Management
February 27, 2017 at 10:22 am
HHGregg Inc., the 61-year-old retailer of appliances and electronics, is preparing to file for bankruptcy as it grapples with slumping sales, according to people familiar with the matter. The filing may come as soon as next month, said the people, who asked not to be identified because the matter isn’t public. The Indianapolis-based company announced last week…
February 24, 2017 at 11:46 am
J.C. Penney plans to close 130 to 140 stores and offer buyouts to 6,000 workers as the department store industry sags in competition with online sellers and nimble niche retailers. The company said Friday that it would shutter 13 percent to 14 percent of its locations and introduce new goods and services aimed at the shifting…
February 24, 2017 at 11:24 am
Kohl's and rival Macy's are carving out prime space within their sprawling stores and leasing them to other retailers as a means to generate revenue. Kohl's said on Thursday it would operate 500 of its nearly 1,150 stores with much lower square footage and would look to lease out the remaining space to other retailers. Macy's is…
February 23, 2017 at 12:27 pm
Lowe's is cutting back on staff. The home improvement retailer has laid off more than 500 full-time corporate employees companywide in its latest efforts to streamline operatios. The Charlotte Observer reports the layoffs includes 430 workers at Lowe's headquarters in Mooresville, N.C., as well as 70 support staffers in Wilkesboro, N.C. and 25 corporate support…
February 22, 2017 at 2:56 pm
Our coverage of Total Retail’s first annual Salary Benchmark Report this week examines retail executives’ — CEOs/presidents/founders; chief marketing officers; C-level execs other than CEOs and CMOs; and vice presidents — opinions on how transparent their companies are when it comes to employee compensation. This data can be looked at in two different ways: one, how…
February 22, 2017 at 2:55 pm
Chief marketing officers are the shortest-tenured C-suite professionals, at least according to a recently released report from people and organizational advisory firm Korn Ferry. By contrast, CEOs are the longest-tenured C-suite professionals. The report featured data from a survey conducted by the Korn Ferry Institute of the top 1,000 U.S. companies by revenue. The survey…
February 22, 2017 at 2:47 pm
Ralph Lauren Corporation has hired its first chief marketing officer to further solidify the leadership team in support of the brand’s Way Forward Plan. Jonathan Bottomley has been appointed to the newly created role, and will be responsible for evolving the brand’s voice, leading the global marketing team and building marketing strategies across brands. Bottomley comes…
February 22, 2017 at 2:07 pm
"You have to stop trying to be perfect all the time and accept that you’re going to have to make personal and professional tradeoffs."
February 22, 2017 at 1:23 pm
AutoNation recently announced that it has named Bill Berman president and COO. Berman held the positions of COO and executive vice president since 2015, and previously lead the West Coast division of AutoNation. During this time, Berman built several used car and customer care processes that AutoNation implemented throughout its dealer body. Berman engineers the…
February 22, 2017 at 11:51 am
Tiffany & Co. this week announced that it's appointing three new members to its board of directors, effective no later than March 6. The addition of Roger Farah, James Lillie and Francesco Trapani will increase the board’s size from 10 to 13. Farah is the co-CEO of the fashion brand Tory Burch, and Lillie is the…
