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☆ Starbucks' new CEO plans to spend time working at his company's coffee shops. Here's why every retail leader should take a shift on the sales floor.
  + stars: | 2023-04-03 | by ( Avery Hartmans | ) www.businessinsider.com   time to read: +7 min
Former Walmart CEO Greg Foran used to visit stores every week to observe factors like customer service, inventory levels, in-stock levels, and assortment. Fewer retail CEOs got their start working in storesLowe's CEO Marvin Ellison started his retail career as a Target security guard. David Swanson/ReutersOf course, times have changed — in the past, many retail CEOs got their start at the store level. As department stores started facing stiff competition from specialty stores, they scrambled to cut costs. These days, finding a qualified retail CEO seems like one of the hardest jobs to fill, with many companies looking outside the retail industry.
☆ Macy's will have a new CEO. He's from Bloomingdale's
  + stars: | 2023-03-29 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +3 min
Macy’s (M) CEO Jeff Gennette will retire in 2024, the company announced Wednesday. Gennette, 61, has been Macy’s CEO for seven years. He led the 165-year-old department store chain through the rise of Amazon (AMZN), the Covid-19 pandemic, and industry upheaval. Under Gennette, Macy’s most notably built out its online platform and shifted away from malls. “Thanks to Mr. Gennette, Macy’s isn’t dead or even circling the drain,” GlobalData Retail analyst Neil Saunders said in a note to clients Wednesday.
☆ Macy’s will have a new CEO. He’s from Bloomingdale’s
  + stars: | 2023-03-29 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +1 min
Macy’s (M) CEO Jeff Gennette will retire in 2024, the company announced Wednesday. Gennette, 61, has been Macy’s CEO for seven years. He led the 165-year-old department store chain through the rise of Amazon (AMZN), the Covid-19 pandemic, and industry upheaval. Under Gennette, Macy’s most notably built out its online platform and shifted away from malls. But Macy’s has outperformed Kohl’s (KSS), Nordstrom (JWN) and other department store peers in recent years, while Sears, JCPenney and Neiman Marcus have filed for bankruptcy.
☆ Foot Locker is closing 400 stores. They may become an eyesore
  + stars: | 2023-03-29 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +6 min
Foot Locker will close 400 stores by 2026 in malls. Anchor vacancies in malls hurt neighbors like Foot Locker and reduce traffic to their stores as well. Eventually, stores like Foot Locker go dark and it becomes harder for the mall to survive. Finding tenants for the 400 Foot Locker spaces will be challenging as big retailers look to stay away from weaker malls. Bed Bath & Beyond will be “much easier to fill than in-mall spaces.”So what happens to all the indoor malls with empty Foot Locker stores and other vacant spaces?
☆ Los Angeles education strike cancels school for 420,000 students
  + stars: | 2023-03-21 | by ( Alan Devall | ) www.reuters.com   time to read: +3 min
[1/9] Los Angeles school workers protest in front of LAUSD headquarters during the first day of a walkout over contract negotiations that closes the country’s second largest school system in Los Angeles, California, U.S., March 21, 2023. REUTERS/Aude GuerrucciLOS ANGELES, March 21 (Reuters) - Some 30,000 education workers backed by the teachers' union walked off the job for a three-day strike in Los Angeles on Tuesday, canceling school for nearly half a million students in the second-largest school district in the United States. Thousands of protesters gathered for a rally outside the Los Angeles Unified School District headquarters, vowing to continue their pickets for another two days under the banner, "United for L.A. The service workers are backed by the 35,000 members of the teachers' union United Teachers Los Angeles, which refused to cross their picket line. Dozens of meal and safe-place sites were opened across the city on Tuesday, with school district employees and volunteers distributing more than 124,000 meals, the district said.
