Keyword: retail

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  • OPEN LETTER TO WALMART PRESIDENT AND CEO MR. C. DOUGLAS MCMILLON RE: CUSTOMER SERVICE AND CHRISTMAS

    12/10/2014 9:38:21 AM PST · by Ravnagora · 19 replies
    December 10, 2014 | Aleksandra Rebic
    Mr. C. Douglas McMillon President and Chief Executive Officer Walmart Corporate Office Headquarters 702 SW 8th Street Bentonville, AR 72716 Dear Mr. McMillon, This is a happy letter that I'm so pleased to be writing, because it's about a very positive experience I had at one of your stores in the Chicago suburban area on Saturday December 6, 2014, and the experience left me very hopeful about the future of Christmas in America. Like many others, I had been under the impression for a number of years now that Walmart customer service associates were "not allowed" to wish their customers...
  • Sears' Collapse Is Now 'Inevitable'

    12/04/2014 12:38:36 PM PST · by SeekAndFind · 65 replies
    Business Insider ^ | 12/04/2014 | ASHLEY LUTZ
    Sears is shutting down hundreds of stores. The chain announced today that it is accelerating store closings to 235 this year, 100 more than previously planned. Sears' total net loss for the quarter was $296 million. Sears' and K-Mart's collapse is "inevitable" and could happen by the year 2016, retail analyst and author Robin Lewis writes on his blog. "These two retail brands are dead men walking," Lewis writes. "As a retailer they're at the point of no return," David Tawil, cofounder of Maglan Capital and an expert in distressed retail companies, told Business Insider earlier this year. "The real...
  • Sears to accelerate closings, shutter 235 stores

    12/04/2014 12:42:34 PM PST · by Hojczyk · 133 replies
    CNBC ^ | December 4,2014 | Krystina Gustafson
    Sears shares fell Thursday, after the struggling department store announced an adjusted net loss of $296 million—in line with the updated guidance it gave in November. The retailer also said it's accelerating the number of stores it plans to close this year, boosting its list from the 130 underperforming stores it announced in its second-quarter earnings release, to a total of 235 stores. Analysts called the move a step in the right direction for the company, which has been tapping into its real estate in creative ways to compensate for downward-spiraling sales. Still, they said the haircut won't be enough...
  • Fewer shoppers and a decline in spending during Black Friday weekend

    12/01/2014 6:11:44 AM PST · by C19fan · 33 replies
    Washington Post ^ | November 30, 2014 | Sarah Halzack
    Fewer consumers hit the stores or went online this Thanksgiving weekend, a sign that Black Friday’s bloat into days and even weeks of promotions may be creating less urgency around the events that many retailers consider the kickoff to the holiday shopping season. The National Retail Federation reported that 55.1 percent of consumers shopped between Thursday and Sunday, according to a survey it conducted over the weekend. That is down from 58.7 percent the previous year. The NRF said total spending was $50.9 billion, an 11 percent decline from an estimated $57.4 billion in 2013.
  • Retail Disaster: Holiday Sales Crater by 11%, Online Spend Declines

    11/30/2014 5:16:39 PM PST · by SeekAndFind · 94 replies
    Zero Hedge ^ | 11/30/2014 | Tyler Durden
    Last year was bad. This year is an outright disaster. As we reported earlier using ShopperTrak data, the first two days of the holiday shopping season were already showing a -0.5% decline across bricks-and-mortar stores, following a "cash for clunkers"-like jump in early promotions which pulled demand forward with little follow through in the remaining shopping days. However, not even we predicted the shocker just released from the National Retail Federation, the traditionally cheery industry organization, which just reported absolutely abysmal numbers: sales during the four-day Thanksgiving holiday period crashed by a whopping 11% from $57.4 billion to $50.9...
  • Walmart workers scarce at Black Friday anti-Walmart protest in D.C.

