Management
Shares of Adidas jumped 8.2 percent on Wednesday after the company unexpectedly raised its full-year guidance and reported a year-on-year profit increase in the first quarter, reports CNBC. The German sportswear company said that it now expects currency-neutral revenues to increase at a mid-to high-single-digit rate in full-year 2024, compared with a previous projection ofโฆ
Retail sales grew at a steady pace in March in part due to wage gains and easing inflation for goods, according to the CNBC/NRF Retail Monitor report, powered by Affinity Solutions, released on Monday by the National Retail Federation (NRF). According to the Retail Monitor report, total retail sales were up 2.72 percent unadjusted year-over-yearโฆ
Macy's announced on Wednesday that it has settled its proxy fight with real estate investor Arkhouse, appointing two of the firmโs nominees to its 15-person board. Ric Clark and Rick Markee will join Macyโs board effective immediately. Theyโll be part of the committee thatโs in charge of overseeing and evaluating Arkhouseโs bid to take theโฆ
99 Cents Only Stores announced last week that it had filed for bankruptcy protection in the United States Bankruptcy Court for the District of Delaware, days after it said it was closing all of its 371 locations. Founded in 1982, 99 Cents Only Stores currently operates stores in California, Texas, Arizona and Nevada. Number Holdings, Inc., the parent companyโฆ
Canada Goose said Tuesday that it will cut about 17 percent of its corporate workforce, reports CNBC. This announcement follows a string of other retailers that have laid off employees this year as consumers continue to pull back on discretionary spending. The cuts will affect staff at Canada Gooseโs corporate headquarters in Toronto, which hadโฆ
Target will double its bonus payments to salaried employees this year, as the big-box retailerโs profits recover from a bumpy nearly two-year stretch, reports CNBC. In a statement, Target said the annual bonus payout is based on how the retailer performs against sales and profit goals set at the beginning of the fiscal year. Salariedโฆ
Joann, the 81-year-old fabric and craft retailer, has filed for bankruptcy as it struggles with customers cutting back on discretionary spending. In a statement released on Monday, the Ohio-based company said it filed for Chapter 11 bankruptcy protection and has secured $132 million in funding with most of its financial stakeholders that helps reduce itsโฆ
Kevin Plank, the founder of Under Armour, is returning to the helm of the Baltimore-based athletic wear maker, the company announced in a Wednesday afternoon press release. Plank is set to be president and CEO starting April 1. He will succeed Stephanie Linnartz, who had been in the position for little more than a year.โฆ
Estรฉe Lauder is cutting 3 percent to 5 percent of its global workforce as part of a restructuring program that aims to increase profits and become more nimble in a challenging international environment, reports ABC News. The layoffs were announced Monday as the New York cosmetic giant reported falling profits and revenue in the secondโฆ
Levi Strauss & Co. is planning to reduce its corporate workforce 10 percent to 15 percent during the next six months as part of its โproductivity initiativeโ to drive long-term growth. The initiative, a two-year program named Project FUEL, is designed to accelerate the execution of Levi's brand-led and direct-to-consumer first strategies while fueling long-termโฆ