☆ Bed Bath & Beyond is closing hundreds of stores. But they won’t be empty for long
  + stars: | 2023-03-21 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +5 min
New York CNN —Bed Bath & Beyond is stripping down its big blue signs, clearing out aisles of linens and closing 400 stores as it tries to stave off bankruptcy. Bed Bath & Beyond (BBBY)’s real estate is a precious, scarce resource for retailers, gyms and anyone else who needs ample space. “A lot of great real estate is going to come available into a market where there’s been no vacancies. “Bed Bath and Beyond sites are interesting to us, and we are exploring available opportunities with our franchisees,” a spokesperson told CNN. He also believes Bed Bath & Beyond may not be able to avoid bankruptcy or liquidation, which would lead to more vacancies.
☆ DeSantis' approach to a possible 6-week abortion ban in Florida could torpedo his shot at the presidency
  + stars: | 2023-03-07 | by ( Kimberly Leonard | ) www.businessinsider.com   time to read: +9 min
GOP lawmakers in Florida have introduced a six-week abortion ban. But the ramifications of a six-week ban in Florida would go beyond politics. As the session kicked off in Tallahassee on Tuesday, the path to a six-week abortion ban in Florida appeared more clear than it did a few months ago. In a press conference with reporters, she acknowledged the math was difficult but vowed the party would fight, arguing that a six-week ban was broadly unpopular among Floridians. Senate Minority Leader Lauren Book, a Democrat of Plantation, Florida, accused Republicans of going "scorched earth" with their abortion ban bill.
☆ Retail CEO crisis: With recent shakeups at Kohl's, Adidas, Dollar General, and more, the industry's top job is suddenly the hardest to fill
  + stars: | 2023-02-11 | by ( Matthew Kish | Avery Hartmans | ) www.businessinsider.com   time to read: +8 min
It's the surest sign yet of a crisis facing the retail industry. Supply chains got snarled, shoppers stopped visiting stores, and stimulus payments spiked demand, each making it difficult to measure how business was doing. Then stimulus payments sent demand for everything from sneakers to home goods spiking while supply chains snarled. And just when supply chains started to sort themselves out, inflation hit, and shoppers started to scale back spending. Retail CEOs need 'peripheral vision'Workers at Starbucks stores and Amazon warehouses across the country have pushed to unionize, with many calling out the pay disparity between front-line workers and top executives.
☆ Disney's strategy to win its battle with DeSantis is to just wait until he runs for president, says a top Florida Democrat
  + stars: | 2023-02-06 | by ( Kimberly Leonard | ) www.businessinsider.com   time to read: +7 min
Disney will sue Florida for dissolving its self-governing status, predicted Democratic state Sen. Jason Pizzo. Florida lawmakers are deciding Disney's financial fate this week. Ron DeSantis will be to simply run out the clock, a top Florida Democrat predicted Monday. Other areas state lawmakers will consider would allow Florida to transport migrants from other states and to give the state more power to prosecute election fraud. Today, more than 40 lobbyists represent Disney before the Florida legislature, according to an Insider review of lobbying disclosures.
☆ Retail CEO crisis: why the industry's top job is suddenly the hardest to fill
  + stars: | 2023-01-23 | by ( Matthew Kish | Avery Hartmans | ) www.businessinsider.com   time to read: +8 min
It's the surest sign yet of a crisis facing the retail industry. Supply chains got snarled, shoppers stopped visiting stores, and stimulus payments spiked demand, each making it difficult to measure how business was doing. Then stimulus payments sent demand for everything from sneakers to home goods spiking while supply chains snarled. And just when supply chains started to sort themselves out, inflation hit, and shoppers started to scale back spending. Retail CEOs need 'peripheral vision'Workers at Starbucks stores and Amazon warehouses across the country have pushed to unionize, with many calling out the pay disparity between front-line workers and top executives.
