Management

Retailers Need to Plan for Recovery. Here’s How They Can Start. 
August 6, 2020 at 2:30 pm

The retail industry has seen significant damage as a result of unprecedented supply chain disruptions, wavering consumer confidence, and technological gaps for those making the leap from brick-and-mortar to digital storefront. Many retailers had just started to return to normalcy earlier this year, following a two-year trade war — and a promising Phase One deal…

COVID-19 Pandemic Presents Opportunities for CVS
August 5, 2020 at 4:23 pm

CVS Health is focused on providing services that are in high demand as the pandemic puts health care top of mind, CNBC reported. The pharmacy chain has opened more than 1,800 drive-thru sites for COVID-19 testing, launched a new B-to-B testing program for colleges and corporations, and is preparing to administer flu shots this coming…

Lord + Taylor, Tailored Brands File for Bankruptcy Protection
August 3, 2020 at 5:49 pm

Lord + Taylor, one of America's oldest department stores, has filed for bankruptcy, joining a growing list of stores slammed by the coronavirus pandemic. In addition, Tailored Brands, the parent company of Men's Wearhouse and JoS. A. Bank, also filed for bankruptcy. Lord + Taylor, which was sold to rental clothing company Le Tote last…

L Brands to Lay Off 15% of Corporate Workforce
July 30, 2020 at 2:45 pm

L Brands, parent company of Victoria's Secret, Bath & Body Works, and PINK,  said earlier this week that it's preparing to cut 15 percent of its corporate workforce, or about 850 jobs, in a bid to trim costs as its business takes a hit from the coronavirus pandemic. The company said it hopes to save about $400 million…

Mall Owner Simon and Authentic Brands Make $305M Bid for Bankrupt Brooks Brothers
July 27, 2020 at 3:29 pm

SPARC LLC, a full-service retail operator comprised of the U.S. mall owner Simon Property Group and the apparel licensing firm Authentic Brands Group (ABG), has made a $305 million bid for bankrupt Brooks Brothers, according to a court filing published last week. The offer, still subject to better and higher bids and court approval, will keep at least 125…

Using Agile Principles to Re-Open and Recover Your Retail Business
July 16, 2020 at 5:24 pm

Retailers across the country have started to reopen their storefronts, clearing the path for recovery from the devastating global pandemic. While the coronavirus has sparked uncertainty in retailers’ futures, it has also brought about new ways of working in retail. These new ways are largely rooted in pre-pandemic trends that have accelerated — e.g., the…

New York & Co. Owner RTW Retailwinds Files for Bankruptcy
July 13, 2020 at 12:37 pm

New York & Co. parent company RTW Retailwinds announced Monday it had filed for Chapter 11 bankruptcy protection and plans to permanently close most, if not all, of its stores. The company said it has kicked off liquidation sales already, with about 92 percent of its brick-and-mortar locations back open during the coronavirus pandemic. RTW Retailwinds said…

Brooks Brothers Filed for Bankruptcy and is Seeking a Buyer
July 8, 2020 at 7:46 pm

Retail brand Brooks Brothers filed for Chapter 11 bankruptcy on Wednesday and is searching for a buyer, CNBC reported. Brooks Brothers is one of the country's oldest retailers, having been founded in 1818, and is best known for its polos and prepster attire. Rent had become a burden for the iconic retailer, and the disruption…

Lucky Brand Files for Bankruptcy, Has Offer to Sell Company
July 7, 2020 at 6:24 pm

Los Angeles-based retailer Lucky Brand filed for Chapter 11 bankruptcy protection on Friday, reports AP News. The apparel retailer blames its troubles in part on the coronavirus pandemic and said it plans to close 13 stores immediately, with more closures possible during the bankruptcy process. Lucky Brand said it has a deal lined up to…

What’s Next: Post-COVID Strategy for Retailers
July 6, 2020 at 4:17 pm

As more and more states and cities inch toward a post-COVID existence, many considerations are falling on the shoulders of retailers. So much changed for people during quarantine, and how they shop is likely at the top of the list. Retailers, both online and brick-and-mortar, have to rethink their customer experience so that people are…