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☆ Macy's CEO to step down. Here's what the future of the brand looks like and the strategy to engage younger consumers
▼ + stars: | 2023-03-29 | by ( Alexandra York | ) www.businessinsider.com time to read: +5 min

Macy's CEO Jeff Gennette will retire in February, the company announced on Wednesday. Tony Spring will take his place and continue shifting Macy's strategy based on consumer changes. Here's how Macy's "Polaris Strategy" is preparing the brand for the future. A shift in supply chain proceduresJeff Gennette spoke about the future of Macy's. Astrid Stawiarz/Getty ImagesThe supply chain has been a pain point for many businesses over the last three years.

☆ Macy's CEO Jeff Gennette to retire after 40 years at the department store
▼ + stars: | 2023-03-29 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +3 min

Macy's CEO Jeff Gennette will retire and step down from his role in February 2024. Gennette has been at the department store chain for 40 years. Jeff Gennette joined Macy's in 1983 as an executive trainee and worked his way up the ranks, becoming CEO in 2017. Macy's said Wednesday that Tony Spring, CEO of Macy's sister company Bloomingdale's, will take over Gennette's role. CFO Adrian Mitchell will add the role of COO to his responsibilities – overseeing stores, tech, and supply chain needs, Macy's said.

☆ Jim Cramer's top 10 things to watch in the stock market Wednesday: Stock pop, retailers, AI caution
▼ + stars: | 2023-03-29 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

UBS shuffles retailers: Ross Stores (ROST) to sell; Burlington (BURL) to sell; Club name Foot Locker (FL) to sell. Apple Pay Later allows four payments over six weeks. Users can apply for Apple Pay Later loans of between $50 and $1,000. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Retailers see a tough year ahead, so they're rolling out the recession playbook
▼ + stars: | 2023-03-16 | by ( Melissa Repko | ) www.cnbc.com time to read: +8 min

Now, major retailers are dusting off their playbook for a recession — or at least for a period of slower sales. Target shoppers can soon get a Starbucks coffee, make a return and retrieve an online purchases without leaving their cars. Some retailers are rethinking their approach to discounts while questioning other costs, such as giving away free shipping or deliveries without strings attached. Some retailers have also turned free shipping into a perk for only engaged or higher spending customers. Nike , for instance, offers free shipping for shoppers – if they share their personal data by joining its membership program.

☆ Macy's shares surge after holiday-quarter profit tops expectations
▼ + stars: | 2023-03-02 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

Macy's shares surged Thursday, as the company said it drew holiday shoppers looking for gifts and held the line on promotions. Excluding a tax benefit in the quarter, adjusted earnings per share come out to $1.71. Excluding a tax benefit, it delivered adjusted earnings per share of $1.71, higher than the $1.57 that analysts expected, according to Refinitiv. As of Wednesday's close, Macy's shares are down about 1% so far this year. Read the full Macy's earnings release.

☆ Retailers could face cost cuts and slower sales this year
▼ + stars: | 2023-02-19 | by ( Melissa Repko | ) www.cnbc.com time to read: +4 min

Other big-name retailers will follow, including big-box players like Target and Best Buy , and mall staples like Macy's and Gap . Yet healthier profit margins could be a silver lining, as freight costs fall and retailers have less excess merchandise to mark down. That could boost profit margins, even if consumers don't spend as freely. That hurt companies' margins, as unsold merchandise wound up on the clearance rack and costs crept up, along with sales. Lululemon said its profit margins would be lower than anticipated, as the athletic apparel retailer juggles excess inventory.

☆ Fanatics to start livestreamed shopping of trading cards, collectibles
▼ + stars: | 2023-02-02 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

The Washington Post | Getty ImagesFanatics is moving into livestreamed shopping around collectibles and trading cards, hiring a former Snap and Alphabet executive to launch its new business later this year. Fanatics Live, which will have a standalone app and a coinciding website, plans to launch in the second half of 2023. Only 31% of U.S. adults have even heard of live shopping, with just 22% saying they've participated in a live shopping event, according to a December poll by Morning Consult. Ebay, which said it saw trading card sales increase 142% in 2020, acquired trading card marketplace TCGPlayer for $295 million in August. While Fanatics Live could move into other forms of entertainment and collectibles over time, it will solely focus on trading cards initially.

