1. Party City & Etsy not only went public but are showing great earnings just out of the gates!
2. Wal-Mart made the news several times this week:
- First by suddenly shutting down 5 different Wal-Marts for “plumbing issues” and laying off 2,200 employees in Texas, California, Florida, and Oklahoma. The stores have not applied for necessary permits as of yet, and the company has stated that the stores will remain closed until the problems are resolved. Employees severances are permanent and they were offered two months of paid leave until they can find a new job.
- Second, in more positive news, Wal-Mart is eliminating the job title Zone Manager without actually letting go of any employees. This will give the department managers more freedom and confidence to run their zones and focus less on the priorities of a supervisor, and more on the needs of their customers. How can you make similar changes for your employees?
3. It was a dark week for risqué lingerie as Fredrick’s of Hollywood went in a weeks time from shutting down only 31 locations, to shutting down all locations and becoming exclusively online, but then by Friday morning announcing they were filing for Chapter 11 Bankruptcy.
4. Gap, Target, Sears, T.J. Maxx, Williams & Sonoma, A&F, JCP, Burlington and 7 more large retailers have their scheduling practices analyzed under a microscope. New York’s Attorney General wants to put a stop to the unfair practice of “on-call” shifts for retail employees.
5. Apple has made the purchase of the Apple Watch exclusively online until June.