Management

Bed Bath & Beyond CEO Sue Gove said on a call with investors Wednesday that "in order to accelerate our turnaround," the troubled retailer has secured $500 million in financing, will close select stores, and institute layoffs among its corporate and supply chain staff. In her strategic update to investors Wednesday, Gove said she expects…

Rising prices and consumers shopping for more immediate needs has disrupted back-to-school shopping season performance, according to research from The NPD Group, which recently merged with Information Resources, Inc. In the first seven weeks of the back-to-school shopping season, U.S. non-school-related general merchandise sales revenue grew 4 percent, NPD found, while school spending fell short of last…

Adidas AG’s supervisory board has initiated a CEO transition, the sports retailer announced Monday. Kasper Rorsted will hand over the CEO position next year, and the search for a successor has started. Rorsted, who has been CEO since 2016, and its supervisory board “mutually agreed” on the decision. He will remain CEO until a successor has…

Foot Locker announced last week that Mary Dillon, the former executive chair and CEO of Ulta Beauty, has been appointed president and CEO and a member of the Foot Locker board, effective Sept. 1. She will succeed Richard A. Johnson, who will retire on the same day. Johnson will continue as executive chairman of the board through Jan. 31, 2023,…

Nike is again closing its global offices to encourage employee well-being, reports FootwearNews. This will be the athletic wear brand's second annual “Well-Being Week,” continuing efforts to give its employees rest and recovery. In addition to closing its corporate and Air Manufacturing Innovation (Air MI) offices, the retailer will give its retail store and distribution center staff a week’s…

How can retailers succeed in this new era of inflation, economic uncertainty and lightning-fast technological change? What companies will succeed, and which ones will fall behind? Of course, without a crystal ball, it's impossible to be sure. But looking at the emerging trends in retailing over recent years, a picture begins to emerge of those…

The direct-to-consumer pioneer and eyeware brand Warby Parker is eliminating 63 corporate positions, or 15 percent of its corporate workforce, Business Insider first reported this week. In an internal memo to employees, Warby Parker co-founders Neil Blumenthal and Dave Gilboa said the layoffs included customer-facing roles on the retail and consumer experience teams, as well…

The average turnover rate in the retail industry is slightly above 60 percent, according to the National Retail Federation. What does this high turnover rate mean for retailers? Not only do employers have a hard time retaining employees, but employees often have reduced morale and lack motivation to get tasks done accurately and efficiently, resulting…

There may be a day when you wake up and simply don't have the motivation to do your job anymore. When you think about going to work, you may feel helpless, trapped, detached or cynical. This lack of motivation or interest related to your job is commonly known as burnout. Managing this fatigue in the…

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…