Management

Sugarfina Files for Bankruptcy, Closing 6 Stores Immediately
September 11, 2019 at 1:21 pm

Upscale candy retailer Sugarfina filed for Chapter 11 bankruptcy Friday and will immediately close six of its 44 boutique stores, reports CandyIndustry.com. The brand cited shifts in the retail sector, uncertainty in its international partnerships, and difficulty in controlling margins as reasons for not being profitable, and reports having $26.65 million in debt. Sugarfina began searching for…

New Study Reveals How Partnerships Help Retailers Grow 2X Faster
September 10, 2019 at 1:44 pm

What’s the next disruptor for retail, the one thing that will make the big difference in engaging new customers? Recently, retailers tested new ways to shake up their business model by offering subscription-based services or on-demand experiences personalized for the consumer based on their needs. That’s been good. However, what’s driving nearly 30 percent of…

Fred's Files for Bankruptcy Protection, to Close All of its Stores
September 10, 2019 at 9:17 am

Discount retailer Fred’s announced Monday it is filing for Chapter 11 bankruptcy protection and closing all of its stores. The company said liquidation sales at retail locations will be completed over the next 60 days. The bankruptcy is a sign that cost-cutting measures such as the shuttering of hundreds of unprofitable stores and inventory clearance sales couldn't save the retailer.…

Tapestry Appoints Jide Zeitlin as New CEO
September 4, 2019 at 2:20 pm

Tapestry, the parent company of brands Coach, Stuart Weitzman, and Kate Spade, announced the appointment of Jide Zeitlin as its new CEO, effective immediately, reports CNBC. Zeitlin replaces Victor Luis, who worked at the company for 13 years and became CEO in 2014. During his tenure, Luis oversaw the transformation of the company name from…

Forever 21 Said to Be Preparing for Bankruptcy Filing
August 29, 2019 at 11:44 am

Forever 21 Inc. is preparing for a potential bankruptcy filing as the fashion retailer’s cash dwindles and turnaround options fade, according to people with knowledge of the plans. The company has been in talks for additional financing and working with a team of advisers to help it restructure its debt, but negotiations with possible lenders have so…

Overstock CEO Patrick Byrne Resigns Amidst Unusual Circumstances
August 23, 2019 at 10:23 am

For two decades as the CEO of Overstock.com, Patrick Byrne has never been far from controversy. He posted elaborate theories on his personal website, railed against an unnamed Wall Street figure he named the Sith Lord and then, last week, delivered the most eyebrow-lifting tale of all. Byrne — operating on the advice, he said,…

Barneys New York Files for Bankruptcy
August 6, 2019 at 9:56 am

Barneys New York, an icon of New York retail, filed for bankruptcy early Tuesday morning, with a plan to significantly reduce its physical footprint, as it looks for a buyer to stave off liquidation. The retailer said it will focus on running only five of its more than 10 namesake stores: on New York’s Madison…

Poshmark Suffers a Data Breach
August 5, 2019 at 2:27 pm

In a post to its company blog last week, popular fashion resale platform Poshmark announced that its servers had been accessed by an "unauthorized third party." The hackers stole private data from users in the U.S. that included personal email addresses, Poshmark account usernames, clothing size preferences, and social media account information. Poshmark, which is…

Nordstrom Family Reportedly Wants to Increase Stake in Retailer
August 1, 2019 at 12:50 pm

A group of Nordstrom family members are interested in increasing their stake in the department store, according to CNBC. Currently the group owns 31.2 percent of Nordstrom, and they're reportedly working on a proposal to raise their ownership stake to at least 50 percent. Last year, the family decided not to take Nordstrom private after an initial offer of…