☆ Amid 'quiet hiring,' here’s what highly successful workplaces should focus on
  + stars: | 2023-01-13 | by ( Natasha Piñon | ) www.cnbc.com   time to read: +2 min
In 2023, "quiet hiring" — when a company redistributes staffers or recruits short-term contractors instead of hiring full-time employees — could dominate the workplace. How quality workplaces improve retentionThriving companies conduct regular surveys and host check-ins to track employee engagement, Labbe says. Quiet hiring itself can also help with employee retention. Emily Rose McRae, a Gartner HR analyst who helped coin the term "quiet hiring," told CNBC Make It last week. At Toptal, during periods the recruiting team wasn't busy, some team members moved over to the sales team, Labbe says.
☆ Democratic win in Virginia special election stymies Gov. Youngkin's push for 15-week abortion ban
  + stars: | 2023-01-12 | by ( Zoë Richards | Zoë Richards Is The Evening Politics Reporter For Nbc News. | ) www.nbcnews.com   time to read: +3 min
Democrat Aaron Rouse has won a special election for a state Senate seat in Virginia after his Republican opponent conceded in a race that was widely viewed as a proxy fight over abortion. Democrats will have a 22-18 majority in the state Senate, and Rouse is expected to provide a crucial vote against efforts by Gov. “Reproductive rights and freedom in Virginia have been hanging by a tenuous thread, especially in the wake of Roe being overturned, and the only thing standing in the way is a one-vote margin in the Virginia state Senate," Tarina Keene, the executive director of REPRO Rising Virginia, said Wednesday. During the campaign, Rouse said protecting access to abortion was a priority, vowing on his website that he would “not compromise” on abortion rights. In his State of the Commonwealth address Wednesday, Youngkin called on the General Assembly to pass a 15-week ban.
☆ Factbox: The 10 biggest U.S. retail bankruptcies in 5 years
  + stars: | 2023-01-09 | by ( ) www.reuters.com   time to read: +4 min
J.C. PenneyAssets: $7.99 billionLiabilities: $7.16 billionStores: 846After more than a century in business, the department store chain filed for bankruptcy protection in May 2020, weighed down by mounting debt. At the time, its bankruptcy was the biggest collapse of a U.S. retailer by assets since Kmart in 2002. It soon emerged from bankruptcy with much of its store base intact and $400 million in fresh financial aid. Tailored BrandsAssets: $2.48 billionLiabilities: $2.84 billionStores: Over 1,400The owner of tuxedo and business suit chain Men's Wearhouse filed for bankruptcy in August 2020. It emerged from bankruptcy just days short of a year since it filed for bankruptcy under a new name, Premier Brands.
☆ What's ahead for Bed Bath & Beyond in wake of bankruptcy warning
  + stars: | 2023-01-09 | by ( Melissa Repko Gabrielle Fonrouge | Melissa Repko | Gabrielle Fonrouge | ) www.cnbc.com   time to read: +5 min
In this article BBBY Follow your favorite stocks CREATE FREE ACCOUNTA pedestrian walks by a Bed Bath and Beyond store in San Francisco, California. Justin Sullivan | Getty ImagesWhen Bed Bath & Beyond leaders speak to investors Tuesday morning, they won't simply report sales and earnings results. On Thursday, Bed Bath warned it may have to file for bankruptcy, saying it could soon be unable to cover costs as sales lag and store traffic dwindles. If Bed Bath has made significant inroads in improving inventory, it could offer a glimmer of hope for the quarters ahead. Before Bed Bath can address moving product off shelves, though, it needs to tackle an even more fundamental problem: having enough merchandise to fill them.
☆ Chili's CEO bought grills that can cook a medium steak in under 3 minutes — and says they could shave more than $5 million in losses from unhappy customers
  + stars: | 2023-01-09 | by ( Nancy Luna | ) www.businessinsider.com   time to read: +2 min
Over the summer, Chili's was testing drone delivery and dining-room robots to improve operations. But, under new CEO Kevin Hochman, Brinker-owned Chili's ditched robots in favor of kitchen automation. "The robotics were slower than what our servers can do," Hochman told Insider. "The robotics were slower than what our servers can do," Hochman told Insider. That alone is likely to save the company millions of dollars from having to comp steaks sent back by unhappy customers.
