Management

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…

99 Cents Only Stores announced last week that it had filed for bankruptcy protection in the United States Bankruptcy Court for the District of Delaware, days after it said it was closing all of its 371 locations. Founded in 1982, 99 Cents Only Stores currently operates stores in California, Texas, Arizona and Nevada. Number Holdings, Inc., the parent company…

Canada Goose said Tuesday that it will cut about 17 percent of its corporate workforce, reports CNBC. This announcement follows a string of other retailers that have laid off employees this year as consumers continue to pull back on discretionary spending. The cuts will affect staff at Canada Goose’s corporate headquarters in Toronto, which had…

Target will double its bonus payments to salaried employees this year, as the big-box retailer’s profits recover from a bumpy nearly two-year stretch, reports CNBC. In a statement, Target said the annual bonus payout is based on how the retailer performs against sales and profit goals set at the beginning of the fiscal year. Salaried…

Joann, the 81-year-old fabric and craft retailer, has filed for bankruptcy as it struggles with customers cutting back on discretionary spending. In a statement released on Monday, the Ohio-based company said it filed for Chapter 11 bankruptcy protection and has secured $132 million in funding with most of its financial stakeholders that helps reduce its…

Kevin Plank, the founder of Under Armour, is returning to the helm of the Baltimore-based athletic wear maker, the company announced in a Wednesday afternoon press release. Plank is set to be president and CEO starting April 1. He will succeed Stephanie Linnartz, who had been in the position for little more than a year.…

Estée Lauder is cutting 3 percent to 5 percent of its global workforce as part of a restructuring program that aims to increase profits and become more nimble in a challenging international environment, reports ABC News. The layoffs were announced Monday as the New York cosmetic giant reported falling profits and revenue in the second…

Levi Strauss & Co. is planning to reduce its corporate workforce 10 percent to 15 percent during the next six months as part of its “productivity initiative” to drive long-term growth. The initiative, a two-year program named Project FUEL, is designed to accelerate the execution of Levi's brand-led and direct-to-consumer first strategies while fueling long-term…

Retail layoffs are hitting especially hard recently. Macy’s is laying off about 3.5 percent of its total headcount, which amounts to roughly 2,350 employees, and the iconic department store is closing five locations. Also last week, online furniture seller Wayfair said it is cutting about 1,650 jobs, or 13 percent of its global workforce. The Wall…

Let’s face it: The holidays were stressful, involving significant amounts of both travel and planning — whether that be for the aforementioned travel or for shopping, gifting, entertaining or giving thanks. But add to that list one more item imparting more than its fair share of stress this year: the rising cost of living. That…