Management
May 5, 2017 at 9:27 am
Earnings came and went, and for the retail sector, here’s the bottom line: we’re seeing the market respond to how well (or not) retailers are adjusting to the new reality of mobile-first consumers who shop online and in stores, e-commerce encroachment, and managing the omnichannel transition. A quick snapshot of Macy’s, Wal-Mart and Amazon.com shows…
May 4, 2017 at 12:23 pm
Macy's announced this week that it will be ending its tuxedo rental partnership with Tailored Brands in July. In March, Tailored Brands reported a $14 million charge after expecting startup losses of $10 million. The increase was due to missing the bulk of wedding season, said Tailored Brands Chief Executive Douglas Ewert on the earnings…
May 4, 2017 at 11:53 am
Taken altogether, the hourly retail pay across all REI stores is increasing by an average of 10 percent. REI's wage hikes are estimated to cost the retailer as much as $24 million to $25 million. Jerry Stritzke, CEO of REI, said in the co-op's annual meeting the pay hikes equal "the vast majority of our…
May 4, 2017 at 11:37 am
Retail registers rang in 2016 — a lot. And if research done by Moody Analytics is to be believed, that surge is expected to continue. Helped by an anticipated bump in GDP, core retail sales could rise by 5.4 percent in the next 12 months, while the average hourly salary for retail employees could increase by 3…
May 3, 2017 at 12:30 pm
DSW Inc. recently announced the appointment of Michelle Love as executive vice president and chief operating officer. Love will be responsible for bringing DSW's differentiated experience and value proposition to life by driving demand and providing seamless multipoint fulfillment. Additionally, Love will be responsible for delivering DSW's unique warehouse experience in over 500 Designer Shoe…
May 3, 2017 at 9:48 am
Etsy CEO Chad Dickerson has been fired. The board of directors for the online marketplace is replacing Dickerson with board director Josh Silverman, effective immediately. Dickerson, who has served as CEO since 2011, is also losing his board seat to New York investor Fred Wilson. Etsy is also laying off 8 percent of its staff…
May 3, 2017 at 9:41 am
Urban Outfitters’ shareholders are being urged to vote against the re-election of two long-serving directors by CtW Investment Group. A letter was issued on Monday encouraging Urban investors to vote against Robert Strouse, who has served as a director since 2002, and Harry Cherken Jr., who has been a director since November 1993, saying the…
May 3, 2017 at 9:27 am
Large retailers need a chief digital officer (CDO), or someone with the same charter, to drive holistic and consistent digital experiences across an entire brand. If you're not convinced, I suggest you go back to Gartner’s Top 10 Strategic Trends, understand why Deloitte gave the title a “superpower,” or try to comprehend the idea of…
May 2, 2017 at 10:03 am
Target Corp. Chief Executive Officer Brian Cornell got no bonus and saw his pay cut by one-third after a year marred by disappointing sales, customer defections and executive departures. Cornell’s compensation declined 33 percent last year to $11.3 million, most of which came from stock awards valued at $9.65 million, according to a proxy statement filed…
April 28, 2017 at 7:20 am
Kit and Ace, started by lululemon founder Chip Wilson, is laying off staff in its headquarters and closing stores in the U.S., U.K. and Australia. In a statement, Wilson said the company is shifting focus to its Canadian locations and global e-commerce platform. It isn’t clear how many staff members have been laid off, however.…
