Latest news with #Bender
Yahoo
3 days ago
- Business
- Yahoo
Kohl's to close Ohio fulfillment center, lay off 768
This story was originally published on Supply Chain Dive. To receive daily news and insights, subscribe to our free daily Supply Chain Dive newsletter. Kohl's will permanently shutter an e-commerce fulfillment center in Monroe, Ohio, effective Oct. 31, the company announced earlier this month. The discount retailer will lay off 768 employees as part of the closure, per a Worker Adjustment and Retraining Notification Act notice filed June 5. Most workers' last day of employment will be Sept. 12. The company said it is closing the Ohio facility due to improved efficiency at newer centers, which has allowed it to expand customer fulfillment from stores. Kohl's is reducing the size of its supply chain footprint amid a turbulent time for the discount retailer. The Ohio e-commerce fulfillment center was one of 14 such facilities in the retailer's network and had been in operation since 2001, per a company press release. 'This was a difficult decision, and one we did not take lightly,' said interim CEO Michael J. Bender. 'Ultimately, it's a necessary step to strengthen our operational discipline, drive greater cost efficiency, and ensure the long-term health of our business — for our customers, our associates, and the future of our company.' The company previously announced plans to also close a California e-commerce fulfillment center after its lease expired in May. The facility was first opened in 2010. Meanwhile, Kohl's is contending with the crunch of heightened tariffs on imported goods, which have hit discount retailers harder than expected. In response, Kohl's has adjusted its inventory strategy to focus on high-demand products while focusing on sourcing diversification and supplier collaboration. Beyond a rebalancing of its supply chain, Kohl's is also undergoing major changes elsewhere within the company. Bender took over as interim chief executive in May after predecessor Ashley Buchanan was fired just a few months into his tenure due to conflicts of interest. Buchanan's departure followed shakeups at the executive level as well as a 10% reduction of the company's corporate workforce in January. However, the multi-pronged turbulence does not mean the company is abandoning supply chain investments altogether. On a May 29 earnings call, CFO Jill Timm said Kohl's plans to spend between $400 million to $425 million in capital expenditures this year, with some of those funds allocated toward an expansion of its e-commerce fulfillment center in Indiana. This story was first published in our Operations Weekly newsletter. Sign up here. Recommended Reading Kohl's shifts inventory strategy to curb tariff impact Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Edinburgh Reporter
02-06-2025
- Entertainment
- Edinburgh Reporter
Restless Natives
There are those of us from a certain generation that grew up with Restless Natives. I remember it being screened on Channel 4 while still at St Mark's Primary School in Oxgangs. The next day my classmates were buzzing with tales of the Clown and the Wolfman riding on a Suzuki motorbike and holding up buses. They presented a new kind of Scottish hero from just down the road in Wester Hailes. Part of it was seeing characters with accents like yours, they were modern day folk heroes robbing the rich to literally throw money around Edinburgh council schemes. Forty years later the story returns with a new stage production which arrives in Edinburgh this month at Leith Theatre exactly four decades after the film premiered in Edinburgh's ABC cinema in June 1985. Original Restless Natives screenwriter and now lyricist Ninian Dunnett and director Michael Hoffman invited Sarah Galbraith to be part of an original workshop for the new musical version just after Covid-19. The role she was invited to play had a certain amount of heft thanks to the great character actor Ned Beatty who played American cop Bender. In the original film he gets involved in the police chase to capture Will and Ronnie. (This time around Bender remains American but he has changed gender.) 'I didn't know they were going to switch the role' said Sarah of Bender's transition from male to female, 'but like the character, I was an American in Scotland.' Galbraith is now based in Falkirk with her husband and daughter. 'Later I asked Michael Hoffman and he explained that he hadn't really thought about it, but decided it would be great for this version. They've developed this brilliant story around her and the reason she really wants to catch these boys is because of issues with her dad. It's a cool transition.' While the original film is packed with Scottish banter and humour, it was also political with an undertone of Scottish nationalism. It's fair to say anti-Thatcherite themes were more obvious. Ms Galbraith said: 'The production does have a moral compass, there's dialogue where the characters talk about tourists spending £20 on a pair of plastic bagpipes while they are underpaid. Will's moral compass kicks in and he wants to give the money away to help people. The scene where money is fired out of these cannons to his community with people picking up the money is very powerful. Ronnie goes more off the deep end and is more into the badness (of robbing). It's really all