Management
January 7, 2020 at 10:19 am
Pier 1 Imports said yesterday that it intends to close up to 450 locations, or almost half its fleet of 942 stores, as it unexpectedly reported quarterly earnings amid bankruptcy rumors. Pier 1′s losses have been mounting as its sales decline. And this latest quarter was no exception. Its third-quarter loss widened from a year…
January 6, 2020 at 1:57 pm
Hudson’s Bay Co. (HBC) announced on Jan. 3 that it has entered into an agreement with a group of existing shareholders led by HBC chairman Richard Baker to purchase HBC common shares held by the company’s minority shareholders for $11 Canadian dollars per share. HBC's largest minority shareholder, The Catalyst Capital Group, has voted in favor of the go-private…
December 23, 2019 at 12:38 pm
2019 was certainly a big year for retail news. Here's a look at the top news stories published by Total Retail in 2019, ranked by number of page views.
December 18, 2019 at 11:12 am
Bed Bath & Beyond announced the departure of six senior executives from the company on Tuesday, reports CNBC. The extensive change in leadership is the first major move by the retailer's new CEO, Mark Tritton, who is known for his successful run leading merchandising at Target. Tritton joined Bed Bath & Beyond in early November.…
December 17, 2019 at 10:08 am
Labor compliance issues have long plagued the retail supply chain, from sourcing to brick-and-mortar employee operations. Consider the tragedy at the Triangle Shirtwaist Factory in 1911, perhaps one of the most well-known labor compliance fiascos in the retail industry’s history, which was a direct result of abhorrent worker conditions. Thankfully, compliance issues of this caliber…
December 16, 2019 at 1:21 pm
Bonobos founder Andy Dunn said on Thursday he would leave Walmart in January, more than two years after the world’s largest retailer bought his online menswear brand for $310 million. In a LinkedIn post, Dunn, currently the senior vice president of digital consumer brands at Walmart U.S. eCommerce, said that when he joined Walmart in the…
December 9, 2019 at 2:00 pm
Clothing and accessories rental subscription service Rent the Runway has teamed with Marriott International’s W Hotels brand to launch a rental experience at four locations: W Aspen in Colorado, W South Beach in Florida, W Washington D.C., and W Hollywood in California. RTR Closet Concierge, which launched on Dec. 5, enables visitors to these hotels…
December 6, 2019 at 9:57 am
Linda Heasley has stepped down from her roles as president, chief executive officer and member of the board with J.Jill after a year and a half with the brand. The news coincides with the report of J.Jill's disappointing third quarter results, which saw a comparable sales decrease of 7 percent and net sales decrease of…
November 26, 2019 at 12:21 pm
New Jersey-based arts and crafts retail chain A.C. Moore will close its 145 stores, its parent company Nicole Crafts announced in a news release yesterday. Up to 40 of the closing locations will become Michaels. According to the company, plans for the closings will be shared in the upcoming weeks and the A.C. Moore website will stop accepting online…
November 18, 2019 at 3:56 pm
Retail sales in October increased 0.2 percent seasonally adjusted over September and were up 4.2 percent unadjusted year-over-year, the National Retail Federation (NRF) said on Friday. The numbers exclude automobile dealers, gasoline stations and restaurants. October’s results make up for most of the 0.3 percent month-over-month decline seen in September and build on September’s year-over-year…
