Management

Amazon Pulls Out of Planned New York City Headquarters
February 14, 2019 at 2:51 pm

Amazon.com on Thursday canceled its plans to build an expansive corporate campus in New York City after facing an unexpectedly fierce backlash from some lawmakers and union leaders, who contended that a tech giant didn't deserve nearly $3 billion in government incentives. The retail giant, as part of its extensive search for a new headquarters, had…

Payless Prepares for Bankruptcy Filing, Store Closures
February 12, 2019 at 2:53 pm

Payless Inc. is preparing for its second trip to bankruptcy court with a plan that could drastically shrink the size of the discount shoe chain, according to people with knowledge of the matter. The retailer is seeking a loan to get through bankruptcy proceedings and discussing plans to shutter a significant portion, and potentially all, of…

Toys”R”Us is Now Tru Kids Inc.
February 11, 2019 at 2:14 pm

Toys”R”Us  has officially emerged as Tru Kids Inc., a  new company, with new leadership and a new vision, according to a press release published today. Effective Jan. 20, Tru Kids Inc. doing business as Tru Kids Brands, became the parent company of Toys”R”Us, Babies”R”Us, Geoffrey and more than 20 consumer toy and baby brands. Tru Kids is…

Sears Gets a Lifeline: Bankruptcy Judge Approves Sale to Lampert
February 8, 2019 at 2:47 pm

Sears Holdings got a new lifeline yesterday as its sale to company chairman Eddie Lampert, through an affiliate of his hedge fund ESL Investments, was approved by a federal bankruptcy court judge, according to CNBC. ESL has said the $5.2 billion deal to buy Sears will save 425 stores and roughly 45,000 jobs. While an initial…

Retailers That Plan for a Market Downturn Are More Likely to Thrive
February 7, 2019 at 3:31 pm

Retailers today can be categorized into survivors and thrivers, and more than half (54 percent) of traditional retailers are only surviving — breaking even, according to BDO’s Retail Rationalized Survey of 300 C-suite executives. Thrivers, by comparison, are profitable, making smart bets and focused on standing out from the competition. As 2019 unfolds, retailers will be trying to differentiate from the competition by improving customer experience, investing in digital technology, and even partnering with startups. But the proactive thrivers will be better positioned to navigate the much-anticipated market correction.

Francesca's CEO Resigns, Retailer Explores Potential Sale
February 1, 2019 at 12:35 pm

Francesca's CEO Steve Lawrence has resigned as the struggling Houston-based retailer explores "strategic alternatives," including a potential sale. The women's apparel and accessories chain announced Thursday it has appointed Michael Prendergast as its interim chief executive effective immediately, following Lawrence's resignation Wednesday. Prendergast is a senior director in the private equity performance improvement division of…

Michaels to Shutter Pat Catan's Stores
January 31, 2019 at 2:37 pm

The Michaels Companies announced this week that it will close all of its Pat Catan’s stores in the fourth quarter of fiscal 2018 (March). Pat Catan’s is a retailer of arts and crafts in Ohio and surrounding states, including Pennsylvania, Michigan and West Virginia. Michaels intends to rebrand 12 of the 36 Pat Catan’s stores…

FAO Schwarz: Back from the Dead
January 31, 2019 at 12:31 pm

FAO Schwarz, the iconic toy retailer, closed its last store, the New York City Fifth Avenue flagship, in 2015. Dead and gone? Not quite. The buyer of the FAO intellectual property (purchased in 2016), ThreeSixtyGroup, opened a new flagship in New York’s Rockefeller Plaza on Nov. 16, 2018 to much fanfare. Will this brand revival…