about how you 'stick it to the man' and make more of yourself than what was ever expected of you.' The production has been successfully touring Scotland where certain audiences have cheered when the classic line is recited 'I hold up buses'. Edinburgh is central to the story with locations such as Wester Hailes, Princes Street, North Bridge and Salisbury Crags all included in the original film. The bus station scene was said to have been filmed in Glasgow but the yellow Bar-Ox (a teenage gang from Oxgangs) spray paint on the escalator suggests otherwise. Now north Edinburgh will become part of the story when Restless Natives arrives at the regenerated Leith Theatre. Sarah said: 'We are looking forward to arriving in the capital where the story is set. It's a home-grown Scottish musical, there are lots of jukebox musicals now but as well as the original Big Country material there's new music written by Tim Sutton. The sounds very much belong in the 80s in terms of the Big Country guitar riffs as well as the kinds of sounds you might recognise from an advert or something that could only be from that time.' The much loved Big Country soundtrack amplified the Scottish underdog spirit of the film, and Will's fascination with Rob Roy also added a further swashbuckling romance. The musical, much like the original film, suggests it's time for Scotland to produce new stories and heroes. Sarah added: 'The tourists are no longer interested in the original Scottish heroes. They want to know about these new ones. As the policeman says at the end 'spending is up, tourism is up; you're bigger than the Loch Ness Monster'. These boys become the Scottish heroes of the times'. Ned Beatty was persuaded to take on the original role of Bender for £25,000, a kilt and a Scottish holiday. Ned Beatty Photo courtesy of Studio Canal Sarah agrees there are resonances with herself and the character. She arrived in Scotland after growing up in New Jersey and meeting her husband while singing on a cruise ship. She said: 'I was about 15 minutes from New York and my thing growing up was Broadway shows. In those days you could get tickets for the last row for around $15. My idol was Lea Salonga who was the original voice of Jasmine in the Disney film Aladdin, I would go and see her in Miss Saigon and Les Misérables, really anything she was in'. Sarah achieved something of an American dream when she met Lea and became her backing singer for UK tours and a subsequent Christmas tour of the states. She will carry on in that role later this year. 'I met my idol and now I sing backing for her'. Sometimes dreams do come true. Restless Natives is at Leith Theatre from June 7 to 21 2025 A still from the original film courtesy of Studio Canal Sarah Galbraith – an American in Scotland 'Restless Natives' Musical Scotland Tour 40 years on from their last ride (the original film was released in 1985), this hilarious and faithful new adaptation is produced by the same creative team behind the beloved classic Scottish film. PHOTO Colin Hattersley Like this: Like Related
Yahoo
02-06-2025
- Business
- Yahoo
Vislink Appoints William J. Bender, USAF, Lt. Gen. (Ret.) to its Board of Directors
Mt Olive, New Jersey, USA, June 02, 2025 (GLOBE NEWSWIRE) -- Vislink Technologies, Inc. (OTCQB: VISL) , a global technology leader in the capture, delivery, and management of high-quality live video and associated data across defense, public safety, and broadcast sectors today announced the appointment of William J. Bender, USAF, Lt. Gen. (Ret.) to its Board of Directors, effective June 1, 2025. Lt. Gen. Bender brings to Vislink a distinguished record of leadership in the technology, cybersecurity, and defense sectors. With over 34 years of outstanding service in the United States Air Force, culminating in his role as Chief Information Officer, Bender has deep expertise in strategic IT planning, cyber operations, and governance. His post-military career has included executive leadership and board positions at major technology and defense firms, including his tenure as Senior Vice President at Leidos and current board roles at Anametric, GrammaTech and Tangram Flex. 'We're excited to welcome Lt. Gen. Bill Bender to our Board of Directors,' said Sue Swenson, Board Chair. 'Bill brings an exceptional blend of leadership from his distinguished military service and extensive commercial experience. His insights will be invaluable as we continue to expand our focus in the federal and DoD sectors.' 'We are honored to welcome Bill to Vislink's Board of Directors,' said Mickey Miller, CEO of Vislink. 'His extensive experience in defense technology and cybersecurity, coupled with his proven leadership in both the public and private sectors, will be instrumental as we continue to innovate and execute on our growth strategy. Bill's unique experience and insights will help us better serve our customers in mission-critical markets, and we look forward to his contributions to our Board.' 'I am excited to join Vislink at this pivotal time,' said Bender. 