Management

Rent the Runway, Nordstrom Expand Partnership
November 15, 2019 at 10:38 am

Rent the Runway, the clothing rental platform now valued at $1 billion, is expanding its partnership with Nordstrom. The two companies tell Fast Company exclusively that they will be blending their capabilities along many dimensions, including creating new products together and incorporating Nordstrom inventory into the Rent the Runway system. For Rent the Runway customers, the most immediate…

Sears Owner Gets $250M Lifeline; Plans to Close 96 More Stores
November 8, 2019 at 11:02 am

The parent company of Sears and Kmart, Transformco, has secured a $250 million lifeline and announced plans yesterday to close 96 more stores, CNBC reported. This will leave the business with 182 store locations. Owner Eddie Lambert, who bought Sears out of bankruptcy court for $5.2 billion earlier this year, is one of the lenders…

Best Buy Sets Up $2.5M Endowed Scholarship at the University of Minnesota
November 1, 2019 at 9:48 am

Best Buy has launched a $2.5 million endowed scholarship at the University of Minnesota's Carlson School of Management to help fund four years of college for up to 10 students a year, starting next fall. It's one of the company's largest gifts in higher education. The scholarship is targeted to students who have gone through…

Vote for Your Favorite Retail Technology Service Provider Today!
October 31, 2019 at 1:07 pm

Have you heard of the Vendors in Partnership (VIP) Awards? The awards program was created to celebrate innovation, empathy and excellence among the retail solution provider community. In addition to celebrating great product solutions, the companies that are recognized are those that are willing to make changes that are meaningful in creating a better partnership…

6 Tips for Retailers Battling the ‘Amazon Effect’
October 29, 2019 at 3:17 pm

With The New York Times reporting that nearly 6,000 storefronts will shutter in 2019, how can retailers avoid being added to the growing total? For many, taking on the “Amazon effect” will be critical. The “Amazon effect” refers to the ongoing disruption in retail and rising consumer expectations driven by e-commerce. Some of the most…

LVMH Makes $14.5B Offer to Buy Tiffany & Co.
October 28, 2019 at 2:36 pm

French luxury group LVMH Moët Hennessy Louis Vuitton confirmed Monday that is has offered to buy Tiffany & Co. for $14.5 billion in cash, sending shares in the New York jeweler soaring. The purchase would add another household name to LVMH's portfolio of upscale brands, including Christian Dior, Fendi and Givenchy, as well as watchmaker…

What the Re-Emergence of Toys"R"Us Means for the Toy Category
October 25, 2019 at 12:48 pm

In this episode of Retail Right Now, Total Retail's Joe Keenan and Kristina Stidham discuss the rebirth of Toys"R"Us, including the news earlier this month that its e-commerce website will be powered by Target. For the toy category, the re-emergence of Toys"R"Us, both online and offline, brings another competitor with a strong, iconic brand name…

Destination Maternity Files for Bankruptcy, Closing 183 Stores
October 24, 2019 at 11:53 am

Destination  Maternity, owner of brands such as A Pea in the Pod and Motherhood, has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware. The company plans to shutter 183 stores. The move comes after the Moorestown, N.J., retailer has struggled for years to regain its footing…

GameStop is Not a Failed Business, it’s a Failed Idea
October 23, 2019 at 12:24 pm

To those in retail, GameStop’s decline might be seen as a slight shock — it’s a monopoly chain with more than 5,000 stores that has been dominating the gaming industry for more than three decades. For professionals in gaming, the company’s demise was inevitable and not surprising in the least bit. GameStop is comparable to…

Under Armour CEO and Founder Kevin Plank Stepping Down
October 22, 2019 at 10:24 am

In a surprise announcement, Kevin Plank, who founded Under Armour in 1996 while still in college, announced Tuesday he is stepping down as CEO. Plank will be replaced by Chief Operating Officer Patrik Frisk, effective Jan. 1. Frisk will also join Under Armour's board, while Plank transitions to executive chairman and brand chief. Plank is…