Management
June 2, 2020 at 4:24 pm
Online retailer and styling service Stitch Fix said Monday that it plans to lay off 1,400 stylists based in California between now and the end of September, reports CNBC. The company plans to hire 2,000 stylists in other U.S. locations like Dallas, Minneapolis, and Austin, Texas, between the summer of 2020 and into next year. Laying…
May 29, 2020 at 2:04 pm
We’re living in an unprecedented time — and it’s drastically affecting retail employees. After all, none of us expected to live through a global pandemic that would uproot economies around the world. Retail employees are working harder than ever, and many must also deal with reduced hours, layoffs, or furloughs. That makes it all the…
May 27, 2020 at 6:55 pm
Discount retailer Tuesday Morning filed for Chapter 11 bankruptcy this week and plans to shutter 230 of its stores due to the coronavirus pandemic, CNBC reported. Tuesday Morning said it plans to permanently close a third of its nearly 700 stores and exit Chapter 11 in the early fall with about 450 locations. During the…
May 27, 2020 at 4:27 pm
Retail has been facing critical challenges for years: the shifting of power to the customer, the accelerated growth of digital, a surplus of square footage, and balance sheets weakened by years of private equity transactions that didn’t deliver. The industry was already poised for a Darwinian weeding out before the outbreak of COVID-19, but now…
May 20, 2020 at 7:05 pm
Pier 1 Imports announced this week that it's seeking bankruptcy court approval to shut down its business permanently after it wasn't able to find a buyer, CNBC reported. The home goods retailer said in a press release that it has been trying to find a buyer for months which would continue operating the business, but…
May 18, 2020 at 7:24 pm
The Bright Side of Retail, a weekly feature launched during the COVID-19 pandemic, features a curated collection of positive stories on how the retail industry is responding to the crisis. Total Retail wishes to inspire its audience during this pandemic by reporting on the positive stories of how retailers and brands are doing good for…
May 18, 2020 at 5:13 pm
Retailers are facing an uphill battle. The original Paycheck Protection Program (PPP) reached its $349 million cap in less than two weeks, and the replenished program has caused chaos, leaving many retailers scrambling to find ways to create revenue and survive during this downturn. For those that were lucky enough to have secured a loan,…
May 17, 2020 at 4:48 pm
J.C. Penney filed for bankruptcy protection on Friday with plans to permanently close some stores and also explore a possible sale. The department store chain, known for selling family apparel, cosmetics and jewelry at 850 locations, said it reached an agreement with existing lenders for $900 million of debtor-in-possession financing to aid operations while it navigates…
May 14, 2020 at 7:04 pm
J.C. Penney is reportedly days away from filing bankruptcy and scrambling to get enough financing to allow it to continue to operate under chapter 11 proceedings. It has laid off or furloughed more than 80,000 of its employees and missed payments on two debt payment deadlines. It may also be withholding rent payments at some…
May 13, 2020 at 7:10 pm
During the Women in Retail and Total Retail Virtual Exchange, held on April 28, Chris Rowland, president and CEO of Pet Supplies Plus, participated in an interview that touched on a variety of topics, from changes to brand messaging during COVID-19 to some positive ways he thinks the current climate will reshape retail. In this video clip…
