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FedEx Plans $1 Billion in Cuts as Demand Falls

Retail TouchPoints

FedEx is planning to cut an additional $1 billion in costs, citing weak demand that led to a disappointing profit for Q2 2023, which ended Nov. The reductions will add to cost-cutting measures announced in September to bring FedEx’s total fiscal savings plan for 2023 to $3.7 FedEx had expected revenue of $23.7

Planning 275
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Tom Ford opens its first Australian Beauty concept store

Inside Retail

Estee Lauder’s beauty brand Tom Ford will open its first concept Australian Beauty Store at Chadstone – The Fashion Capital. Tom Ford opened its first store in Australia in Sydney in 2011, and it was acquired last year by beauty behemoth Estee Lauder in a US$2.8

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Consumer class action launched against JB Hi-Fi over ‘junk’ warranties

Inside Retail

A 2023 survey found 32 per cent of consumers had bought them at one time or another, often after being convinced by sales techniques. The suit is seeking refunds for consumers who bought such warranties between January 1, 2011 and November 29, 2023. Further reading: JB Hi-Fi says full-year profit fell, but sales up 4.3

Consumer 264
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Søstrene Grene to Open Flagship Store in Central London Amid UK Expansion Plans

365 Retail

Søstrene Grene , the esteemed Danish homewares and hobby brand, has unveiled plans to open a flagship store in Central London. Founded in 1973 by the Grene family, the brand’s legacy is now carried forward by Mikkel Grene, who took over as CEO and co-owner in 2011.

Planning 111
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In Push for a Turnaround at Kohl’s, Investor Group Nominates Nine Board Directors

Retail TouchPoints

Macellum Advisors GP , Ancora Holdings , Legion Partners Asset Management and 4010 Capital, together with their respective affiliates, are pushing the plan. in 2011 to 6.1% in 2019, and that the retailer earned about 44% less in 2019 than it did in 2011 despite similar total sales and $6.6

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Bark Ups the Ante in Petcare with Debut of Airline for Dogs

Retail TouchPoints

At launch, routes will serve the New York City metro area via Westchester County Airport (HPN), with flights to the Los Angeles area via Van Nuys (VNY) and London via Stansted Airport (STN). Premium flights for dogs and their humans are now available for booking, with the first flights taking off from New York on May 23, 2024.

Planning 235
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Sears Reaches $175 Million Settlement With Lampert, Clearing Way to Complete Bankruptcy

Retail TouchPoints

Sears Holdings and its creditors have reached a $175 million settlement agreement with former CEO Eddie Lampert and other investors that will clear the way for the retailer to execute its long-delayed bankruptcy plan. Lampert exited the CEO role when Sears entered bankruptcy in October 2018 and stepped down as Chairman in February 2019.

Planning 209