Management
February 6, 2023 at 5:54 pm
Kohl’s last week announced interim CEO Tom Kingsbury assumed the role of CEO on Feb. 2. Kingsbury led the company since December following the departure of former CEO Michelle Gass, who left the company late last year to become president of Levi’s. Kingsbury will also continue to serve on Kohl's board. Kingsbury brings more than 40 years of retail industry experience…
February 2, 2023 at 3:26 pm
Amid "increasing uncertainty" and an effort to "grow the co-op over the long term," REI Co-op laid off 167 employees this week. CEO Eric Artz noted that REI has made changes at its headquarters to refocus resources in an effort to reach its 2023 goals, including "getting back to profitability as quickly as possible." This…
February 1, 2023 at 1:31 pm
Over the last several years we’ve seen a tremendous boon in direct-to-consumer (DTC) and e-commerce strategies for retail. Venture capital flooded into the category leaving incumbent retailers feeling pressured. 2022 started to see a reversal of some of these trends. The first half of the year saw consumers back in stores to the detriment of…
January 31, 2023 at 6:30 pm
Vera Bradley last week announced a new streamlined corporate structure and full acquisition of bracelet brand Pura Vida. As a part of the reorganization, the company has eliminated the positions of Vera Bradley Brand President Daren Hull, Chief Creative Officer Beatrice Mac Cabe, and Chief Revenue Officer Mary Beth Trypus. Pura Vida Co-Presidents Griffin Thall and…
January 30, 2023 at 7:00 pm
Bed Bath & Beyond Inc. said Friday it was closing an additional 87 of its flagship stores and its entire Harmon chain of drugstores, as the retailer struggles to find financial support to keep its operations funded. The news, first reported by The Wall Street Journal, also said the company is closing five of its…
January 26, 2023 at 5:34 pm
Foot Locker is making cuts to its staff and store fleet as it looks to trim costs under new leadership. The footwear retailer on Thursday announced that it would eliminate an undisclosed number of “corporate and support roles,” which the company expects to account for about $18 million in cost savings on an annualized basis starting…
January 18, 2023 at 7:14 pm
In a world where consumers have their phones with them seemingly at all times, which of course show the time of day, one would think that there would be little need to wear a watch. However, that line of thinking discounts the emotional connection that consumers have to certain products, notably jewelry and watches. That…
January 9, 2023 at 8:37 pm
The new year is bringing with it a retail CEO shuffle. Since the start of 2023, several CEOs in the retail space have either left their positions, with some announcing new positions elsewhere. Ideal Image, a leading aesthetics brand, announced that Sharon M. Leite is its new CEO. Leite, the former CEO of The Vitamin…
January 5, 2023 at 5:44 pm
Stitch Fix founder Katrina Lake on Thursday told employees the company will be cutting 20 percent of its salaried workforce and she will reassume her post as CEO as the fledgling apparel company continues to grapple with low sales, a dwindling customer base, and a reduced market cap. The brand’s current CEO, Elizabeth Spaulding, who joined the…
January 4, 2023 at 3:47 pm
Victoria’s Secret on Tuesday announced Brand Chief Amy Hauk has resigned less than a year in the role, reports CNN Business. Hauk served as Pink CEO since 2018 and took leadership of brand across the organization when the company merged its Victoria’s Secret and Pink lingerie operations and beauty business last July. Her resignation is effective March 31,…
