Sales at U.S. retailers unexpectedly fell in July, raising the risk that a lack of consumer spending will temper a recovery from the worst recession since the 1930s.
Source: Bloomberg
The Munich-based company, once one of the world’s biggest fashion brands, german fashion company Escada AG said it will probably file for bankruptcy protection Thursday. Escada operates 182 of its own shops and 225 franchise shops in more than 60 countries, employing about 2,300 people.
Source: Forbes, AP
Barnes & Noble announced in January that it was cutting nearly 100 positions in its corporate headquarters in attempt to control costs to cope with weaker sales amid the recession.
Source: CNBC, AP
~News submitted by upthecreek
Lawn and garden products maker Scotts Miracle-Gro Co. said Wednesday it will close its Novato, Calif.-based Smith & Hawken business by the end of the year.
Source: CNBC, AP
~News submitted by upthecreek
Wal-Mart Stores Inc (WMT.N) says it will add more than 22,000 jobs in its U.S. namesake stores in 2009.
Source: Reuters
Jones Apparel Group Inc. said it will shutter about 225 locations in 2009 and 2010, representing a fifth of its own stores, and cut as many as 1,000 jobs to reduce costs as the recession slows apparel and shoe sales.
Source: Bloomberg
Apple (AAPL) is cutting costs as its retail division underperforms the rest of its business: In a SEC filing (via CNET), the company reported that it now employs 14,000 full-time-equivalent retail workers, down 1,600 from the end of 2008. That’s a roughly 10% cut.
Apple’s overall sales increased 9% year-over-year to $8.16 billion in the March quarter.
Source: Silicon Alley Insider
Wal-Mart Inc’s plan to eliminate jobs at its China unit has met with resistance from the up to 1,400 workers involved, the U.S. retailer said on Tuesday.
The company, which has 147 outlets in China and employs over 50,000, is removing a layer of management in its stores, leaving affected employees the option of taking a lower position with lower pay, said a company spokesman.
Wal-Mart is offering the employees the option of moving to a new store but for some people it is difficult to move. It is unknown how many people had accepted the company’s offer but a company spokesman said that negotiations had been going on for several months to find a solution.
Source: Reuters
A woman has filed a federal class-action lawsuit against Pamida Stores Operating Co., saying the regional retailer didn’t properly notify her and other co-workers before laying them off.
Source: AP, CNBC
~News submitted by upthecreek
After failing to attract a buyer, Gottschalks is headed for liquidation. Gottschalks operates 58 department stores in six western states and has around 5,200 employees.
Source: CBS47
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According to AP, BusinessWeek: “Wal-Mart Stores Inc. announced Friday that it will shutter an optical lab in Ohio, cutting 650 jobs, as it looks to cut costs by fold its operations into facilities in Indiana and Arkansas.
The world’s largest retailer said in a statement that eyewear orders previously sent to the facility in Lockbourne, Ohio, will be dispersed to labs in Crawfordsville, Ind., Fayetteville, Ark., and Dallas.”
Over the next two months, the online retailer, Amazon.com, will close 3 distribution centers: in Red Rock, Nev.; Munster, Ind.; and Chambersburg, Pa. The 210 employees in those three facilities were informed Wednesday. They will get severance packages and an opportunity to transfer to other Amazon shipping locations.
Source: The NY Times
AmericasMart, the 7.7-million-square-foot retail and gift complex in downtown Atlanta, has laid off just under 10 percent of its staff of about 250.
Developed by Atlanta architect John Portman in 1962, the giant mart competes with facilities nationwide to host shows for apparel makers, brokers and retailers of home accessories, garden gear and gifts.
Source: Atlanta Journal-Constitution
According to Reuters, CNBC: “Wal-Mart Stores Inc, Canada to close six Ontario Sam’s club locations to focus on supercentre expansion. Canada says decision will affect co’s 6 Sam’s club locations in Pickering, Vaughan, Richmondhill, London, Cambridge and Etobicoke. Canada says is in discussions with a major US retailer to purchase its interest in 5 of the Ontario Sam’s club locations”
~News submitted by upthecreek
According to AP, Forbes: “Best Buy Co. Inc. said Thursday that 250 workers at its corporate headquarters in suburban Minneapolis would lose their current jobs as the electronics chain pares its work force, though most might get new positions with the company.
The company hoped the displaced employees would fill 210 new jobs being posted by the retailer, for a net loss of 40 jobs.”
According to Reuters: “Wal-Mart Stores Inc (WMT.N) is cutting 700 to 800 jobs at its Wal-Mart and Sam’s Club home offices as the world’s largest retailer looks to realign its corporate structure and reduce costs.
The discount retailer, which has roughly 14,000 employees at its home office in Bentonville, Arkansas, is eliminating jobs in merchandising, real estate and marketing in its Wal-Mart U.S. division, while cutting merchandising positions at its Sam’s Club warehouse division.”
Pier 1 Imports plans to cut about 10 percent of the full time jobs at its Fort Worth, TX headquarters, distribution centers and field administration offices.
The company, which sells home furnishings and gifts, also plans to close a distribution center in Illinois, and it may close up to 125 “underperforming” stores. Pier 1 says it is negotiating with landlords to reduce rental expenses; “early termination” may be necessary if those discussions are unsuccessful.
Source: WFAA TV
Retailer Liz Claiborne announced Tuesday that it will eliminate 725 positions as part of a company-wide cost-cutting measure. That number makes up 8-percent of Claiborne’s US workforce, and affects all levels of the company. The cuts are expected to be completed by the end of the first quarter of 2009.
The layoffs come on top of the company’s previously announced closing of its distribution center in Mount Pocono, Pennsylvania and the suspension of merit pay increases for all employees.
Source: WCPO9
According to Reuters, CNBC: “Struggling book seller Borders Group Inc said on Tuesday it was consolidating its corporate management structure at the vice president and director levels, eliminating six vice president and 10 director positions. Borders said it cut the position of executive vice president of U.S.”
~News submitted by upthecreek
According to AP, StarTribune: “Macy’s (NYSE:M) said it would eliminate about 7,000 positions from its workforce in offices, stores and other facilities. This total includes about 1,200 positions being added to new My Macy’s districts and regions.
In addition, merit salary increases for executives considered in spring 2009 for performance in 2008 are being eliminated across the company.”
“The latest job cuts, representing about 4 percent of its work force, will affect 40 percent of its executive positions, plus some 5,100 jobs in its roughly 850 stores. Further, the department store chain plans to cut raises and executive perks.”
Update 1 (02-02-2009):
~Please feel free to send us updates, comments regarding Macy’s layoffs
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