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Popular home furnishings retailer At Home has announced that it will close additional locations as it continues to work through bankruptcy proceedings. The store closures are part of the companys efforts to get its debt under control as its bottom line continues to face several negative headwinds. Heres what you need to know about At Homes bankruptcy and its latest round of store closures. Why is At Home filing for bankruptcy? In June, At Home Group announced that it would file for Chapter 11 bankruptcy protection as it struggled under $2 billion worth of debt and sales challenges. As Fast Company previously reported, At Home cited several factors leading to its increased debt load and declining sales. Those factors included inflationary pressures, reduced foot traffic, and tariff-related costs. Many of the factors are interlinked. Inflationary pressures lead to both higher prices in stores as well as a more cautious consumer, reluctant to spend their declining purchasing power on discretionary goods. The inflationary pressures arent helped by President Donald Trumps ongoing global tariff war. Trump’s tariffs, which are taxes placed on companies importing goods into America, are raising expenses for those companies, which leads to decreased profits and more debt. As profits decline and companies take on more debt, some may feel that they have little choice but to file for bankruptcy in order to get a handle on their finances. Trump’s tariffs have hit major home goods, furniture, and other retailers particularly hard, as those businesses typically import a significant amount of their goods from overseas. Announcing the bankruptcy in June, At Home CEO Brad Weston said, “[We] are operating against the backdrop of an increasingly dynamic and rapidly evolving trade environment as we navigate the impact of tariffs. At Home is now taking steps to “improve our ability to compete in the marketplace in the face of continued volatility and increase the resilience of our business for the long term,” Weston added. After At Home announced its bankruptcy filing, the company also said it would shutter over two dozen locations. Now, more have been added to that list. At Home stores closing update August 2025 In June, At Home announced it would be closing 26 of its stores as part of its bankruptcy proceedings. At the time, At Home said it operated 260 stores in 40 states. The closures represented 10% of its physical locations. Fast Company has previously reported the full list of 26 locations, which spanned 12 states. Original list: 26 closing At Home stores But now, At Home has announced that it will close an additional six locations, each in a different state. Those locations are: 3271 Market Place Drive, Council Bluffs, Iowa 51501 101 Randall Road, Lake in the Hills, Illinois 60156 3175 West 3rd Street, Bloomington, Indiana 47404 3100 Washtenaw Avenue, Ypsilanti, Michigan 48197 2341 State Route 66, Ocean Township, New Jersey 07712 190 South 500 West, West Bountiful, Utah 84010 At Home did not specify when these locations would close, but Fast Company previously reported that closing locations are expected to shutter by September 30. The newly announced closing stores will continue to accept gift cards, gift certificates, and loyalty and credit card rewards through August 14. Announcing the latest round of closures, At Home said, The sales are expected to run until all merchandise, fixtures, and store equipment at the affected locations are sold.
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E-Commerce
Hello and welcome to Modern CEO! I’m Stephanie Mehta, CEO and chief content officer of Mansueto Ventures. Each week this newsletter explores inclusive approaches to leadership drawn from conversations with executives and entrepreneurs, and from the pages of Inc. and Fast Company. If you received this newsletter from a friend, you can sign up to get it yourself every Monday morning. There are some brands that customers patronize for convenience and some they frequent out of fandom. Raising Canes has managed to be both practical and beloved, a potent combo that has fueled the chicken chains impressive growth. The privately held company posted sales of $5.1 billion in 2024, up 33% from a year earlier, with same-store sales climbing 15%. I asked co-CEO AJ Kumaran, who joined Raising Canes in 2014, to explain why people queue up for the restaurants relatively limited menu of chicken fingers, crinkle fries, Texas toast, Canes Sauce, and slaw. He attributes much of the brands cult-like following to its focus on community. We don’t just serve food. We serve our neighborhood, Kumaran explains. And thats not just corporate speak. That is truly what we believe in. AJ Kumaran [Photo: Courtesy of Raising Cane’s] Home sweet homage While other restaurant chains might festoon their locations with sports memorabilia from a big-league teama Cowboys flag in Dallas, a Royals hat in Kansas City, KansasCane’s takes a different approach. Each restaurants decor is assembled by a team that researches and acquires items specific to that community, like the local high schools football jerseys, patches and helmets from the fire department, and even the cover of a hometown musicians latest album. The grand opening of a restaurant in Fall River, Massachusetts, this week will feature iced coffee from locally-owned New York Bagel Co. and music from Mayson Branco, a TikTok star and DJ raised in the town. The result is a place that feels like a neighborhood jointKumaran says customers typically visit two to three times a monthwith the revenue of a national chain: Raising Canes says its average unit volume (AUV), an industry metric that represents average sales per restaurant, is $6.6 million, second only to rival cult brand Chick-fil-A, which reportedly boasts an AUV of $7.5 million across all its domestic locations. That local feel extends to the structure of the company. Small clusters of restaurants have their own directors of marketing, training, recruiting, employee relations, and operations and facilities based in the area. We dont have a corporate office; we have a support office, Kumaran says. Within this company of 950 restaurants, were running about 200 or 250 small companies. Raising Canes also requires its restaurant leaders to live in the communities where they work. Coincidentally, Chick-fil-A operators are expected to do the same. Scale, but stay cool The challenge for Raising Canes, which was started in 1996 by founder and owner Todd Graves (and named for Gravess yellow Labrador retriever), is to maintain its cult-brand status as it expands. The company, which owns and operates almost all of its nearly 1,000 restaurants, aspires to reach $10 billion in sales with average unit volumes of $8 million by the end of the decade. Still, scale and fandom dont have to be at odds with each other. Grocery chain Trader Joes, so beloved that consumers camped out to buy its shopping bags, reportedly has annual sales of about $17 billion. Luxury fashion house Herms, one of the most obsessed-over brands in the world, last year reported more than $16 billion in revenue. And building community isnt just for consumer brands. Two years ago, I attended a user conference hosted by HubSpot, the maker of marketing, sales, and customer service software, and saw how the company fostered a sense of kinship through meetups and a dedicated space for Black and Latino customers. Ill be watching to see if Canva, the design software company, can maintain its earnest DIY vibe as it expands from the consumer space to serving enterprise customers. As co-CEO, Kumaran says he feels the need to earn his customers loyalty with every single meal. Its not easy, he says. It takes a relentless amount of effort, hard work, focus, and energy. How does your business court fandom? Does your company have hard-core fans? How did you nurture love for your brandand how do you make sure that it endures? Send your stories to me at stephaniemehta@mansueto.com. Id love to dedicate a future newsletter to advice on wooing and winning dedicated customers. Read and watch more: cult brands Does Trader Joes deserve its cult-like following? Inside the evolution of Chick-fil-A How Glossier got its glow back
