Parent of Apparel Retailer New York & Co. Files for Bankruptcy Protection

| Mike O'Brien

RTW Retailwinds, parent of apparel retailer New York & Co., filed for bankruptcy protection, adding it plans to close most if not all of its nearly 400 stores and seek a buyer for its ecommerce business. The company plans to continue operations, including re-openings where appropriate, paying vendors and suppliers and employees.

brooks brothers brass plaque

Storied Clothier Brooks Brothers Files Chapter 11, Cites COVID-19 Impact

| Mike O'Brien

Brooks Brothers, famous for its pinstriped suits worn by 40 of the 45 U.S. presidents and legions of executives since its 1818 founding in New York, filed for Chapter 11 bankruptcy protection, citing the impact of COVID-19 as a major factor. The company, with $1 billion in sales and $300 in debt, expects to find a buyer shortly.

Amazon Reportedly Weighing J.C. Penney Acquisition Out of Chapter 11

| Mike O'Brien

Shortly after J.C. Penney filed Chapter 11, Amazon reportedly was in talks about possibly picking up the troubled store chain on the cheap. The plan calls closing 242 of 846 stores by 2021, setting up a real estate investment trust (REIT) to handle the balance of its physical assets and receiving $900 million in debtor-in-possession financing.

J. Crew

Degraded Loyalty a Leading Indicator of J. Crew’s Chapter 11 Filing

| Robert Passikoff

Twenty first century loyalty – the degree to which a brand meets customer expectations for their Ideal in a product category – is a KPI that changes before the brand’s economic structure begins to improve or decline. It’s an early warning signal that your brand may be in trouble. And J. Crew’s recent Chapter 11 filing is a prime example.

J. Crew, Madewell Parent Files for Chapter 11 Bankruptcy Protection

| Mike O'Brien

Chinos Holdings, parent of preppy clothing retailer J. Crew and women’s apparel and accessories seller Madewell, filed Chapter 11 as part of a restructuring plan that calls for converting $1.65 billion of its debt to equity and securing $400 million in loans. This is the first major retailer to file for bankruptcy during the coronavirus crisis.

Ecommerce Sets Records Over Cyber Weekend, Stores See Slight Declines

| Douglas P. Clement

Total ecommerce sales hit $26.93 billion over Cyber Weekend, according to data from Adobe Analytics, as stores went in the opposite direction. Cyber Monday’s online spending reached a record $9.4 billion, up 19.7%, making it the largest online shopping day of all time in the U.S. Store sales dipped nearly 1%, according to RetailNext.

Nike to Stop Selling on Amazon, Two Years In

| Mike O'Brien

Seeing the future as more DTC and under its control, Nike has decided to stop selling on Amazon’s marketplace after a two-year experiment, CNBC is reporting. The news follows shortly after Nike’s hiring of board member John Donahoe, chairman of PayPal and former CEO of eBay, as its new president and CEO, replacing Mark Parker.

The ABCs of Digital Transformation for Retailers like J. Crew

| Ed Kennedy

Whether it’s halting all operations like Toys R Us or perpetually closing stores like Sears, many retailers are scrambling, more often than not, to pay back millions of dollars in debt and strategize to see another day. Here are the ABCs of a digital transformation that retailers should know about.

J.Crew Names James Brett As New CEO

| MCM staff

J.Crew Group, Inc. announced that it has named James Brett as Chief Executive Officer. Brett, an executive with more than 25 years of retail experience, most recently served as President of specialty home furnishing company West Elm. See what Brett and J. Crew executives had to say about the new position.