☆ Anthony Scaramucci says he bought Sam Bankman-Fried a suit for their Middle East fundraising tour and that the trip sparked FTX's downfall
▼ + stars: | 2023-01-27 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

Sam Bankman-Fried and Anthony Scaramucci went on a Middle East fundraising tour in October. Scaramucci told Insider he bought SBF a suit so the FTX CEO wouldn't wear a T-shirt with investors. Scaramucci told Insider he bought the then-FTX CEO a suit from Bloomingdale's to help impress investors. "I bought him a suit, frankly, to take him to the Middle East with me and told him he can't dress with a T-shirt in the Middle East," Scaramucci told Insider. "So in some ways, I'm happy that we took that trip because we could still be living in a world of FTX," Scaramucci said.

☆ This startup is helping brands like Dior and Lacoste build virtual stores. Check out the 11-slide pitch deck Emperia used to raise $10 million.
▼ + stars: | 2023-01-25 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +2 min

London-based Emperia has raised $10 million in Series A funding for its virtual retail platform. A startup that has created a virtual platform for immersive retail experiences has just raised $10 million from Base10 Partners. Its virtual store SaaS platform is deployed to companies, who can use customers to better enhance the retail experience. Emperia works with brands such as luxury fashion house Dior, clothing company Lacoste, and luxury department store chain Bloomingdale's. She added that Emperia's aim is to "make virtual experiences the future of brands' long-term e-commerce strategy."

☆ Pitch Decks That Advertising Tech Startups Used to Raise Millions
▼ + stars: | 2023-01-10 | by ( Business Insider | ) www.businessinsider.com time to read: +19 min

Check out these pitch decks that they've used to sell their vision and raise millions from private equity and VC investors. Blocking ad fraudAdtech startup Lunio, announced a $15 million Series A funding round in September 2022. In May 2022, the software-as-a-service startup raised a $30 million Series B round, led by Insight Partners. Marketing in the metaverseAnima, an augmented-reality startup, raised a $3 million funding round from investors in Janury. He raised $50 million in Series D after closing a $34 million Series C last year, bringing its total raised to $100 million.

☆ Macy's warns holiday-quarter will come in light, citing squeeze on shoppers' wallets
▼ + stars: | 2023-01-06 | by ( Melissa Repko | ) www.cnbc.com time to read: +2 min

Macy's on Friday warned its holiday-quarter sales will come in on the lighter side, saying consumers' budgets are under pressure and that it anticipates that squeeze to continue into this year. It expects adjusted diluted earnings per share to be in the previously issued range of $1.47 to $1.67. For the year-ago period, Macy's reported revenue of $8.67 billion and adjusted earnings per share of $2.45. As it orders inventory, Gennette said it is using customer data to pick the merchandise that will sell and caters to customers who are looking for fashionable items and also seeking value. Gennette, Macy's Chief Financial Officer Adrian Mitchell and Chief Merchandising Officer Nata Dvir, will participate in the investor conference next week.

☆ We asked Broadway actors which audience behaviors annoy them most — here are their 8 theater-etiquette rules
▼ + stars: | 2023-01-01 | by ( Iris Dorbian | ) www.businessinsider.com time to read: +7 min

Insider asked Broadway and off-Broadway experts about their top etiquette tips for watching a show. Recently, Insider spoke to a number of Broadway and off-Broadway experts to ask about proper theater etiquette. Below are eight tips to follow the next time you're in a Broadway theater. Robin Rothstein, a playwright and former director of operations at touring-show producer Broadway Across America, told Insider: "The Broadway theaters are old and seats are small. Now that you know the eight rules of proper Broadway etiquette, buy a ticket and enjoy a show.

☆ Nike Cyber Monday deals start now: Shop the best discounted items
▼ + stars: | 2022-11-27 | by ( Bethany Heitman | Bethany Heitman Has Spent Over Fifteen Years Creating Engaging Content. She Is The Former Editor-In-Chief Of People Stylewatch | Has Held Senior Leadership Positions At Cosmopolitan | ) www.nbcnews.com time to read: +7 min

Black Friday may have passed, but Cyber Monday deals are in full swing. The Nike website is offering up to 60% off certain items, with an additional 25% off select styles when you use the code CYBER. From sneakers to leggings and beyond, Nike has a ton of highly rated items that are worth your consideration. Best Nike early Cyber Monday deals to shopTo recommend the best Cyber Monday deals from Nike, we looked for the types of products that Select readers have searched for in the past. Inspired by the popular Air Max models from the ‘80s, these women’s sneakers from Nike are intended for casual activities, such as strolling or lounging.

