Retail Layoffs and CEO Changes
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Welcome back to FN Daily, where we break down the biggest stories happening in footwear and retail.
Today, we're talking about DBI's new CEO, layoffs at Amazon and Stitch Fix and online retail sales this holiday season.
Here's what you need to know:
DSW president?Doug Howe?will become CEO of the footwear retailer’s parent company, Designer Brands Inc., effective April 1. He will succeed current CEO Roger Rawlins as part of a long-term succession plan.
Howe’s accession to the CEO role comes less than a year after the?retail veteran joined DBI?as president of DSW. Before DBI, Howe served as the chief merchandising officer at Kohl’s.
Zoom out: With this announcement, DBI joins a growing list of companies with planned CEO transitions slated for 2023, including Under Armour, Caleres and Reebok.
It’s only the first week of January and several major retail companies have already announced job cuts as businesses rush to reduce costs.
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Amazon CEO Andy Jassy announced Wednesday that the company would cut a total of 18,000 roles as the company grapples with an uncertain economic environment permeating tech and other industries.
And on Thursday, Stitch Fix?announced that CEO Elizabeth Spaulding would step down from her role as the struggling fashion service cuts close to 20% of salaried roles.
Online holiday sales were up 3.5% year over year during the period between Nov. 1 and Dec. 31, according to new data released by?Adobe?Analytics this morning.
What does this mean? Despite the pressure of inflation, shoppers came out in pursuit of discounts this holiday season.
By the numbers: Shoppers spent a total of $211.7 billion online during the holiday shopping period, which set a new record for e-commerce sales during the holidays.
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2 年Let’s hope that the full extent of the #layoffs at Amazon do not come to fruition…??