regulatory filing with the Securities and Exchange Commission by the retailer on July 1. "Despite a concerted effort on both sides, the current financing and retail environment created significant obstacles to reaching an acceptable and fully executable…
June 30, 2022 at 6:13 pm
Enjoy Technology, a retail startup founded by former Apple and J.C. Penney exec Ron Johnson, filed for Chapter 11 bankruptcy protection on Thursday, mere months after it made its stock market debut. The company’s liquidity has dwindled while its business has suffered from staffing shortages. Enjoy, which operates mobile retail stores, went public in October…
June 28, 2022 at 3:14 pm
After a six-month review period that saw its own stock and the broader markets falling by more than 20 percent, Walgreens announced Tuesday that it has decided to retain ownership of its U.K.-based Boots unit, as well as its No7 cosmetics brand, reports PYMNTS. A deal that had been reputed to be worth up to…
June 27, 2022 at 10:13 pm
Foot Locker Inc. said on Monday that it entered a deal to sell its team sales business to BSN Sports, a division of team athletic gear provider Varsity Brands. The retailer is divesting the entirety of its assets under the Eastbay team sales business, which supplies footwear, apparel and equipment to high school and college athletes as well…
