Following in the footsteps of JC Penney and others, struggling rollup Ascena Retail Group said it plans to pay up to $5.5 million in retention awards and performance bonuses and undo pay cuts to top executives, as it reportedly weighs a bankruptcy filing in the face of its debt and declining sales.
Just a month into the job from Target, new Bed Bath & Beyond CEO Mark Tritton has let go six executives as part of a major shakeup at the struggling home goods retailer after years of negative results. Tritton saw great success as chief merchandising officer at Target, launching private label brands, some now north of $1 billion.
While merchants have been putting forth most of their efforts into creating a customer-centric approach in the contact center and the warehouse, the top initiative by executives moving forward is to also create a customer-centric supply chain.