Management

Best Buy sells consumer electronics and so does Target. That would make the two companies competitors, right? Maybe yes and maybe no, depending on whom you ask and when. It was just over two years ago that Target, among others, was upping its game with the intention of grabbing share of the consumer electronics market. So how is it that we now come across a report by The Denver Post that Target is bringing Geek Squad "agents" into its 28 stores in the Denver market?

J.C. Penney rose the most in more than six months after Chief Executive Officer Ron Johnson said his overhaul of the department-store chain is "on track" amid quarterly losses and plunging sales. J.C. Penney climbed 6.7 percent to $23.58 at 9:55 a.m. in New York and earlier added as much as 11 percent for the biggest intraday gain since Jan. 26. The shares dropped as much as 12 percent in pre-market trading after the company reported a $147 million second-quarter loss and said it wouldn't meet its profit forecast for the year.

Talbots is expected to unveil new management for the classic women's clothing retailer this week after a finalized buyout of the Hingham, Mass.-based company triggered CEO Trudy Sullivan's resignation. Sycamore Partners expected to complete its purchase of the struggling Talbots last week. The New York private equity firm said it completed its tender offer for the classic women's clothing retailer that expired Thursday night and left Sycamore in control of 83.6 percent of Talbots’ outstanding shares.

When a picture of a Wal-Mart self-checkout screen showing the wrong total for a purchase made its way around the web last week, many assumed it had been altered or perhaps the screen had been captured the instant before an update. But Wal-Mart has now confirmed that a software update impacted almost all of the chain's self-checkout units for about two weeks, causing incorrect and confusing displays. The receipts and the amounts charged, however, were reportedly correct.

In June, Kathleen Mason lost her job as the CEO of Tuesday Morning, a home-furnishings chain. Now, she's claiming it's because her bosses found out she has breast cancer. Mason was ousted on June 5, shortly after the investment firm Becker Drapkin Management — which owns 5 percent of Tuesday Morning's common stock — wrote to Tuesday Morning's board of directors criticizing Mason's performance as chief executive.

Richard Schulze, the founder of Best Buy, wants to buy the company for $24 to $26 per share in a deal that would value the company at more than $8 billion. CNBC's David Faber has the details.

As part of its new retail strategy, J.C. Penney has announced plans to transform its department stores into a collection of brand shops, the first of which are debuting this month for the back-to-school season. The transformation, which will see J.C. Penney stores divided into 80 to 100 brand shops over the next four years, began last week with the unveiling of three shops — Levis, i jeans by Buffalo and The Original Arizona Jean Co. — in close to 700 stores nationwide.

Daffy's Inc., the 19-store chain selling discount designer brands in the U.S. Northeast, filed for bankruptcy court protection after saying it would shut down because of weak consumer spending. The Secaucus, New Jersey-based company listed assets of as much as $100 million and debt of as much as $50 million in Chapter 11 documents filed yesterday in U.S. Bankruptcy Court in Manhattan. Daffy's said July 16 in an e-mailed statement that it would close stores and liquidate merchandise during the next few months.

For consumers, brick-and-mortar store employees are the faces of most retail brands. Therefore, it's critical that consumers have a positive experience every time they come in contact with your staff. A robust training program can provide employees with the knowledge and techniques they need to ensure customer satisfaction.  

We all know that those at the tippy top of the retail fashion industry make a lot of money, but just how much isn't as well known. WWD is reporting the total 2011 earnings of fashion's top 67 CEOs in the U.S., which public companies were required to release to the Securities and Exchange Commission. And, well, let's just say these guys are rolling in it, with salaries ranging from $5 million to upwards of $50 million.