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Keyword: retail

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  • Wal-Mart Reorganizes To Compete With Amazon (Targeting Food Stamp recipients)

    01/14/2017 10:10:15 PM PST · by 2ndDivisionVet · 37 replies
    Korea Portal ^ | January 14, 2017 | Hayden Thomas
    Wal-Mart is reorganizing its e-commerce team and upgrading executives from its recent Jet.com acquisition to compete with Amazon with higher selectivity and lower prices. The changes are aimed at making Wal-Mart more customer-focused, Jet founder Marc Lore, who is now the Executive Chairman of Wal-Mart's e-commerce operation, said on Friday in a memo Bloomberg had access. Wal-Mart bought Jet in September for about $ 3.3 billion and is appealing to the startup to push for an online operation that has lagged behind Amazon. "We've talked a lot about becoming a more customer-centric organization," Lore said. "Our strategy is to offer...
  • Walmart Swings Its Axe Again and Will Now Slash 1,000 Corporate Jobs

    01/11/2017 11:39:27 AM PST · by aquila48 · 27 replies
    The Street ^ | Jan 11, 2017 | Lindsay Rittenhouse
    Walmart (WMT) , the country's largest private employer, plans to eliminate roughly 1,000 corporate jobs as it looks to boost its e-commerce business and trim costs. The jobs, mainly in the human resources department, will be cut before Jan. 31, as a result of increased e-commerce spending and rising employee wages, an anonymous executive told the Wall Street Journal. When contacted by TheStreet, Walmart declined in an email to comment on the job cuts but said the company has "not made any announcements" on its current corporate structure, adding "... we are always looking for ways to operate more efficiently...
  • LL Bean on defensive after Linda Bean’s political donation

    01/10/2017 1:50:58 AM PST · by Jim Noble · 52 replies
    Boston Globe ^ | January 9, 2017 | AP
    L.L. Bean likes to stay out of politics, but a donation by a member of the Bean family is putting the retailer on the defensive. The Maine-based company issued a statement late Sunday after being targeted for boycott for alleged ties to Republican President-elect Donald Trump. The founders of the hashtag #GrabYourWallet included Bean on the list after The Associated Press reported that L.L. Bean’s granddaughter, Linda Bean, contributed $60,000 to a political action committee supporting Trump. The donation exceeded the PAC’s contribution limit...
  • The Limited Is Closing All 250 of Its Stores

    01/09/2017 7:45:26 AM PST · by C19fan · 42 replies
    Fortune ^ | January 9, 2016 | Phil Wahba
    And another bites the dust. Women's apparel chain The Limited on Sunday began closing all 250 of its stores across the United States and is slashing 4,000 jobs, the latest casualty of shopping's move online and the growth of fast fashion chains.
  • Sears, Other Retailers Reel From Gales Of 'Creative Destruction'

    01/09/2017 2:58:45 AM PST · by expat_panama · 92 replies
    Investors Business Daily ^ | 1/05/2017 | TERRY JONES
    Sears. Macy's. Kohl's. Traditional department store retailers have taken hard hits over the Christmas holidays, with sales lagging the generally robust performance of retailers overall. Now, these mall stalwarts are slashing thousands of jobs and hundreds of stores, trying to right-size themselves. It's no coincidence. Sears on Thursday became the latest retailer to announce that it was restructuring... ...Macy's is letting 10,000 people go. And Kohl's warned about its decline in sales over the holidays. Analysts expect Kohl's to announce cuts. A few years back, it was discounter Wal-Mart, the biggest retailer on earth, announcing it was closing 100 stores....
  • Hard Times for Retail Stores: Obama's Fault, not Amazon's

    01/06/2017 1:19:13 PM PST · by jfd1776 · 30 replies
    Illinois Review ^ | January 6, 2017 A.D. | John F. Di Leo
    Reflections on the future of retail… As the new year began, right in the midst of outgoing Resident Barack Obama’s ever-more-urgent pleas for a “legacy,” two announcements hit the news: the family of Sears and K-Mart will close yet another 109 K-Marts and another 41 Sears’ stores in 2017, and Macy’s will close another 68 of theirs. It was to be expected, of course. The analysts say that these stores are of an old breed that hasn’t kept up; they still use brick and mortar, unlike the darlings of the new age of retail, Amazon and Etsy et al, which...
  • Macy's to close stores, cut jobs amid weak sales

    01/04/2017 5:08:21 PM PST · by Olog-hai · 73 replies
    Associated Press ^ | Jan 4, 2017 7:40 PM EST | Sarah Skidmore Sell
    Macy’s says it is eliminating more than 10,000 jobs and plans to move forward with 68 store closures after a disappointing holiday shopping season. The department store chain also lowered its full-year earnings forecast. The retailer said Wednesday that sales at its established stores fell 2.1 percent in November and December compared to the same period last year. Macy’s Inc. pointed to changing consumer behavior and said its performance reflects the challenges that are facing much of the retail industry. As if to underscore that point, Kohl’s Corp. also reported disappointing holiday shopping numbers Wednesday. …
  • The hidden cost of made-in-America retail bargains

    01/03/2017 8:27:44 AM PST · by SeekAndFind · 52 replies
    Washington Post ^ | 01/02/2016 | Chico Harlan
    LOS ANGELES -- He had spent his latest 45-hour workweek hunched over a sewing machine, attaching labels and stitching collars and tightening black and gold blouses that would soon sell at bargain prices at a popular retailer. But now it was Saturday afternoon, paycheck time, when Pedro felt the full sting of that bargain: It was his own salary that helped keep the prices down for consumers. His manager gathered the 30-some workers from their stations in the unmarked brick building and passed out payslips. For the week, he said, he’d been paid $225. Or $5 per hour. “There’s nothing...
  • A giant wave of store closures is about to hit the US

    12/31/2016 12:23:49 PM PST · by TaxPayer2000 · 197 replies
    Business Insider ^ | Dec 31, 2016 | Hayley Peterson
    Retailers are bracing for a fresh wave of store closures at the start of the new year. The industry is heading into 2017 with a glut of store space as shopping continues to shift online and foot traffic to malls declines, according to analysts ~SNIP~Nearly every major department store, including Macy's, Kohl's, Walmart, and Sears, have collectively closed hundreds of stores over the last couple years to try and stem losses from unprofitable stores and the rise of ecommerce. But the closures are far from over. Macy's has already said that it's planning to close 100 stores, or about 15%...
  • President as Product: From roosters to toilets, China embraces Trump as a retail phenom

    12/30/2016 7:44:18 AM PST · by 2ndDivisionVet · 11 replies
    Vice News ^ | December 30, 2016 | Christina Sterbenz
    Despite all his contentious campaign rhetoric, China has embraced Donald Trump in a big way. Take the Trump-rooster statue just erected at a shopping mall in Taiyuan, the capital city of China’s Shanxi province, for example. The enormous effigy — to celebrate 2017, the Chinese Year of the Rooster — stands 32 feet tall, complete with the president-elect’s unmistakable quiff and hand gestures. In fact, Chinese retailers incorporate Trump’s “look” or name into their products frequently, including caricatured figurines, skincare items, condoms, and more. “This is the first time we’ve had a president who is a brand, and it’s not...
  • No More Athleisure, Brick And Mortar, Made in China? How Fashion Will Change In 2017

    12/26/2016 9:06:05 PM PST · by 2ndDivisionVet · 23 replies
    Fast Company ^ | December 26, 2016 | Elizabeth Segran
    Change is afoot in the fashion industry. We've already seen glimpses of how the tectonic plates in the fashion world are moving. In one of our best-read fashion stories of 2016, we explored how some of the premium U.S. fashion brands of the past—Tommy Hilfiger, Calvin Klein, Ralph Lauren—have lost their luster. They're losing ground to a new generation of direct-to-consumer brands that were born on the internet, including Everlane, Cuyana, M.Gemi, DSTLD, American Giant, and Vrai & Oro. These companies are offering something different from the flashy designers of yesterday: the insight into their supply chain and sometimes even...
  • Market Analyst: Donald Trump Could Go After Walmart Next

    12/12/2016 4:26:21 PM PST · by drewh · 38 replies
    Fortune ^ | DECEMBER 12, 2016, 1:28 PM EST | by Madeline Farber
    Walmart is the biggest company on the Fortune 500 but its gigantic revenues might not be enough to fend off President-elect Donald Trump. Chris Malone, a management consultant at Fidelum, told CNBC on Monday that there’s a good chance Trump will go after the retail giant—as it has been scrutinized for its labor practices in recent years, CNBC reports. “An easy target for him are those companies that are holding down the hours of their part-time employees to avoid paying them benefits,” Malone said. “He could put some real pressure on Walmart WMT 2.27% to step up and do the...
  • Is Sears Dying a Slow Death?

    12/09/2016 1:17:01 PM PST · by Hojczyk · 113 replies
    Fox Business ^ | DECEMBER 9, 2016
    Sears (SHLD), the 130-year-old American icon, can’t find a way to stop the bleeding. The floundering retailer has closed hundreds of Sears and Kmart stores, cut costs and borrowed millions of dollars from CEO Eddie Lampert’s hedge fund to keep the business going. Sears invested in its online store and a loyalty program, Shop Your Way, in hopes of regaining its footing, but customers have yet to return in droves. On Thursday, Sears reported its fifth quarterly loss in a row, and sales continued their downward trend. Sears also revealed that it will accelerate plans to shutter underperforming stores. Jason...
  • Wal-Mart to invest $1.3 billion in Mexico

    12/07/2016 8:45:22 PM PST · by Pinkbell · 42 replies
    Toledo Blade ^ | December 7, 2016
    MEXICO CITY — Retailer Wal-Mart de Mexico will invest $1.3 billion in logistics in Latin America's No. 2 economy, the company said today, a show of confidence in Mexico at a time of uncertainty after the election of Donald Trump. Recently, United Technologies Corp's Carrier unit decided to keep half of the 2,100 Indiana jobs it was to shift to Mexico after President-elect Trump worked out an agreement with the company's CEO, Gregory Hayes. A Wal-Mart Stores Inc. spokeswoman did not immediately respond to a request for comment on whether the world's largest retailer had heard from Trump after it made...
  • Pandora apologises to bride . . .

    12/07/2016 8:54:28 PM PST · by punknpuss · 23 replies
    Daily Mail ^ | Jennifer Smith
    Pandora has apologized to a bride and groom who were left humiliated by one of its store workers when they made fun of a set of $130 wedding rings as the couple was buying them. Speaking to DailyMail.com on Wednesday, Ariel McRae confirmed the company had been in touch to offer its apologies after her Facebook post about its staff's treatment of her went viral. 'Pandora has reached out to me and offered me their sincerest apologies and I accepted,' the 22-year-old student said. It came after an incident in a Tennessee store while Ariel and her husband Quinn were...
  • Starbucks courts millennials with $10 coffee at new Reserve bars

    12/07/2016 8:42:04 AM PST · by Prov1322 · 60 replies
    yahoo (so called) news ^ | 12.06.2016 | Lisa Baertlein and Tim Baysinger
    Starbucks courts millennials with $10 coffee at new Reserve bars By Lisa Baertlein and Tim Baysinger LOS ANGELES/NEW YORK (Reuters) - Starbucks Corp co-founder Howard Schultz's plan to build a new prestige brand is a bet that moving upscale can raise the profile of the world's largest coffee brand with millennials like Megan Sauers. Schultz in April will step down as chief executive to focus on building 1,000 new "Reserve" brand stores. Over time there also will be as many as 30 large, showcase Reserve Roastery and Tasting Rooms in major cities around the world. Starbucks last week announced that...
  • Ace Hardware Says It Is Selling Supplies To Pipeline Protesters

    12/02/2016 7:11:17 AM PST · by AbolishCSEU · 33 replies
    MSN.com ^ | 12/1/2016 | Woochit News
    The hardware store chain said a statement circulating on social media indicating it had stopped selling products to protesters had been “manipulated.” Despite social media reports and rumors to the contrary, Ace Hardware says that its stores have not stopped selling supplies to people protesting the Dakota Access Pipeline. Protests in North Dakota have been ongoing for months.
  • Levi's: No Firearms in Our Stores. Thanks.

