Management

Foot Locker CEO Mary Dillon on Monday outlined a new long-term strategy to grow the business as the retailer reported a sales decline of 0.3 percent in the fourth quarter. The strategy, dubbed “Lace Up,"  includes plans to expand sneaker culture by creating more sneaker occasions and providing more choice; relaunching the Foot Locker brand and opening new…

In episode 392 of Total Retail Talks, Editor-in-Chief Joe Keenan interviews David Law, senior vice president and general manager of Allen Edmonds, a U.S.-based handmade luxury men’s footwear heritage brand. Listen in as Law provides an overview of the legacy brand (1:00), his professional background and role at Allen Edmonds (2:35), and the factors he believes…

Best Buy announced Tuesday it has struck a three-year deal with Atrium Health, an integrated, nonprofit health system part of Advocate Health, to help enable a hospital-at-home program, reports CNBC. Atrium Health is part of Advocate Health, one of the country’s largest healthcare nonprofits. The consumer electronics retailer will sell devices and its Geek Squad will handle…

The Home Depot on Tuesday said it will spend an additional $1 billion to give its hourly employees a raise, as retailers and restaurants compete for workers, reports CNBC. The home improvement retailer announced the wage investment as it reported fourth-quarter earnings. It didn't disclose the new average wage for employees, but said every market’s starting wage is…

Ever since Josiah Wedgwood first marketed high-end china in the 18th century by seeking the sheen of associating with royalty, brands have sought celebrity endorsements to elevate their products in the public’s eye. But along with the reward of celebrity association comes risk, a lesson once again delivered in 2022 when major consumer brands found…

Bed Bath & Beyond is expecting to receive more than $1 billion in equity from a stock offering it hopes will stave off bankruptcy and liquidation, reports CNBC. The beleaguered home goods retailer will receive $225 million in the offering upfront plus an additional $800 million in proceeds over time, it said. Bed Bath & Beyond also…

Kohl’s last week announced interim CEO Tom Kingsbury assumed the role of CEO on Feb. 2. Kingsbury led the company since December following the departure of former CEO Michelle Gass, who left the company late last year to become president of Levi’s. Kingsbury will also continue to serve on Kohl's board. Kingsbury brings more than 40 years of retail industry experience…

Amid "increasing uncertainty" and an effort to "grow the co-op over the long term," REI Co-op laid off 167 employees this week. CEO Eric Artz noted that REI has made changes at its headquarters to refocus resources in an effort to reach its 2023 goals, including "getting back to profitability as quickly as possible." This…

Over the last several years we’ve seen a tremendous boon in direct-to-consumer (DTC) and e-commerce strategies for retail. Venture capital flooded into the category leaving incumbent retailers feeling pressured. 2022 started to see a reversal of some of these trends. The first half of the year saw consumers back in stores to the detriment of…

Vera Bradley last week announced a new streamlined corporate structure and full acquisition of bracelet brand Pura Vida. As a part of the reorganization, the company has eliminated the positions of Vera Bradley Brand President Daren Hull, Chief Creative Officer Beatrice Mac Cabe, and Chief Revenue Officer Mary Beth Trypus. Pura Vida Co-Presidents Griffin Thall and…