    11/30/2014 12:31:05 AM PST · by Cincinatus' Wife · 72 replies
    The Washington Examiner ^ | November 29, 2014 | Sean Higgins
    Organizers of a post-Thanksgiving protest on behalf of workers at a Walmart in downtown Washington, D.C. identified only one of the participants as actually working at that store. The admission underscores the fact that few Walmart workers have been involved in the protests. "Thirty striking workers from Washington, D.C., Virginia and Maryland took part in today’s protest, and Melinda Gaino, one of the striking workers, works at the H Street Store," said Julie Anderson, a spokeswoman for the 1.3 million member United Food and Commercial Workers union, which organized the event. Walmart spokesman Kory Lundberg claimed the number was far...
  • Walmart Black Friday Protests Hit Major Cities With Calls For '$15 And Full Time'

    11/28/2014 2:16:10 PM PST · by 2ndDivisionVet · 53 replies
    The Huffington Post ^ | November 28, 2014 | Dave Jamieson
    WASHINGTON -- Dirk Rasmussen had Friday off and could have slept in if he wanted to. Instead, the Maryland resident and Teamster rose early and drove to downtown Washington, eager to join a post-Thanksgiving protest against Walmart. "Our local [union] president encouraged us to take part," said Rasmussen, 58, who works in a lumber and building-supply warehouse. "I raised eight children on a Teamsters benefit package and Teamsters wage. I'm a firm believer in collective bargaining, and I'm very concerned about the security of this next generation." Black Friday may be most famous for doorbuster shopping deals, but among progressives...
  • Obama is the Problem - Walmart is the Solution

    11/17/2014 10:22:09 AM PST · by Kaslin · 38 replies
    Townhall.com ^ | November 17, 2014 | Michael Schaus
    Once again, we can say "thanks" to a private sector that is routinely berated by the government-loving statists of the Democrat Party. It turns out that the heartless corporations, and not the big-government juggernaut of good intentions, are the ones actually doing good for Americans, their families, and their communities. In a piece of news that is tailored fit to annoy the liberal in your life, it turns out WalmartÂ’s healthcare plans are measurably more compassionate than the stock plans offered by Obamacare. IÂ’ll give you a minute to fit that last thought on a bumper sticker that you can...
  • Wal-Mart told store managers to match online prices with Amazon

    11/13/2014 5:17:05 PM PST · by dynachrome · 53 replies
    Reuters ^ | 11-13-14 | Nathan Layne
    Wal-Mart Stores Inc has informed managers of its roughly 5,000 stores across the United States that they can match prices with Amazon.com Inc and other online retailers, the head of the company's U.S. business said on Thursday.
  • Malls Fill Vacant Stores With Server Rooms: Empty Department Stores Converted Into Data Centers

    11/03/2014 7:35:24 PM PST · by 2ndDivisionVet · 18 replies
    The Wall Street Journal ^ | November 3, 2014 | Drew Fitzgerald and Paul Ziobro
    The Internet is moving to a shopping center near you. In Fort Wayne, Ind., a vacated Target store is about to be home to rows of computer servers, network routers and Ethernet cables courtesy of a local data-center operator. In Jackson, Miss., a former McRae’s department store will get the same treatment next year. And one quadrant of the Marley Station Mall south of Baltimore is already occupied by a data-center company that last year offered to buy out the rest of the building. As America’s retailers struggle to keep up with online shopping, the Internet is starting to settle...
  • For RadioShack, the end is near

    Gentlemen and gentlewomen of a certain age harbor fond memories of trips to RadioShack. In days of yore, ham radios and homemade guitar amplifiers would emerge from the mysterious jumble of wires and audio components hawked by this unpretentious electronic retailer. Whatever one’s view of this American institution with about 27,000 employees, it is near death. On Thursday, RadioShack warned that it may file for Chapter 11 bankruptcy.
  • Costco execs turn tables on state Senate Democrats

    09/14/2014 11:17:05 AM PDT · by 2ndDivisionVet · 17 replies
    The Seattle Times ^ | September 13, 2014 | Jim Brunner
    After being stiff-armed by Democrats on a liquor-tax dispute, Costco execs have shifted their loyalties to Republicans in this year’s state Senate races.When it comes to politics, Costco Wholesale has a well-deserved reputation as a Democratic-leaning corporation. Company co-founders Jim Sinegal and Jeffrey Brotman have hosted President Obama at fundraisers in their lakefront mansions. Costco executives have donated hundreds of thousands of dollars to Democratic candidates and causes over the past decade. But in the key battle for control of the state Senate this year, top Costco brass — miffed at Democrats over a liquor-fee dispute — have essentially switched...
  • RadioShack restructuring begins to takes shape