    12/01/2016 10:34:04 AM PST · by rktman · 100 replies
    pjmedia.com ^ | 11/30/2016 | Liz Sheld
    So, while we understand the heartfelt and strongly-held opinions on both sides of the gun debate, it is with the safety and security of our employees and customers in mind that we respectfully ask people not to bring firearms into our stores, offices or facilities, even in states where it’s permitted by law. Of course, authorized members of law enforcement are an exception.
  • Patagonia To Donate 10 Million Dollars From Black Friday Sales

    11/30/2016 6:24:47 AM PST · by rktman · 27 replies
    ktvn.com ^ | 11/30/2016 | Meghan Breen
    Patagonia's Black Friday sales hit a record-breaking 10-million dollars... and they're donating all of it! That amount is five times more than what the outdoor clothing and gear company expected to earn, but Patagonia is keeping its promise to give away the sales it brought in on one of the biggest shopping days of the year. The 10-million dollars will go to nearly 800 environmental groups around the world. The vice president of environmental activism at Patagonia says the company came up with the idea to help bring people together after a divisive presidential election.
  • Trump security circus is hurting business at Tiffany

    11/29/2016 10:26:09 AM PST · by Puppage · 34 replies
    WTNH Television ^ | 11/29/16 | Puppage
    MANHATTAN (CNN)– Tiffany, the iconic jewelry retailer, said on Tuesday that sales in the U.S. were hurt by all the chaos surrounding its flagship store on New York City’s 5th Avenue, which just so happens to be neighbors with Trump Tower. While Tiffany didn’t mention the President-elect by name, it was clear what Tiffany was referring to when it said that there has been “some adverse effect on traffic” at the 5th Avenue location due to “the impact of recent election-related activity.” Tiffany added that there was “softness” at this store and warned that sales could be hit again in...
  • Americans Are Voting Again This Weekend

    11/27/2016 10:17:16 AM PST · by Strac6 · 31 replies
    She Who Must Obeyed (Mrs. Strac) | Vanity
    Mrs. Strac and three friends just returned from two hours of retail therapy. In most years, the stores at all the local malls would be overflowing with merchandise this weekend. Today, they were full of shoppers, but almost empty of items to purchase. The shelves were actually bare in many departments. Mrs. Strac questioned a number of managers and received the same reply from each. They all reported they had been overflowing with merchandise on Friday, but as soon as the stores opened, they were inundated with record numbers of purchasers. These were not just “tire-kickers” but actual buyers. In...
  • SHOPPERS BEWARE OF MACY’S SEX POLICY

    11/25/2016 4:40:43 PM PST · by heterosupremacist · 46 replies
    http://www.catholicleague.org ^ | 11/25/2016 | Bill Donohue
    *It’s Christmastime, and that means trying on clothes before and after the holiday. If you shop at Macy’s, please beware that your daughters and nieces may run into a strange looking man dressed as a woman in the store’s bathrooms and fitting rooms. More important, you should know that they have no rights. Indeed, a security guard, Javier Chavez, was fired from his job at a Macy’s store in Queens, New York, simply because he responded to a complaint by a woman and her daughter that a man dressed as a woman was in the women’s restroom. It’s actually worse...
  • Biggest Holiday Spurge in HISTORY! Sales Surge 13% As Stores Take Record $2BILLION Thanksgiving

    11/25/2016 4:18:13 AM PST · by drewh · 58 replies
    The London Daily Mail ^ | PUBLISHED: 18:23 EST, 24 November 2016 | UPDATED: 06:19 EST, 25 November 2016 | staff reported
    Hope for $3.1billion on Black Friday amid post-election spending boom Online shoppers charged out of the gate, spending more than $1.15billion between midnight and 5pm Forecasters expect the total value of Thanksgiving Day purchases to be more than $2billion It was an increase of more than 13 per cent on what was spent during the same time frame in 2015, and Adobe said it expected the Thanksgiving Day total to surge past $2billion in the next few hours. The forecasters expect almost $900million of the total figure to come from purchases made on mobile devices. The National Retailers Foundation says...
  • 'We are a Muslim business' Woolworths store cancels Christmas over Islamic customers

    11/23/2016 4:51:42 PM PST · by markomalley · 65 replies
    The Express ^ | 11/23/16 | Simon Osborne
    WOOLWORTHS has cancelled Christmas in one of its German stores after claiming its only remaining customers are Muslim. The former high street favourite went bust seven years ago in the UK but still operates 300 stores across Germany. And a row has broken out after staff at a branch in Dortmund decided not to bother with Christmas decorations, gifts or music this year because it is now essentially a Muslim store. Shocked locals found out after the Christmas section, which featured decorations, gifts and and festive treats such as chocolate Father Christmases, was removed after just a few days on...
  • Retailers dump Trump: Firms begin dropping Ivanka's line as GrabYourWallet boycott begins bite

    11/17/2016 10:49:11 AM PST · by Qathleen · 68 replies
    Daily Mail ^ | Nov 11, 2016 | Hanna Parry
    Retailers have begun ditching Ivanka's brand under the growing pressure of the anti-Trump boycott. Shoes.com, a Canadian online shoe store, became the first retailer to announce it was dropping Ivanka Trump's shoe line last week, following the GrabYourWallet campaign. Shannon Coulter kicked off the boycott on October 11, a reference to Trump's now famous 'grab them by the p***y' remark from the audio tape and numerous allegations of sexual assault by the president-elect. Read more: http://www.dailymail.co.uk/news/article-3946184/Retailers-dump-Trump-Firms-begin-dropping-Ivanka-s-line-GrabYourWallet-boycott-begins-bite.html#ixzz4QIEpMOF9 Follow us: @MailOnline on Twitter | DailyMail on Facebook
  • Clown Sightings Prompt Target to Pull Masks From Shelves Weeks Before Halloween

    10/17/2016 1:06:21 PM PDT · by Zakeet · 19 replies
    ABC News ^ | October 17, 2016 | Nicole Pelletiere
    The scary clown craze is now affecting big businesses like Target, which is removing clown masks from its shelves just weeks before Halloween. [Snip] This decision was made out of "sensitivity to the issue at hand," the rep said.
  • The Rise and Fall of the Army Surplus Store

    10/13/2016 4:19:09 PM PDT · by vannrox · 76 replies
    The Art of Manliness ^ | Oct 11, 2016 05:05 pm | By Brett and Kate McKay
    The Rise and Fall of the Army Surplus StoreBy Brett and Kate McKay on Oct 11, 2016 05:05 pm You’ve probably been to an army surplus store.They all look pretty much the same wherever you live. Surplus stores can be found in strip malls in the rough part of town or as stand-alone warehouse-style buildings with corrugated metal roofing and very few windows. They’re easy to miss while driving because they typically only announce themselves with a small yellow sign emblazoned with “Army Surplus” in black lettering.When you walk in, your nose is met with that distinct army surplus...
  • Retail Math: Hillary Leads!

    10/10/2016 9:45:47 PM PDT · by Attention Surplus Disorder · 16 replies
    Real_Life ^ | 10/10/2016 | Attention Surplus Disorder / Safeway Foods
    She's leading Trump by THIS MANY points.
  • DSN reader polls show narrow preference for Trump (Drug Store Industry)

    10/07/2016 12:32:24 PM PDT · by 2ndDivisionVet · 3 replies
    Drug Store News ^ | October 7, 2016
    As Election Day draws near, it looks like a slim majority of Drug Store News readers would prefer to see Donald Trump in the White House, according to our most recent online reader poll. Though the candidates are separated by fewer than 100 votes, at press time, 51% of readers (1163 votes) said they would vote Trump if the election were tomorrow, whereas 49% (1101 votes) said Hillary Clinton was their pick. These are the most recent results, but Drug Store News has been asking readers all year for their opinions on which candidate’s policies they would favor. We began...
  • Dozens of retailers pledge to be closed on Thanksgiving day

    10/07/2016 6:52:25 AM PDT · by LesbianThespianGymnasticMidget · 111 replies
    theindychannel.com ^ | Oct 6, 2016 | Mandy Gambrell
    As retailers started opening their doors on Thanksgiving Day in recent years to offer deep discounts ahead of Black Friday, some consumers cried foul. They want the deals, but they don't want to leave their family celebrations to get them. Some also spoke up on behalf of employees of the stores that opened, saying it's unfair to ask them to also step away from family and friends on the holiday.
  • Outdoor giant Bass Pro Shops to acquire rival Cabela's for $5.5B

