Crisis Management

A Reopening Guide for Retailers
April 22, 2021 at 7:50 pm

As vaccines continue to roll out and states begin to open up, many retailers will be opening their doors to the public again, perhaps for the first time since early last year. However, operations won’t return to 100 percent normal; after 2020, the customer experience will look a bit different. If you’re planning on reopening…

Strategies to Improve the Vaccine Distribution in Rural and Vulnerable Communities
April 7, 2021 at 12:57 pm

The U.S. is undergoing a massive vaccination strategy to help curb the spread of COVID-19. Unfortunately, it hasn’t been without hiccups. Individuals have been accused of cutting the lines. White Americans are being vaccinated at rates two to three times higher than Black Americans. The latest hurdle is getting vaccines to rural populations. Although population…

Target to Spend $200M for More Bonuses to Employees
January 25, 2021 at 6:40 pm

Target said Monday it will spend $200 million on another round of employee bonuses and extend its coronavirus-related benefits after its strong holiday season. Indeed, Target has been one of the beneficiaries of pandemic trends, as shoppers consolidate trips, fill up bigger baskets and use curbside pickup. That pattern continued over the holidays, boosting the…

Walgreens to Hire 25,000 to Help Distribute COVID-19 Vaccine
December 14, 2020 at 5:16 pm

Walgreens expects to get its first doses of the COVID-19 vaccine on Dec. 21, and will start giving shots to nursing home residents and workers at nearly 35,000 long-term care facilities nationwide in the days leading up to Christmas. To administer the vaccine, Walgreens plans to hire 25,000 people across the U.S., including 9,000 pharmacists and other healthcare workers.…

Guitar Center to File for Bankruptcy Protection
November 16, 2020 at 5:34 pm

Guitar Center said last week that it expects to file for Chapter 11 bankruptcy protection after negotiating a debt-cutting deal with key investors and lenders. The country’s largest music instrument seller plans to emerge from protection before year’s-end with nearly $800 million less debt. By filing for Chapter 11 bankruptcy, Guitar Center would be able to continue…

NRF Cautiously Optimistic in Holiday Retail Sales Forecast
October 5, 2020 at 7:22 pm

Consumer spending has recovered from the coronavirus pandemic more quickly than expected, but forecasting 2020 holiday sales is like assembling a jigsaw puzzle without all the pieces, National Retail Federation (NRF) Chief Economist Jack Kleinhenz said in a press release from the trade association. “I'm cautiously optimistic about the fourth quarter in terms of the…

How Local Retailers Will Thrive in a Post-COVID Environment
September 7, 2020 at 7:25 pm

When the coronavirus required cities to introduce stay-at-home policies this spring, the initial impact on retail was immediate and, frankly, scary. “Closed” signs popped up in store windows across the country, foot traffic came to a complete halt in some areas, and some brick-and-mortar shop owners weren’t sure they would make it. An April 8…

Neiman Marcus Group to Emerge From Chapter 11 Bankruptcy by Sept. 30
September 7, 2020 at 11:58 am

Neiman Marcus Group announced last week that it expects to emerge from Chapter 11 bankruptcy by Sept. 30 under a restructuring plan that's likely to eliminate more than $4 billion of its debt and more than $200 million of interest expense. The upscale retail chain said certain institutional investors will fund a $750 million exit financing package. The…

Lord + Taylor, Tailored Brands File for Bankruptcy Protection
August 3, 2020 at 5:49 pm

Lord + Taylor, one of America's oldest department stores, has filed for bankruptcy, joining a growing list of stores slammed by the coronavirus pandemic. In addition, Tailored Brands, the parent company of Men's Wearhouse and JoS. A. Bank, also filed for bankruptcy. Lord + Taylor, which was sold to rental clothing company Le Tote last…