Management

Gap Inc. is cutting about 500 corporate jobs as the apparel retailer struggles with declining sales. The job cuts, which include open positions, will be primarily at Gap’s offices in San Francisco, New York and Asia, and hit various departments, a representative for the retailer confirmed Tuesday. The moves were first reported by The Wall Street…

Tuesday Morning Corp., the Dallas-based off-price home goods retailer, has entered into an agreement to secure $32 million in debt financing from a special purpose vehicle (SPV) formed by Retail Ecommerce Ventures (REV) — the owner of Pier 1 Imports, Linens ‘n Things, Stein Mart, Modell’s Sporting Goods — and Ayon Capital LLC. Additionally, several members of…

Gustavo Arnal, Bed Bath & Beyond's executive vice president and chief financial officer, died from an apparent suicide on Sept. 2, after falling from the Manhattan skyscraper where he lived, according to a report from the New York's medical examiner’s office. Arnal joined Bed Bath & Beyond in May 2020 following a career in finance at Avon, Walgreens Boots…

Bed Bath & Beyond CEO Sue Gove said on a call with investors Wednesday that "in order to accelerate our turnaround," the troubled retailer has secured $500 million in financing, will close select stores, and institute layoffs among its corporate and supply chain staff. In her strategic update to investors Wednesday, Gove said she expects…

Rising prices and consumers shopping for more immediate needs has disrupted back-to-school shopping season performance, according to research from The NPD Group, which recently merged with Information Resources, Inc. In the first seven weeks of the back-to-school shopping season, U.S. non-school-related general merchandise sales revenue grew 4 percent, NPD found, while school spending fell short of last…

Adidas AG’s supervisory board has initiated a CEO transition, the sports retailer announced Monday. Kasper Rorsted will hand over the CEO position next year, and the search for a successor has started. Rorsted, who has been CEO since 2016, and its supervisory board “mutually agreed” on the decision. He will remain CEO until a successor has…

Foot Locker announced last week that Mary Dillon, the former executive chair and CEO of Ulta Beauty, has been appointed president and CEO and a member of the Foot Locker board, effective Sept. 1. She will succeed Richard A. Johnson, who will retire on the same day. Johnson will continue as executive chairman of the board through Jan. 31, 2023,…

Nike is again closing its global offices to encourage employee well-being, reports FootwearNews. This will be the athletic wear brand's second annual “Well-Being Week,” continuing efforts to give its employees rest and recovery. In addition to closing its corporate and Air Manufacturing Innovation (Air MI) offices, the retailer will give its retail store and distribution center staff a week’s…

How can retailers succeed in this new era of inflation, economic uncertainty and lightning-fast technological change? What companies will succeed, and which ones will fall behind? Of course, without a crystal ball, it's impossible to be sure. But looking at the emerging trends in retailing over recent years, a picture begins to emerge of those…

The direct-to-consumer pioneer and eyeware brand Warby Parker is eliminating 63 corporate positions, or 15 percent of its corporate workforce, Business Insider first reported this week. In an internal memo to employees, Warby Parker co-founders Neil Blumenthal and Dave Gilboa said the layoffs included customer-facing roles on the retail and consumer experience teams, as well…