Some retail watchers were expecting a significant update to the retail stores as Apple enters the luxury business. But aside from some new benches displaying the watches, the stores are just as you remember them.
The company is trying to pull off a turnaround under new management appointed by the hedge fund that now controls it. But according to internal documents seen by BuzzFeed News, sales are still falling.
That’s more than the annual revenue of American Apparel or Sotheby’s, and not too far off from Crocs.
Paula Schneider told staff today that almost 2% of the company’s staff, about 180 people, will lose their jobs. Her memo noted the failings of “previous management,” which oversaw more than $300 million in losses over five years.
The retailer modified a media policy last week after it was accused of “silencing” employees, according to an internal email obtained by BuzzFeed News.
The $10.4 million spent on the investigation is high given American Apparel had only $8.3 million in cash as of Dec. 31.
Chains like Forever 21 and H&M have dramatically slashed the price of clothing in the past decade.
I definitely did not hide the rest of that memo in a drawer.
Teaser: It’s a lot. You’ve lived through a lot.
The move is a victory for women’s advocacy group UltraViolet, which had organized a petition for Target to raise its minimum pay.
Also known as, the things you thought you’d never, ever miss.
What you see isn’t always what you get.
The retailer refuses to raise its minimum wage after Wal-Mart and T.J. Maxx announced boosts this year. Now one women’s group is encouraging Target customers to shop at Wal-Mart instead.
“Nobody’s going to go buy a five-figure watch from a kid.”
BuzzFeed News exclusive: American Apparel employees have filed two complaints with the National Labor Relations Board, one alleging intimidation of workers, and another of a ban on speaking to the press. Update: A third complaint was filed late Friday.
The French beauty retailer has become one of the world’s biggest sellers of high-end makeup and fragrances. From a new innovation lab in San Francisco, it plans to conquer the digital world.
Dov Charney appealed to more than 300 current and former textile workers this past Saturday in a backyard meeting in South Central Los Angeles. The American Apparel founder was officially fired in December but refuses to walk away from the company he created in the late ’90s.
The company’s new CEO, Paula Schneider, recently responded to a series of mass emails sent to employees by an anonymous insider. The emails were critical of American Apparel’s new management and the hedge fund backing the company.
Under former CEO Mike Jeffries, Abercrombie & Fitch developed a hyper-specific look for its customers and its employees. That look has now stumbled its way into the Supreme Court.
The “off-price” channel, home of discounted designer goods, is the place to be in retail. Macy’s plans to pilot a new off-price chain as well as expand its Bloomingdale’s outlet locations.
Wal-Mart’s announcement that it will raise its minimum wage came as the retail industry faces a rising number of workers quitting their jobs. Better pay is one way retailers can keep the people they already have, rather than constantly hiring new ones.
The retailer is America’s biggest private employer. Its minimum wage will rise to $9 an hour this year, and $10 an hour in 2016.
The food industry has long known that three daily meals are out, and a procession of snacks from midday to midnight is in. And now the pet food industry is getting onboard.
In 2015, an Affordable Care Act provision requiring large employers to offer health insurance to staff working more than 30 hours a week kicked into effect. Now, some part-time staff at Staples say management has become extra vigilant about limiting their hours.
In the clothing and accessories business alone, eight big-name bankruptcies and closures have hit the retail industry the last two months, shutting more than 1,000 stores. The closed doors are symptoms of a bigger problem: America simply has too many stores.
The company has been teetering on the edge for years.
The almost 40-year-old purveyor of prom dresses filed for bankruptcy this morning.
Bloomberg News is reporting RadioShack is in talks for a bankruptcy deal that would result in closing half its stores and selling the rest to Sprint.
The chain is eliminating the role of “creative director” for the Gap brand. Incoming CEO Art Peck is coming in with a bang, after critics described Gap’s lineup as “dull and uninspiring.”
Marc Lore, who sold his company to Amazon for $500 million, is willing to make one big promise about his new site: You won’t find a lower price anywhere.