Management
April 5, 2019 at 12:04 pm
Sears is opening stores again. The department store chain that has closed hundreds of Sears and Kmart locations over the past few years announced this week that it will open three “Sears Home & Life” stores in May. The stores will be located in Anchorage, AK; Lafayette, LA; and Overland Park, KS. The new stores will offer…
April 4, 2019 at 11:48 am
Target Corp will raise its U.S. minimum wage to $13 an hour in June, from $12 currently, increasing its payroll costs and putting new pressure on rival Walmart to attract retail workers in a tight labor market. Minneapolis-based Target employs over 300,000 workers and runs 1,845 stores in the United States. The company is investing…
April 2, 2019 at 11:06 am
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…
April 1, 2019 at 2:18 pm
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…
March 25, 2019 at 12:57 pm
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.…
March 22, 2019 at 1:16 pm
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…
March 21, 2019 at 12:30 pm
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…
March 21, 2019 at 11:05 am
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…
March 14, 2019 at 12:27 pm
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…
March 13, 2019 at 10:46 am
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…
