Management
March 19, 2018 at 4:11 pm
Some of the largest brands in retail today sent a letter to President Trump outlining their concerns about the detrimental impact broadly applied tariffs could have on American families. According to the letter, members and the membership teams of the National Retail Federation, Retail Industry Leaders Association, and American Apparel & Footwear Association fought long and hard…
March 19, 2018 at 1:43 pm
As forecast, girl's accessories retailer Claire’s Stores announced today that it has filed for Chapter 11 bankruptcy protection in U.S. bankruptcy court in Delaware. Claire’s, which is owned by private equity firm Apollo Global Management LLC , said it plans to emerge from Chapter 11 in September with more than $150 million of liquidity and…
March 16, 2018 at 11:22 am
In this episode of Retail Right Now, Total Retail's Joe Keenan and Caitlin Sullivan discuss the recent surge in retailers announcing store closures (Toys"R"Us, Foot Locker, Abercrombie & Fitch) and bankruptcy filings (Claire's Stores, The Walking Co.), and what this means for the future of brick-and-mortar retail.
March 15, 2018 at 10:31 am
Dick's Sporting Goods CEO Ed Stack said it's "too early to tell" how the company's decision to pull assault rifles from stores will affect the company's financial performance over the long term, but it won't be good. The Pittsburgh-based company was one of the first major retailers to take a firm stance on gun age restrictions,…
March 13, 2018 at 1:29 pm
DSW Inc. announced today a plan to shutter its Ebuys division. DSW acquired the e-commerce off-price footwear and accessories company in February 2016 for $62.5 million upfront, plus additional payments. After a strategic review of the Ebuys business, DSW has chosen to liquidate all inventory and assets. It expects that process to be completed in early 2018. Total…
March 13, 2018 at 12:55 pm
Ikea announced plans on Tuesday to roll out a furniture assembly program with labor marketplace TaskRabbit nationwide. Customers can book a "tasker" through TaskRabbit to assemble their Ikea furniture for a flat price depending on the size of the item. The service is currently available in New York City and San Francisco, and will be released in…
March 12, 2018 at 12:43 pm
Fashion accessories retail chain Claire's Stores is preparing to file for bankruptcy in the coming weeks, people with knowledge of the plans told Bloomberg last week. The company is reportedly closing in on a deal where control would pass from Apollo Global Management LLC, which owns Claire's, to lenders including Elliott Capital Management and Monarch…
March 12, 2018 at 11:57 am
Blue Pool Capital, a financial firm that principally invests the wealth of Alibaba founders Jack Ma and Joe Tsai, has invested $20 million into the women’s clothing rental business Rent the Runway, according to a report in Recode last week. Reportedly, the funding…
March 7, 2018 at 12:35 pm
Paul Raines, 53, the longtime chief executive of GameStop who stepped down in November, died Sunday after a long battle with cancer. GameStop CEO Mike Mauler said in a statement Monday that the company is "profoundly sad to learn of the passing or our friend and former chief executive officer J. Paul Raines." Raines, who was named…
March 5, 2018 at 1:08 pm
Foot Locker is the latest retailer to reduce its store count in an effort to cut costs, according to a March 2 Business Insider report. More specifically, the retailer plans to close approximately 110 stores this year, mostly those that are considered underperforming locations. This latest round of store closures augments the 147 stores that Foot Locker closed…