'Vislink's cutting-edge technologies and commitment to excellence make it a key player in the live video and communications space. I look forward to working with the Board and management team to help advance the company's mission and create value for its stakeholders.' Lt. Gen. Bender has held senior advisory and consulting roles with several firms in the defense and technology sectors, including ManTech Corp, Varonis, IT Cadre, Electrosoft Services, BYOS, Keeper Technology, and Smartsheet. He also served as Board Chair of AFCEA International (formerly Armed Forces Communications & Electronics), a 34,000-member global nonprofit focused on communications, IT, intelligence, and global security, and as a member of the Board of the National Defense University Foundation, where he chaired the Financial Committee. About Vislink Technologies, Inc. Vislink Technologies is a global technology leader in capturing, delivering, and managing high-quality live video and associated data. With a renowned heritage in video communications encompassing over 50 years, Vislink has revolutionized live video communications by delivering the highest-quality video from the scene, even in the most challenging transmission conditions, enabling broadcasters, defense and public safety agencies to capture and share live video seamlessly and securely. Vislink provides live streaming solutions using RF, bonded cellular, 5G, and AI-driven technologies. Vislink's shares of common stock are publicly traded on the OTCQB Capital Market under the ticker symbol 'VISL.' For more information, visit Investor Relations Contact:investors@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fibre2Fashion
30-05-2025
- Business
- Fibre2Fashion
American retailer Kohl's Q1 sees progress despite 4.1% sales decline
American omnichannel retailer Kohl's, in the first quarter (Q1) of fiscal 2025 (FY25) ended May 3, has reported net sales of $3 billion, marking a year-over-year (YoY) decline of 4.1 per cent, with comparable sales down 3.9 per cent. The gross margin improved by 37 basis points (bps) to 39.9 per cent of net sales, and selling, general and administrative (SG&A) expenses fell by 5.2 per cent to $1.2 billion, representing 36 per cent of total revenue—down 32 bps YoY. Kohl's has reported net sales of $3 billion in Q1 FY25, down 4.1 per cent YoY, with comparable sales down 3.9 per cent. Operating income rose to $60 million, while net loss narrowed to $15 million. Gross margin improved to 39.9 per cent and SG&A expenses declined. CEO Bender expressed optimism as he assumed leadership. FY25 outlook includes a 5â€'7 per cent sales decline and capex of $400â€'$425 million. The operating income rose to $60 million, compared to $43 million in the prior-year period, with the operating margin improving by 58 bps to 1.9 per cent. The company reported a net loss of $15 million, or $0.13 per diluted share, compared to a net loss of $27 million, or $0.24 per diluted share, in Q1 FY24. Inventory levels stood at $3.1 billion, a 2 per cent increase from the previous year, while operating cash flow recorded an outflow of $92 million, Kohl's said in a press statement. 'Our first quarter performance was ahead of our expectations and the actions we are taking are starting to make progress with early signs of a positive impact. Our team is focused and motivated to deliver great products, great value, and a great shopping experience to our customers. I want to thank our amazing team of associates for their hard work and dedication,' said Michael Bender, Kohl's interim chief executive officer (CEO). 'I am honoured to assume the role of interim CEO at such an important time for our company. Kohl's has a tremendous opportunity to build on our strong foundation of over 1,100 conveniently located stores and a large and loyal customer base,' added Bender on assuming his new role as CEO. 'I am excited to lead this next chapter of Kohl's and build on the momentum we have begun to generate.' For FY25, Kohl's expects net sales to decline by 5–7 per cent and comparable sales to fall by 4–6 per cent. The operating margin is projected between 2.2–2.6 per cent, with diluted EPS in the range of $0.1 to $0.6. Capital expenditures (capex) are estimated at $400–$425 million. Fibre2Fashion News Desk (SG)
Business Wire
29-05-2025
- Business
- Business Wire
Kohl's Reports First Quarter Fiscal 2025 Financial Results
MENOMONEE FALLS, Wis.--(BUSINESS WIRE)--Kohl's Corporation (NYSE:KSS) today reported results for the first quarter ended May 3, 2025. Michael Bender, Kohl's Interim Chief Executive Officer, said, 'I am honored to assume the role of Interim CEO at such an important time for our company. Kohl's has a tremendous opportunity to build on our strong foundation of over 1,100 conveniently located stores and a large and loyal customer base.' 'Our first quarter performance was ahead of our expectations and the actions we are taking are starting to make progress with early signs of a positive impact. Our team is focused and motivated to deliver great products, great value, and a great shopping experience to our customers. I want to thank our amazing team of associates for their hard work and dedication. I am excited to lead this next chapter of Kohl's and build on the momentum we have begun to generate,' Bender continued. First Quarter 2025 Results Comparisons refer to the 13-week period ended May 3, 2025 versus the 13-week period ended May 4, 2024 Net sales decreased 4.1% year-over-year, to $3 billion, with comparable sales down 3.9%. Gross margin as a percentage of net sales was 39.9%, an increase of 37 basis points. Selling, general & administrative (SG&A) expenses decreased 5.2% year-over-year, to $1.2 billion. As a percentage of total revenue, SG&A expenses were 36.0%, a decrease of 32 basis points year-over-year. Operating income was $60 million compared to $43 million in the prior year. As a percentage of total revenue, operating income was 1.9%, an increase of 58 basis points year-over-year. Net loss was $15 million, or ($0.13) per diluted share. This compares to net loss of $27 million, or ($0.24) per diluted share in the prior year. Inventory was $3.1 billion, an increase of 2% year-over-year. Operating cash flow was a use of $92 million. 