Tag Archives: retail

The New York Times reports: The aisles and aisles of empty store shelves give the appearance that the United States, improbably and alarmingly, is running out of food. But the nation’s biggest retailers, dairy farmers and meat producers say that isn’t so. The food supply chain, they say, remains intact and has been ramping up to meet the unprecedented stockpiling …

ABC News reports: Modell’s Sporting Goods, the century-old family-owned sporting goods chain, has filed for Chapter 11 bankruptcy and will be closing its remaining 115 stores. It becomes the latest traditional retailer to succumb to a fast-changing environment. In recent years Payless ShoeSource Corp., Toys R Us and children’s chain Gymboree have filed for Chapter 11 reorganization or liquidated their …

The Metro reports: Authorities in Italy have announced that all stores except pharmacies and food outlets will close in response to the country’s coronavirus outbreak. So-far, 827 people have died from Covid-19 inside Italy, whereas 12,462 have been infected with the virus in the country. Today Prime Minister Giuseppe Conte thanked the public for cooperating with the already unprecedented travel …

CNN Business reports: Rationing supplies. Overwhelmed delivery workers. Toilet paper protected by security guards. This is the new reality for some retailers that are having to take drastic action to limit the number of toilet paper rolls, face masks and hand sanitizer bottles each person can buy as customers stockpile goods over fears of the novel coronavirus outbreak. The epidemic …

Bloomberg reports: Pier 1 Imports Inc. filed for Chapter 11 bankruptcy protection to facilitate a company sale after the retailer of eclectic home furnishings found itself squeezed by online rivals and crushed under too much debt. The Fort Worth, Texas-based retailer is in talks with multiple potential buyers, according to a statement Monday. Pier 1 also reiterated a plan to …

The Wall Street Journal reports: Macy’s Inc. plans to close 125 department stores over the next three years, an admission that a fifth of its locations cannot thrive as shoppers buy more online and make fewer trips to malls. The company is also cutting about 2000 corporate jobs and closing several offices. It will abandon a dual national headquarters location …

Eater New York reports: NYC restaurants and stores not accepting cash will soon be a thing of the past. The New York City Council is finally set to pass a bill later today that will prohibit all city businesses from refusing cash payments from its customers. NYC businesses that go cashless “effectively discriminate against customers who lack access to credit …

The New York Post reports: Legendary Big Apple grocer Fairway Market is getting ready to call it quits, The Post has learned. The New York City chain — known for its wide selection of cheeses and cheap produce — is planning to file for a Chapter 7 bankruptcy, which means the grocery chain does not currently have a plan to …

CNBC reports: Technology giant Amazon is working to allow customers to connect their credit card information to their hands, so that they can scan for purchases with their palms at checkout areas in physical stores. While Amazon’s plan is in the early stages, the company has reportedly begun working with Visa on testing out the terminals, and has discussed the …

Business Insider reports: Macy’s is closing 30 stores in early 2020. In 2016, Macy’s said it would close 100 stores after it reported six consecutive years of declining sales. Since then, it has been closing these locations as their leases expire. A representative for the company did not comment on whether this recent wave of closures was included in the …

The Associated Press reports: U.S. retailers including Walmart Inc will add “Do Not Sell My Info” links to their websites and signage in stores starting Jan. 1, allowing California shoppers to understand for the first time what personal and other data the retailers collect, sources said. Large U.S retailers are rushing to comply with a new law, the California Consumer …

Bloomberg News reports: Holiday shopping set records over the weekend, with Super Saturday sales reaching $34.4 billion, the biggest single day in U.S. retail history, according to Customer Growth Partners. “Paced by the ‘Big Four’ mega-retailers — Walmart, Amazon, Costco and Target — Super Saturday was boosted by the best traffic our team has seen in years,” said Craig Johnson, …

The Tampa Bay Times reports: Publix is joining the growing list of stores requesting that customers not openly carry guns in states where it is legal to do so. “Publix respectfully requests that only law enforcement officials openly carry firearms in our stores,” Publix said in a statement to ABC affiliate WPLG . Although Florida is not an open-carry state, …

CNN reports: Five retailers have announced this week that they will start asking customers not to openly carry guns into their stores in states where open carry is legal. The moves represent a major shift in the way retailers are positioning themselves in the gun debate. Walgreens, CVS, and Wegmans announced the new policy Thursday afternoon, following announcements from Walmart …

CBS News reports: When publicly listed companies disclose risks for shareholders in their filings with the Securities and Exchange Commission, they typically cite business factors such as potential economic downturns, labor costs and currency fluctuations. But a new threat is starting to appear in annual earnings reports: The danger of getting shot. The Cheesecake Factory and Dave & Buster’s Entertainment …

CNBC reports: Barneys New York, an icon of New York retail, filed for bankruptcy early Tuesday morning, with a plan to significantly reduce its footprint, as it looks for a buyer to stave off liquidation. The retailer said it will focus on running only 5 of its more than 10 namesake stores: on New York’s Madison Avenue, in downtown Manhattan, …

Religion News Service reports: A popular Christian bookseller is changing its name after a deluge of requests for cannabis-related products. For years, Peabody, Massachusetts-based Christian Book Distributors has been known by the initials CBD. The bookseller announced last month it will now go by “Christianbook” to avoid confusion with cannabidiol, an increasingly popular cannabis-derived product that shares its initials. “The …

The New York Times reports: It says volumes about the challenges facing brick-and-mortar stores that the “single biggest initiative” out of Kohl’s this year, according to the national retailer’s chief executive, is that it will now accept and process unwanted orders from Amazon. Kohl’s said on Monday that it was now accepting Amazon returns at its more than 1,100 stores …

USA Today reports: Amid a global helium shortage, Party City announced Thursday it will shutter 45 stores in 2019. The New Jersey-based party supplies company did not release a list of affected stores but said the closures will take place throughout the year. Party City said it is working to secure a new helium source and a contract, which is …

The Daily Beast reports: Sweetgreen will begin accepting cash again at all 94 of its nationwide locations by September 30, Bloomberg reports. The popular fast-casual salad chain stopped accepting cash in 2016, a decision that was met with criticism. Critics argue that cashless businesses discriminate against customers who might not have access to lines of credit or mobile payment apps. …