article thumbnail

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
article thumbnail

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
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Famous Footwear Parent Caleres Outlines Executive Changes

Retail TouchPoints

Caleres has revealed its executive succession plan after CEO Diane Sullivan announced her retirement, effective Jan. She joined Caleres as President in 2004 and by 2006 she became COO, before being named to the CEO and President roles in 2011. 15, 2023, with Jay Schmidt taking the reins as the top executive.

article thumbnail

Stylitics Raises $80M for its AI-Powered Visual Merchandising Platform

Retail TouchPoints

The new investment from PSG brings the total amount Stylitics has raised since it was founded in 2011 to $101 million. The company also plans to ramp up its R&D initiatives around AR, VR, store, voice, on-figure and other inspiration-based emerging technologies, as well as enhance its program management solutions for customers.

article thumbnail

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

article thumbnail

Retail appointments of the week

Inside Retail

Steele has worked with Krispy Kreme since 2006, rising through the ranks from crew member to store manager and area manager. Currently the general manager for travel retail worldwide, Boinay started as a marketing trainee for L’Oreal in 1992 and has served in his current role since 2014.

article thumbnail

EE and ITV unveil latest store opening on the cobbles of Coronation Street, in new partnership

Retail Focus

ITV and EE today announce a new product placement partnership, with plans unveiled for EE’s latest store opening on one of the most famous streets in the UK, Coronation Street. Product placement (PP) was introduced in the UK in 2011 and ITV led the way with the very first PP on British screens.

Returns 130