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E-Commerce
A serious concussion four years ago made me more susceptible to future head injuries. Sure enough, a simple bump this winter left me in a months-long funk. My neurologist explained that my nervous system was stuck in an endless cycle of stimulus, unable to move out of fight-or-flight and into the mode of calm, strategic thinking required for recovery. Learning how to consciously switch between these two states, known as the sympathetic and parasympathetic nervous systems, was key to my recuperation and an unexpected masterclass in adaptive organizational leadership. In todays turbulence, many CEOs are experiencing a version of this neurological trap. Bombarded by geopolitical shocks, disruption from artificial intelligence, and demographic upheaval, many leaders and their teams are stuck in crisis mode. Because they are constantly addressing short-term emergencies, they dont always have time to access the rest-and-digest mode required for imperatives like long-term workforce development. This insight from my concussion is changing not only how I help manage my global consulting firms think tank, the Oliver Wyman Forum, but also how I help advise Oliver Wymans corporate clients on creating and implementing workforce strategies. Of course CEOs must address current emergenciesbut they can simultaneously build for the future. At the macro/strategic level, they can create cultures of connection and embrace the principles of emotional intelligence. At the micro/tactical level, they can commit to developing tomorrows leaders via initiatives like reverse mentoring and shadow boards. The key: making time for these efforts even when crises crop up. Prisoners of the moment If some CEOs innate leadership reflexes are failing, its because they arent designed for an era of permacrisis. Todays economic unknowns are near historic levels: Uncertainty right now is comparable to the early days of the COVID-19 pandemic, according to the Federal Reserve. As a result, 43% of CEOs say they are focusing on projects with a time horizon of less than a year, according to a recent survey of CEOs of New York Stock Exchange-listed companies by the Oliver Wyman Forum and the NYSE. Fixating on the short-term can erode confidence among employees. Globally, only 9% of nonmanagerial white-collar employees say they are extremely confident in the ability of their senior leaders to drive growth, and only 19% of employees say they can build a meaningful career at their current company, our surveys show. A deep pool of academic research shows that companies that retain young talent and prioritize development outperform others over the long term in terms of innovation, profitability, and productivity. Likewise, our surveys show that when employees understand the why and see consistent leadership behavior, theyre 163% more likely to envision themselves staying at their companies. So how can CEOs master their personal dimmer switch between crisis mode and company building? Create cultures of connectionand double down on EQ Sure, the troops can rally in the short term. But a constant state of permacrisis and dissatisfaction doesnt maximize human potential over the long haul. Our surveys show that only one in five employees are satisfied with their company’s leadership, and less than a quarter feel leadership understands the challenges lower-level employees face. If left to fester, such feelings can lead to attrition. Half of employees we surveyed said they have quit a job to get away from a manager, and only 47% say their current manager understands their skills, interests, and gaps. People don’t quit companies; they quit the experience of being undervalued and misunderstood. Ironically, personal connection is especially critical in the age of artificial intelligence. Companies might want to go all in on technology, but Generation Z, the cohort of people born between 1997 and 2012, demands emotional intelligence as well. Our surveys show that Gen Zers rank EQ as the second most important leadership trait (54%), after strong communication skills (60%). Microsoft is an example of a culture marked by emotional intelligence, connection, and sense of purpose. Chief Executive Satya Nadella models qualities essential in todays workforce, such as learning fast, collaborating, and doubling down with confidence. He has also pushed for greater empathy and more active listening, encouraging employees to work together, learn from one another as well as from customers, and embrace different perspectives. The result: better morale, increased innovation, and a growth mindsettraits that pay dividends over the long term. Build tomorrows leaders today One way to show workers they are valued is via targeted leadership development. Some companies have cracked this code by implementing effective mentoring programs for employees of all levels. Others include reverse mentoring, in which younger employees teach experienced leaders. One technology company, for example, has a suite of mentoring programs including one in which younger employees teach managers about digital technology and cultural trends. These programs shortened the time between promotions by 25% and lowered turnover to 0.7%, compared with 2.2% for non-mentored employees. Leaders also can build tomorrows leaders by creating shadow boards, in which young employees advise senior leaders, offering fresh perspectives and customer insights. Shadow boards serve as alerting mechanisms for cultural shifts and opportunities that traditional leadership hierarchies might missand make their contributors feel heard. Always be toggling Its human instinct to barrel ahead, especially during a crisis. But just as I have adjusted my screen time and learned other techniques to recover from my concussion, leaders today need to learn how to toggle between sympathetic urgency and parasympathetic strategy. The key isn’t to choose between crisis response and strategic thinkingit’s mastering the ability to consciously shift between them, to heal and grow, to go slow and fast, all at once.
Category:
E-Commerce
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