Management

Judge Approves $14M Toys"R"Us Executive Bonus Payout
December 6, 2017 at 12:21 pm

The judge overseeing the Toys"R"Us bankruptcy case ruled Tuesday that the insolvent retailer can pay its 17 top executives $14 million in incentive bonuses. Toys"R"Us, which is based in Wayne, N.J., agreed to trim its original $16 million bonus proposal by $2 million, and to make $5 million of the bonus payout contingent on the company creating…

Charming Charlie Announces Management Changes, Store Closures
December 5, 2017 at 12:26 pm

Charming Charlie is overhauling its operations and management in an attempt to stem financial losses and restructure a heavy debt load during the critical holiday season. The Houston-based accessories retailer announced this month plans to pare down its chain of about 375 stores by an unspecified number, cut jobs at its Houston headquarters and distribution center,…

Blue Apron Co-Founder Steps Down as CEO
December 1, 2017 at 11:32 am

Less than a month after an earnings report indicated customers dropped 6 percent from last year, Blue Apron Holdings has announced that Matt Salzberg, the company's co-founder, has stepped down from his role as president and chief executive officer. In addition, the company's board of directors has appointed Brad Dickerson, Blue Apron's current CFO, to fill both of those roles.…

Lowe's COO Retiring; Replacement Named
November 29, 2017 at 4:50 pm

Lowe's Companies, Inc. announced last week that Richard D. Maltsbarger, the company's current chief development officer and president, international, has been appointed chief operating officer (COO), effective Feb. 3. Maltsbarger will succeed Rick D. Damron, who will retire in February after 36 years with the company. Damron…

Macy's Requires Appointment to Meet Santa at NYC Flagship
November 21, 2017 at 12:49 pm

At Macy's flagship store on 34th Street in New York City, a chance to sit on Santa's lap is by appointment only this year, for the first time ever. Starting Monday, families can go online to sign up for a time slot from 30 minutes to five days in advance. Admission is free to Santaland Herald…

Toys"R"Us Seeks OK for $16M in Executive Bonus Pay
November 16, 2017 at 1:12 pm

Toys”R”Us is seeking approval to pay 17 of its senior executives $16 million in incentive bonuses. Those bonuses could exceed the estimated amount if toys sales are better than expected during the holiday season. The bankrupt retailer is arguing the incentives for the senior-level executives are necessary in order to retain top-level talent through its…

Mickey Drexler, Former CEO, J.Crew
November 15, 2017 at 11:12 pm

"Things have been miserable in retail. The last two [years] or three years have not been fun whatsoever."

Skechers Names New CFO
November 15, 2017 at 9:38 pm

Skechers USA said Wednesday it has hired John Vandemore to be its chief financial officer, effective within the next few weeks. Vandemore, who recently served as CFO of Mattel Inc., will assume the role from David Weinberg, who assumed the CFO role in 2009 in addition to being chief operating officer since 2006. Vandemore will…

How to Create a Genuine Workplace Culture
November 15, 2017 at 3:58 pm

Turnover is an ever-lingering threat to the retail industry. According to data from the Bureau of Labor Statistics’ Job Openings and Labor Turnover program, the turnover rate in 2017 is already on a pace for a 10 percent increase over the average annual rate of the past decade. Despite the troubling trend, it’s possible to…

GameStop Names Interim CEO While Paul Raines Recovers From Illness
November 15, 2017 at 12:48 pm

GameStop has appointed an interim CEO, the company announced yesterday. CEO Paul Raines has had "a medical reoccurrence." The Dallas Morning News reports the board of the video game retailer appointed Daniel DeMatteo, GameStop's executive chairman, to be interim CEO. DeMatteo, one of GameStop's co-founders, will continue to serve as executive chairman and director, the…