☆ From wine to fishing tackle, retailers pray Advent calendars draw in shoppers
▼ + stars: | 2022-11-25 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +4 min

Dior is selling a $3,500 Advent calendar inside a wooden and cotton canvas box fashioned like its Paris boutique on Avenue Montaigne. For toddlers, Walmart sells the Baby Shark Advent Calendar, priced at $44.99. And for anglers, there's a $34.99 fishing tackle Advent calendar with life-like and color-changing soft baits at The Fishing Shop. Selfridges & Co has 128 Advent calendars priced from 4.99 to 623 pounds this season, more than double last year's offerings. The ALDI Holiday Magic Wine Advent Calendar includes 24 unique labels and 16 wine varieties from eight countries of origin for $59.99.

☆ Macy's raises earnings forecast after seeing strong luxury sales, bringing in fresh holiday inventory
▼ + stars: | 2022-11-17 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

Macy's on Thursday raised its earnings forecast for the year after its third-quarter results topped Wall Street expectations. The company stood by its revenue guidance for the year as it faces a tougher sale backdrop this holiday season. But Macy's said the figure was up when compared to the the third quarter of 2019, before the pandemic. It raised its annual adjusted earnings per share forecast to $4.07 to $4.27 per share, up from its previous range of $4 to $4.20. Target slashed its forecast for the holiday quarter, saying weaker sales have continued into November.

☆ Meet Donald Trump's children with Ivana Trump, Marla Maples, and Melania Trump
▼ + stars: | 2022-11-09 | by ( Business Insider | Lloyd Lee | ) www.businessinsider.com time to read: +12 min

Donald Trump has five children between two of his former wives and his current wife Melania Trump. Donald Trump Jr., Eric Trump, and Ivanka Trump are children with his first wife, Ivana Trump, who died on July 14. Getty Images/Joe CorriganNow a father of five, Donald Trump Jr. was 12 when Ivana Trump and Donald Trump Sr. divorced. In 2001, a year after he graduated from college, Donald Trump Jr. went to work for his dad for the second time. He told New York magazine that Donald Trump Jr. is like his mentor and Ivanka Trump is like his second mother.

☆ Here are some notable salary ranges from several of New York City's biggest employers, as a new pay transparency law peels back the curtain on workers' pay
▼ + stars: | 2022-11-02 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

As of Tuesday, most New York City employers have to include salary ranges upfront in job posts. The new salary transparency law peels back the curtain on six-figure salaries at some of the city's biggest employers. Have you noticed big pay discrepancies between job postings at your company and your salary? Some had not yet listed salary ranges on multiple New York City job posts as of this writing, including Meta and Google. Citi, for example, initially listed a salary range of $0 to $2 million for a client service officer, as Motherboard first reported.

Insider asked 12 top VCs what ad and marketing tech companies excited them the most this year. Check out the 19 most promising adtech startups, and what they do that makes them unique. It hopes to raise a Series A funding round in the coming months. Emperia is currently raising its next funding round. Why it's on the list: Tech companies are being scrutinized for their wasting energy consumption, and the digital advertising industry is no exception.

☆ Macy's to hire more than 41,000 workers for holiday shopping season
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterShoppers are seen outside Macy's in the Manhattan borough of New York City, New York, U.S., March 30, 2021. Sept 26 (Reuters) - Macy's Inc (M.N) said on Monday it plans to hire more than 41,000 full-time and part-time workers ahead of the upcoming holiday shopping season. Last year, Macy's had planned to hire 76,000 full- and part-time workers for the holiday season, with about 48,000 of the roles specifically for the holiday season and the rest of the roles were permanent positions beyond the holidays. Earlier this month, Macy's Chief Financial Officer Adrian Mitchell said the company expects holiday shopping to start early this year. Last week, Target Corp (TGT.N) said it plans to hire up to 100,000 seasonal workers for the holiday season, while rival Walmart Inc (WMT.N) announced plans to add 40,000 workers in seasonal and full-time roles.

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