Management

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…

The COVID-19 pandemic continues to take a significant toll on the economy worldwide, and the retail sector has been especially hard hit. While many retailers are still in the reactive phase of store closures due to the drastic shift in consumerism, there's an imperative need to outline a plan that will enable retailers to adapt…

Three high-profile, but struggling retailers — J.Crew Group, Neiman Marcus Group, and J.C. Penney Co. — may be preparing to file for Chapter 11 bankruptcy protection by mid-May, according to several reports. Here are some details: J.Crew is working to secure $400 million to fund operations in bankruptcy. The privately held retailer was already struggling with a heavy debt load, but its…

Welcome to this week's Retail Resources blog post, a curated list of the best content and resources I've seen over the past week that I hope will help you navigate through the coronavirus pandemic. This week I offer information about leadership, interesting data, employment information, and fun stuff that will hopefully help improve your spirits!…

Chico’s FAS has promoted division president Molly Langenstein to president and CEO. The appointment of Langenstein, who had been president of the company’s two largest brands, Chico’s and White House Black Market, since August, is effective June 24. She will be replacing Bonnie Brooks, president and CEO of Chico's FAS, who joined the company last…

Retail is a social business, so it’s not surprising that many of us are going stir-crazy while furloughed and stuck at home. If your district or store team is your second family, you’re probably looking for ways to feel a little less isolated. Here are some fun ideas to stay engaged and help your teams…

Neiman Marcus Group is preparing to file for bankruptcy protection this week, becoming the first major U.S. department store operator to succumb to the economic fallout from the coronavirus outbreak, people familiar with the matter told CNBC. Neiman Marcus, which is held by Ares Management Corp. and the Canada Pension Plan Investment Board (CPPIB), is…

Welcome to this week's Retail Resources, a blog created to offer retailers the most relevant information and resources from the past week to help you lead during this challenging time. If there's anything you would like me to share in a future post, please let me know by dropping me a line at mcampanelli@napco.com. Legislative Updates…

Tapestry, Inc. announced plans to lay off 2,100 part-time store associates across its Coach, Kate Spade, and Stuart Weitzman brands, effective April 25, reports Footwear News. Each employee will receive a one-time payment of $1,000. The holdings company also said that it would extend salary and benefits to its retail team across North America until May 30, at which time…