Management

Managing with a long-term view of your company in mind is the way to go, according to new research from McKinsey Global Institute in cooperation with FCLT Global. This study found that companies that operate with a true long-term mind-set have consistently outperformed industry peers since 2001 across almost every financial measure that matters, from revenue…

Marbles: The Brain Store has filed for Chapter 11 bankruptcy and wants to close its 37 brick-and-mortar stores. The Chicago-based puzzle and game retailer wants to wind down its brick-and-mortar presence while trying to sell intellectual property related to its e-commerce and wholesale business. Unfortunately, reports say due to a "dramatic downturn" during the holiday…

Tiffany & Co. abruptly replaced Chief Executive Officer Frederic Cumenal after disappointing financial results, just hours before the jewelry chain introduced a new campaign with the first Super Bowl ad in its history. Cumenal, who had run the company since April 2015, is being succeeded on an interim basis by chairman and former CEO Michael…

bebe stores, inc. said it will not open any stores in 2017 and will close up to 25 bebe and outlet stores, decreasing total store square footage by 16 percent. The company made the disclosure last Thursday when it posted second-quarter results for sales at its stores. The retailer said Q2 same-store sales fell 10.5 percent,…

Hudson's Bay Company, the owner of Saks Fifth Avenue and Lord & Taylor, is reportedly in talks to acquire Macy's, the largest department store chain in the U.S. Sources close to the matter said the talks are at an early stage, and may not lead to a deal. One of these sources told The Wall Street…

Daniella Vitale, formerly chief operating officer of Barneys New York, has been named chief executive officer of the luxury retailer. Her predecessor and mentor Mark Lee, who joined Barneys as chief executive in 2010, has been named executive chairman reporting to Richard Perry, whose hedge fund Perry Capital owns a majority stake in the company. Vitale,…

Wet Seal LLC filed for bankruptcy protection on Thursday, following reports last week that the struggling teen apparel retailer had closed all its stores after it was unable to find a buyer. The Irving, Calif.-based company listed assets of $10 million to $50 million and liabilities of $50 million to $100 million in a filing with…

Abercrombie & Fitch announced that Fran Horowitz, its merchandising head, is now the company’s chief executive. Horowitz replaces Michael Jeffries, who stepped down in 2014 after over two decades as CEO of the teen apparel retailer. Abercrombie halted its search for a new CEO in 2015 as a team led by executive chairman Arthur Martinez…

Restoration Hardware and Crate and Barrel are going head-to-head in court over trade secrets and in-store cafes. The trendy Three Arts Club Cafe operated by Restoration Hardware inside its RH Chicago Gold Coast gallery is at the center of this fight. In 2012, Restoration Hardware started developing a concept to include food and beverage services…

Veteran retail boss Terry Lundgren is stepping down as Macy’s CEO at the end of this quarter. The New York Post reports that Lundgren is trying to avoid a looming board shakeup that could tarnish his 13-year tenure at Macy's and turn the largest U.S. department store into a messy battleground. A partner at a…