News

L Brands’ March comps sink
L Brands’ recent exit from swimwear continues to take its toll on the company’s sales. The specialty retailer, which operates Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel, reported its net sales decreased 7% to $951.4 million for the five weeks ended April 1, 2017. This is compared to net sales of $1.027 billion for the five weeks ended April 2 , 2016.
Regional drug chain chief exec resigns
Bartel Drugs is on the hunt for a new CEO. Brian Unmacht resigned his post two weeks ago after two years on the job, senior communications manager Ric Brewer confirmed to Drug Store News. “He left Bartells two-weeks ago to pursue professional and personal goals that he has,” Brewer said. “Our Executive Team is now running day-to-day operations until the search for a new CEO begins.”

Former Hhgregg exec to head up operations for sporting goods retailer

Academy Sports + Outdoors is bolstering its executive team. The sporting good chain appointed Sam Johnson as its executive VP of retail operations, effective April 24. In his new role, Johnson will oversee the day-to-day operations of Academy's more than 225 stores, as well as lead the store support team.
Unemployment dips to 4.5%, but retail jobs continue to take a hit

The country’s unemployment rate fell to 4.5% in March, but a volatile retail landscape continues to negatively impact merchant’s payrolls. The U.S. economy added 98,000 jobs last month, versus 180,000 expected by economists surveyed by Reuters. However, the number of unemployed persons declined by 326,000 to 7.2 million.
Bids on Payless sites are being accepted until May 15

Bids are being accepted on the leases for 425 Payless ShoeSource locations through May 15, according to RCS Real Estate Advisors, which has been retained to handle the disposition. The stores range in size from 2,000 to 5,000 sq. ft. and are situated in both mall and street environments. Payless this week filed for Chapter 11 bankruptcy protection, listing liabilities between $1 billion and $10 billion. It will continue to operate its business as usual at its nearly 4,000 other locations.
Report: Fred’s could receive cash infusion to help purchase Rite Aid stores

Fred’s plan to purchase at least 865 divested Rite Aid stores may be getting a step closer to becoming a reality. More than one prominent investor has recently approached Fred’s Pharmacy with the intention of investing money in the operator of 601 locations in 16 states, according to the New York Post.
Online retail giant in big part-time worker push

Amazon continues its hiring spree. The company announced Thursday that it plans to add more than 30,000 part-time positions in the United States over the next year. The new positions are on top of the previously announced 100,000 full-time U.S. jobs Amazon will add during the next 18 months. Some 5,000 of the new part-time hires will be in Amazon’s Virtual Customer Service program, which offers employees the flexibility to work from home as a customer service agent.
Report: Walmart slashing jobs in U.S. IT division

The retail giant is reorganizing its U.S. technology division — a move that will impact about 10% of its workforce.

Sources familiar with the situation said that Walmart will eliminate 300 jobs across its information systems division (ISD). The layoffs at ISD in the chain's Bentonville headquarters began this week and are expected to continue through the month, according to Talk Business & Politics.
Bebe to close 21 locations

In a move to avoid filing Chapter 11, the fashion retailer is planning to shutter approximately 12% of its stores. The closures will incur an impairment charge of approximately $2.0 million and will make a termination payment to the landlord of approximately $7.4 million, according to a filing the chain made on April 4, with the Securities and Exchange Commission.
Ace Hardware subsidiary names new leader

Ace Wholesale Holdings has appointed a new executive to drive the company’s ongoing expansion. Mark Spanswick was named president and general manager of Ace Wholesale Holdings LLC, a subsidiary of Ace Hardware Corp.