Management
August 2, 2017 at 11:49 am
Some sad news this week — Costco announced the death of its co-founder and chairman, Jeff Brotman. Brotman passed away on Tuesday morning at the age of 74. Brotman co-founded Costco Wholesale with Jim Sinegal. The two opened the first warehouse in Seattle in 1983. Brotman previously served as chairman of the company's board of directors…
August 2, 2017 at 11:42 am
Wal-Mart Stores this week announced changes to its food and merchandising leadership teams as the company prepares for increased competition with grocery rivals. In a memo to the company, Charles Redfield, executive vice president for food at Wal-Mart U.S., said the mega retailer is positioning leaders throughout the company in new roles so it can…
August 1, 2017 at 9:58 am
Under Armour announced that it will be cutting 2 percent of its workforce — about 280 jobs — as it restructures the business. The sports apparel and lifestyle brand is facing slumping sales, reporting that it now expects revenue to grow 9 percent to 11 percent, lower than the previous forecast of 11 percent to…
August 1, 2017 at 9:54 am
Best Buy is eliminating about 400 members of its Geek Squad workforce, with a goal of outsourcing that work and moving those employees to other positions. The affected positions are on the Geek Squad’s covert team, who often work from their homes to provide remote technical support to customers. A Best Buy spokesperson said that…
July 31, 2017 at 10:55 am
Starbucks announced last week that it will be closing all 379 Teavana stores over the coming year. The move will impact 3,300 workers. "The company concluded that despite efforts to reverse the trend through creative merchandising and new store designs, the underperformance was likely to continue," Starbucks said in its third-quarter earnings press release. Most locations…
July 28, 2017 at 10:21 am
Neiman Marcus said Wednesday that a reorganization of its business to reflect changing customer shopping habits will include a reduction of its workforce. The Dallas-based retailer also said it's assessing its Last Call outlet division. The Dallas-based retailer, struggling with almost $5 billion in leveraged buyout debt, said it will cut 225 employees. Neiman Marcus has reported…
July 27, 2017 at 11:38 am
Blue Apron announced this week a change in leadership. CNBC reports Co-Founder and Chief Operating Officer Matthew Wadiak is out as COO, and will transition to a senior advisory role. "As a co-founder and member of our executive leadership team, Matt Wadiak has played an instrumental role in driving forward Blue Apron's mission to make incredible…
July 26, 2017 at 4:47 pm
Below is part two of a three-part series that Total Retail Executive will be publishing over three weeks. You can read part one here. Millennials There's no doubt that millennials are now the most active part of the U.S. workforce and are motivated by “different” forces than baby boomers. In summary, millennials don't remember a…
July 26, 2017 at 4:02 pm
Groupon announced last week that it has promoted Aaron Cooper to president of North America, giving him oversight of the company’s Local, Travel and Goods businesses in the United States and Canada. Cooper currently serves as senior vice president of North America Services, which includes Local and Travel, and will…
July 26, 2017 at 3:30 pm
Duluth Holdings Inc., a lifestyle brand of men’s and women’s casual wear, workwear and accessories, announced on Monday that Dave Loretta has been appointed senior vice president and chief financial officer. Loretta will succeed retiring CFO Mark DeOrio, and will assume the role of CFO effective immediately. Loretta joins Duluth Trading from Nordstrom Bank, where…
