Tag Archives: retail

Targets Takes 10-Item Self-Checkout Limit Nationwide

NBC News reports: Target is set to limit the number of items that can be purchased in its self-checkout lanes to 10 items or fewer. The retail giant said Friday that the change would take effect Sunday at most of its almost 2,000 stores nationwide. Some self-checkout lanes may also close entirely at certain hours depending on foot traffic patterns, …

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Family Dollar Announces Closure Of Nearly 1000 Stores

NBC News reports: The parent company of Family Dollar said it would close approximately 1,000 stores, citing market conditions, store performance and other factors. Shares of Dollar Tree fell as much as 13% in Wednesday trading as the company also posted financial results that missed analysts’ expectations, including a net loss of more than $1.7 billion for the fourth quarter. …

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Feds Fine Family Dollar $41 Million For Rat Infestations

NBC News reports: Family Dollar Stores was this week ordered to pay $41.6 million for using a rodent-infested warehouse to distribute food, cosmetics and medical devices to more than 400 stores across the South. The largest criminal penalty of its kind comes after a U.S. Food and Drug Administration investigation found “live rodents, dead and decaying rodents, rodent feces, urine, …

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Macy’s To Shutter 150 Stores Over Next Three Years

CBS News reports: Macy’s on Tuesday said it plans to close roughly 150 underperforming stores over the next three years, the struggling retailer’s latest effort to energize its business as it seeks to fend off a proposed takeover by activist investors. The department store chain said it plans to focus on expanding its luxury brands, Bloomingdale’s and Bluemercury. Macy’s will …

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New Owners To Drop Name Of Kum & Go Chain

The Drive reports: Gas station and convenience store chain Kum & Go will reportedly rebrand after being bought out in 2023. The new owners are reportedly worried the double entendre in Kum & Go’s name could hurt its business prospects. Established in Iowa in 1959, Kum & Go was acquired by FJ Management’s Maverik chain in April 2023. After blowing …

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New York State To License 500 More Weed Dispensaries

Gothamist reports: New York cannabis officials will be handing out up to 1,445 new business licenses in the coming weeks, including at least 500 for dispensaries. Other licenses will go to marijuana growers, processors, wholesalers and microbusinesses after the application window for licenses closed earlier this month. In this new round, the state is prioritizing businesses that already have leases …

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AP: Billions In Gift Cards Go Unspent Every Year

The Associated Press reports: Gift cards get lost or forgotten, or recipients hang on to them for a special occasion. In a July survey, the consumer finance company Bankrate found that 47% of U.S. adults had at least one unspent gift card or voucher with an average value of $18. That’s a total of $23 billion. Every year, big companies …

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Target Shoppers Fume Over New Self-Checkout Limit

The Messenger reports: Target’s new self-checkout policy has been met with criticism online, as customers complain that the 10-items-or-less limit is creating problems due to the store’s lack of staff. When this new policy was introduced in late November, John Mulligan, chief operations officer at Target, said it was meant to create shorter wait times for customers. However, for some, …

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Rite Aid To Close 154 Stores In Bankruptcy Process

The New York Times reports: On Sunday, Rite Aid, once the largest U.S. pharmacy chain, filed for bankruptcy court protection from its creditors and vowed to remake the company as a “modern neighborhood pharmacy.” Now, in one of its first steps, it says it is closing 154 stores in more than 10 states. The branches set to be shuttered were …

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Rite Aid Declares Bankruptcy Amid Opioid Lawsuits

Reuters reports: Rite Aid filed for Chapter 11 bankruptcy on Sunday, a move that would halt lawsuits the drugstore chain is facing over its alleged role in the U.S. opioid crisis and named a new CEO. Rite Aid said it has received a commitment for $3.45 billion in new financing from some of its lenders, which will provide enough liquidity …

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Best Buy To Soon Stop Selling All Physical Media

The Digital Bits reports: The Digital Bits has learned from industry sources—and we’ve confirmed it with multiple sources now—that Best Buy plans to exit the physical media business for good next year, possibly as soon as the end of Q1 2024. This includes not just their in-store Blu-ray, DVD, and 4K Ultra HD sales, which the retailer has been gradually …

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Netflix To Open “Eat, Shop, And Play” Retail Locations

Bloomberg News reports: Netflix Inc. plans to open new destinations where fans can immerse themselves in the worlds of their favorite TV shows, shop for clothing, eat themed food and maybe even try a Squid Game obstacle course. Dubbed Netflix House, the venues will feature a mix of retail, dining and live experiences, according to Josh Simon, the company’s vice …

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Whole Foods To Roll Out Pay-By-Palm Nationwide

ABC News reports: Amazon is bringing its pay-by-palm technology to Whole Foods stores. The company announced Thursday that its Amazon One palm recognition system will soon be in more than 500 Whole Foods stores by the end of the year. Amazon rolled out the technology in 2020, and it is currently available in more than 200 Whole Foods stores nationwide. …

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Feds: Inflation Declined In June Compared To Last Year

The Washington Post reports: A year after inflation soared to the highest level in four decades, prices are returning closer to normal levels, with families and businesses feeling the difference as policymakers debate how much more to slow the economy. Government data released Wednesday showed a notable drop in inflation: Prices rose 3 percent in June compared with the year …

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Overstock.com To Rebrand As Bed Bath & Beyond

Reuters reports: Overstock.com intends to sunset its company name and rebrand as Bed Bath & Beyond after purchasing that company’s intellectual property assets in bankruptcy, Overstock CEO Jonathan Johnson said on Thursday. Overstock, which chose not to bid on any of Bed Bath & Beyond’s retail locations or inventory, will remain an online-only home goods retailer, combining Overstock’s strengths with …

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Bed Bath & Beyond To Continue Online In Name Only

NBC News reports: Bed Bath & Beyond will live on in name only after Overstock.com won an auction for the failed home goods retailer’s intellectual property and digital assets, according to court records filed early Thursday. The e-commerce discounter, which was selected as the stalking horse bidder for Bed Bath’s bankruptcy-run auction, will buy the chain’s brand name, business data …

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Walmart: We’re Not Removing Any Of Our Pride Merch

Bloomberg News reports: A top Walmart Inc. executive said the retailer remains committed to its Pride Month offerings, even after competitor Target Corp. became embroiled in a controversy over similar products. “We have merchandise that we sell all year that supports different groups,” Walmart Chief Merchandising Officer Latriece Watkins told reporters Wednesday. “In this particular case, we haven’t changed anything …

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Amazon Offers $10 If You Come Pick Up Your Package

Reuters reports: Amazon.com is offering customers $10 to pick up a purchase rather than have it shipped to a home address, as the e-commerce giant joins other retailers in racing to slash costs for home delivery and returns amid slack consumer demand. Amazon over the last few days has emailed an unknown number of Prime subscribers offering them $10 to …

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Bed Bath & Beyond’s Famous Coupons Have Expired

Axios reports: Bed Bath & Beyond coupons that never expire finally expired. Tuesday was the last day to use the iconic blue coupons — which households across the country have stowed away for years — before they are worthless. The company’s gift cards won’t have value for much longer, either. But consumers may still be able to snag deals during …

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Bed Bath & Beyond Files For Bankruptcy Protection

CNBC reports: Bed Bath & Beyond on Sunday filed for Chapter 11 bankruptcy protection after a series of last-ditch efforts to raise enough equity to keep the business alive failed at the eleventh hour. The struggling home goods retailer has been warning of a potential bankruptcy since early January, when it issued a “going concern” notice that it may not …

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