Target looks to double bonuses this year, Bloomberg News says
The company will pay 100% of employees' eligible 2023 bonuses, up from 50% last year, the report said, adding that the increased payouts do not apply to hourly employees.
The company will pay 100% of employees' eligible 2023 bonuses, up from 50% last year, the report said, adding that the increased payouts do not apply to hourly employees.
In an unusual move, M&S in early 2022 switched to being led by two CEOs after the retailer fell on hard times. It has since improved markedly, with its share price surging 50 percent over the past 12 months on strong sales.
Despite a solid holiday quarter, Foot Locker said it would achieve its long-term profit margin target two years later, in 2028, dashing hopes of a steady recovery in margins, which have been crimped due to a surge in promotions.
The Minneapolis-based firm is expected to report a 4.6% drop in comparable sales for the holiday quarter and a 3.6% decline for the year, according to LSEG estimates.
The retailer did not provide details on the location of stores set to close or how many employees will be laid off. It also plans to monetize $600 million-$750 million of assets over the next three years.
Superdry has battled weak demand for its jackets and clothing, as well as a cash crunch. It said in January that it does not expect market conditions to improve in the near term after group sales fell 13.7% in a tough Christmas quarter.
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Retailers could potentially adjust their discounts in a bid to entice price-sensitive shoppers in the days before Christmas. But so far, "what's interesting this year is that even though we're in a promotional environment, the promotions haven't been very deep," said Jessica Ramirez, a senior research analyst for Jane Hali & Associates.
Retail sales in October and November 2023 grew by only 7% compared to the same period in 2022, despite the festive season, according to a survey by the Retailers Association of India (RAI). Many retailers faced muted footfalls, and sales were similar to the previous year. The growth varied across regions, with East India signaling an 11% growth, South India 7%, North India 6%, and West India 5%.
"The customer has a right to know, before making his purchase that additional cost of the carry bag will be charged and also has the right to know the salient specifications and price of the carry bag," the commission said. It said carry bags of "undisclosed specifications" were forced on consumers at the price fixed by the retailer. Besides causing "harassment", the practice also affected the customer's rights to make an informed decision, the commission said.
Arkhouse and Brigade believe Macy's is undervalued in the public markets and have indicated a willingness to raise the offer subject to due diligence, the WSJ report said, adding that an investment bank has provided a letter supporting the group's ability to raise the necessary financing to get through the deal.