Pros
Depending on the category, there are occasional comp shopping trips that can be very inspiring. If you haven't traveled overseas yet in your career, there's regular trips to China for hands on experience (after awhile this can become a negative to most people). The benefits are okay, about the same as most corporate companies in DFW. The work-life balance is good, there's not a whole lot of after hours or weekends. There are occasional events that require a Saturday or Sunday's work but they aren't frequent enough to be a problem.
Cons
The re-structuring of the product development process was a terrible move. The buyers have all the control and the product brand managers think they're designers and basically tell the designers what to do. As a product designer, you will basically be reduced to slapping pictures on a page and calling it a 'style guide'. Unfortunately those pictures are ones the buyer and PBM tell you to use. Designers are basically production artists and art directors to China, without the title of Art Director. The management is useless and they don't appreciate, respect, or foster true talent. The culture is very negative in the sense that you won't get ahead by actual skills, talent, and/or hand work; it's basically a competition of who can 'play the game' and kiss the most behind. They've isolated the passionate designers that actually have the experience and skills to be great leaders but because they're not doing the 'look at me' routine, they aren't 'engaged enough'.