Crisis Management

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…

Mall Owner Simon and Authentic Brands Make $305M Bid for Bankrupt Brooks Brothers
July 27, 2020 at 3:29 pm

SPARC LLC, a full-service retail operator comprised of the U.S. mall owner Simon Property Group and the apparel licensing firm Authentic Brands Group (ABG), has made a $305 million bid for bankrupt Brooks Brothers, according to a court filing published last week. The offer, still subject to better and higher bids and court approval, will keep at least 125…

How Retail Technology Can Power Post-Pandemic Innovation
July 23, 2020 at 6:34 pm

The retail spaces that shoppers will return to following the COVID-19 pandemic won't be the same ones they shopped in previously. Associates and consumers will have to develop and adjust to new shopping behaviors that minimize physical touch and closeness. This period will be marked by innovation and experimentation, as retailers attempt to drive increased…

Diversity and Inclusion, Leadership, Fun Stuff and More
July 3, 2020 at 11:25 am

Welcome to this week's Retail Resources, which features a curated list of the best content and resources I've found over the past week. This week, I offer information and resources about leadership, diversity and inclusion, and some fun stuff, too. As always, if there's anything you would like me to share in a future post, let…

Sweetwater's CEO on Being a Better Leader During Times of Crisis
July 1, 2020 at 5:34 pm

During last month's Women in Retail and Total Retail Virtual Exchange, Chuck Surack, founder and CEO of Sweetwater, participated in a live discussion that touched on everything from how employees embody the company's culture of prioritizing customer satisfaction to how the world's leading online musical instrument retailer is weathering the current pandemic. In this video clip from the…

Microsoft to Permanently Close All Retail Stores
June 28, 2020 at 9:34 am

Microsoft said on Friday it will permanently close all of its 83 store locations and will instead focus on its e-commerce business, where customers can visit for support, sales, training and more. The decision comes after Microsoft temporarily closed stores in March due to the spread of the coronavirus. Microsoft said the thousands of workers from these stores have…