    09/10/2014 1:54:31 PM PDT · by SeekAndFind · 78 replies
    Thoubled electronics retailer RadioShack Corp's shares have lost nearly a third of their value since brokerage Wedbush Securities said on Tuesday the company could file for bankruptcy soon, making the stock worthless by the end of this year. The stock fell as much as 20 percent to 76 cents on Wednesday, adding to a 23 percent plunge on Tuesday. "Our price target reflects our expectation that creditors will force a reorganization and wipe out RadioShack's equity," Wedbush analyst Michael Pachter wrote in a note. Pachter, rated four stars out of five by StarMine for the accuracy of his calls on...
  • CVS changes name, stops tobacco sales a month early

    09/03/2014 7:23:37 PM PDT · by ConservativeStatement · 49 replies
    AP ^ | September 3, 2014
    As CVS sharpens its focus on customer health, the nation's second-largest drugstore chain will tweak its corporate name and stop the sale of tobacco nearly a month sooner than planned. CVS Caremark will now be known as CVS Health. The signs on its roughly 7,700 drugstores won't change, so the tweak may not register with shoppers.
  • Target publicly endorses gay marriage

    08/13/2014 7:00:18 AM PDT · by PeteePie · 59 replies
    Boston Globe ^ | Aug 6, 2014
    MINNEAPOLIS — Target Corp. is adding its name to a legal defense of gay marriage, joining other large companies that are taking a stand, just four years after the retailer came under criticism for supporting a strident opponent of same-sex unions. Target said it has signed a court brief backing marriage equality in a pending court case and publicly declared its support of gay marriage, a move similar to those taken by Starbucks, Intel and Apple.
  • There Goes Q2 GDP - Wholesale Inventories Miss By Most In 16 Months

    08/08/2014 4:24:22 PM PDT · by Perdogg · 2 replies
    zero hedge ^ | Submitted by Tyler Durden on 08/08/2014 10:11 -0400
    Against expectations of a further rise in inventory build of 0.7%, wholesale inventories rose only 0.3% in June (the same pace as in May) missing by the most since February 2013. With GDP now basically an exercise in inventory expansion and contraction (Q2 inventory estimate amounte to 40% of GDP), this 'miss' offers little hope for the initial Q2 rebound to hold its exuberance. In addition, wholesale sales also missed (up only 0.2% against expectations of a 0.7% rise) with growth slowing for the 3rd month in a row. Inventories miss significantly...
  • Target Has Marriage in its Crosshairs

    08/08/2014 9:45:01 AM PDT · by virtuous · 35 replies
    American Decency Association ^ | August 7, 2014 | Lisa Van Houten
    The Target Corporation has traditional marriage and family in the crosshairs of its bulls-eye. Target has now declared its support for homosexual “marriage.” However, the Minnesota-based retailer has gone past the point of articulating support for gay “marriage” and has jumped into the fray to wield its influence with the courts on this issue. Working to overturn the vote of the people regarding the true definition of marriage, Target has filed an amicus brief with the 7th Circuit Court of Appeals pushing for so-called marriage “equality” regarding the ban on same-sex marriage in Wisconsin and Indiana. (The case is before...
  • Target Openly Supports Gay Marriage in Legal Brief [I will go JC Penney on them]

    08/06/2014 2:49:50 PM PDT · by SoFloFreeper · 34 replies
    Time.com ^ | 8/6/14 | Denver Nicks
    The major retailer has joined a group of companies in filing an amicus brief in support of gay marriage
  • Clothing chain Love Culture files bankruptcy, may be sold

    07/18/2014 7:32:20 PM PDT · by 2ndDivisionVet · 8 replies
    Reuters ^ | July 16, 2014 | Jonathan Stempel
    Love Culture Inc on Wednesday filed for Chapter 11 bankruptcy, becoming the latest women's apparel retailer to seek protection from creditors, and said it may be sold after having received interest from possible buyers. The company, which according to its website has 82 stores stretching from Massachusetts to Hawaii, joins Ashley Stewart Holdings Inc, Coldwater Creek Inc., Dots LLC and Loehmann's Inc among retailers to file for bankruptcy since late last year as consumers curb spending and visit malls less. In a court filing, the company's chief restructuring officer, Rick Bunka, said sales remain below projections, while vendors in April...
  • Target security officer fired after reporting [cop] shoplifting

    07/14/2014 8:12:22 AM PDT · by bornred · 27 replies
    Washington Post ^ | July 12 | Tom Jackman
    Dallas Northington spent nearly eight years working for Target in loss prevention, roaming the stores and scanning the surveillance cameras. In an episode at the Leesburg Target store in May that he said was typical, a man was allegedly captured twice on video shoplifting, and Northington responded as he said he always did: He called the Leesburg police, made a report and provided them the videos of the two incidents. But the man in the video may have been a Fairfax County sheriff’s deputy, Northington said he soon learned. And within days, two things happened: The deputy retired from the...
  • Retailers Have Given Some Discouraging Commentary About The US Economy To Start Earnings Season

