The volatile economy has generated a lot of uncertainty over the past year, causing employees to want stability and, therefore, stay at their current jobs. The 2.1 percent quit rate in January was the lowest level since August 2020 โ despite multiple companies offering higher wages. To attract and retain the best employees, retailers needโฆ
99 Cents Only Stores announced last week that it had filed for bankruptcy protection in the United States Bankruptcy Court for the District of Delaware, days after it said it was closing all of its 371 locations. Founded in 1982, 99 Cents Only Stores currently operates stores in California, Texas, Arizona and Nevada. Number Holdings, Inc., the parent companyโฆ
The Home Depot said yesterday it is acquiring SRS Distribution Inc. (SRS) -- a materials provider across several verticals serving professional roofers, landscapers and pool contractors -- in a deal valued at approximately $18.25 billion. It would be Home Depot's largest acquisition in its history. The home improvement retailer expects the acquisition to close thisโฆ
Visa, Mastercard, and the banks that issue cards with them agreed to pay $30 billion in a lawsuit settlement that was first brought to the courts by merchants in 2005 . In reaching a settlement, Visa and Mastercard agree to lower credit interchange rates and cap those rates into 2030 in the US, according toโฆ
Canada Goose said Tuesday that it will cut about 17 percent of its corporate workforce, reports CNBC. This announcement follows a string of other retailers that have laid off employees this year as consumers continue to pull back on discretionary spending. The cuts will affect staff at Canada Gooseโs corporate headquarters in Toronto, which hadโฆ
The Federal Trade Commission (โFTCโ) is set to release an updated version of its Guides for the Use of Environmental Marketing Claims this year. These โGreen Guidesโ โ which haven't been updated in over a decade โ do not have the force of law but provide marketers with guidance on how to make properly substantiatedโฆ
Target will double its bonus payments to salaried employees this year, as the big-box retailerโs profits recover from a bumpy nearly two-year stretch, reports CNBC. In a statement, Target said the annual bonus payout is based on how the retailer performs against sales and profit goals set at the beginning of the fiscal year. Salariedโฆ
As it faces regulatory scrutiny over its potential merger with Albertsons, grocery chain Kroger has decided to sell off its specialty pharmacy business to CarelonRx, a subsidiary of Elevance Health. In a press release Monday, Kroger said the sale is expected to close in the second half of the year. "As part of our regularโฆ
Joann, the 81-year-old fabric and craft retailer, has filed for bankruptcy as it struggles with customers cutting back on discretionary spending. In a statement released on Monday, the Ohio-based company said it filed for Chapter 11 bankruptcy protection and has secured $132 million in funding with most of its financial stakeholders that helps reduce itsโฆ
Kevin Plank, the founder of Under Armour, is returning to the helm of the Baltimore-based athletic wear maker, the company announced in a Wednesday afternoon press release. Plank is set to be president and CEO starting April 1. He will succeed Stephanie Linnartz, who had been in the position for little more than a year.โฆ