Tag Archives: retail

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. …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

Axios reports: In a worldwide push called “Sunrise 2027,” the retail industry is transitioning from the standard 12-digit barcode — that square of vertical lines that’s printed on a package and makes it go “beep” at the checkout scanner — to a two-dimensional web-enabled version. The effort is being orchestrated by GS1 US, the nonprofit standards organization that oversees the …

New York City’s CW affiliate reports: Customers should be required to show their faces before being allowed into businesses, NYPD officials urged on Tuesday. Removing a mask and allowing identification can be a “condition of entry,” NYPD Chief of Department Jeffrey Maddrey said. Businesses can then allow people to put masks back on after they’ve shown their face. “We’re seeing …

Reuters reports: A federal judge in Chicago has dismissed a proposed class action lawsuit accusing Walmart of deceiving shoppers by selling Fudge Mint cookies that lacked fudge and mint. In a decision on Tuesday, U.S. District Judge Mary Rowland said no cases showed that consumers expect “fudge” to contain milkfat. The judge likened the case to lawsuits where courts found …

ABC News reports: Bed Bath & Beyond told Nexstar Monday that it will be closing 87 additional stores, an announcement that comes days after the beleaguered home goods chain said it had defaulted on its loans. Bed Bath & Beyond said the closures are being done to increase efficiency as the company works with advisors to “consider multiple paths” as …

CNN Business reports: Party City filed for bankruptcy protection Tuesday after years of losses and weak sales. The largest party goods and Halloween specialty retail chain in the United States said in a regulatory filing that it reached an agreement with debtholders to cut its $1.7 billion debt load. The company said it secured $150 million in financing that will …

The New York Times reports: Bed Bath & Beyond, the beleaguered home goods retailer, warned investors on Thursday about the darkening prospects for its future, saying that bankruptcy was a possible option. The company reported preliminary earnings, noting lower sales and slower foot traffic compared to the prior year. The company said its sales were about $1.3 billion for the …

Politico reports: Ill-fated hopes that a Democratic-controlled Washington might loosen decades-old restrictions on the drug have given way to a market glut and plummeting prices that have put scores of businesses at risk of collapse. In Colorado, prices have dropped by 51 percent over the last two years. The price of a pound of weed has plunged by 36 percent …

CNN Business reports: Sears Hometown Stores Inc., a franchise-owned unit of Sears, has filed for Chapter 11 bankruptcy protection. Sears spun off Sears Hometown in 2012 to give the parent company a much-needed infusion of cash. The average Sears Hometown store is only 8,000 to 10,000 square feet, a fraction of the size of the average full Sears, which is …

Boston’s ABC affiliate reports: One person was killed, and sixteen other victims were transported by ambulance to nearby hospitals after an SUV crashed into the Apple store at the Hingham Derby Street Shops just before 11 a.m. on Monday. Video from Sky 5 showed a large hole in the glass front of the store. There were multiple people on the …

Gothamist reports: Sean “Diddy” Combs is jumping into New York’s cannabis industry with a $185 million deal — a strong foothold that would also create the largest Black-owned cannabis company in the U.S. Combs is planning to purchase marijuana production facilities and retail shops in multiple states, including New York, from cannabis giants Cresco and Columbia Care, according to an …

The New York Post reports: The chief financial officer of troubled Bed Bath & Beyond has been identified as the man who jumped to his death from the iconic new Tribeca skyscraper known as the “Jenga Building,” The Post has learned. Gustavo Arnal, 52, who was also an executive vice president for the struggling home goods retailer, plunged from the …

Reuters reports: Bed Bath & Beyond Inc on Wednesday said it inked deals for more than $500 million in new financing and that it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business. Investors, however, remain concerned that the retailer’s plan, announced in a strategic update, will do little …