Management

The retail industry has faced significant and continual challenges in the past year-plus that have impacted consumer confidence and spending, including rising inflation, an uncertain economic environment (with the threat of a recession looming), and supply chain disruptions that have led to both out-of-stocks and overstocks. Yet despite these obstacles to success, there are many…

Bed Bath & Beyond announced yesterday that it has filed for bankruptcy under Chapter 11 to close its business and seek a sale of its assets. The home goods retailer has received a commitment of approximately $240 million in debtor-in-possession financing from Sixth Street Specialty Lending to facilitate the store closing process, pending court approval. Bed…

Walmart is laying off hundreds of employees at e-commerce facilities across the country, as the big-box giant and other retailers brace for a tougher year ahead. Walmart, the nation’s largest private employer, is shrinking its workforce as many retailers plan on roughly flat or declining sales. Inflation and the shift back to services is taking a bite…

Amazon.com will lay off 9,000 more employees in the coming weeks, CEO Andy Jassy said in a memo to staff on Monday, reports CNBC. The cuts are on top of the previously announced layoffs that began in November and extended into January. That round totaled more than 18,000 employees, and primarily affected staffers in its retail, devices, recruiting…

Foot Locker CEO Mary Dillon on Monday outlined a new long-term strategy to grow the business as the retailer reported a sales decline of 0.3 percent in the fourth quarter. The strategy, dubbed “Lace Up,"  includes plans to expand sneaker culture by creating more sneaker occasions and providing more choice; relaunching the Foot Locker brand and opening new…

In episode 392 of Total Retail Talks, Editor-in-Chief Joe Keenan interviews David Law, senior vice president and general manager of Allen Edmonds, a U.S.-based handmade luxury men’s footwear heritage brand. Listen in as Law provides an overview of the legacy brand (1:00), his professional background and role at Allen Edmonds (2:35), and the factors he believes…

Best Buy announced Tuesday it has struck a three-year deal with Atrium Health, an integrated, nonprofit health system part of Advocate Health, to help enable a hospital-at-home program, reports CNBC. Atrium Health is part of Advocate Health, one of the country’s largest healthcare nonprofits. The consumer electronics retailer will sell devices and its Geek Squad will handle…

The Home Depot on Tuesday said it will spend an additional $1 billion to give its hourly employees a raise, as retailers and restaurants compete for workers, reports CNBC. The home improvement retailer announced the wage investment as it reported fourth-quarter earnings. It didn't disclose the new average wage for employees, but said every market’s starting wage is…

Ever since Josiah Wedgwood first marketed high-end china in the 18th century by seeking the sheen of associating with royalty, brands have sought celebrity endorsements to elevate their products in the public’s eye. But along with the reward of celebrity association comes risk, a lesson once again delivered in 2022 when major consumer brands found…

Bed Bath & Beyond is expecting to receive more than $1 billion in equity from a stock offering it hopes will stave off bankruptcy and liquidation, reports CNBC. The beleaguered home goods retailer will receive $225 million in the offering upfront plus an additional $800 million in proceeds over time, it said. Bed Bath & Beyond also…