Management

5 Lessons to Learn From Bob's Stores Bankruptcy
July 17, 2024 at 7:39 pm

New England clothing fixture Bob's is closing permanently, which is sad news for employees, customers, and other stakeholders. The Northeast store, which has been around for 70 years, filed for Chapter 11 bankruptcy in June. With Bob's unable to get the required funds to keep its 21 brick-and-mortar stores operational, the company had to close…

Tractor Supply Co. Eliminates DEI Roles, Pride Support and Carbon Emissions Goals
July 1, 2024 at 5:05 pm

Tractor Supply Co. communicated via a press release last week that it is eliminating diversity, equity and inclusion roles; withdrawing carbon emission goals; and walking back support for the LGBTQ+ community as part of sweeping changes to environmental, social and governance initiatives. More specifically, the retailer of home improvement equipment, livestock and agricultural supplies for…

Essential Prep Tips for Merchants During the Summer Sales Peak Period
July 1, 2024 at 1:17 pm

Just ahead of Amazon Prime day on July 16-17, Walmart kicked off a competitive, paid-membership war with its Walmart+ Week. So, what's in it for U.S. merchants? As the retail giants prepare for a busy sales period, merchants must strategically position themselves to capitalize on events like Amazon Prime Day. Over two-thirds of U.S. small…

SMBs and Economic Experts: A Disconnect on the State of the US Economy
June 11, 2024 at 3:15 pm

For small business retailers, inflation isn't just a number; it’s a real problem that affects their operations and their bottom line. Even as reports of inflation going down make their way into headlines across the country, the average small business owner would disagree. According to FundKite's 2024 SMB Election Year Survey, over half (63 percent)…

Foot Locker's Turnaround Shows Signs of Life
May 30, 2024 at 6:17 pm

Foot Locker saw comparable sales decline 1.8 percent during its fiscal first quarter, far better than the 3.1 percent drop-off that analysts expected, according to StreetAccount. The sneaker retailer also reaffirmed its fiscal year guidance, which projects sales to be between a 1 percent decline and a 1 percent gain, compared with a decline of…

Macy’s Beats Q1 Earnings Estimates, Turnaround Plan Shows Early Progress
May 21, 2024 at 6:00 pm

Macy’s fiscal first-quarter earnings topped Wall Street’s expectations on Tuesday, reports CNBC. The retailer’s revenue came in roughly in line with revenue expectations as it pointed to early signs of momentum in its turnaround strategy. The department store operator raised its full-year earnings expectations to reflect the first-quarter beat, along with the low end of…

Walmart to Cut Jobs at Headquarters, Relocate Others
May 15, 2024 at 11:49 am

Walmart is laying off hundreds of corporate workers across the country as it relocates many employees to its Arkansas headquarters. The big-box retailer confirmed the layoffs and relocations in a memo sent to employees Tuesday. In the memo, Chief People Officer Donna Morris said the move is meant to bring more of its employees back…

Adidas Raises Guidance After Q1 Profit Hike, Shares Jump 8%
April 18, 2024 at 5:10 pm

Shares of Adidas jumped 8.2 percent on Wednesday after the company unexpectedly raised its full-year guidance and reported a year-on-year profit increase in the first quarter, reports CNBC. The German sportswear company said that it now expects currency-neutral revenues to increase at a mid-to high-single-digit rate in full-year 2024, compared with a previous projection of…

Report: Retail Sales Grew at a Steady Pace in March
April 15, 2024 at 12:41 pm

Retail sales grew at a steady pace in March in part due to wage gains and easing inflation for goods, according to the CNBC/NRF Retail Monitor report, powered by Affinity Solutions, released on Monday by the National Retail Federation (NRF). According to the Retail Monitor report, total retail sales were up 2.72 percent unadjusted year-over-year…

Macy’s Settles Proxy Fight With Activist Arkhouse, Adds 2 Directors
April 11, 2024 at 8:39 pm

Macy's announced on Wednesday that it has settled its proxy fight with real estate investor Arkhouse, appointing two of the firm’s nominees to its 15-person board. Ric Clark and Rick Markee will join Macy’s board effective immediately. They’ll be part of the committee that’s in charge of overseeing and evaluating Arkhouse’s bid to take the…