Management

The ailing Italian luxury fashion house Roberto Cavalli has shuttered its North American operations, hours after the brand said it was seeking a deal with creditors to stave off a bankruptcy filing and less than a week after the departure of its creative director, Paul Surridge. On Friday, the brand confirmed that it intended to…

Bed Bath & Beyond laid off about 150 of its 65,000 employees last week, CNBC reported. Anonymous sources familiar with the matter told CNBC that a little less than 50 workers, largely in the field-support team, which helps staff stores at namesake Bed Bath & Beyond stores, lost their jobs. In addition, fewer than 100 department and…

Ascena Retail Group announced today that it’s selling a majority interest in its maurices discount apparel brand to an affiliate of private equity firm OpCapita for approximately $300 million, according to a company press release. Ascena expects to receive $200 million in cash after expenses from the deal, as well as a minority interest in maurices.…

Rent the Runway, the online service that provides designer dress and accessory rentals, announced on Thursday a $125 million investment co-led by Franklin Templeton Investments and Bain Capital Ventures that values the company at $1 billion. The financing is the largest funding round Rent the Runway has raised to date, and will bring total equity raised to…

Pier 1 Imports interim CEO Cheryl Bachelder is reorganizing the home furnishings retailer's corporate staff in Fort Worth, Texas to cut costs, "better align its operations with its long-term strategy" and become more agile. It's not clear how many are losing jobs in the reorganization or how many remain in the Fort Worth office, which…

Kum & Go is a 24/7 convenience store chain that operates 400-plus locations in the Midwest. Like many convenience store businesses that are open around the clock, Kum & Go was challenged with staffing issues. In particular, store general managers were being forced to pick up uncovered shifts when employees called out and didn't have…

Walmart is making its own tablet in a move that would pit it against other tech giants and retailers such as Apple and Amazon.com. The world’s largest retailer plans to introduce an inexpensive, kid-friendly tablet computer under its ONN store brand, part of a broader redesign of its electronics department, according to a report on Bloomberg.com. Walmart’s ONN…

Rite Aid said on Tuesday its CEO would exit as part of a revamp of its leadership, and that it would cut about 400 corporate positions. Camp Hill, Pennsylvania-based Rite Aid said the layoffs will affect more than 20 percent of corporate positions located at the company’s headquarters and across field operations. The company expects annual…

Ross Stores will be opening 100 new store locations in 2019. So far this year, the Dublin, Calif. off-price department store chain has opened 22 Ross Dress for Less and six dd's Discounts stores across 12 different states. The new locations are part a company plan to add approximately 100 new stores, 75 Ross and 25 dd's…

Teen apparel retailer Abercrombie & Fitch said last week that it plans to close up to 40 stores by next February, with the majority of closures slated in the U.S.  Abercrombie, which also owns Hollister, has been closing stores regularly over the years. For example, over the last eight years, it has shuttered about 475…