    10/03/2016 6:39:43 AM PDT · by Trump20162020 · 95 replies
    The Chicago Tribune‎ ^ | October 03, 2016 | Tribune news services
    Outdoor gear giants Bass Pro and Cabela's will combine in $5.5 billion deal announced Monday. The deal will give Cabela's shareholders $65.50 cash per share, but it creates uncertainty about jobs in the retailer's home state of Nebraska. The combined companies plan to keep some operations in Sidney and Lincoln, Nebraska, but it's not immediately clear how many jobs might be lost. Bass Pro CEO Johnny Morris says he hopes to continue growing the Cabela's brand alongside his own Springfield, Missouri, based chain.
  • Target Corporation's transgender bathroom pander costing its shareholders billions

    09/30/2016 6:15:24 AM PDT · by Zakeet · 55 replies
    American Thinker ^ | September 27, 2016 | Sierra Rayne
    Within a month after the misguided policy, the company's market cap had already declined by $9 billion compared to where it should have been had Target kept its pre-April 19 correlation with its primary competitors, Walmart (WMT) and Costco (COST). By late May, the market cap hit reached $10.5 billion. As of the second week of June, the loss was $11 billion. Second-quarter earnings data are now out, showing that Target's earnings plummeted nearly 10%, with projected lower sales estimates for the remainder of 2016. Net sales declined more than 7% from the same period year over year. Corporate executives...
  • Target Removes Tiny Carts From Stores After Parents Complain

    09/26/2016 6:52:52 AM PDT · by SoFloFreeper · 60 replies
    After a slew of complaints online from parents who shop at target, Target is making a change. According to several tweets from an official Twitter account, Target is removing the recently added “tiny carts” from 72 of its stores this week where they were being tested. The change comes after a slew of complaints from parents....
  • Walmart apologizes for refusing to make police officer’s cake

    09/26/2016 5:58:21 AM PDT · by simpson96 · 49 replies
    The Telegraph ^ | 9/26/2016 | Elizabeth Koh
    Walmart is apologizing for refusing to make a police officer’s retirement cake last week after an employee told the cop’s daughter that her “thin blue line” cake design might be considered racist.The police officer’s daughter, who has remained anonymous, told radio host Todd Starnes that she went to a Walmart in McDonough, Georgia on Thursday to ask for a cake with the American flag in black and white with a blue stripe added in.But one of the employees at the bakery balked at the common police officer emblem, telling the woman “the design could be perceived as racist and nobody...
  • Two cash magicians confuse Walmart cashier out of $2100

    09/25/2016 12:58:19 PM PDT · by BBell · 37 replies
    liveleak.com ^ | 9/20/16
    Two cash magicians confuse Walmart cashier out of $2100
  • Moody's: Sears' and Kmart's shutdown is imminent

    09/14/2016 2:25:22 PM PDT · by PROCON · 140 replies
    businessinsider.com ^ | Sep. 14, 2016 | Hayley Peterson
    Moody's analysts say Sears and Kmart don't have enough money — or access to money — to stay in business. In a note published Wednesday, the analysts downgraded Sears' liquidity rating, saying the company is bleeding cash and will have to continue to rely on outside funding or the sale of assets, such as real estate, to sustain operations. "We recognize the risks associated with relying on these sources and continued shareholder support to finance its negative operating cash flow which is estimated by Moody's to be approximately $1.5 billion this year," the analysts wrote. Kmart in particular is...
  • Wal-Mart’s terrible 9/11 anniversary display

    09/08/2016 9:29:27 AM PDT · by ChicagoConservative27 · 27 replies
    As another anniversary of the Sept. 11 attacks approaches, some tone-deaf companies can’t resist using the memory to sell products. A Wal-Mart store in Panama City Beach, Florida, was called out on social media for a tacky display that included stacks of soft drinks built to resemble the Twin Towers with a message that read: “We Will Never Forget.” The soda was on sale for $3.33.
  • Walmart's Walton family backing Clinton

    09/07/2016 4:51:05 PM PDT · by SMGFan · 68 replies
    washington examiner ^ | September 7, 2016
    The heirs of late Walmart founder Sam Walton are backing Hillary Clinton for president. Collectively, the leading members of Arkansas' Walton family have given about $714,000 to the candidate and the Democratic Party during the current election cycle, federal records show. The donations are an example of the longstanding ties between the Walton and Clinton families. It is an awkward situation for the candidate, a former Walmart board member, since most of her allies in organized labor and the broader liberal movement detest the Waltons, mainly because of the company's anti-union stance.
  • Target Stock Plummets as Bathroom Boycott Surges

    08/22/2016 1:23:59 PM PDT · by Kaslin · 79 replies
    Townhall.com ^ | August 22, 2016 | Todd Starnes
    There are two indisputable facts surrounding Target’s decision to allow men to use the same bathrooms and changing rooms as women and little girls. First, Target’s stock has taken pounding since April. Second quarter earnings fell to $680 million, according to Market Watch. And revenue fell 7.2 percent. Second, more than 1.4 million consumers have joined American Family Association’s nationwide boycott of the nation’s second-largest discount retailer. The debate is whether there is a correlation between those two facts. Target CEO Brian Cornwell told Fortune magazine in May that the transgender bathroom policy has nothing to do with their financial...
  • Target to spend $20 million on single-stall bathrooms after backlash to its restroom policy

    08/19/2016 10:44:18 AM PDT · by Morgana · 38 replies
    Washington post ^ | August 17, 2016 | Sarah Halzack
    Target said Wednesday it is preparing to spend $20 million in the coming months to add single-stall bathrooms along with men’s and women’s restrooms in its stores, a move meant to accommodate shoppers who have expressed concern about the retailers’ policy of allowing customers and employees to use the bathroom that corresponds to the gender they identify with. “Some of our guests clearly are uncomfortable with our policy, and some are really supportive,” said Cathy Smith, Target’s chief financial officer, in a conference call wither reporters.
  • Di Leo: Chain Closings and the Very Big Picture

    08/18/2016 8:38:47 PM PDT · by jfd1776 · 29 replies
    Illinois Review ^ | Thursday, August 18, 2016 | John F. Di Leo
    Should we be worried if the stock market doesn’t seem to be? We get the oddest mixed signals from the economy sometimes, don’t we? In recent months, we have learned of 95 Ruby Tuesday restaurants that will be shutting their doors… and that Macy’s will be closing a hundred department stores… and that 255 Hancock Fabric stores will be closing… and that Sports Authority will close virtually all 450 of its locations… the list goes on and on. Every week, there’s another such announcement, and yet the Dow Jones Industrial Average keeps setting record highs. And so, some of us...
  • Walmart bucks downward trend in retail with earnings beat

    08/18/2016 12:42:03 PM PDT · by sparklite2 · 26 replies
    New York Post ^ | August 18, 2016 | Reuters
    Earlier this year, Walmart said it would invest $2.7 billion over two years to increase entry-level wages to $10 an hour, a move the company said has led to cleaner stores, faster checkouts and improved customer service. “Walmart’s strategic investments are generating traction, which is especially meaningful, given a large portion of its customer base remains challenged,” said Moody’s analyst Charlie O’Shea. The company bucked a string of weak results by higher-end brick-and-mortar competitors like Target, Macy’s and Kohls.
  • Target to Spend $20 Million to Build Single-Stall Bathrooms

    08/17/2016 7:01:00 PM PDT · by Hojczyk · 33 replies
    Newsmax ^ | August 17,2016 | By Jason Devaney
    Target announced Wednesday that it will spend millions of dollars to add single-stall bathrooms in its stores, months after it caught heat for its transgender bathroom use policy. According to USA Today, about 1,400 of the retail giant's 1,800 stores already have single-stall restrooms that anyone can use. It will spent $20 million to add bathrooms to the 400 stores that do not have single-stall options. its restroom policy allows transgender customers to use the restroom that aligns with their gender identity. Critics blasted the decision, and the store reportedly lost $10 billion after that — although company officials denied...
  • Target cuts outlook, says market 'difficult'

