Management
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…
November 15, 2019 at 10:38 am
Rent the Runway, the clothing rental platform now valued at $1 billion, is expanding its partnership with Nordstrom. The two companies tell Fast Company exclusively that they will be blending their capabilities along many dimensions, including creating new products together and incorporating Nordstrom inventory into the Rent the Runway system. For Rent the Runway customers, the most immediate…
November 8, 2019 at 11:02 am
The parent company of Sears and Kmart, Transformco, has secured a $250 million lifeline and announced plans yesterday to close 96 more stores, CNBC reported. This will leave the business with 182 store locations. Owner Eddie Lambert, who bought Sears out of bankruptcy court for $5.2 billion earlier this year, is one of the lenders…
November 1, 2019 at 9:48 am
Best Buy has launched a $2.5 million endowed scholarship at the University of Minnesota's Carlson School of Management to help fund four years of college for up to 10 students a year, starting next fall. It's one of the company's largest gifts in higher education. The scholarship is targeted to students who have gone through…
October 31, 2019 at 1:07 pm
Have you heard of the Vendors in Partnership (VIP) Awards? The awards program was created to celebrate innovation, empathy and excellence among the retail solution provider community. In addition to celebrating great product solutions, the companies that are recognized are those that are willing to make changes that are meaningful in creating a better partnership…
October 29, 2019 at 3:17 pm
With The New York Times reporting that nearly 6,000 storefronts will shutter in 2019, how can retailers avoid being added to the growing total? For many, taking on the “Amazon effect” will be critical. The “Amazon effect” refers to the ongoing disruption in retail and rising consumer expectations driven by e-commerce. Some of the most…
October 28, 2019 at 2:36 pm
French luxury group LVMH Moët Hennessy Louis Vuitton confirmed Monday that is has offered to buy Tiffany & Co. for $14.5 billion in cash, sending shares in the New York jeweler soaring. The purchase would add another household name to LVMH's portfolio of upscale brands, including Christian Dior, Fendi and Givenchy, as well as watchmaker…
October 25, 2019 at 12:48 pm
In this episode of Retail Right Now, Total Retail's Joe Keenan and Kristina Stidham discuss the rebirth of Toys"R"Us, including the news earlier this month that its e-commerce website will be powered by Target. For the toy category, the re-emergence of Toys"R"Us, both online and offline, brings another competitor with a strong, iconic brand name…
