
Management

Men's Wearhouse founder George Zimmer fired back Thursday at claims that his "obstinate" desire to control the company led to his ouster last week. In an open letter, Zimmer said the company's directors unanimously nominated him for re-election to the board in May, but then "abruptly fired" him and postponed the annual stockholder meeting so they could nominate a new board "that excluded me."
Paula Deen lost another chunk of her empire on Wednesday. Wal-Mart announced that it has ended its relationship with the Southern celebrity chef, part of the continuing fallout in the wake of revelations that she used racial slurs in the past. The world's largest retailer, based in Bentonville, Ark., currently carries a variety of products under her moniker, including food items, cookware and health and wellness products, at all of its 4,000 U.S. namesake stores. The retailer began selling her merchandise several years ago.
The rise of digital media has been tough on bookseller Barnes & Noble, but until now it appeared as though the company had a chance to turn things around. After Tuesday morning's
Luxury department store operator Neiman Marcus on Monday disclosed plans for a proposed public offering of up to $100 million. The retailer's plan, announced in a regulatory filing, comes some eight years after it was acquired for $5.1 billion by private equity firms TPG Capital and Warburg Pincus. In its filing, Neiman Marcus indicated a desire to expand its outlet center concept, Last Call, which currently operates 35 locations.
The board of directors of Men's Wearhouse today provided further comments regarding the termination of George Zimmer as executive chairman on June 19. The board stated: "Our actions were not taken to hurt George Zimmer. Rather we were focused on what we believed to be in the best interests of Men's Wearhouse, as well as shareholders and employees. While Mr. Zimmer owns 3 ½ percent of the stock, it is our obligation to represent the interests of all shareholders."
Sales tax legislation strikes again! Amazon.com is terminating its contracts with affiliates in Minnesota effective June 30, 2013, thanks to a bill passed in May. The state is home to retail chains
The former president of a Systemax Inc. electronics sales unit was indicted on charges that he took bribes in exchange for steering more than $230 million in business to suppliers. Carl Fiorentino, 56, took more than $7 million from companies in Taiwan and California from January 2003 to April 2011, the government alleged in a seven-count indictment unsealed Tuesday in federal court in Central Islip, New York.
lululemon's homepage recently featured — in big block letters that took up my entire computer screen — a message that read: "CEO Wanted." My first thought was that someone had hacked into its site as a prank. It turns out someone hadn't. lululemon is known for being irreverent, and I'm all for it. I've written about its playful brand voice. It's hard to be confident, sophisticated and tongue-in-cheek at the same time, yet lululemon does it well. So why was this homepage message so jarring?
Men's Wearhouse has dismissed its founder and executive chairman George Zimmer. In a terse release issued Wednesday, the company didn't give a reason for the abrupt firing of Zimmer, who built Men's Wearhouse from one small Texas store using a cigar box as a cash register to one of the nation's largest specialty retailers in men's clothing, with 1,143 locations. Zimmer was seen as the face of the company, appearing in many of its TV commercials with the slogan, "You're going to like the way you look. I guarantee it."
lululemon CEO Christine Day announced last week that she's leaving. Now, the yoga-wear retailer must find her replacement. Where is lululemon recruiting for one of the most sought-after jobs in retail? The internet. The company posted a job description on its website calling for CEO applicants. Check it out: