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FedEx Plans $1 Billion in Cuts as Demand Falls

Retail TouchPoints

FedEx is planning to cut an additional $1 billion in costs, citing weak demand that led to a disappointing profit for Q2 2023, which ended Nov. The reductions will add to cost-cutting measures announced in September to bring FedEx’s total fiscal savings plan for 2023 to $3.7 FedEx had expected revenue of $23.7

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Famous Footwear Parent Caleres Outlines Executive Changes

Retail TouchPoints

Caleres has revealed its executive succession plan after CEO Diane Sullivan announced her retirement, effective Jan. She joined Caleres as President in 2004 and by 2006 she became COO, before being named to the CEO and President roles in 2011. 15, 2023, with Jay Schmidt taking the reins as the top executive.

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Stylitics Raises $80M for its AI-Powered Visual Merchandising Platform

Retail TouchPoints

The new investment from PSG brings the total amount Stylitics has raised since it was founded in 2011 to $101 million. The company also plans to ramp up its R&D initiatives around AR, VR, store, voice, on-figure and other inspiration-based emerging technologies, as well as enhance its program management solutions for customers.

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Melbourne quake raises question for retailers: Are you ready for a crisis?

Inside Retail

Troy McDonagh, managing director of Betty’s Burgers & Concrete Co, says he’s grateful that the chain’s restaurant in Windsor, one of three hospitality businesses located in the building that collapsed, was empty at the time. “It’s In February 2011, a 6.2-magnitude Devastating disasters.

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In Push for a Turnaround at Kohl’s, Investor Group Nominates Nine Board Directors

Retail TouchPoints

Macellum Advisors GP , Ancora Holdings , Legion Partners Asset Management and 4010 Capital, together with their respective affiliates, are pushing the plan. in 2011 to 6.1% in 2019, and that the retailer earned about 44% less in 2019 than it did in 2011 despite similar total sales and $6.6

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Is it Time for RFID to Shine?

Retail TouchPoints

In 2021, the average cost of an RFID tag was four cents , down 80% from 2011, according to McKinsey. However, the retailer may see that stock of a particular item is low at the relevant store, and demand planning could confirm that those items are likely to sell out before being replenished if that store handles fulfillment.

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Søstrene Grene to Open Flagship Store in Central London Amid UK Expansion Plans

365 Retail

Søstrene Grene , the esteemed Danish homewares and hobby brand, has unveiled plans to open a flagship store in Central London. Founded in 1973 by the Grene family, the brand’s legacy is now carried forward by Mikkel Grene, who took over as CEO and co-owner in 2011.

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