article thumbnail

Dollar General Hit with $1M More in OSHA Fines, Bringing Total Since 2017 to $15M

Retail TouchPoints

The company has been fined $15 million since 2017 for safety hazards, according to a strongly worded OSHA statement outlining the new violations. We regularly review and refine our safety programs, and reinforce them through training, ongoing communication, recognition and accountability. million in penalties outstanding.

article thumbnail

Former Steinhoff leader found dead after massive fine levied

Inside Retail

Jooste, aged 63, was charged for making false and misleading Steinhoff’s financial statements between 2014 and 2017, according to the Australian Financial Review (AFR). Steinhoff revealed holes in its accounts in December 2017, the first sign of an accounting fraud that led to the near-collapse of the retailer, Reuters reported.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Nordstrom Financial Chief Bramman Steps Down; Insider Appointed Interim CFO

Retail TouchPoints

Nordstrom CFO Anne Bramman will step down from the role she has filled since 2017 on Dec. SVP and Chief Accounting Officer Michael Maher will step into the role on an interim basis while the company conducts an internal and external search for a permanent CFO. “As

Finance 270
article thumbnail

As more factories switch to renewable power, Ikea sets new emissions targets

Inside Retail

The 50 per cent reduction target compares with the 2016 financial year, while its prior 15 per cent goal was set in 2017. Ikea’s use of raw materials such as wood accounts for the biggest share (45.9 per cent) of the company’s emissions, with Ikea product use in customers’ homes accounting for 16.1

article thumbnail

How Retail Arrived at Black Friday 2017

Wiser

With Black Friday 2017 just days away, it’s only natural to look back and figure out where exactly this retail holiday came from. Let’s discuss the history and how we arrived at the current iteration: Black Friday 2017. . In addition, Visa found that Black Friday through Cyber Monday accounted for 9.1

ATS 84
article thumbnail

Mattress Firm Puts IPO on Ice, Citing Market Volatility

Retail TouchPoints

After going private in 2016, the chain hit a few bumps in the road, including an accounting scandal that saw the resignation of the current CEO. In 2017, Mattress Firm filed for bankruptcy to facilitate a prepackaged restructuring that included the closure of 700 underperforming stores.

Marketing 305
article thumbnail

The Body Shop Australia facing ‘cashflow crisis’

Inside Retail

The Guardian has quoted sources explaining that the money earned by the key overseas businesses during the peak trading period in November and December was paid into a global account, based in the UK – “a practice termed ‘cash pooling’”. As a result, global subsidiaries are struggling to pay suppliers for services rendered during that peak.

Shopping 290