☆ The rise and fall of Sears. Once the world's largest retailer, it now has just 15 stores left. Here's how changing consumer habits took down a one-time powerhouse.
  + stars: | 2022-12-19 | by ( Erin Mcdowell | Avery Hartmans | ) www.businessinsider.com   time to read: 1 min
Richard W. Sears founded the R.W. Sears Watch Company in 1886 in Minneapolis, Minnesota. Portrait of businessman Richard W. Sears. Sears sold his watch business in 1889. In 1893, he founded another mail-order service with Roebuck, which the two named Sears, Roebuck and Company.
☆ Michael Jordan: The NBA has renamed its MVP trophy after the Bulls great
  + stars: | 2022-12-13 | by ( Amy Woodyatt | ) edition.cnn.com   time to read: +15 min
Andrew D. Bernstein/NBAE/Getty Images Jordan poses for a Little League Baseball photo in the late 1970s. Ken Levine/Getty Images Jordan famously shrugs his shoulders after hitting another 3-pointer during the 1992 NBA Finals versus Portland. "There is a reason you call someone the Michael Jordan of ... neurosurgery, or the Michael Jordan of rabbis, or the Michael Jordan of outrigger canoeing. Chip Somodevilla/Getty Images Jordan continues to promote Nike's Jordan Brand across the world. Jordan Brand/Getty Images Jordan cries at the Kobe Bryant memorial in Los Angeles in February 2020.
☆ I tried to cut a deal with Jeff Bezos to save my hometown's paper mill and failed. Here's what I learned from it.
  + stars: | 2022-12-06 | by ( Justin Vandehey | ) www.businessinsider.com   time to read: +8 min
Justin Vandehey wanted to save the paper mill in his hometown of Wisconsin Rapids. He presented a proposal to Jeff Bezos on how the paper industry could reinvent itself. Is the paper industry really dead? It takes paper to make paperThe two machines in the Wisconsin Rapids mill are currently set up to produce 570,000 tons of coated paper each year. The CEO of BillerudKorsnäs, Christoph Michalski, hasn't committed to any plans regarding the Wisconsin Rapids Mill; however, it does appear that there's interest from the local Timber Professionals Cooperative to acquire and keep the Wisconsin Rapids Mill operating in Wisconsin Rapids.
☆ Top 25 roundup: 17-0 surge carries Rutgers past No. 10 Indiana
  + stars: | 2022-12-04 | by ( ) www.reuters.com   time to read: +6 min
Aundre Hyatt chipped in 11 for Rutgers, which survived shooting 36.7 percent and a quiet showing from Clifford Omoruyi. Miller Kopp scored 21 points for Indiana (7-1, 0-1) but the rest of the Hoosiers experienced frustrating showings against Rutgers' varied defenses. Logan Johnson recorded 17 points, six rebounds and five assists for Saint Mary's (6-3), which lost its third straight game. Matthew Cleveland added 11 points and a game-high 10 rebounds, with Jalen Warley and Caleb Mills each scoring seven points. Alex Arians finished with (17 points, six rebounds), followed by William Kyle III (eight points, six rebounds, five assists) and Zeke Mayo (12 points, seven rebounds).
☆ A 1930s eugenics experiment is the reason women's clothing sizes are so damn frustrating
  + stars: | 2022-11-30 | by ( Isabella Zavarise | ) www.businessinsider.com   time to read: +7 min
A 1930s eugenics experiment is the reason women's clothing sizes are inconsistent, as per Radke. In an email to Insider, Radke said the discovery about women's clothing sizes was one of the biggest surprises to her when researching "Butts, a Backstory." Andrew SemansThe life-sized plaster casts made by Dickinson and Belskie were dubbed Normman and Norma and helped create standardized clothing sizes. During the 1950s, standardized clothing sizes were adopted by clothing brands. "It's just too expensive for garment manufacturers to make enough clothing sizes to accommodate the wide variation of human bodies.
