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Stories 1 - 20 |
Retailers: Theft Is Killing
Our Bottom Lines
Aug 25, 2023 8:23 AM CDT
Retailers: Theft Is Killing Our Bottom Lines
Target expects to lose up to $1B this year due to 'shrink,' also taking a toll on Dollar Tree, Kohl's
- Dollar Tree is the latest company to partly blame theft for plunging profits. The company's gross profit margin fell to 29.8% last quarter from 32.7% a year earlier, CEO Richard Dreiling and CFO Jeffrey Davis told Wall Street analysts on Thursday, per CNN . They attributed much of...
Gap Resort to
'Pack and Hold'
Aug 31, 2022 9:55 AM CDT
Teeming With Inventory, Kohl's, Gap Resort to 'Pack and Hold'
Clothing retailers are tapping into unusual strategies amid an inventory glut
- As summer tilts toward autumn, major clothing retailers have found themselves with a massive glut of inventory, forcing many chains to make tough choices. Per CNN, discounts and promotions are the usual strategies for clearing excess goods, but that's not good enough for Kohl's and the Gap. Both...
Again, and It's High Tech
Jan 20, 2022 11:42 AM CST
Amazon Goes Brick-and-Mortar Again, and It's High Tech
Doors will open at the Amazon Style apparel store in Glendale, Calif., later this year
- Amazon is the nation's No. 1 apparel retailer , but it has apparently decided that online sales aren't enough. CNBC reports the e-commerce giant will be opening a clothing store (as in one you can actually walk into) in a Los Angeles suburb later this year. Amazon Style will...
Toys 'R' Us Is Returning
in a 'Massive Way'
Dec 2, 2021 8:58 AM CST
Toys 'R' Us Is Returning in a 'Massive Way'
Huge new store will open in New Jersey mall
- Toys 'R' Us is planning to open a massive new store, which will bring its total number of standalone locations in the US to one. Parent company WHP Global says the 20,000 square foot store at the American Dream mall in New Jersey, set to open in mid-December,...
Forced It to Close
Oct 14, 2021 10:10 AM CDT
Walgreens Says Shoplifting Has Forced It to Close SF Stores
5 more outlets in city will close next month
- Walgreens says it's closing five more of its stores in San Francisco because of "organized retail crime," bringing the number of closures in recent years to 22—almost a third of its stores in the city. The chain says its San Francisco stores have been targeted by...
As Competition for Workers
Heats Up, Target Offers
Aug 4, 2021 6:20 PM CDT
As Competition for Workers Heats Up, Target Offers Debt-Free Education
Company says it will cover entire cost of 250 business-related programs
- With competition for retail workers heating up, Target has joined a growing number of employers, including rival Walmart , offering free college tuition. The retail giant says it plans to invest $200 million over the next four years in a program to offer " debt-free undergraduate degrees " and free textbooks,...
There's a New Retail
'Crisis' Affecting Costco
in case you missed it
Mar 14, 2021 2:50 PM CDT
There's a New Retail 'Crisis' Affecting Costco
Imports delayed over apparent lack of shipping containers
- There's a reason your local Costco may look barer than usual. Delays at ports are affecting supplies of imported goods, and imported cheeses in particular,
reports. During an earnings call last week, CFO Richard Galanti explained Costco was seeing limited supplies of cheese, seafood, olive oil, furniture,...
It's Bankruptcy Time
Nov 22, 2020 1:00 PM CST
Guitar Center: It's Bankruptcy Time
The nation's biggest musical instrument retailer files for Chapter 11
- The Guitar Center filed for Chapter 11 bankruptcy Saturday as yet another US retailer revealed its pandemic financial woes, Reuters reports. In a bankruptcy filing , the 61-year-old company said it plans to stay afloat with up to $165 million in fresh equity investments and a debt reduction of nearly $800...
'Exhausted' Retailers See Some
Record-Setting Good News
Jun 16, 2020 8:37 AM CDT
'Exhausted' Retailers See Some Record-Setting Good News
US retail sales jumped 17.7% from April to May, but retailers aren't out of the woods yet
- US retail sales jumped by a record 17.7% from April to May, with spending partially rebounding after the coronavirus had shut down businesses, flattened the economy, and paralyzed consumers during the previous two months. The Commerce Department's report Tuesday showed retail sales have retraced some of the record-setting...
Walmart Stats Present
a Snapshot of Pandemic
May 19, 2020 10:15 AM CDT
Walmart Stats Present a Snapshot of Pandemic
Sales surged, especially online, as Americans stocked up
- The pandemic has brought financial ruin to some retailers . Not so with Walmart, whose sales boomed in the quarter that ended May 1, reports CNBC . Overall, same-store sales were up 10%, but the details show how the coronavirus radically altered shopping patterns. For one thing, online sales rose a staggering...