    08/17/2016 9:01:43 AM PDT · by UB355 · 103 replies
    MIlwaukee ^ | 8/17/2016 | ANNE D'INNOCENZIO
    Minneapolis — Target cut its profit and comparable-store sales outlook amid stiffer competition and its own stumbles in areas like grocery sales. The discounter’s second-quarter net income fell nearly 10%, though that was better than what most had expected. Sales at stores open at least a year fell 1.1%, reversing seven straight quarters of gains. Target shares were down more than 6% in mid-morning trading Wednesday. The quarter underscores challenges that Target and other retailers face from Amazon.com and shoppers who remain cautious about spending.
  • BUSINESS Retailer's 'brilliant marketing strategy' backfiring (Target)

    08/17/2016 3:06:52 PM PDT · by aquila48 · 31 replies
    OneNewsNow ^ | August 17, 2016 | Chris Woodward, Jody Brown
    A financial expert argues that regardless what Target says, the four-month-long boycott of the retailer by a pro-family group is at least part of the reason the company's revenue has dropped more than a billion dollars in the last quarter. Target reported today it has cut its profit and comparable-store sales outlook amid stiffer competition and its own stumbles in areas like grocery sales. The discounter's second-quarter net income fell nearly 10 percent, though that was better than what most had expected. According to The Associated Press, sales at stores open at least a year fell 1.1 percent, reversing seven...
  • Target to spend $20 million on private bathrooms after customer revolt

    08/17/2016 1:03:36 PM PDT · by Oldeconomybuyer · 75 replies
    MarketWatch ^ | August 17, 2016
    Target Corp. said it will spend $20 million to add a private bathroom to each of its stores by next year, following customer protests over its policy allowing transgender individuals to use whichever restroom corresponds with their gender identity. Target’s finance chief Cathy Smith said the move is a response to feedback from customers voicing displeasure over the company’s bathroom policy. She added the customer discontent hadn’t had a “material impact” on sales. CEO Brian Cornell had promised to roll out family restrooms earlier this year and defended the company’s stance on diversity. Protests started at Target stores after the...
  • Target cuts outlook as it sees fewer customers in stores

    08/17/2016 1:38:05 PM PDT · by Morgana · 64 replies
    usnews.com ^ | August 17, 2016 | ANNE D'INNOCENZIO,
    NEW YORK (AP) — Target Corp. cut its profit forecast and a key sales outlook Wednesday as it saw fewer customers in its stores and acknowledged it didn't push the second part of its "Expect More, Pay Less" slogan. The Minneapolis-based discounter's second-quarter net income fell nearly 10 percent, though that was better than what most had expected. Sales at stores open at least a year fell 1.1 percent, reversing seven straight quarters of gains. Its main competitor, Wal-Mart Stores Inc., reports results Thursday. Target's shares fell $4.74, or 6 percent, to $70.74 in afternoon trading.
  • Target's Transgender-Friendly Bathroon Policy Is Costing It $20 Million

    08/17/2016 12:30:29 PM PDT · by C19fan · 27 replies
    Target ^ | August 17, 2016 | Phil Wahba
    Target TGT -6.02% is spending millions to add private single-stall locking bathrooms at many of its stores as it looks to reverse a drop in shopper traffic, some of which may have been caused by the retailer’s transgender-friendly bathroom policy.
  • Stores to customers: "Cash not welcome here"

    08/13/2016 1:53:37 PM PDT · by 2ndDivisionVet · 35 replies
    CBS News ^ | August 12, 2016 | Aimee Picchi
    To get a glimpse of the future of commerce in America, look no further than Sweden. The Scandinavian country is largely a cashless society, with consumers relying on mobile phone payments or plastic. While the U.S. is still far from achieving the same level of cash-free existence, increasing numbers of restaurants and retailers are now snubbing the lowly dollar bill. Some merchants such as SweetGreen, a salad chain, refuse to open their registers for cash, telling customers they can pay only with mobile payments or cards. With some newer vending machines, only a card or mobile wallet will get that...
  • Macy's plans to close 100 stores, boost online investment

    08/11/2016 5:53:41 AM PDT · by Olog-hai · 87 replies
    Associated Press ^ | August 11, 2016
    Macy’s says it plans to close about 100 stores next year as the department store operator aims to become more nimble in a competitive market. That represents close to 14 percent of its store base. […] The nation’s largest department store chain says that it earned $11 million, or 3¢ per share, in the quarter ended July 30. That compares with $217 million, or 64¢ per share, in the year-ago period. …