Managing

Vintage Capital to Buy Rent-A-Center for $1.37 Billion
June 18, 2018 at 2:26 pm

Rent-A-Center, a company that rents out furniture and electronics and also allows customers the ability to own the products through a lease program, said today that it will be acquired by an affiliate of buyout firm Vintage Capital Management in a deal valued at $1.37 billion, including debt. The affiliate, Vintage Rodeo Parent, will buy the company…

Lord & Taylor to Close 10 Stores, Including Fifth Avenue Flagship
June 7, 2018 at 2:19 pm

The Hudson’s Bay Co., continuing to suffer same-store sales declines across most of its divisions, is trimming costs by closing 10 Lord & Taylor stores, including its flagship location on Fifth Avenue in Manhattan. HBC revealed the planned closures as it reported a net loss of 400 million Canadian dollars, or $308 million, for the…

Costco is Set to Raises Wages for 130,000 Employees
June 4, 2018 at 1:51 pm

Nearly 130,000 Costco employees are poised to get a pay raise starting on June 11. According to the Seattle Times, in a May 31 call with investors, CFO Richard Galanti said that the starting wage for Costco employees would go up $1 to $14 or $14.50 per hour, while other warehouse employees would see hourly raises…

BJ’s Wholesale Club Plans Public Market Return With IPO Filing
May 21, 2018 at 1:25 pm

BJ's Wholesale Club filed for an initial public offering with regulators last week to list itself on the New York Stock Exchange, marking its bid to become a public company again. The company, which was taken private in 2011 for $2.8 billion in cash by private equity firms Leonard Green & Partners and CVC Capital Partners, will list…

Billionaire Toy Maker's Bid to Save Toys"R"Us Stores Rejected
April 19, 2018 at 4:09 pm

Toys“R”Us Inc.’s lawyers and advisers have shot down an 11th-hour offer from a billionaire toy maker that would have kept some of its U.S. stores open, according to a person familiar with the matter. The Wall Street Journal reports that Isaac Larian, founder of Bratz dolls maker MGA Entertainment, Inc., came forward last week with a…

New Executives Named at Jet.com, ModCloth, Tapestry
March 26, 2018 at 3:31 pm

A flurry of management changes have taken place at leading retailers recently, including Jet.com, ModCloth and Tapestry. Jet.com: Walmart's Jet.com has named Tesco veteran Simon Belsham as president of the e-commerce company, effective immediately, the company told CNBC on Monday. Belsham will be responsible for expanding Jet's online grocery business, Walmart E-Commerce CEO Marc Lore…

Whole Foods Execs Leaving As Amazon Takes Over
March 22, 2018 at 3:34 pm

Whole Foods has lost more than a dozen executives and senior managers since Amazon.com acquired it last summer, The Wall Street Journal has reported, citing former employees and recruiters helping them look for new jobs. Management departures are common when a company is bought, but one former employee told WSJ that "culturally, it's been a rough…

Best Buy to Close All Mobile Phone Stores
March 1, 2018 at 2:21 pm

Best Buy is planning to close all of its roughly 250 smaller-format mobile phone stores by the end of May, according to a report in the a StarTribune. The stores, most of which are in shopping malls and much smaller than Best Buy’s big-box locations — have become less profitable for the company. Best Buy…

Report: Nordstrom Family Reviving Effort to Take Company Private
February 27, 2018 at 12:38 pm

The Nordstrom family is reviving an effort to take their namesake retail company private, according to unnamed sources cited by Reuters on Friday. The family had suspended its effort in October, but said it intended to resume exploration of a take-private offer after the holidays. Reuters reported that the family met with investment bankers last…

Lowe's Launches Job-Training Pilot Program for Skilled Trades
February 26, 2018 at 2:06 pm

Lowe’s last week launched its Track to the Trades program, a workforce development initiative designed to provide support for employees who want to pursue job training for skilled trades. Lowe's has partnered with adult education program Guild Education on the Track to the Trades program. The initiative comes at a time when the skilled trade…