Management
January 31, 2019 at 2:37 pm
The Michaels Companies announced this week that it will close all of its Pat Catan’s stores in the fourth quarter of fiscal 2018 (March). Pat Catan’s is a retailer of arts and crafts in Ohio and surrounding states, including Pennsylvania, Michigan and West Virginia. Michaels intends to rebrand 12 of the 36 Pat Catan’s stores…
January 31, 2019 at 12:31 pm
FAO Schwarz, the iconic toy retailer, closed its last store, the New York City Fifth Avenue flagship, in 2015. Dead and gone? Not quite. The buyer of the FAO intellectual property (purchased in 2016), ThreeSixtyGroup, opened a new flagship in New York’s Rockefeller Plaza on Nov. 16, 2018 to much fanfare. Will this brand revival…
January 29, 2019 at 1:45 pm
Kohl’s announced a strategic collaboration with WW — the new Weight Watchers, a global wellness company — to bring together both companies’ shared passion to empower families and communities to live healthier lives. Kohl’s and WW will pilot several health and wellness offerings throughout 2019 to help customers and Kohl’s associates on their wellness journeys, including the debut…
January 28, 2019 at 11:56 am
Things Remembered, a retailer of engraved gifts and keepsakes, is preparing to file for bankruptcy protection and will shutter most of its roughly 400 stores, people familiar with the matter said last week. The preparations show how a debt restructuring that Things Remembered underwent in 2016 wasn't enough to spare it from the wave of bankruptcies…
January 21, 2019 at 11:56 am
J.Crew, still without a CEO, has also lost a chairman: former CEO Mickey Drexler. The retailer announced Friday that Drexler has officially retired from his role as chairman, which he's had since stepping down as CEO in June 2017. Drexler, who joined J.Crew in 2003, has been credited with turning it into the massive, iconic brand…
January 18, 2019 at 11:58 am
Signet Jewelers, the owner of the Kay Jewelers, Zales and Jared chains, reported weak holiday sales and hinted that it will speed up store closings. Sales at stores open for at least 12 months fell 1.3 percent in the nine weeks ended Jan. 5. Signet pointed to “reduced traffic during key December gifting weeks.” Its higher…
January 17, 2019 at 3:15 pm
Shopko, the general merchandise retailer with stores located throughout the Central, Western and Pacific Northwest regions of the U.S., announced that it, along with its subsidiaries, has filed for Chapter 11 bankruptcy protection. In its filing, Shopko cited excess debt and ongoing competitive pressures as the reason for the measure. Shopko reported assets of less than $1…
January 16, 2019 at 1:14 pm
Sears Holdings reached a deal with its Chairman Eddie Lampert and his hedge fund ESL Investments early Wednesday, according to a source familiar with the situation, reports CNBC. The $5 billion agreement will leave roughly 400 stores open and keep the iconic retailer in business, saving close to 50,000 jobs. This comes after Sears rejected…
January 16, 2019 at 12:06 pm
In a wide-ranging discussion this week at the National Retail Federation’s Big Show in New York City, Marvin Ellison, president and CEO of Lowe’s, offered insights into his plans for rebuilding the home improvement retailer, shared advice for the next generation of retail leaders in the audience, and reflected on how retail has changed his…
January 15, 2019 at 12:47 pm
In a keynote presentation and interview at the National Retail Federation (NRF) Big Show in New York City, Target Corp. Chairman and CEO Brian Cornell detailed how the general merchandise retailer has followed a plan of reinvesting in the business, from people to technology to product, and the benefits it’s now realizing as a result.…
