Management

Kohl's to Reduce Corporate Staff by 15% in Cost-Cutting Move
September 17, 2020 at 11:56 am

After six months of slumped sales because of the coronavirus pandemic, Kohl's announced this week that it was reducing its corporate workforce by around 15 percent. The department store chain has taken a hit during the pandemic that closed all of its more than 1,100 stores this spring. Net sales were down 32.8 percent in the six…

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…

RTW Retailwinds' E-Commerce Business, Intellectual Property Sold to Investment Group for $40M
August 31, 2020 at 6:04 pm

The e-commerce business and intellectual property of omnichannel specialty retailer RTW Retailwinds were sold at bankruptcy auction last week to investment firm Saadia Group for $40 million plus assumption of certain liabilities, including honoring gift cards. Assets include websites run by the apparel company, which was previously known as New York & Co. Those sites include www.nyandcompany.com,…

10 Tips for Creating the New Retail Digital Experience
August 31, 2020 at 3:48 pm

In this unpredictable world of 2020, it’s critical that retailers drive customer engagement and focus on customer satisfaction. COVID-19 has turned our lives — personal and professional — upside down. The good news is that the craziness of this year has taught us that we're all capable of change, even rapid change. Yet the road…

Longtime Zappos CEO to Retire; Replacement Named
August 27, 2020 at 8:54 pm

Following Tony Hsieh’s decision to step down as CEO of Zappos after 21 years, Kedar Deshpande has taken the reins at the Amazon-owned company. Importantly, Deshpande — who joined Zappos in 2011 — understands the unique corporate culture and company values that Zappos is well known for. He will lead Zappos as the retailer continues to expand…

Amazon's Consumer Business Chief to Retire Early Next Year
August 24, 2020 at 5:18 pm

Jeff Wilke, the chief executive of Amazon.com's consumer business, said on Friday he planned to retire early next year after more than two decades with the company. The news was announced via an internal memo posted to the company’s corporate blog. WIlke was one of two chiefs of specific businesses at Amazon who report directly to Jeff…

Footwear Retailer Payless Returns to North American Market
August 19, 2020 at 4:11 pm

Footwear retailer Payless has relaunched into the North American market after filing for Chapter 11 bankruptcy and shuttering over 2,000 stores in early 2019. The discount shoe chain announced in a press release that with this relaunch it's unveiling an immersive e-commerce platform as well as new brick-and-mortar retail concept stores. In the release, Payless…

Report: Amazon to Turn Mall Department Stores Into Fulfillment Centers
August 10, 2020 at 5:27 pm

Amazon.com is in discussions with mall owner Simon Property Group about using some closed J.C. Penney and Sears stores in its malls for fulfillment centers, The Wall Street Journal reported on Sunday. The talks have been ongoing for months, the sources said. “For Amazon, more fulfillment centers near residential areas would speed up the crucial last mile of delivery,”…