Financial News: Page 285
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Nordstrom CIO next to go as tech team reshuffle continues
The announcement of Dan Little's pending exit comes just two weeks after the departure of CTO Kumar Srinivasan.
By Daphne Howland • Jan. 19, 2017 -
Toys 'R' Us holiday sales fall flat
The toy retailer experienced the same increased competition and discounting that took a toll on many big-box retailers this holiday season.
By Daphne Howland • Jan. 18, 2017 -
Target slashes guidance after disappointing holiday quarter
A good Black Friday and strong e-commerce sales couldn’t make up for store traffic declines and heavy discounting.
By Daphne Howland • Jan. 18, 2017 -
Deep Dive
Why selling Craftsman sounds the death knell for Sears
The embattled retailer unloaded its signature tool brand to Stanley Black & Decker for $900 million — and, experts say, lost something that money can't buy in the process.
By Jason Ankeny • Jan. 18, 2017 -
J.C. Penney bringing Nike shops to 600-plus stores
The 500-square-foot concessions will be festooned with giant Nike “swoosh” signs, what the retailer calls “motivating” images of Nike-wearing athletes, dedicated mannequins and updated lighting.
By Daphne Howland • Jan. 18, 2017 -
UPDATE: Lowe's cuts 2,400 jobs in major workforce shift
The home improvement retailer will eliminate positions in back offices in favor of deploying more customer-facing help.
By Daphne Howland • Jan. 18, 2017 -
Fed chief Dudley: Border adjustment tax could have 'unintended consequences'
At the NRF’s Big Show 2017, Federal Reserve Bank of New York President and CEO William Dudley warned that the Republican-sponsored border tax could spur retailers to increase prices to remain profitable.
By Corinne Ruff • Jan. 17, 2017 -
The Limited files for bankruptcy
After closing all of its stores and moving operations online earlier this month, the retailer has agreed to a stalking horse bid for its intellectual property and assets.
By Corinne Ruff • Jan. 17, 2017 -
After holiday sales slump, Tiffany names designer Reed Krakoff as chief artistic officer
Krakoff, who served as a creative collaborator with the re-launch of a luxury accessories collection, will spearhead the artistic vision of the upscale jeweler.
By Daphne Howland • Jan. 17, 2017 -
American Apparel begins layoffs at HQ, factories
New owner Gildan sources most of its textiles in overseas factories and will not continue American Apparel’s Los Angeles operations, signaling a loss for U.S. apparel manufacturing.
By Daphne Howland • Jan. 17, 2017 -
Wal-Mart staffing shakeup to align store, digital operations
Amid significant shakeups in its corporate offices and store back rooms in recent months, Wal-Mart plans to also add store associates, e-commerce fulfillment workers and boost training of store personnel.
By Daphne Howland • Jan. 17, 2017 -
H&M misses expectations for holiday sales growth
The retailer, which has expanded its store count despite tepid sales, had warned it might need to employ heavy discounts to get through the holidays.
By Daphne Howland • Jan. 17, 2017 -
Report: Wet Seal weighs sale or bankruptcy
Sources told Bloomberg that private equity firm Versa, which bought the struggling apparel retailer in 2015, prefers a sale.
By Daphne Howland • Jan. 17, 2017 -
Amazon reportedly seeks FCC approval for wireless tests at Seattle HQ
Amazon has asked to conduct wireless technology tests at its Seattle headquarters and one of its customer service facilities elsewhere in Washington.
By Dan O'Shea • Jan. 16, 2017 -
Intel launches store management platform, pledges $100M retail investment
The investment is aimed at helping retailers achieve more efficient store environments with an assist from the Internet of Things.
By Dan O'Shea • Jan. 16, 2017 -
NRF Foundation unveils retail education, credentialing program
The RISE Up effort brings together 21 merchants who’ve pledged to help individuals secure the skills and training they need to land jobs in the retail sector, regardless of their educational background, economic means or age.
By Jason Ankeny • Jan. 15, 2017 -
Analyst: Amazon hiring binge hints at physical store plans
The retail giant said on Thursday that it’s hiring 100,000 full-time workers for its expanding fulfillment network, but one expert says the numbers indicate accelerated brick-and-mortar growth, too.
By Daphne Howland • Jan. 13, 2017 -
Amazon steals Target tech star to lead overseas Prime expansion
Jamil Ghani, formerly Target's senior vice president of enterprise strategy and innovation, will spearhead Prime operations as the e-commerce giant continues to grow the program's international reach.
By Daphne Howland • Jan. 13, 2017 -
American Apparel factory sold to Los Angeles textile company
Joel Chun, who owns West Coast Textile, said that he’s working closely with American Apparel's human resources department to preserve some 200 jobs at the facility.
By Daphne Howland • Jan. 13, 2017 -
Target gets creative help from Gen Z in new apparel line
The retailer brought 10 kids aged 10 to 14 to its Minneapolis headquarters to get feedback on its new “Art Class” line of accessories and apparel.
By Daphne Howland • Jan. 12, 2017 -
Walgreens adding FedEx dropoff, pickup locations nationwide
FedEx customers will be able to drop off pre-packaged and pre-labeled shipments and pick up packages at their neighborhood Walgreens store.
By Daphne Howland • Jan. 12, 2017 -
Wal-Mart CIO reportedly stepping down next month
Karenann Terrell has held the role since February 2012, and her departure is likely part of a digital operations shake-up since its acquisition of startup Jet.
By Daphne Howland • Jan. 12, 2017 -
Deep Dive
Why The Limited's time finally ran out
The apparel retailer was once the go-to destination for stylish young Americans, and set the stage for the discovery and production innovations synonymous with today's fast fashion. What went wrong?
By Daphne Howland • Jan. 12, 2017 -
J.C. Penney poised to close more stores
Locations that fail to meet the retailer’s “brand standard” must go, but CEO Marvin Ellison stressed physical stores will continue to drive the great bulk of its sales.
By Daphne Howland • Jan. 12, 2017 -
Target accepting applications for next Techstars retail accelerator program
More than 150 mentors gave more than 500 hours of their time and expertise to selected retail tech startups during the first round of the program.
By Dan O'Shea • Jan. 11, 2017
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