Shortly after Macy’s warned investors Thursday (May 21) of a probable $1 billion first-quarter operating loss, Jeff Gennette, the iconic store’s chief executive officer, spoke with J.P. Morgan Analyst Matt Boss about the future of retail. Gennette said a tidal wave of bankruptcies stemming from the...
In order to “realign its operational focus to support its business-to-business solutions and IT services business units and improve costs,” Office Depot is planning to restructure, according to a U.S. Securities and Exchange Commission (SEC) filing. The plans are expected to be completed by the...
The retail reopenings underway hit a few roadblocks on Wednesday (May 6), as Nordstrom’s, L Brands and Lord & Taylor all checked in with bad news. All three companies had reported liquidity problems since the pandemic crisis started, but the convergence of the three events...
Long before the coronavirus struck, brick-and-mortar stores faced extinction by a combination of eCommerce and bankruptcies. More than 9,300 brick-and-mortar stores closed last year in the U.S., shattering the previous record of 6,900 closures in 2017, according to Coresight Research. Now, a study reveals COVID-19...
September 28, 2022
Amazon has been encouraging customer service employees to work from home to help save money on real estate, Bloomberg wrote. The shift is part of a larger plan to close some call centers around the country — including one in Kennewick, Washington that has operated since 2005, per data from unnamed sources speaking with Bloomberg. […]
May 21, 2020
Shortly after Macy’s warned investors Thursday (May 21) of a probable $1 billion first-quarter operating loss, Jeff Gennette, the iconic store’s chief executive officer, spoke with J.P. Morgan Analyst Matt...
April 29, 2020
Long before the coronavirus struck, brick-and-mortar stores faced extinction by a combination of eCommerce and bankruptcies. More than 9,300 brick-and-mortar stores closed last year in the U.S., shattering the previous...
December 23, 2019
Financial institutions have been abandoning American smaller towns in striking numbers over the past decade, presenting a significant economic challenge in the communities they serve, according to a report from...
