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“Activist investor urges Kohl’s to be more transparent about sales process” Activist investment firm Macellum Advisors GP LLC on Monday urged Kohl’s to be more open about its sales process, urging the retailer to give bidders and shareholders a fuller financial picture of itself. The firm, in a letter to Kohl’s board, asked the company…
“Michael Kors CEO Joshua Schulman steps down in surprise shakeup” Michael Kors’ chief executive is leaving the company just seven months after taking the reins of the luxury brand — and despite the fact he was on track for a big promotion. Joshua Schulman is stepping down despite having been poised to take the helm…
“#Supermarkets face empty shelves from labor shortages, shipping costs” A combination of labor shortages, shipping costs and cold weather has left grocery store shelves across the country empty, according to reports. Produce growers on the West Coast are paying nearly triple trucking rates, according to Reuters. On the East Coast, snow and ice storms have…
“#NYC police union roasts Express for wanting to drop thief’s case” A police union wrote a scathing letter to a major clothing chain after it told a manager to drop a case against a serial thief who allegedly injured an NYPD officer in Times Square, calling the move “counter-productive to the safety of your establishment,…
“#Crocs to buy footwear brand Heydude for $5B” Crocs said on Thursday it would buy privately owned footwear label Heydude for $2.5 billion, as the rubber clogs maker looks to cash in on the pandemic-led surge in demand for casual shoes. Consumers stuck at home during the lockdowns last year ditched dress shoes for more comfortable…
“#Neiman Marcus mulls splitting into 3 separate businesses” Neiman Marcus is exploring a possible corporate rejiggering that would split the luxury chain into three different businesses, separating its website from its stores and spinning off Bergdorf Goodman, The Post has learned. Neiman’s plans — which appear to mimic a closely watched strategy disclosed this spring…
“#Boring midtown Manhattan gets a cool indie makeover” If you’re dreading the holiday trudge through touristy midtown this season, you’re in for a surprise: Rockefeller Center is rockin’! Tucked behind the Art Deco façade of 30 Rockefeller Plaza, in a space stuffed with some 10,000 vinyl records, there now lives a rock lover’s paradise. Rough…
“#62.8M shoppers expected on Cyber Monday to cap holiday weekend” Some 62.8 million shoppers are expected to take advantage of deals on Cyber Monday to cap off a holiday weekend that failed to see brick-and-mortar traffic reach pre-pandemic levels, according to projections. The National Retail Federation expected a total of 158.3 million people to hit…
“#Spike in smash-and-grab attacks means bad news for shoppers” Black Friday is famous for its Christmas sales and packed stores, but if the surge in retail theft — brazen attacks by flash mobs — continues, there soon might be no stores left to pack. Places like Los Angeles, the San Francisco Bay Area and Chicago…
“#Major retailers slammed by increasingly violent shoplifters” Shoplifters are dogging a slew of major retailers this holiday season — and they’re becoming increasingly organized and violent. As big chains including Best Buy, Nordstrom and Kroger grapple with bare shelves, staffing shortages and inflation, they say rampant theft has become a major problem that is not…