Management
February 23, 2021 at 2:17 pm
Kohl’s said Monday that it has rejected an investor group’s attempt to seize control of its board, saying it would disrupt the momentum it has in revamping its business, reports CNBC. The retailer’s shares soared more than 8 percent in trading Monday, after a group of activist investors confirmed it has nominated nine directors to…
February 11, 2021 at 4:25 pm
Target will offer its employees free transportation and pay for the time taken to receive the COVID-19 vaccine, and Target-owned grocery delivery service Shipt will also offer stipends to its contract workers. All Target hourly employees who choose to get vaccinated will get up to four hours of pay — two hours for each dose…
February 3, 2021 at 5:54 pm
After 27 years of running the e-commerce giant, Jeff Bezos is stepping down as CEO of Amazon.com, CNBC reported. The entrepreneur is handing over the CEO role to Amazon's top cloud executive, Andy Jassy, while Bezos will transition to executive chairman of the company's board in this year's third quarter. Jassy has been with Amazon…
February 3, 2021 at 5:01 pm
After a challenging 2020, retailers are eyeing the year ahead with quiet optimism. The arrival of coronavirus vaccines means an end could be in sight to the constant closing and reopening that defined the last year, and stores can look forward to a release of pent-up spending when shoppers venture back out. However, nothing should…
January 27, 2021 at 6:02 pm
Drugstore chain Walgreens has hired a new CEO. Starbucks Chief Operating Officer Rosalind Brewer will replace Stefano Pessina as CEO of Walgreens Boots Alliance, CNBC reported. Starbucks announced Brewer's departure yesterday, explaining that she was leaving the coffee company at the end of February for a CEO position at an undisclosed corporation. This hire will make Brewer…
January 25, 2021 at 6:40 pm
Target said Monday it will spend $200 million on another round of employee bonuses and extend its coronavirus-related benefits after its strong holiday season. Indeed, Target has been one of the beneficiaries of pandemic trends, as shoppers consolidate trips, fill up bigger baskets and use curbside pickup. That pattern continued over the holidays, boosting the…
January 21, 2021 at 6:53 pm
Teen apparel retailer American Eagle Outfitters (AEO) outlined plans to close hundreds of stores in the coming years, while it looks to grow it lingerie and activewear brand Aerie to a $2 billion business. Chief Financial Officer Mike Mathias said during a virtual meeting with investors that AEO, which has about 880 stores, is looking to…
January 18, 2021 at 12:49 pm
Holiday retail sales rose a stronger-than-expected 8.3 percent from 2019, or $789.4 billion, according to data released by the National Retail Federation on Friday. Consumers apparently embraced the gift-giving season as a way to cheer themselves up during the pandemic. The numbers include online and other non-stores sales, which were up 23.9 percent at $209 billion. The NRF had forecast that sales during…
January 13, 2021 at 5:23 pm
COVID-19 has all companies scrambling to make sense of what the future will look like for their businesses. For retailers, brick-and-mortar real estate is perhaps the most integral part, leaving many to question the best path forward should the country face an even more prolonged lockdown. Do you shutter certain stores? What's the right balance between…
January 11, 2021 at 8:32 pm
Amazon.com has shuttered Amazon Pantry (originally known as Prime Pantry), its grocery and household essentials delivery service, according to Bloomberg.com. Launched in 2014, Amazon Pantry was one of the retailer’s first forays into selling food online. It featured a selection of shelf-stable food and snacks, as well as cleaning products, designed to get shoppers to…
