Management

In a world where consumers have their phones with them seemingly at all times, which of course show the time of day, one would think that there would be little need to wear a watch. However, that line of thinking discounts the emotional connection that consumers have to certain products, notably jewelry and watches. That…

The new year is bringing with it a retail CEO shuffle. Since the start of 2023, several CEOs in the retail space have either left their positions, with some announcing new positions elsewhere. Ideal Image, a leading aesthetics brand, announced that Sharon M. Leite is its new CEO. Leite, the former CEO of The Vitamin…

Stitch Fix founder Katrina Lake on Thursday told employees the company will be cutting 20 percent of its salaried workforce and she will reassume her post as CEO as the fledgling apparel company continues to grapple with low sales, a dwindling customer base, and a reduced market cap. The brand’s current CEO, Elizabeth Spaulding, who joined the…

Victoria’s Secret on Tuesday announced Brand Chief Amy Hauk has resigned less than a year in the role, reports CNN Business. Hauk served as Pink CEO since 2018 and took leadership of brand across the organization when the company merged its Victoria’s Secret and Pink lingerie operations and beauty business last July. Her resignation is effective March 31,…

The retail industry has been forced to confront several external challenges in 2022, including but not limited to labor shortages, supply chain disruption, rising inflation, and geo-political turmoil. These challenges have made profitable growth elusive for many organizations, particularly legacy brick-and-mortar chains. However, times of transformation and disruption such as today present an opportunity for…

Insights that will help your business maximize sales and profits

Consumer spending accounts for nearly 70 percent of U.S. economic activity. In the first half of 2022, shoppers buoyed the economy — or at least kept it from falling deeply into recession. However, they’re starting to feel the pinch from inflation and rising interest rates. The supply chain was more stable in 2022, but retailers…

Quiet quitting is a trending topic across corporate America. And the retail sector is experiencing its own wave of workers eager to set boundaries with employers. Whether you call it quiet quitting, coasting, or plain old checking out, unmotivated employees aren’t new. Workers who lack support, resources, and work-life balance also lack incentive to go…

Sears Hometown Stores Inc., a franchise-owned unit of Sears, has filed for Chapter 11 bankruptcy protection, CNN Business reports. Sears spun off Sears Hometown in 2012 to give the parent company a much-needed infusion of cash. Transformco reacquired the company after it bought Sears out of bankruptcy in 2019. The chain, including locations run by independent dealers,…

The holidays are a time when many small businesses generate their highest revenues of the year, but it can also be a time when cash flow challenges become particularly acute. Stocking up on inventory, hiring seasonal employees, and surges in demand can all present potential cash flow pressures. This year, many businesses also face additional…