Forgot Password?

Sign Up for our

NEWSLETTER

TRY OUR SERVICES TODAY!

I am a
In the
Interested in
  • INDUSTRY NEWS

    • On January 18, 2017, North Carolina-based home improvement retailer Lowe's says it's told approximately 2,400 full-time workers that they will be laid off. A statement from the store said the majority of the cuts are at the store level, with other cuts occurring at distribution centers, customer support centers and vice presidents at the company's corporate office in Mooresville. The company said it's providing severance and outplacement resources to displaced workers. Lowe's CEO Robert Niblock told employees in an email that the changes "will better align store staffing with customer demand, shift resources from back-of-the-store activities to customer-facing ones, and enhance our efficiency and productivity." Lowe's also announced Bob Hull was retiring as its chief financial officer. Marshall Croom, who has been with Lowe's for two decades, will succeed Hull as CFO March 3.
    • On January 18, 2017, it was reported, Nine West Holdings has entered into an agreement to purchase a 30-years plus women's apparel company. Nine West said it has used the net proceeds from the December 2016 sale of its Easy Spirit wholesale business to purchase the Kasper Group. The terms of the transaction were not disclosed. The Kasper Group's apparel is sold under its flagship Kasper and other well-known brand names. "We are pleased to welcome the Kasper Group to Nine West Holdings. The Kasper Group is a well-known leader in the women's sportswear market," said Ralph Schipani, interim CEO of Nine West Holdings. The Kasper Group was a part of the Jones Apparel group of companies purchased by Sycamore Partners in April 2014 as part of the take private acquisition of The Jones Group Inc. Nine West Holdings and the Kasper Group currently are separate portfolio companies of Sycamore Partners.
    • On January 17, 2017, as part of its efforts to fine-tune its supply chain and core merchandising, Tuesday Morning Corp. announced two executive promotions and the resignation of president and chief operating officer Melissa Phillips. Belinda Byrd-Rohleder has been promoted to svp, general merchandising manager, with responsibility for all merchandise purchasing. She reports to ceo Steven Becker, who will assume additional responsibilities as president. Tuesday Morning has eliminated the position of coo. Trent Taylor has been named chief information and supply chain officer, with additional responsibility for the supply chain function, a move up from his previous post as chief information officer. Tuesday Morning also noted it has appointed a new svp of supply chain who will report to Taylor. Additionally, the field organization has been consolidated to four regions from the previous five regions to improve operational efficiencies and reduce costs.
    • On January 17, 2017, Christopher & Banks Corp. announced the departure of its CEO, effective January 17, 2017, and also lowered its fourth quarter guidance after a dismal holiday season. The women's apparel retailer said LuAnn Via, president and CEO, has departed the company. Also out: board chairwoman Lisa Wardell. Via, hired as CEO in November 2012, has been replaced by Joel Waller, who was appointed as interim president, CEO and a member of the board. The retailer plans to engage a national search firm to help it find a permanent chief executive. Waller served in a similar capacity for Christopher & Banks several years ago, prior to Via's appointment. He has an extensive retail background with over 35 years of industry experience as both an executive and more recently as a consultant. He served as the CEO of The Wet Seal, from 2005 to 2008, and prior to that as CEO of Wilsons Leather. Via's departure comes on the heels of a disappointing holiday season for the retailer. On Tuesday, the company lowered its guidance for the fourth quarter, blaming lower traffic, softness in the women's apparel market and the weather. The most significant declines came in the last two full weekends before Christmas when sales fell about $4.5 million, the company said. In addition, the company announced that Kent Kleeberger has been elected as board chairman.