Management
February 18, 2019 at 2:26 pm
Amazon.com, the e-commerce giant helmed by Jeff Bezos, the world’s richest man, paid no federal taxes on profit of $11.2 billion last year, according to an analysis of the company’s corporate filings by the Institute for Taxation and Economic Policy (ITEP), a progressive think tank. The news of the report was first publicly reported in The Washington Post,…
February 15, 2019 at 2:06 pm
Outdoor retailer Recreational Equipment, Inc., or REI, says its president and CEO Jerry Stritzke has resigned for failing to disclose a personal relationship with the head of another organization in the outdoor industry, according to a company statement. REI's board accepted Stritzke’s resignation “following an investigation into the facts and circumstances surrounding a personal and…
February 14, 2019 at 2:51 pm
Amazon.com on Thursday canceled its plans to build an expansive corporate campus in New York City after facing an unexpectedly fierce backlash from some lawmakers and union leaders, who contended that a tech giant didn't deserve nearly $3 billion in government incentives. The retail giant, as part of its extensive search for a new headquarters, had…
February 12, 2019 at 2:53 pm
Payless Inc. is preparing for its second trip to bankruptcy court with a plan that could drastically shrink the size of the discount shoe chain, according to people with knowledge of the matter. The retailer is seeking a loan to get through bankruptcy proceedings and discussing plans to shutter a significant portion, and potentially all, of…
February 11, 2019 at 2:14 pm
Toys”R”Us has officially emerged as Tru Kids Inc., a new company, with new leadership and a new vision, according to a press release published today. Effective Jan. 20, Tru Kids Inc. doing business as Tru Kids Brands, became the parent company of Toys”R”Us, Babies”R”Us, Geoffrey and more than 20 consumer toy and baby brands. Tru Kids is…
February 8, 2019 at 2:47 pm
Sears Holdings got a new lifeline yesterday as its sale to company chairman Eddie Lampert, through an affiliate of his hedge fund ESL Investments, was approved by a federal bankruptcy court judge, according to CNBC. ESL has said the $5.2 billion deal to buy Sears will save 425 stores and roughly 45,000 jobs. While an initial…
February 7, 2019 at 3:31 pm
Retailers today can be categorized into survivors and thrivers, and more than half (54 percent) of traditional retailers are only surviving — breaking even, according to BDO’s Retail Rationalized Survey of 300 C-suite executives. Thrivers, by comparison, are profitable, making smart bets and focused on standing out from the competition. As 2019 unfolds, retailers will be trying to differentiate from the competition by improving customer experience, investing in digital technology, and even partnering with startups. But the proactive thrivers will be better positioned to navigate the much-anticipated market correction.
February 7, 2019 at 11:47 am
Gen Zers are digital natives, and companies that provide them with the right tools can help improve business operations and efficiency.
February 4, 2019 at 1:44 pm
Women’s apparel retailer Charlotte Russe Holdings on Sunday voluntarily filed for Chapter 11 bankruptcy protection.
February 1, 2019 at 12:35 pm
Francesca's CEO Steve Lawrence has resigned as the struggling Houston-based retailer explores "strategic alternatives," including a potential sale. The women's apparel and accessories chain announced Thursday it has appointed Michael Prendergast as its interim chief executive effective immediately, following Lawrence's resignation Wednesday. Prendergast is a senior director in the private equity performance improvement division of…
