Department Store

Job losses are piling up in the retail industry amid ongoing store closings.    The retail industry experienced 11,669 job cuts in April, the highest total among all industries, bringing the year-to-date total to 50,133, according to a report released Thursday from global outplacement consultancy Challenger, Gray & Christmas. That is up 36% from the 36,977 retail-sector job cuts announced in the first four months of 2016.   

Rent the Runway, a disruptor in traditional formal wear category, is now a leader in the paid search advertising category.  

The “Amazon effect,” or the impact of digital on traditional retailing, is forcing retailers to step up their game.   As retailers strive to incorporate new services to satisfy shoppers both in-store and online, their first priority is adding services to compete with the promise of free shipping.  

The retail environment in Canada is proving more challenging than some U.S. retailers had anticipated.     Express said it will close all 17 of its stores in Canada, and discontinue its Canadian operations through its Canadian subsidiary, Express Fashion Apparel Canada Inc. The retailer will continue to operate 635 stores in the United States.      

An executive from Avery Dennison Corp. is headed to Nordstrom.    The retailer announced that Anne Bramman is joining the company as CFO effective June 2, 2017. Bramman comes to Nordstrom from Avery Dennison, where she has served as senior VP and CFO since 2015. She previously held the CFO position at Carnival Cruise Line, and was also CFO of Henri Bendel, a subsidiary of L Brands Inc.  

Amazon’s fashion journey may have just hit a bump in the road.   Cathy Beaudoin, the online giant’s president of fashion, has left her post — a position she has held for eight years, reported Business of Fashion.  

It seems the party is over between Macy’s and Tailored Brands’ Men’s Wearhouse.  

Coach reported better-than-expected profit for its third quarter as its turnaround efforts to reduce discounts on its goods sold in the United States gain increased traction.   The upscale retailer reported net income of $130 million, with earnings per diluted share of $0.46, in the quarter ended April 1, compared to $124 million in the year-ago period. Its results exceeded Wall Street expectations.