Tag Archives: retail

No Santa This Year At Macy’s Flagship Manhattan Store

The New York Daily News reports: Santa Claus is not coming to town this year. Macy’s announced Thursday that jolly o’ Saint Nick wouldn’t be making the trip to its flagship location in Manhattan this holiday season, thanks to the coronavirus pandemic. The company said it would be impossible to have visitors socially distance, given that over a quarter million …

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Iconic NYC Retailer Century 21 To Shutter All Locations

The New York Daily News reports: Lower Manhattan retail mecca Century 21, after surviving the 9/11 attacks across the street, couldn’t outlast COVID-19. The retail company is closing its flagship location on Cortlandt St. and its 12 other stores after filing for bankruptcy protection in Manhattan, according to a statement released Thursday. The Manhattan location opened 59 years ago, with …

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Hedge Fund Founder Charged In Neiman Bankruptcy

Just in from Justice Department: Audrey Strauss, the Acting United States Attorney for the Southern District of New York, and William F. Sweeney Jr., the Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced today that DANIEL KAMENSKY, the founder and manager of New York-based hedge fund Marble Ridge Capital (“Marble Ridge”), was …

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Old Navy To Pay Employees To Serve As Poll Workers

Business Insider reports: With Election Day on the horizon, many companies are giving their employees the day off to vote. But Old Navy is taking a different approach to get employees involved in the democratic process. The retailer announced on Tuesday that it will pay store employees for eight hours who serve as poll workers for the 2020 election. The …

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Payless To Relaunch With Hundreds Of Stores [VIDEO]

USA Today reports: Payless is back in time for the new school year with a new website, a new name and plans for hundreds of bricks-and-mortar stores. After emerging from bankruptcy for the second time in January 2020 and shuttering its remaining U.S. stores in June 2019, the footwear retailer’s new website is live at Payless.com. The company announced in …

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Stein Mart Files For Bankruptcy, Will Close Most Stores

CNBC reports: The off-price chain Stein Mart announced Wednesday it has filed for Chapter 11 bankruptcy protection and plans to permanently close most, if not all, of its stores, adding to the turmoil in a retail industry that has been hammered by the coronavirus pandemic. The Jacksonville, Florida-based company said in a press release that it has already launched a …

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Amazon Eyes Empty Mall Spaces As Fulfillment Centers

The Verge reports: Amazon has had talks with Simon Property Group about converting some of its mall spaces into fulfillment centers. The conversations started before the coronavirus pandemic, and before the latest wave of bankruptcy filings by mall stalwarts like Lord & Taylor, JCPenney, and Nieman Marcus. It’s a bit of an on-the-nose example of how e-commerce is overtaking the …

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Lord & Taylor, Men’s Wearhouse Declare Bankruptcy

CNBC reports: Lord & Taylor, one of America’s oldest department stores, has filed for bankruptcy, joining a growing list of stores slammed by the coronavirus pandemic. Tailored Brands, the parent company of Men’s Wearhouse and Jos. A. Banks, filed for bankruptcy as well. Many of the companies that have filed for Chapter 11 in recent weeks were already struggling, but …

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CVS And Target To Require Face Masks In All Stores

CNN Business reports: CVS and Target will require customers to wear masks in their stores across the United States as the retail industry moves to enforce mask mandates to slow the spread of the coronavirus. “We’re joining others in taking the next step and requiring all customers to wear face coverings,” CVS tweeted Thursday. The policy goes into effect Monday. …

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Walmart, Sam’s Club To Require Masks At All Stores

CNBC reports: Walmart and Sam’s Club customers will soon be required to put on a mask or face covering before shopping in stores. The big-box retailer announced the new policy Wednesday and said it will take effect July 20. It said the majority of its approximately 5,000 stores and clubs — about 65% — are in areas where there’s already …

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Iconic Clothier Brooks Brothers Files For Bankruptcy

CNBC reports: The coronavirus pandemic has now claimed one of the country’s oldest and most prestigious retailers. Brooks Brothers — pioneer of the polo and uniform of the polished prepster — filed for bankruptcy on Wednesday, as it continues to search for a buyer. The retailer, which is more than two centuries old, boasts of having dressed 40 U.S. presidents …

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25,000 Retail Stores Forecast To Close Permanently

CNN reports: As many as 25,000 retail stores in the United States are expected to permanently close this year as consumer demand for discretionary items stalls and more people shift to online shopping, according to a firm that tracks the industry. So far in 2020, more than 4,000 stores have said they will permanently close, according to a report released …

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Saks Wraps Flagship Manhattan Store In Razor Wire

The New York Post reports: Saks Fifth Avenue surrounded its flagship Manhattan store with razor wire on Tuesday to keep thieves from smashing their way in and making off with troves of expensive merchandise, The Post has learned. The luxury retailer has also hired private security guards with specially trained dogs to protect the premises in the wake of Monday …

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Apple To Open About 100 Stores In US This Week

NBC News reports: Apple plans to open approximately 100 stores in the United States this week, a company representative told CNBC. In total, about 130 out of 271 Apple Stores in the United States will be open by the end of the week. Apple operates 510 stores around the world. Apple’s retail openings are being closely watched as both a …

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Victoria’s Secret To Permanently Shutter 250 Stores

ABC News reports: Victoria’s Secret is closing 250 stores in shopping centers, malls and other locations in the U.S. and Canada. This news comes as the lingerie giant continues to see a plummet in sales during the coronavirus pandemic. With these closures, the brand’s parent company, L Brands, will eliminate 22% of the company’s 1,091 stores in addition to 1.26 …

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Pier 1 Imports To Liquidate All Remaining Stores

The New York Post reports: Pier 1 Imports is calling it quits. The bankrupt home-goods retailer has asked a court for permission to liquidate its remaining 540 stores once they reopen, ending a 58-year legacy of selling colorful glassware, wicker furniture and other home decor. “This is not the outcome we expected or hoped to achieve,” Robert Riesbeck, Pier 1’s …

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Apple Stores To Require Temperature Check To Enter

The Washington Post reports: Apple’s retail stores are known for crowded areas of display devices ready for experimenting and the ability to make a purchase without needing to line up at a cash register. But as the Cupertino, Calif.-based tech giant reopens about 100 of its retail stores globally, the customer experience is bound to feel different. Apple will be …

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J.C. Penney Files For Chapter 11 Bankruptcy Protection

CNBC reports: J.C. Penney, weighed down by debt and battered by the coronavirus, has filed for bankruptcy. Sales at J.C Penney have fallen annually since 2016. Its roughly 860-store footprint is less than a quarter of its store base in 2001. The company’s nearly $11 billion in sales for the last fiscal year are almost a third of its sales …

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Neiman Marcus Files Chapter 11 Bankruptcy Protection

The Dallas Morning News reports: The first high-profile retail casualty of the global coronavirus pandemic is a 113-year-old luxury retailer that put Dallas on the world’s fashion map. Neiman Marcus said it will shed $4 billion of its debt in the bankruptcy reorganization filed Thursday in U.S. bankruptcy court in Houston. The company said it plans to emerge from bankruptcy …

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Apparel Sellers Change Fitting Rooms Due To COVID

The New York Post reports: In an effort to protect customers from the coronavirus, some clothing retailers have decided to sequester clothes that have been tried on in a fitting room. Saks Fifth Avenue aims to take its clothing out of commission for 48 hours after being tried on, according to a spokeswoman. Macy’s is planning to quarantine its apparel …

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