First Big Retailer to Fail
From Virus Files for Bankruptcy
May 4, 2020 6:03 AM CDT
First Big Retailer to Fail From Virus Files for Bankruptcy
J. Crew was already struggling even before the pandemic
- J. Crew was having a tough time even before the pandemic arrived. Now, the
New York Times
says it's the "first major retailer to fall" from the virus, seeking bankruptcy protection to try to stay alive. On Monday, the clothing retailer's parent company, Chinos Holdings, filed to...
House Panel Demands
Bezos Himself Come Testify
May 1, 2020 2:23 PM CDT
House Panel Demands Bezos Himself Come Testify
Judiciary Committee investigating whether Amazon is cheating its own sellers
- A recent
Wall Street Journal
investigation discovered Amazon.com workers had used proprietary data from independent sellers on the site to boost its own competing products, and that probe has now spurred a call to Jeff Bezos himself to appear on Capitol Hill. The
reports that the company's...
Macy's to Reopen Dozens
of Stores, With Changes
Apr 30, 2020 9:45 AM CDT
Macy's to Reopen Dozens of Stores, With Changes
Temperature checks, masks for workers will now be part of the work environment
- Dozens of Macy's stores, closed since March 18, are set to reopen Monday. The company plans to have 68 of its 775 department stores reopened by the start of next week, with limited hours of 11am to 7pm. These are in states that have loosened restrictions. A quarter of...
Things Are About
Apr 29, 2020 5:40 PM CDT
Costco Shoppers, Things Are About to Change
The retail giant wants you to cover your face inside stores
- Costco shoppers, gear up for Monday. That's when the retail giant will begin requiring workers and shoppers to wear masks or face coverings,
reports. "The use of a mask or face covering should not be seen as a substitute for social distancing," the company says...
Ikea's Main Franchisee
Prepares for Baby Boom
Apr 21, 2020 10:40 AM CDT
Ikea's Main Franchisee Prepares for Baby Boom
Ingka aims to reopen European stores in May
- Ikea's main franchisee has reopened all but one of its stores in China, and next month it plans to welcome crowds back to its European stores, too. Ingka Group—the world's largest furniture retailer, operating 420 Ikea stores around the world—aims to reopen stores in Europe in...
Dead at 89
Feb 29, 2020 6:30 AM CST
Trader Joe's Founder Dead at 89
Joe Coulombe, who started quirky grocery store chain, died after a long illness
- Joe Coulombe, the "Joe" behind the Trader Joe's name, died Friday at the age of 89 at his home in Pasadena, Calif. His son Joseph confirmed his death after a long illness to the
New York Times
Los Angeles Times
. Coulombe had been the owner of a...
First-of-Its-Kind Amazon Store
Is Missing One Key Thing
Feb 25, 2020 9:09 AM CST
First-of-Its-Kind Amazon Store Is Missing One Key Thing
You won't find cashiers at the Amazon Go Grocery store opening in Seattle
- Tuesday's likely to be a big day in Seattle's Capitol Hill district, where Reuters reports that the first Amazon Go Grocery store is opening, with just one thing missing: cashiers. Customers simply walk into the 10,400-square-foot site—smaller than the 40,000 square feet or so found...
Time and a Half for Working
Thanksgiving? Not at Walmart
Nov 27, 2019 9:40 AM CST
Time and a Half for Working Thanksgiving? Not at Walmart
Employees will get modest store discount instead for working shifts this holiday weekend
- Walmart will be operating at regular hours this Thanksgiving and Black Friday, but unlike retailers Target and Amazon, it won't be offering employees paid time and a half. In fact, as the
reports, Walmart workers won't get any extra pay. Instead, they'll receive a 10% discount...
CVS Closes 46 Stores.
See If Yours Is On the List
May 3, 2019 10:30 AM CDT
CVS Closes 46 Stores. See If Yours Is On the List
46 stores closed nationwide in April
- CVS Health has closed 46 "underperforming" stores, or fewer than 1% of some 9,600 locations nationwide, as it shifts its retail strategy. Taking a $135 million hit, CVS initiated the closures in April under a plan to reduce floor space for retail products and embrace more health care...
Victoria's Secret Is
Closing a Lot of Stores
Mar 1, 2019 11:51 AM CST
Victoria's Secret Is Closing a Lot of Stores
More than 50 locations will be shuttered as brand competes with big-box retailers, startups
- Victoria's Secret has seemingly been operating under the "if it ain't broke, don't fix it" mantra, which for its specific purposes meant continuing to promote its brand through a long-successful campaign of celebrity supermodels and pushup bras. Except now it appears that business model may be...
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