2025 Financial and Capital Allocation Outlook For the full year 2025, the Company continues to expect the following, excluding the impact of potential items not representative of our core operating performance: Net sales: A decrease of (5%) to a decrease of (7%) Comparable sales: A decrease of (4%) to a decrease of (6%) Operating margin: In the range of 2.2% to 2.6% Diluted EPS: In the range of $0.10 to $0.60 Capital Expenditures: In the range of $400 million to $425 million Dividend: On May 14, 2025, Kohl's Board of Directors declared a quarterly cash dividend on the Company's common stock of $0.125 per share. The dividend is payable June 25, 2025 to shareholders of record at the close of business on June 11, 2025. First Quarter 2025 Earnings Conference Call Kohl's will host its quarterly earnings conference call at 9:00 am ET on May 29, 2025. A webcast of the conference call and the related presentation materials will be available via the Company's web site at both live and after the call. Cautionary Statement Regarding Forward-Looking Information This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends forward-looking terminology such as 'believes,' 'expects,' 'may,' 'will,' 'should,' 'anticipates,' 'plans,' or similar expressions to identify forward-looking statements. Forward-looking statements include the information under '2025 Financial and Capital Allocation Outlook.' Such statements are subject to certain risks and uncertainties, which could cause the Company's actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks described more fully in Item 1A in the Company's Annual Report on Form 10-K, which are expressly incorporated herein by reference, and other factors as may periodically be described in the Company's filings with the SEC. Forward-looking statements relate to the date initially made, and the Company undertakes no obligation to update them. About Kohl's Kohl's (NYSE: KSS) is a leading omnichannel retailer built on a foundation that combines great brands, incredible value and convenience for our customers. Kohl's is uniquely positioned to deliver against its long-term strategy and its purpose to take care of families' realest moments. Kohl's serves millions of families in its more than 1,100 stores in 49 states, online at and through the Kohl's App. With a large national footprint, Kohl's is committed to making a positive impact in the communities it serves. For a list of store locations or to shop online, visit For more information about Kohl's impact in the community or how to join our winning team, visit KOHL'S CORPORATION CONSOLIDATED BALANCE SHEETS (Unaudited) (Dollars in Millions) May 3, 2025 May 4, 2024 Assets Current assets: Cash and cash equivalents $ 153 $ 228 Merchandise inventories 3,137 3,083 Other 290 345 Total current assets 3,580 3,656 Property and equipment, net 7,209 7,664 Operating leases 2,374 2,498 Other assets 476 460 Total assets $ 13,639 $ 14,278 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 1,026 $ 1,220 Accrued liabilities 1,177 1,265 Borrowings under revolving credit facility 545 355 Current portion of: Long-term debt 353 — Finance leases and financing obligations 80 81 Operating leases 99 92 Total current liabilities 3,280 3,013 Long-term debt 1,174 1,638 Finance leases and financing obligations 2,433 2,651 Operating leases 2,687 2,783 Deferred income taxes 27 94 Other long-term liabilities 259 286 Shareholders' equity: 3,779 3,813 Total liabilities and shareholders' equity $ 13,639 $ 14,278 Expand KOHL'S CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Three Months Ended (Dollars in Millions) May 3, 2025 May 4, 2024 Operating activities Net loss $ (15) $ (27) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 175 188 Share-based compensation 9 10 Deferred income taxes (2) (13) Non-cash lease expense 21 22 Other non-cash items 2 3 Changes in operating assets and liabilities: Merchandise inventories (191) (202) Other current and long-term assets 31 (81) Accounts payable (16) 86 Accrued and other long-term liabilities (83) 34 Operating lease liabilities (23) (27) Net cash used in operating activities (92) (7) Investing activities Acquisition of property and equipment (110) (126) Proceeds from sale of real estate 2 — Net cash used in investing activities (108) (126) Financing activities Net borrowings under revolving credit facility 255 263 Shares withheld for taxes on vested restricted shares (4) (9) Dividends paid (14) (55) Finance lease and financing obligation payments (21) (21) Proceeds from financing obligations 3 — Net cash provided by financing activities 219 178 Net increase in cash and cash equivalents 19 45 Cash and cash equivalents at beginning of period 134 183 Cash and cash equivalents at end of period $ 153 $ 228 Expand
