Management
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…
March 12, 2019 at 9:42 am
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…
March 11, 2019 at 2:32 pm
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…
March 8, 2019 at 12:35 pm
Engaged and productive employees are critical to the success of any organization, but retailers in particular are dependent on having the right people in the right place at the right time. When associates don’t show up for work, their absence affects everything from staff morale to customer satisfaction, creating stress and hindering store performance. How…
March 7, 2019 at 2:55 pm
Amazon.com is shutting down all 87 of its U.S. pop-up stores in April, ending the retailer’s years-long experiment with these small shops as it tinkers with an evolving brick-and-mortar strategy, The Wall Street Journal reported yesterday. Amazon has pop-ups inside Whole Foods locations, Kohl's stores and malls around the U.S. The shops let customers try…
March 4, 2019 at 10:51 am
Amazon.com is planning to open a new grocery store chain in an effort to broaden its reach in the retail category, according to a Wall Street Journal report. Sources familiar with the project told WSJ that the online behemoth is planning to open dozens of grocery stores in several major U.S. cities, and the first…
