Posts in tag

Apparel Retail


A person looks into a closed Macy’s Inc. department store near Union Square in San Francisco, California, U.S., on Thursday, June 18, 2020. Michael Short | Bloomberg | Getty Images Macy’s announced Thursday it is cutting 3,900 corporate jobs — 3% of its total workforce — to reduce costs as it struggles with the effects of …

Shoppers enter a building housing a Bed Bath & Beyond Inc. store in New York. Mark Kauzlarich | Bloomberg | Getty Images For many, the holidays spark joy, and are a time to relax in the comfort of family and friends. If you’re in retail, however, it’s a bit of a different story — especially …

Patrik Frisk to replace Kevin Plank as new CEO. CNBC A new year will bring a new CEO to Under Armour. In a surprise announcement, Kevin Plank, who founded the company in 1996 while still in college, announced Tuesday he is stepping down as CEO. He will be replaced by Chief Operating Officer Patrik Frisk, effective …

A pedestrian carries a Macy’s Inc. shopping bag while walking past a store in New York. Idris Talib Solomon | Bloomberg | Getty Images Holiday retail sales in November and December — excluding automobiles, gasoline and restaurants — are expected to increase between 3.8% and 4.2% this year, reaching between $727.9 billion and $730.7 billion, …

Forever 21 on Tuesday released a list of the nearly 180 locations it could potentially close as part of its bankruptcy proceedings. When the apparel retailer filed for bankruptcy on Sunday evening, it said it had 549 stores in the U.S. and 251 locations internationally. The planned closures represent about a third of Forever 21’s …

Marc Lore, head of Walmart’s U.S. e-commerce business, and Doug McMillon, CEO of Walmart. Getty Images Walmart’s attempt to catch up with Amazon comes at a huge cost — and it’s stirring up hard feelings within the company. While Walmart has been making investments — like buying Jet.com for $3.3 billion — to try to …

More than two years after Walmart bought Jet.com, the big-box retailer is taking steps to more fully integrate and fold the e-commerce platform into its own business. As part of the changes it has planned, Simon Belsham’s role as Jet president will be eliminated, and Jet team leaders will now report to Kieran Shanahan, who’s …