☆ Cyber Monday 2022 deals that make great gifts — lowest price ever
  + stars: | 2022-11-29 | by ( Select Staff | Select Staff On Nbc News | ) www.nbcnews.com   time to read: +5 min
To help you make the most of the shopping holiday, we compiled some of the best Cyber Mondaydeals and sales that make great gifts that we think you’ll want to know about. Best Cyber Monday 2022 giftable dealsBelow, we’re sharing the best Cyber Monday giftable deals based on our previous coverage and reporting. Lowest price ever4.8-star average rating from 147,616 reviews on AmazonTo keep your drinks cool and hot, the 20-ounce Rambler from Yeti is the way to go. Lowest price ever4.8-star average rating from 252 reviews on AmazonThe Dutch oven from Le Creuset is one of the best models available. Lowest price ever4.4-star average rating from 19,324 reviews on AmazonThis Fitbit, compatible with both iPhones and Android devices, tracks your heart rate, sleep quality, health metrics and more.
☆ Is this the last Christmas for Sears?
  + stars: | 2022-11-29 | by ( Chris Isidore | ) edition.cnn.com   time to read: +13 min
Easterling was at the Sears in her hometown of Jersey City, New Jersey, one of only 15 full-line Sears stores still open. The two started a catalog business selling watches and jewelry in 1888, incorporating under the Sears Roebuck name in 1893. The Sears catalog was the way many Americans first started to buy mass-produced goods. File photo/AP People shop inside a Sears store in Morton Grove, Illinois, in 1961. AP Soldiers guard a Sears store in Baltimore after riots broke out following the assassination of Martin Luther King Jr. in 1968.
☆ Boeing Replaces Space Chief as Defense Unit Looks to Stem Losses
  + stars: | 2022-11-17 | by ( Doug Cameron | ) www.wsj.com   time to read: 1 min
Boeing Co. said on Thursday that it was replacing the head of its space business as part of a broader restructuring aimed at reversing losses at its defense unit. Kay Sears will take over a new space, intelligence and weapons-systems operation as part of defense chief Ted Colbert ‘s consolidation of the military business into four units, from eight at present, with immediate effect. Jim Chilton will continue to run the space and launch business until February.
☆ Chase Freedom Unlimited vs Citi Double Cash: How to decide which no-annual-fee cash back credit card is best for you
  + stars: | 2022-11-15 | by ( Tessa Campbell | Personal Finance Reviews Fellow | Read More | ) www.businessinsider.com   time to read: +20 min
If you're looking for a no-annual-fee cash-back credit card, the Chase Freedom Unlimited® and Citi® Double Cash Card are worth considering. Compare the Citi Double Cash and Chase Freedom Unlimited Citi® Double Cash CardChase Freedom Unlimited® Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Here's how the Chase Freedom Unlimited® and the Citi® Double Cash Card stack up. The Chase Freedom Unlimited® earns:5% cash back (5x points) on travel purchased through Chase Ultimate Rewards3% cash back (3x points) on dining, restaurant, and drugstore purchases1.5% cash back (1.5x points) on all other purchasesWinner: Chase Freedom Unlimited®Redeeming rewardsThe Chase Freedom Unlimited® issues rewards as Chase Ultimate Rewards points. However, Chase Freedom Unlimited® has slightly higher reward opportunities and better benefits, and it has a welcome bonus offer.
☆ Top Republicans are slamming Trump and plotting to get rid of him after the GOP's disappointing midterm results
  + stars: | 2022-11-14 | by ( Tom Porter | ) www.businessinsider.com   time to read: +6 min
Some Republicans have turned against Donald Trump after the midterm elections. They blame Trump and his candidates for the GOP's poor results last Tuesday. But in the wake on the party's disappointing showing in the midterm elections last Tuesday, his reputation as a political winner is badly damaged. An increasing number of party figures, The Post reported, were actively working to oppose Trump by directing their donations elsewhere. Some Republicans believe that Tuesday's results indicate that an even more crushing defeat could be in store for the GOP in 2024 if Trump is selected as the GOP's candidate.
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