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Ex-Cash Converters stores operator fined for underpaying staff

Inside Retail

The company employed the worker at the Yarraville store between July 2015 and April 2018 and at the Taylors Lakes store between May 2018 and March 2020, according to the Fair Work Ombudsman. The post Ex-Cash Converters stores operator fined for underpaying staff appeared first on Inside Retail Australia.

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Black Friday 2020 In-Store Traffic: An Expected Result in an Unexpected Season

Retail TouchPoints

Black Friday Weekend vs. Spring 2020. The worst of the pandemic — the very bottom of the retail traffic journey — occurred the week of April 12, 2020, when year-over-year traffic was down 83%. That means seven out of the nine days were within range of the pre-Black Friday 2020 trend. Is the in-store season doomed this year?

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J.Crew To Exit Bankruptcy With More Than 300 Stores

Retail TouchPoints

The plan provides $400 million in exit financing and $400 million in new term loans. J.Crew Group has reached agreements with its landlords to improve lease terms for its stores, anticipating savings of approximately $70 million in 2020 and approximately $60 million in 2021. billion of the company’s secured debt into equity.

Finance 338
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Hit Hard by the Pandemic, Most Minority Business Owners Optimistic About the Future

Retail TouchPoints

In May 2020, McKinsey issued a report stating while the COVID-19 pandemic was shaking up small businesses across the board, it was disproportionately affecting minority-owned small businesses. Between March 2019 and June 2020, adoption of touchless payments , which includes contactless cards, mobile wallets and QR codes, increased 150%.

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Tuesday Morning Receives $32 Million Lifeline from Retail Ecommerce Ventures and Ayon Capital

Retail TouchPoints

The funding, along with $3 million in convertible debt financing from certain Tuesday Morning leaders including CEO Fred Hand, will help the troubled retailer implement an omnichannel turnaround plan. Tuesday Morning was reportedly on the brink of going bankrupt for the second time since 2020, according to The Dallas Morning News.

Finance 243
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David’s Bridal Shakes up Leadership Team with New COO and CFO

Retail TouchPoints

Viall will retain ownership of merchandising and product development functions and assume responsibility for the supply chain; and Kelly Cook, who joined David’s Bridal in 2019 as EVP, Chief Marketing and IT Officer, has been promoted to President of Brand, Technology and Finance.

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PacSun Names Co-CEOs and New President

Retail TouchPoints

Relich has been in the Interim CEO position since August 2020, having previously served as PSEB’s COO. Like Chang, Olson joined PacSun in 2006 and held multiple senior positions before being named Chief Brand Officer in July 2020. As Co-CEOs, Chang and Relich will have distinct oversight of key business functions.