Managing

Report: Sears Employees Ask for Severance
December 3, 2018 at 1:18 pm

Dozens of current and former Sears Holdings Corp. employees sent a letter to Chairman Edward Lampert and other creditors on Thursday, asking them to pay severance and save as many jobs as possible as the retailer goes through bankruptcy, The Wall Street Journal reported. "While we understand Sears and Kmart must make changes to survive, we…

Announcing Total Retail’s 8th Annual Top 100 Fastest-Growing Retailers List
October 23, 2018 at 1:47 pm

Total Retail is excited to present its eighth annual ranking of the 100 fastest-growing publicly traded retailers. This year’s list, as in years past, is based on companies’ year-over-year net sales growth, comparing the 2017 fiscal year to the 2016 fiscal year. For the first time in the eight years that Total Retail has complied…

Online Sales Tax Laws Go Into Effect in 10 States Today
October 1, 2018 at 2:02 pm

Ten states will start collecting sales tax from out-of-state online retailers starting today, thanks to a series of new laws created in response to the South Dakota v. Wayfair case the U.S. Supreme Court decided in June. In deciding the case, the Supreme Court overturned a ruling (Quill Corporation v. North Dakota) that said the Constitution bars states from requiring…

Henri Bendel Closing All Stores, E-Commerce Site
September 17, 2018 at 2:44 pm

With a focus on increasing shareholder value, L Brands announced last week that it will be shuttering all 23 Henri Bendel stores and the Henri Bendel e-commerce website. The stores include Henri Bendel's Fifth Avenue flagship store as well as smaller-format stores in 11 states. All stores and the website will remain in operation through January 2019, with new merchandise continuing to arrive…

Macy’s to Hire 80,000 Seasonal Workers This Year
September 12, 2018 at 1:30 pm

Macy's plans to hire 80,000 seasonal workers for positions at its Macy’s and Bloomingdale’s stores, call centers, distribution centers and online fulfillment centers nationwide for the 2018 holiday season, according to a company press release. Macy’s, which is forecasting a strong holiday shopping season, will staff 23,500 positions at its fulfillment centers to help with…

Former Barnes & Noble CEO Sues Company Over Firing
August 29, 2018 at 2:57 pm

The former chief executive of Barnes & Noble Inc. is suing the bookseller, accusing the company’s executive chairman of fabricating reasons to fire him a month after a deal to sell the company fell apart, according to Reuters. Barnes & Noble announced on July 3 that Demos Parneros, the company's former CEO, was terminated following multiple violations…

Barnes & Noble Fires CEO for Violating Company Policies
July 5, 2018 at 10:26 am

Barnes & Noble has fired its CEO Demos Parneros for violating company policies. The company's statement didn't indicate exactly which policies were violated, however, it did note that Parneros’ termination "is not due to any disagreement with the company regarding its financial reporting, policies or practices or any potential fraud relating thereto." Parneros will not receive…

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…