security

JCPenney's bankruptcy and how the maker of Sharpie will grow sales – Business Insider – Business Insider


Welcome to the year’s first edition of Retail Insider. We’ve made a New Year’s resolution to arrive earlier in your inbox in 2021, so that’s why you’re receiving this on Thursday. Now that this resolution has been publicly announced, we’ll surely stick to it, right?

Is your resolution to subscribe to more newsletters? We can help. If you haven’t already subscribed to this one, click here to get me, Gloria Dawson, senior editor of retail, and our associate editor, Danni Santana, in your inbox every week.

This week’s edition covers the infighting and egos that almost destroyed JCPenney after the retailer filed for bankruptcy. And we’ve got an interview with Newell’s CEO. Not familiar with Newell? Well, actually, you are. The company owns such brands as Crock-Pot, Mr. Coffee, Sharpie, and Rubbermaid. Behind these commonplace brands is a company that’s seen an unusual amount of turmoil.

jcpenney store

The remains of a JCPenney department store is seen at an abandoned shopping mall on August 20, 2019 in Roanoke Rapids, North Carolina.

ANDREW CABALLERO-REYNOLDS/AFP via Getty Images


When JCPenney filed for Chapter 11 bankruptcy on May 15, the retailer’s wild ride was just beginning. Our correspondent Madeline Stone offers a look at the roller-coaster hearings, tense negotiations, and claims of ’emotional distress’ that put 60,000 jobs and the storied department store’s future on the line.

Also in department store demise news this week: 

newell brands interview ravi saligram 2x1



Seth Perlman/AP Photo; Newell Brands; Samantha Lee/Business Insider


The CEO spot at Newell Brands was an unenviable position in 2019, writes our senior reporter Alex Bitter. And not just because the company doesn’t have a very recognizable name. The brands the company owns are varied and ubiquitous, like Rubbermaid, Sharpie, Yankee Candle, and Oster blenders. But the company’s woes — mismatched mergers and ousted execs — are pretty ubiquitous, too. 

CEO Ravi Saligram was brought in to unify the company and his timing was rather perfect. Consumers flocked to the company’s name-brand home goods during the pandemic. Now he’s hoping to keep sales soaring while continuing to smooth things out with the board. 

Elsewhere in Retail:



READ SOURCE

Read More   Application Security Market 2019-2025 | Veracode, HPE, Synopsys, IBM, WhiteHat Security Qualys, Checkmarx , Acunetix , Rapid7 , Trustwave, High-Tech Bridge, Contrast Security , SiteLock, Pradeo (Paris, France), and Fasoo (New Jersey, US). - Market Expert

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.