“As 2020 progressed, we significantly improved GE's profitability and cash performance despite a still-difficult macro environment."
The move would “would be the latest dramatic change at a company” that was once "a financial-services behemoth
Tailored Brands is the latest of more than 20 private and public retailers to have declared bankruptcy this year.
"A total rewire is necessary to make Harley-Davidson a high-performance company,” CEO Jochen Zeitz says after Harley also reported a surprise loss.
The iconic retailer says the progress it had been making after years of declining sales "was wiped out with the onset of COVID-19."
"GE’s restructuring remains very much a work-in-progress, with some signs that [CEO Larry] Culp’s turnaround is taking hold."
The company has also closed 38 locations as it struggles with declining mall traffic and a shift away from casual dining.
CFO Jon Moeller says the second-quarter results show P&G's turnaround plan is working despite weak sales of baby and feminine care products.
“At this point, we must acknowledge the turnaround in [the Snapchat maker's] underlying operating trends," one analyst says.
Deborah Rieger-Paganis says she is "committed to instilling financial discipline across the organization as we work to drive a successful turnaround."
James Brett reportedly clashed with J.Crew Chairman Mickey Drexler over his strategy for turning around the ailing retailer.
The cosmetics company posted breakeven earnings per share and sales fell year-over-year.
