Management

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…

Dave Ramsey’s Retail: Baby Steps to Leave a Retail Legacy
August 1, 2019 at 12:41 pm

“To be in a different place, you must believe and do things differently.” — Dave Ramsey It isn’t often you read about the meaning of life in a trade publication, but I think we can mostly agree that leaving a legacy floats near the top of everyone’s “bucket list.” Whether that legacy is a healthy inheritance…

Ask the Experts: 3 Questions About Retail Cash Flow and Inventory
July 29, 2019 at 11:40 am

The retail sector is undergoing tremendous change, with a growing volume of sales shifting to e-commerce sites. But for owners of all types of retail businesses, issues related to cash flow and inventory remain a primary concern. According to an exclusive Kabbage survey of independent retailers, more than 40 percent cite inventory as their largest…

What Kohl’s Recent Partnerships With Planet Fitness and Amazon Reveal About the Future of Retail
July 26, 2019 at 12:03 pm

Uncommon retail partnerships have been dominating the trade news recently. In March, Kohl's announced a partnership with Planet Fitness. In April, the department store chain announced the expansion of its Amazon.com return program to all of its store locations. There have been other partnerships as well, such as the Kroger pickup option inside Walgreens’ stores, Capital…

GNC to Close Up to 900 Stores
July 23, 2019 at 11:44 am

Health and wellness retailer GNC plans to close up to 900 stores, with big cuts to mall locations expected. Officials with the Pittsburgh-based chain spoke of their continued "store optimization effort" during GNC's second-quarter earnings call with analysts Monday. In the first six months of 2019, GNC records show 192 company-owned and franchise locations have…

Report: Walmart Shuffling Execs to Further Integrate Stores, Digital
July 22, 2019 at 2:34 pm

Walmart is making further organizational changes as it continues to integrate its store and digital operations and leadership, according to a July 19 memo obtained by CNBC that was sent by CEO Doug McMillon to the retailer’s employees. The biggest change announced is Walmart's move to bring the U.S. supply chain teams together, which will be led…