Management

J.C. Penney Execs Taking $10M From Faltering Company
May 14, 2020 at 7:04 pm

J.C. Penney is reportedly days away from filing bankruptcy and scrambling to get enough financing to allow it to continue to operate under chapter 11 proceedings. It has laid off or furloughed more than 80,000 of its employees and missed payments on two debt payment deadlines. It may also be withholding rent payments at some…

How Consumer Behavior Post-COVID-19 Will Impact Retail Operations
May 13, 2020 at 7:10 pm

During the Women in Retail and Total Retail Virtual Lounge, held on April 28, Chris Rowland, president and CEO of Pet Supplies Plus, participated in an interview that touched on a variety of topics, from changes to brand messaging during COVID-19 to some positive ways he thinks the current climate will reshape retail. In this video clip…

Thinking About Implementing a Compliance Checklist? Read This First.
May 13, 2020 at 4:53 pm

Maybe you’re a nonessential retailer cautiously opening pockets of stores across the country. Maybe you’re an essential retailer frantically trying to adjust to this “new normal” while keeping customers and employees safe. No matter which side of the spectrum you’re on, chances are you’re probably thinking about one thing: checklists. Retailers love checklists. Store audits,…

Neiman Marcus Files for Bankruptcy; No Plans to Liquidate
May 7, 2020 at 4:15 pm

Neiman Marcus Group on Thursday became the first major department store chain to file for bankruptcy protection during the coronavirus pandemic. It’s a stunning fall that follows the collapse of Barneys New York late last year and comes as bankruptcy rumors persist for chains like Lord & Taylor and J.C. Penney. In a statement, the company said it received $675 million…

3 Tips for Navigating This New Retail Reality
May 6, 2020 at 5:22 pm

As coronavirus maintains its hold on us, we’ve continued to hear words and phrases like “uncharted waters,” “unpredictable,” and “uncertain.” A recent Gartner poll revealed that 34 percent of businesses expect reduced levels of business operations due to COVID-19, and the retail industry is no exception. Sales were down 8.7 percent in March per the…

Retailers Are Rethinking Their Operations to Add Resiliency
May 5, 2020 at 5:23 pm

The COVID-19 pandemic continues to take a significant toll on the economy worldwide, and the retail sector has been especially hard hit. While many retailers are still in the reactive phase of store closures due to the drastic shift in consumerism, there's an imperative need to outline a plan that will enable retailers to adapt…

Reports: J.Crew, J.C. Penney, Neiman Marcus Group May File for Chapter 11 by Mid-May
May 3, 2020 at 8:12 pm

Three high-profile, but struggling retailers — J.Crew Group, Neiman Marcus Group, and J.C. Penney Co. — may be preparing to file for Chapter 11 bankruptcy protection by mid-May, according to several reports. Here are some details: J.Crew is working to secure $400 million to fund operations in bankruptcy. The privately held retailer was already struggling with a heavy debt load, but its…

COVID-19 Resources: Leadership, Data, Employment Info., and Fun Stuff
May 3, 2020 at 7:36 pm

Welcome to this week's Retail Resources blog post, a curated list of the best content and resources I've seen over the past week that I hope will help you navigate through the coronavirus pandemic. This week I offer information about leadership, interesting data, employment information, and fun stuff that will hopefully help improve your spirits!…

Chico's Announces New CEO, Cost-Cutting Measures
April 30, 2020 at 4:11 pm

Chico’s FAS has promoted division president Molly Langenstein to president and CEO. The appointment of Langenstein, who had been president of the company’s two largest brands, Chico’s and White House Black Market, since August, is effective June 24. She will be replacing Bonnie Brooks, president and CEO of Chico's FAS, who joined the company last…

Furloughed, But Not Forgotten
April 28, 2020 at 4:42 pm

Retail is a social business, so it’s not surprising that many of us are going stir-crazy while furloughed and stuck at home. If your district or store team is your second family, you’re probably looking for ways to feel a little less isolated. Here are some fun ideas to stay engaged and help your teams…