Management
February 22, 2017 at 10:41 am
In a polarized country with consumers divided over President Donald Trump, Macy’s may have to give up its nonpartisan identity to survive. Ad Age reports that Macy’s has long been the “quintessential midpriced department store,” appealing to both red and blue state shoppers. Macy’s removed Donald Trump-branded merchandise in 2015 after the then-nominee made comments…
February 21, 2017 at 11:31 am
Toys“R”Us Inc. recently laid off between 10 percent and 15 percent of its corporate employees, the latest traditional brick-and-mortar retailer to cut jobs as shopping rapidly shifts from physical stores to online ones. About 250 jobs were eliminated at the Wayne, N.J.-based company, people familiar with the matter said. The layoffs were announced Friday. Toys"R"Us CEO David…
February 20, 2017 at 11:37 am
Michigan Sporting Goods Distributors, which operates 68 sporting goods stores in seven Midwestern states, has begun store liquidation sales at its MC Sports, MC Sporting Goods, MC Sport Outdoors Centers and Traverse Bay Tackle stores. The company plans to close all of its stores after the liquidation sales. The sporting goods chain filed for Chapter 11…
February 17, 2017 at 11:04 am
GNC announced Thursday a $433.4 million loss in its fiscal fourth quarter, marking the end of a rocky 2016. In total, the Pittsburgh-based health supplement retailer's share price declined 64 percent year-over-year. GNC recorded a net loss of $286.3 million, compared with a $219.3 million profit the year before, as sales declined 6.5 percent and…
February 16, 2017 at 10:02 am
A group of executives from big-name retailers such as Target, Gap, Walgreens and Best Buy met with President Trump on Wednesday to make their case that a Republican plan for tax reform would be detrimental to their businesses and to the wider economy. The tax proposal, known as the border adjustment, would effectively create a…
February 15, 2017 at 5:45 pm
"Albert Boscov was truly one of the giants in the retail industry. He was a man of vision and passion, and he had a profound influence on the retail business community and the community at large."
February 15, 2017 at 5:30 pm
Our coverage of Total Retail’s first annual Salary Benchmark Report this week examines how retail executives — CEOs/presidents/founders; chief marketing officers; C-level execs other than CEOs and CMOs; and vice presidents — view the approaches taken by their companies to award raises. This data can be looked at in two different ways: one, how their own…
February 15, 2017 at 5:09 pm
Miles Cahn, who with his wife founded the Coach Leatherware Company, died on Friday at his home in Manhattan. He was 95. His death was confirmed by his son-in-law, the chef Mario Batali. The New York Times reports Mr. Cahn and his wife, Lillian Cahn, founded Coach in 1961 after buying a small wallet manufacturer…
February 15, 2017 at 4:46 pm
Boscov’s CEO and Vice Chairman Jim Boscov said in a statement to the press that his uncle, Albert Boscov, died Friday of cancer at his home in Reading, Pennsylvania. Boscov’s was founded in Reading in 1914 by Albert's father, Solomon Boscov. Often described as a gentle giant, Albert acted as "a mentor to everyone," and…
February 15, 2017 at 4:42 pm
Tandy Leather Factory, Inc. recently announced that Tina L. Castillo has been promoted to chief financial officer and treasurer of the company. Shannon Greene served as the retailer’s CFO and treasurer since her appointment in 2000, and since February of last year has also been serving as CEO. Castillo was Tandy Leather Factory’s controller for…
