Welcome to the year's first edition of
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This week's edition covers the infighting and egos that almost destroyed
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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
Also in department store demise news this week:
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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:
- $4 offering restaurants profitable alternatives to DoorDash, Uber Eats, and Grubhub
- $4 how the ballet-inspired fitness company retained most of its members during lockdown - and increased subscribers by 44% after studios reopened
- $4 after the holidays - but these 5 startups are making the process smoother and cheaper
- From being targeted for robbery to confrontational customers, $4
- Opinion: In 2020, big businesses got bigger and small businesses died. $4