Management
April 18, 2016 at 11:20 am
Sport Chalet's parent company, Vestis Retail Group, said Monday that it has filed for Chapter 11 bankruptcy protection. The news comes two days after Sport Chalet initiated store-closing sales at its 47 locations and stopped all online sales operations. Connecticut-based Vestis also owns outdoor clothing and gear chain Eastern Mountain Sports and East Coast family apparel and shoe…
April 15, 2016 at 9:02 am
Target has undergone a deep transformation in the two years since the most traumatic period in its history. And a lot more change is on the way, prompting the discount retailer to invite Starbucks CEO Howard Schultz this week to come rally the Target troops. Around this time in 2014, Target parted ways with former…
April 14, 2016 at 10:27 am
Gap Inc. has picked the leader of its global supply network to assume the helm of its low-price chain Old Navy. Sonia Syngal is a 12-year company veteran who most recently served as executive vice president of Gap's global supply chain and product operations. She's filling the spot that became open when Stefan Larsson left last…
April 14, 2016 at 9:45 am
The past year has been a struggle for Zappos. Following a complex transition to a radically non-hierarchical management system called holacracy, and then the introduction of a second philosophy called “teal,” the Amazon-owned online shoe giant lost nearly one-third of its employees, including many of the longest tenured. It also fell off Fortune’s list of…
April 13, 2016 at 10:45 am
Top marketing executives at both Macy's and Kohl's announced their resignations Tuesday. After more than three decades at Macy's, Chief Marketing Officer Martine Reardon is leaving the company, the retailer said. Ms. Reardon was promoted to the CMO post four years ago. Her last day with the 870-store chain will be May 13.
April 12, 2016 at 10:27 am
American Apparel Inc., which re-emerged from bankruptcy in February, plans to cut up to 450 jobs at its facilities in Garden Grove, downtown Los Angeles and South Gate, according to its workers’ union. The clothing maker and retailer laid off more than 80 employees at its Garden Grove factory and could cut a total of…
April 11, 2016 at 11:23 am
Overstock.com CEO and chairman Patrick Byrne has taken an indefinite medical leave of absence from the company. Byrne has a long history of medical problems after a long bout with cancer nearly 30 years ago. Due to the cancer and related heart problems, Byrne says, he has undergone more than 106 surgeries over the last three…
April 11, 2016 at 11:19 am
Sears Holdings Corp., the department-store operator run by hedge fund manager Edward Lampert, obtained a new short-term loan partially funded by an investment firm that manages billionaire Bill Gates’s fortune. Cascade Investment has funded $125 million of a $500 million loan that Sears raised by using about 20 of its mortgaged properties as collateral, the retailer…
April 8, 2016 at 11:31 am
Amazon.com announced on Thursday that two of its longest-serving executives have received promotions. In a blog post, the Seattle-based online retailer said that its head of its consumer business, Jeff Wilke, and the head of its cloud computing division, Andy Jassy, had been named CEO Worldwide Consumer and CEO Amazon Web Services, respectively. Wilke and Jassy…
April 7, 2016 at 1:51 pm
L Brands Inc. said it would restructure its Victoria's Secret business in an attempt to streamline operations and focus more on its core merchandise, as the retailer reported better-than-expected growth Thursday across its established stores in March. The restructuring comes two months after Sharen Turney resigned as Victoria's Secret chief executive. Victoria's Secret will cut about 200…
