Management

The e-commerce business and intellectual property of omnichannel specialty retailer RTW Retailwinds were sold at bankruptcy auction last week to investment firm Saadia Group for $40 million plus assumption of certain liabilities, including honoring gift cards. Assets include websites run by the apparel company, which was previously known as New York & Co. Those sites include www.nyandcompany.com,…

In this unpredictable world of 2020, it’s critical that retailers drive customer engagement and focus on customer satisfaction. COVID-19 has turned our lives — personal and professional — upside down. The good news is that the craziness of this year has taught us that we're all capable of change, even rapid change. Yet the road…

Following Tony Hsieh’s decision to step down as CEO of Zappos after 21 years, Kedar Deshpande has taken the reins at the Amazon-owned company. Importantly, Deshpande — who joined Zappos in 2011 — understands the unique corporate culture and company values that Zappos is well known for. He will lead Zappos as the retailer continues to expand…

In the first weeks of the COVID-19 pandemic, retailers raced to adapt their businesses to the new reality of shuttered stores and shelter-in-place orders. Now, the nature of retail has changed — perhaps permanently — and the focus has shifted. A recession is looming, and the pressure is on. Does your brand have what it…

Jeff Wilke, the chief executive of Amazon.com's consumer business, said on Friday he planned to retire early next year after more than two decades with the company. The news was announced via an internal memo posted to the company’s corporate blog. WIlke was one of two chiefs of specific businesses at Amazon who report directly to Jeff…

Footwear retailer Payless has relaunched into the North American market after filing for Chapter 11 bankruptcy and shuttering over 2,000 stores in early 2019. The discount shoe chain announced in a press release that with this relaunch it's unveiling an immersive e-commerce platform as well as new brick-and-mortar retail concept stores. In the release, Payless…

Amazon.com is in discussions with mall owner Simon Property Group about using some closed J.C. Penney and Sears stores in its malls for fulfillment centers, The Wall Street Journal reported on Sunday. The talks have been ongoing for months, the sources said. “For Amazon, more fulfillment centers near residential areas would speed up the crucial last mile of delivery,”…

The retail industry has seen significant damage as a result of unprecedented supply chain disruptions, wavering consumer confidence, and technological gaps for those making the leap from brick-and-mortar to digital storefront. Many retailers had just started to return to normalcy earlier this year, following a two-year trade war — and a promising Phase One deal…

CVS Health is focused on providing services that are in high demand as the pandemic puts health care top of mind, CNBC reported. The pharmacy chain has opened more than 1,800 drive-thru sites for COVID-19 testing, launched a new B-to-B testing program for colleges and corporations, and is preparing to administer flu shots this coming…

Lord + Taylor, one of America's oldest department stores, has filed for bankruptcy, joining a growing list of stores slammed by the coronavirus pandemic. In addition, Tailored Brands, the parent company of Men's Wearhouse and JoS. A. Bank, also filed for bankruptcy. Lord + Taylor, which was sold to rental clothing company Le Tote last…