Management

Best Buy intends to cut 2,400 jobs, including 600 Geek Squad technicians, which would amount to 1.4 percent of its workforce, Reuters reported Friday. According to the report, these cuts are in addition to the job reductions related to the 50 store closings the company announced in March.

The Men's Wearhouse announced that Neill P. Davis , Executive Vice President and Chief Financial Officer, has notified the Company that he intends to leave on August 2, 2012 to accept the position of President with Francesca's Holdings Corporation, a women's specialty retailer where he has served as a director for the past five years. Doug Ewert , Men's Wearhouse President and CEO, stated, "Neill has been an integral part of our senior management team for the past 15 years and he will be missed. We wish him well in his new endeavor."

As online shopping has surged, traditional retailers have lost millions in sales to so-called showrooming — when shoppers check out products in stores that they then buy from Web sites like Amazon. It has gotten so bad that Best Buy even replaces standard bar codes with special Best Buy-only codes on big ticket items so they cannot be scanned and compared online. Now some big retailers are taking a new approach to the dreaded showrooming by transforming their stores into extensions of their own online operations.

In today's business climate customers expect more from companies. The business value and risks are real. It is no longer how fast a business can respond to a customer but how well. 

Ascena Retail Group CEO David Jaffe has pledged to preserve the jobs of 7,500 employees at soon-to-be-shuttered Fashion Bug stores, as well as 600 workers at the headquarters of Charming Shoppes, according to an article in The Philadelphia Inquirer. Ascena, which owns the Dressbarn, Justice and Maurices banners, acquired Charming Shoppes — and its Lane Bryant, Fashion Bug and Catherines brands — on June 15. Jaffe said that Ascena is committed for at least three years to the Bensalem, Pa., facility that houses executive and administrative offices for Charming Shoppes. 

In an effort to counter crowded stores and limited seating, Apple is reportedly revamping the in-store configuration of its Genius Bars, according to IFOAppleStore.com. By turning the "bar" 90 degrees perpendicular from the far wall of the store, smaller Apple stores will be able to offer more bar stools to customers with repair needs or computer questions.

Amazon.com reportedly agreed on Monday to buy mapping startup UpNext, the latest sign of increased competition between the world's largest internet retailer and tech rivals such as Google and Apple. GigaOM reported that UpNext Founders Raj Advani, Vik Advani, Robin Har and Danny Moon will move from New York to Seattle, where Amazon is based, to lead the e-commerce company's mapping efforts. The technology news service didn't report a purchase price, but said UpNext backers, including Chris Sacca's Lowercase Capital, will get a five-fold return on their investment, made about 16 months ago.

Matthews, N.C.-based Family Dollar is on track to open 450 to 500 new stores while closing 60 to 80 stores this year. During the first three quarters of fiscal 2012, the retailer opened 287 new stores, closed 43 stores and renovated, relocated or expanded 583 stores. Family Dollar currently operates more than 7,100 stores in 45 states. 

ShopAtHome.com, a coupon search engine that connects upwards of 12 million consumers each month to the best deals and cash-back savings, today released its first Buy-havior Report. The report, which tracks consumer search habits on the site, found that when consumers search for online coupons and savings, 62 percent searched for store-centric deals, 24 percent for product-specific coupons, while only 14 percent searched specifically for brand name product discounts online.

Listen in as Jonathan L. Fleischmann, president and CEO of Potpourri Group, whose brands include Potpourri, NorthStyle, Serengeti and Country Store, discusses his company's winning branding and merchandising strategies at the Retail Marketing Virtual Conference & Expo. Register for the on-demand version of the event, which is available until July 23, by clicking here.