Management
March 2, 2020 at 4:00 pm
Hudson’s Bay Co. (HBC) said last week that it won shareholders’ approval to become a private company owned by the group of continuing shareholders led by HBC Governor and Executive Chairman Richard Baker. Other shareholders will get CA$11 ($8.23) per share in cash in the deal, which is subject to customary closing conditions, including court approval.…
February 27, 2020 at 1:33 pm
Despite uncertainty from the coronavirus, presidential election and lingering trade war, the National Retail Federation (NRF) forecasts that retail sales will increase between 3.5 percent and 4.1 percent to more than $3.9 trillion in 2020, it announced in a press release yesterday. Matthew Shay, NRF president and CEO, said in the press release that consumers continue…
February 18, 2020 at 9:42 am
Pier I Imports has filed for Chapter 11 bankruptcy and said it already has the approval of its lenders to pursue a sale of the company. The home furnishings retailer is in the process of closing up to 450 stores, including all of its stores in Canada. Pier 1 has received about $256 million in debtor-in-possession financing…
February 17, 2020 at 1:53 pm
Francesca's Holdings Corp. last week announced the appointment of Andrew Clarke as president, chief executive officer and member of the board, effective March 9. Clarke replaces Michael Prendergast, who has served as interim CEO for the past year. Clarke, who was most recently president of Ascena Retail apparel brand Loft, has 25 years of retail experience, much of it in…
February 14, 2020 at 9:01 am
Walmart said it will discontinue its personal shopping service, Jetblack, on Feb. 21. The announcement follows a report by The Wall Street Journal that the company ended talks to spin off the business and will now restructure it. Walmart had conversations with potential investors, including Microsoft, United Parcel Service and venture capital firms, according to the report. Jetblack notified customers…
February 13, 2020 at 2:08 pm
Kohl's is laying off 250 workers as it restructures parts of its business following a dismal holiday season, reports CNBC. As part of the job cuts, Kohl’s is getting rid of a layer of regional store leadership roles as well as restructuring teams in its merchant organization. The changes will help Kohl’s streamline communications and eliminate the…
February 12, 2020 at 1:31 pm
In this webinar, our expert speakers will provide insights into how to make the most of your investment in cross-border e-commerce.
February 11, 2020 at 10:12 am
Just two-and-a-half years after it launched, online store Brandless is shutting down. The company, which sold inexpensive, simply branded household, personal care, baby, and pet products, is no longer taking orders and has laid off 70 people. The last 10 employees still working at the company will process the remaining few customer orders and “evaluate any…
February 10, 2020 at 2:41 pm
Beauty products subscription service Birchbox plans to lay off 25 percent of its workforce to reduce costs. At least 44 employees will be affected in New York, out of a total workforce of 94, according to a notice filed with the state labor department. As part of the costs reduction plan, Birchbox also plans to move some…
February 6, 2020 at 12:00 pm
With near record-low unemployment rates, most U.S. businesses are struggling to retain employees, and perhaps no industry is more challenged in this area than retail. The average turnover rate in the retail industry is just above 60 percent, according to the National Retail Federation. To combat high turnover rates, retailers are offering employees perks such as PayActiv Benefit, an employer-sponsored…
