Nike announced a series of leadership changes and restructuring on Monday, including the retirement of its current president of consumer, product and brand. The company is restructuring its consumer, product and brand leadership into three separate areas: consumer and sport, marketing, and product creation. As a result, Heidi O'Neill, Nike's president of consumer, product and…
Marie Albiges
The Container Store, which less than six months ago filed for bankruptcy, has announced it will lay off about 2 percent of its workforce, or around 70 people, mostly in corporate positions. Capital projects will be also be placed on hold. The Container Store's former president and CEO, Satish Malhotra, resigned last month and was…
U.S. retail sales saw strong growth in March, with consumers rushing to buy big-ticket items like cars as the threat of tariffs — and likely higher costs as a result — loomed large. The U.S. Census Bureau reported Wednesday that overall retail sales in March were up 1.4 percent over the same period last year,…
Retailers are feeling whiplash after President Donald Trump announced Wednesday he would not be moving forward — at least in the short term — with many of the additional tariffs he had promised would take effect this week. The president took to the social media platform Truth Social to announce a 90-day pause on tariffs…
GoodwillFinds, Goodwill's online resale marketplace, announced it stopped taking new orders and was shuttering on March 28, according to its website. The nonprofit thrift chain that operates over 3,300 locations launched GoodwillFinds in 2022, creating its first centralized online business. Thrifted items were listed on the site by various Goodwill stores, which also shipped the…
Ten years after acquiring the Family Dollar brand in an effort to fit it into its wider bargain store business, Dollar Tree is selling off the retailer for $1 billion. The Virginia-based company announced Wednesday it was selling Family Dollar to private capital firms Brigade Capital Management and Macellum Capital Management. The deal is expected…
Beyond, the parent company of Bed Bath & Beyond, buybuy Baby, Overstock, and Zulily, announced Tuesday it was selling off its Zulily brand to Lyons Trading Company for $5 million. Beyond will keep a 25 percent stake in the brand, according to a press release. The announcement comes one year after Beyond acquired Zulily. Lyons Trading…
CVS is focusing on the health side of its business by launching a handful of pharmacy-only, smaller format stores, multiple news outlets reported. The dozen or so stores — expected to open later this year in select, unnamed locations — will come without the snacks, greeting cards and other consumable staples found in traditional CVS…
Kelly Cook, who currently serves as David's Bridal's brand, technology and finance president, will become CEO of the company and attempt to position it as a digital-first media company to attract new customers, CNBC reported Wednesday. Cook will succeed current CEO Jim Marcum on April 1, according to a company press release. Marcum will become…
Qurate Retail Group, known for its portfolio of live social shopping brands including QVC and HSN, announced Friday that it has officially rebranded to QVC Group, Inc. as it leans into streaming and social. QVC Group's other brands include Ballard Designs, Frontgate, Garnet Hill, and Grandin Road. In November, the Pennsylvania-based company announced plans to…
The fashion holding company Tapestry said Wednesday that it has agreed to sell the Stuart Weitzman brand to Caleres, which owns several footwear brands, including Famous Footwear. Caleres will spend $105 million in cash on Stuart Weitzman, which sells luxury shoes and boots and was created by its namesake in 1986. Tapestry and Caleres said…
Greg Scott, best known for his role as CEO of New York & Company, has been named to the chief executive position at Bonobos and Express, effective Feb. 19. PHOENIX, Express and Bonobos' parent company, said Scott will oversee all DTC operations for the two brands, including retail stores and e-commerce. Scott served as CEO…
China announced it was levying tariffs on select imported U.S. goods Tuesday in response to President Donald Trump's imposed 10 percent tariffs on China, which went into effect Tuesday. The Associated Press reported that China would implement a 15 percent tariff on coal and liquefied natural gas (LNG) products as well as a 10 percent…
Toothpaste, condoms, makeup and deodorants are among dozens of products under lock and key inside clear cabinets at drugstores like CVS in order to deter thieves from shoplifting. It's become a source of inconvenience — for both customers who have to wait for a salesperson to unlock the cabinet, and for employees to stop what…
In a move meant to create an integrated, automated supply chain, Walmart has struck a deal with artificial intelligence-enabled robotics technology company Symbotic. Walmart said in a press release it would invest $520 million in Symbotic's AI-powered robotics platform, which will accelerate online pickup and delivery options and develop new pickup and delivery fulfillment systems.…
