Management
July 3, 2018 at 11:49 am
Last month, Total Retail released its 2018 Salary Benchmark Report, offering retailers and employees insight into the compensation packages of today's retail executives. The report was based on a survey sent to Total Retail's audience, which yielded some interesting insights about the salaries of retail executives, including that a higher title doesn't always equate a…
June 27, 2018 at 12:12 pm
The General Data Protection Regulation (GDPR) is a popular topic among businesses around the globe. The law was originally introduced and adopted into place on April 27, 2016, and allotted a two-year post-adoption grace period for businesses to meet compliance regulations. The formal enforcement date for fining non-compliant organizations took effect on May 25, 2018. Through…
June 26, 2018 at 12:17 pm
Total Retail recently released its 2018 Salary Benchmark Report, which offers retail employees and employers a comprehensive look into salary trends within the industry. A survey sent to Total Retail's audience yielded some interesting data regarding the salaries and financial benefits of today's retail executives, perhaps none more so than the difference in total compensation…
June 20, 2018 at 1:04 pm
Starbucks will close 150 poorly performing company-operated stores next year, about three times as many as it typically closes. The affected stores are located in mostly urban areas that are densely populated with Starbucks locations. The company told investors late Tuesday that it expects same-store sales to grow just 1 percent for the quarter that…
June 18, 2018 at 2:26 pm
Rent-A-Center, a company that rents out furniture and electronics and also allows customers the ability to own the products through a lease program, said today that it will be acquired by an affiliate of buyout firm Vintage Capital Management in a deal valued at $1.37 billion, including debt. The affiliate, Vintage Rodeo Parent, will buy the company…
June 14, 2018 at 12:36 pm
Lands’ End is distancing itself from struggling Sears Holdings Co. by shuttering more of its in-store shops and instead opening more smaller standalone locations. Since the apparel company split from Sears in 2014, it has been phasing out its sites in the department store chain.It's planning to decrease its number of Sears shops to 132…
June 7, 2018 at 2:19 pm
The Hudson’s Bay Co., continuing to suffer same-store sales declines across most of its divisions, is trimming costs by closing 10 Lord & Taylor stores, including its flagship location on Fifth Avenue in Manhattan. HBC revealed the planned closures as it reported a net loss of 400 million Canadian dollars, or $308 million, for the…
June 6, 2018 at 1:38 pm
Howard Schultz, Starbucks executive chairman and former CEO credited with the brand's extreme growth, is stepping down from his position at the end of the month — with an eye toward a potential career in politics. The New York Times reports that while Mr. Schultz, 64, typically bats away speculation about his political ambitions with an…
June 4, 2018 at 1:51 pm
Nearly 130,000 Costco employees are poised to get a pay raise starting on June 11. According to the Seattle Times, in a May 31 call with investors, CFO Richard Galanti said that the starting wage for Costco employees would go up $1 to $14 or $14.50 per hour, while other warehouse employees would see hourly raises…
May 31, 2018 at 2:13 pm
Sears Holdings said Thursday it will be closing more than 70 stores in 2018 as its sales continue to decline. Earlier this year, the retailer identified 100 unprofitable Sears and Kmart stores, and announced today that it will be closing 72 of these stores "in the near future." In a statement announcing its fiscal first-quarter results, Sears said:…
