Tag Archives: retail

CNN Business reports: The Container Store’s future is in jeopardy. A weak housing market and steep competition have squeezed the chain. The Container Store, which first began in 1978 and has grown to around 100 US locations, now faces a critical holiday shopping season to save it from bankruptcy. Credit rating agencies rank the Container Store as one of the …

The Associated Press reports: North Carolina-based Advance Auto Parts said Thursday that it would be reducing its U.S. footprint as part of a “strategic plan to improve business performance.” The company said it is shuttering a total of 523 of its Advance corporate stores, as well as four distribution centers, and exiting 204 independent locations by the middle of next …

NBC News reports: Walgreens said Tuesday it plans to close 1,200 stores over the next three years as it seeks to further downsize its footprint amid flagging sales and changing consumer behavior. The pharmacy chain said 500 of the closings would occur over the next 12 months. It estimates a quarter of its 8,700 stores in the U.S. are unprofitable. …

Bloomberg Business reports: Discount retailer Big Lots Inc. has filed for bankruptcy protection and plans to sell the firm’s assets and ongoing business in a court-supervised process. The Columbus, Ohio-based company said it filed for Chapter 11 bankruptcy in Delaware, according to a company statement. It listed assets and liabilities of $1 billion to $10 billion in its court petition. …

NBC News reports: Target will soon stop accepting personal checks as a form of payment at checkout. In a statement to NBC News, the retail giant said it was committed to creating an easy and convenient checkout experience — but that due to “extremely low volumes,” it would no longer take personal checks starting July 15. It said it has …

The New York Times reports: In a move that will further consolidate the luxury retail market, the parent company of Saks Fifth Avenue has agreed to acquire Neiman Marcus in a $2.65 billion deal, creating the ultimate high-end department store behemoth. The deal, which had been rumored since Neiman Marcus filed for bankruptcy protection during the pandemic, comes just over …

CNN Business reports: Walgreens is set to close a substantial number of its roughly 8,600 locations across the United States as the company looks to reset the struggling pharmaceutical chain’s business. The company didn’t announce a specific number of store closures, but it said Thursday that it is planning “significant” closures of underperforming stores across America as part of a …

CNBC reports: Milwaukee based department store giant Kohl’s says it will not sponsor any events related to the Republican National Convention in that city this summer, where Donald Trump will be crowned the party’s nominee for president. “Kohl’s is not a political organization nor donor and is not sponsoring nor engaging in any specific RNC events,” a spokeswoman for the …

Business Insider reports: Pride this year at Target is shaping up to be a lot smaller, shorter, and quieter than it once was — and there’s a good chance you might not see it at all. Whereas last May, Target’s Pride collection featured more than 2,000 items online, this year’s assortment consists of several dozen items — fewer than 75 …

Bloomberg News reports: Target Corp. won’t sell LGBTQ-themed merchandise in some stores during Pride Month in June, after a backlash dented revenue last year. Target faced threats from some customers last year over its Pride merchandise. The Minneapolis-based retailer plans to offer the full assortment online but is considering store-level data to decide which physical locations will carry the products, …

The Sacramento Bee reports: California grocery and drug stores would be prohibited from operating self-service checkout stations without adequate staffing, under a proposed law being considered in Sacramento. The bill is being championed by organized labor and opposed by business groups. Under Senate Bill 1446, by Sen. Lola Smallwood-Cuevas, D-Los Angeles, grocery and drug stores would be required to provide …

The Associated Press reports: Express Inc — once a trendsetter of casual office attire that has struggled to compete with the likes of Zara and H&M — has filed for Chapter 11 bankruptcy protection. The retailer based in Columbus, Ohio also said Monday it is seeking to sell the majority of its stores. In an announcement addressing its bankruptcy filing, …

CNN Business reports: Some people go to Costco for its $1.50 hot dogs, others for its $179 Ozempic prescriptions. The warehouse retailer is now offering its US members access to prescriptions for GLP-1 weight loss drugs through its low-cost health care partner Sesame. Costco first partnered with Sesame, a direct-to-consumer health care marketplace that connects medical providers nationwide with consumers, …

Ars Technica reports: Amazon is giving up on the cashier-less “Just Walk Out” technology at its Amazon Fresh grocery stores. The Information reports that new stores will be built without computer-vision-powered surveillance technology, and “the majority” of existing stores will have the tech removed. In the early days, Amazon’s ambitions included selling Just Walk Out to other brick-and-mortar stores. The …

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, …

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. …

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, …

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 …

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 …

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 …