Management

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…

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…

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…

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,…

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…

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…

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…

Maybe you’re a nonessential retailer cautiously opening pockets of stores across the country. Maybe you’re an essential retailer frantically trying to adjust to this “new normal” while keeping customers and employees safe. No matter which side of the spectrum you’re on, chances are you’re probably thinking about one thing: checklists. Retailers love checklists. Store audits,…

Neiman Marcus Group on Thursday became the first major department store chain to file for bankruptcy protection during the coronavirus pandemic. It’s a stunning fall that follows the collapse of Barneys New York late last year and comes as bankruptcy rumors persist for chains like Lord & Taylor and J.C. Penney. In a statement, the company said it received $675 million…

As coronavirus maintains its hold on us, we’ve continued to hear words and phrases like “uncharted waters,” “unpredictable,” and “uncertain.” A recent Gartner poll revealed that 34 percent of businesses expect reduced levels of business operations due to COVID-19, and the retail industry is no exception. Sales were down 8.7 percent in March per the…