News about Adrian Mitchell

Whole Foods is expected to debut a number of small-format stores, becoming the first retailer to shift its attention away from convenience stores and toward convenience stores. The new stores, dubbed Whole Food Market Daily Shop, will be available in sizes ranging from 7,000 to 14,000 square feet. It's just a fraction of the Whole Foods that typically weighs about 40,000 square feet. It comes as Macy's and Best Buy revealed plans to open smaller format stores that could cut labor and rental prices. Whole Foods stores that have been slimmed down will have their buffet bars and meat counters removed from their shelves. Rather, there will be a smaller variety of items ranging from fresh produce and food to prepacked meals.

As she joined the actors arriving at the British Vogue And Tiffany & Co., the 50-year-old posed up a storm. On Sunday evening, Annabel's celebrated the 2024 Fashion And Film Festival. In a dramatic black dress with a lace bodice, the actress, 50, turned heads. The high-legged corset converted into a long black train skirt.

Macy's has turned down a $5.8 billion takeover bid from two brokerage companies, only days after the department store announced that it would axe five stores. On December 1, Arkhouse Management and Brigade Capital Management made the proposal to privatize the firm. Macy's executives confirmed that the agreement did not have 'compelling value' to its shareholders. Macy's CEO Jeff Gennette and president Tony Spring's leaked internal memo this week announced that Macy's would axe five stores and reduce around 3.5 percent of the company's total workforce, resulting in the loss of 2,350 jobs. The partnership between Arkhouse, a real estate-focused investment company, and Brigade, a multinational asset manager, would see the two companies purchase all Macy's shares that do not currently own for $21 per share.

Macy's will layoff 2,350 workers and close five stores as the newest survivor of America's retail apocalypse. According to a leaked internal memo, the chain plans to expand automation into its supply chain and reduce managerial layers to expedite decision making. Around 3.5 percent of the company's total workforce and 13 percent of its corporate staff will be affected by the layoffs. It comes as Macy's President Tony Springer prepares to replace Jeff Gennette as CEO next month. In a memo seen by the Wall Street Journal, Gennette and Spring wrote: "We remain under pressure despite our rapid and concrete growth over the past few years.'

Because of unprecedented demands on household finances, Macy's executives have warned of a surge in customers struggling to make credit card payments. Due to the rise in delinquencies, the department store's credit card sales have dropped by 36 percent this year. Bosses predicted a rise in delinquencies post-pandemic, but the trend had been 'faster than expected.' It comes after Fed reports reported that America's credit card debt increased to $1 trilli on Monday. 'The increase in the number of us and the wider credit card industry was quicker than expected,' Macy's chief operating officer and chief finance officer Adrian Mitchell said in an earnings call.'