Management

Dozens of Salt Life retail stores across the country are closing following the company's recent purchase. Hilco Consumer-Retail Group, one of the new owners of the brand, announced Tuesday that it will be closing all 28 retail locations. Liquidation is underway as new ownership plans to restructure the fashion company and lay out a plan for…

“The Gartner®1Q24 Global Labor Market Survey found that 44 percent of workers worldwide have a hybrid work model, outnumbering the 39 percent of workers who work full-time in the office full-time.” * Hybrid work is a model that combines in-office and remote work. Some companies set specific days for on-site work, while others allow employees to…

Starbucks announced Tuesday it’s replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol, CNBC reports. Narasimhan’s departure is effective immediately. Starbucks CFO Rachel Ruggeri will step in as interim chief executive until Sept. 9, when Niccol officially assumes the top job. The coffee giant’s performance has struggled this year, hurt by weak sales in the…

Since Amazon.com started selling books online in 1995, the world has embraced the benefits of e-commerce. In 2023, global retail e-commerce sales reached an estimated $5.8 trillion. It's projected that sales will reach over $8 trillion by 2027. While there’s a lot that has changed from those early days of Amazon selling books, what hasn’t…

Several research studies have looked at how diversity, equity and inclusion (DEI) strategies that prioritize fairness and equal opportunity, and promote a workplace culture that values diversity, empowers individuals, and fosters a sense of belonging, are impacting today’s workplace. A 2023 study by Pew Research Center found a majority of employed U.S. adults (56 percent)…

Discount retail chain Big Lots may close up to 315 stores under new credit and loan terms, according to an 8-K filed with the U.S. Securities and Exchange Commission on Friday. In a public SEC filing in June, the Ohio-based retailer, which has locations in 48 states, said it planned to close 35 to 40…

Amazon Prime Day is the mid-summer shopping event that serves as a litmus test of what to expect for the Q4 holiday season. Every July, Prime Day offers a valuable “dress rehearsal” for upcoming critical shopping periods such as back-to-school and the holidays. This year, Prime Day hit record-breaking sales, with shoppers spending $14.2 billion…

New England clothing fixture Bob's is closing permanently, which is sad news for employees, customers, and other stakeholders. The Northeast store, which has been around for 70 years, filed for Chapter 11 bankruptcy in June. With Bob's unable to get the required funds to keep its 21 brick-and-mortar stores operational, the company had to close…

Tractor Supply Co. communicated via a press release last week that it is eliminating diversity, equity and inclusion roles; withdrawing carbon emission goals; and walking back support for the LGBTQ+ community as part of sweeping changes to environmental, social and governance initiatives. More specifically, the retailer of home improvement equipment, livestock and agricultural supplies for…

Just ahead of Amazon Prime day on July 16-17, Walmart kicked off a competitive, paid-membership war with its Walmart+ Week. So, what's in it for U.S. merchants? As the retail giants prepare for a busy sales period, merchants must strategically position themselves to capitalize on events like Amazon Prime Day. Over two-thirds of U.S. small…