Management

Neiman Marcus Likely to File for Bankruptcy Protection This Week
April 26, 2020 at 7:45 pm

Neiman Marcus Group is preparing to file for bankruptcy protection this week, becoming the first major U.S. department store operator to succumb to the economic fallout from the coronavirus outbreak, people familiar with the matter told CNBC. Neiman Marcus, which is held by Ares Management Corp. and the Canada Pension Plan Investment Board (CPPIB), is…

COVID-19 Resources: Legislative Updates, Leadership Strategies and Fun Stuff
April 26, 2020 at 6:58 pm

Welcome to this week's Retail Resources, a blog created to offer retailers the most relevant information and resources from the past week to help you lead during this challenging time. If there's anything you would like me to share in a future post, please let me know by dropping me a line at mcampanelli@napco.com. Legislative Updates…

Tapestry, Inc. to Lay Off 2,100 Part-Time Workers, Plans to Furlough More
April 21, 2020 at 9:17 pm

Tapestry, Inc. announced plans to lay off 2,100 part-time store associates across its Coach, Kate Spade, and Stuart Weitzman brands, effective April 25, reports Footwear News. Each employee will receive a one-time payment of $1,000. The holdings company also said that it would extend salary and benefits to its retail team across North America until May 30, at which time…

A Successful Retail Year Hinges on Staying the Course
April 21, 2020 at 7:49 pm

Global circumstances have driven the retail industry into a period of extremes. Some retailers have closed the doors on brick-and-mortar sales and are experiencing year-over-year revenue loss. Others are struggling to keep up with consumer demand and are hiring thousands of new employees. It feels for many like a time of uncertainty, and while the…

Walmart to Hire 50,000 More Workers Amidst Coronavirus Pandemic
April 19, 2020 at 5:08 pm

Walmart is planning to hire an additional 50,000 associates to help deal with the sustained demand for its merchandise during the coronavirus pandemic, according to an April 17 blog post from Donna Morris, Walmart's executive vice president and chief people officer. In addition, Morris said Walmart has met its hiring goal of 150,000 employees during the crisis. In the post, Morris said…

COVID-19 Resources: Leadership, Job Information, Videoconferencing Tips and More
April 19, 2020 at 9:17 am

Welcome to this week's Retail Resources post, a blog updated each Monday to include the most relevant information and resources I've seen over the past week to help you lead — as well as stay sane — in this unprecedented time. If there's anything you would like me to share in a future post, please…

How the Coronavirus Will Forever Reshape Retail
April 13, 2020 at 8:48 pm

Retailers are being challenged by the global spread of the coronavirus. Many stores are closing their doors and facing a sharp decline in sales, while other retailers, like grocery stores and pharmacies, are seeing increases in sales and dwindling inventory. In this wide-ranging interview, former eBay and Walmart exec, and current head of retail partnerships…

Surviving the Economic Downturn Caused by the Coronavirus
April 13, 2020 at 7:01 pm

As the world struggles to contain the COVID-19 coronavirus, most businesses are struggling as well. They're struggling with ensuring the health of their employees, store closures mandated by the government, unanticipated drops in sales due to pullbacks in consumer spending, fulfilling orders from distribution centers, and identifying how to replace lost sales from brick-and-mortar stores.…

Michigan to Ban Retailers From Selling 'Nonessential' Items and Other COVID-19 News
April 13, 2020 at 9:54 am

Here are the latest stories to emerge as retailers and brands deal with the impact that the global spread of the coronavirus has had on their businesses. This daily update offers retail executives the chance to stay-up-to-date on all that's happening within the retail industry, particularly as they put into motion their own COVID-19 response…

How Coronavirus is Affecting E-Commerce Businesses, and How They Can Adapt
April 13, 2020 at 7:55 am

As consumers are sheltering in their homes, the detrimental impact from the COVID-19 virus is affecting brick-and-mortar retailers and e-commerce retailers alike. During this unprecedented situation, some e-commerce merchants are finding their products are selling faster than average and are having issues keeping up with demand, while most retailers offering “non-essential” products have seen sales…