Management

Macy's Furloughs Workers, and Other Retail News Related to the COVID-19 Crisis
March 30, 2020 at 1:39 pm

Total Retail is continuing its daily coverage of how retailers and brands are responding to the COVID-19 crisis and the impact it is having on their businesses. Here's the latest: Retailers are continuing to lay off and furlough workers due to the coronavirus uncertainty. Macy's announced this morning that the majority of employees for the Macy’s,…

How Retailers and Brands Are Responding to the Ongoing Coronavirus Crisis
March 27, 2020 at 12:50 pm

Total Retail is continuing its daily coverage of how retailers and brands are responding to the coronavirus global pandemic. As retailers try to figure out how to navigate these uncertain times, it's helpful to look at the ways others in our community are responding. Below are examples of retailers giving back during this time, as…

Businesses Continue to Offer Support During COVID-19 Crisis
March 25, 2020 at 3:36 pm

Total Retail is continuing its daily coverage of the COVID-19 global pandemic, with a specific focus on how retailers and brands are responding to the crisis. As retailers try to figure out the best course of action for their businesses, it's helpful to look at the ways others in the community are responding. Take a look…

Neiman Marcus Closing Most of its Last Call Outlet Stores
March 13, 2020 at 4:00 pm

Neiman Marcus is largely getting out of the discount store business. The Dallas-based upscale department store chain announced on Wednesday that it was closing most of its 22 remaining Last Call discount stores, saying it preferred to focus on its high-end business. The closings will result in 500 jobs being eliminated by the end of…

Where Artificial Intelligence Meets Emotional Intelligence: 3 Steps to Strategic Retail Pricing Transformation
March 12, 2020 at 2:20 pm

For all the talk about the power of artificial intelligence (AI) to drive meaningful transformation for retailers that want to reinvent themselves for today's demanding renvironment, many companies fall short of harnessing the full benefits of AI and analytics for actionable insights. That’s because many of these attempts fail to take into account the human…

Burlington Stores is Shutting Down its E-Commerce Site
March 10, 2020 at 1:21 pm

In a world where retailers are taking the fight for market share online, Burlington Stores says it’s going to end its e-commerce operation and focus on growing its brick-and-mortar business. Burlington’s Chief Executive Michael O’Sullivan said on the company’s earnings call last week that e-commerce only accounts for 0.5 percent of sales, and the company’s efforts…

Gap Names Old Navy Exec Sonia Syngal its New CEO
March 6, 2020 at 11:18 am

Gap Inc. has tapped its Old Navy chief, Sonia Syngal, to be CEO, effective March 23, the company announced yesterday. Syngal has been leading Old Navy’s business since 2016, and has been with Gap Inc. since 2004. She will also be joining Gap’s board of directors later this month, the company said. The announcement comes…

Hudson's Bay Co. to Be Taken Private
March 2, 2020 at 4:00 pm

Hudson’s Bay Co. (HBC) said last week that it won shareholders’ approval to become a private company owned by the group of continuing shareholders led by HBC Governor and Executive Chairman Richard Baker. Other shareholders will get CA$11 ($8.23) per share in cash in the deal, which is subject to customary closing conditions, including court approval.…

NRF Predicts 2020 Retail Sales Will Grow as Consumers Continue to Drive Economy
February 27, 2020 at 1:33 pm

Despite uncertainty from the coronavirus, presidential election and lingering trade war, the National Retail Federation (NRF) forecasts that retail sales will increase between 3.5 percent and 4.1 percent to more than $3.9 trillion in 2020, it announced in a press release yesterday. Matthew Shay, NRF president and CEO, said in the press release that consumers continue…

Pier 1 Imports Files for Bankruptcy, Seeks Buyer
February 18, 2020 at 9:42 am

Pier I Imports has filed for Chapter 11 bankruptcy and said it already has the approval of its lenders to pursue a sale of the company. The home furnishings retailer is in the process of closing up to 450 stores, including all of its stores in Canada. Pier 1 has received about $256 million in debtor-in-possession financing…