    07/11/2014 11:20:12 AM PDT · by blam · 15 replies
    BI ^ | 7-11-2014 | Myles Udland
    Myles Udland July 11, 2014Something seems off in the economy.Over a three-week span starting next Monday, 72% of the S&P 500's members will report earnings, but some of the early indications about this earnings season, especially from companies highly exposed to the U.S. consumer, have not been encouraging. On Tuesday afternoon, two companies that are all about consumer spending, Bob Evans and The Container Store, reported earnings that were disappointing. But even more discouraging were the comments from company executives. Bob Evans, which wrapped up its fiscal year 2014 in its most recent quarter, said its results were impacted by...
  • The world's first climate-controlled city: Dubai to build biggest mall on the planet....

    07/09/2014 5:20:40 PM PDT · by 2ndDivisionVet · 44 replies
    The London Daily Mail ^ | July 6, 2014 | Sarah Gordon
    Dubai is already home to the tallest tower in the world, so it was just a matter of time until the glitzy emirate planned another record-breaking construction. Its next project involves building the largest shopping mall on the planet, complete with climate-controlled streets, the world's largest indoor theme park and 100 hotels and apartments. In fact, the ambitious emirate has dubbed the project a 'temperature-controlled pedestrian city'. Occupying 48 million square feet, the Mall of the World will also contain health resorts, theatres, a Celebration Steet modelled on the Ramblas boulevard in Barcelona and 'retail streets network' that will stretch...
  • Target 'Respectfully' Asks Law-Abiding Citizens to Leave Guns at Home

    07/02/2014 1:36:33 PM PDT · by 2ndDivisionVet · 81 replies
    Breitbart's Big Government ^ | July 2, 2014 | AWR Hawkins
    (VIDEO-AT-LINK)On July 2nd, Target "respectfully" asked law-abiding citizens to "not bring firearms" in their stores. The department store chain did this via an announcement posted on its website and shared by interim CEO John Mulligan. The announcement says: As you've likely seen in the media, there's been a debate about whether guests in communities that permit "open carry" should be allowed to bring firearms into Target stores. Our approach has always been to follow local laws, and of course, we will continue to do so. But starting today we will respectfully request that guests not bring firearms to Target--even in...
  • Advance Auto closing 100 stores in first round of post-merger consolidation (AA and CarQuest)

    06/30/2014 10:29:11 AM PDT · by 2ndDivisionVet · 18 replies
    The News and Observer ^ | June 27, 2014 | David Bracken
    During a meeting with analysts and investors on Wednesday, Advance Auto Parts executives were asked how many stores they expect to close as a result of the company's acquisition of Raleigh-based General Parts International. George Sherman, Advance Auto's president, said the company is consolidating 100 stores as part of a first round of closings. "There will be more going forward," he said. "We have to assess fully 1,200-plus stores across the country. There will be a large group of consolidations, but there will be a lot of conversations where we flip the banner and there will be some relocations." General...
  • Walmart’s Response To The New York Times Is Great

    06/23/2014 8:08:06 AM PDT · by NKP_Vet · 57 replies
    http://news.yahoo.com ^ | June 22, 2014 | The Daily Caller
    Walmart, the nation’s largest retailer, recently decided to go into the newspaper editing business. The Arkansas-based company responded to an article from New York Times columnist Timothy Egan, titled “The Corporate Daddy” by doing the work that it felt Egan’s Times editors should have done. “Thanks for sharing your first draft,” reads a red-inked note from Walmart, which is known more for its low prices than its snark. “Below are a few thoughts to ensure something inaccurate doesn’t get published,” continued the note, which was posted at Walmart’s blog and is attributed to David Tovar, Walmart’s director of corporate communications....
  • Walmart hands NY Times' editors their own posteriors

    06/23/2014 8:06:05 AM PDT · by SeekAndFind · 5 replies
    American Thinker ^ | 06/23/2014 | Thomas Lifson
    I have never met David Tovar, Walmart’s vice president, corporate communications, but I’d like to shake his hand. In this brilliant response to a column by Timothy Egan of the New York Times, Mr. Tovar puts to shame the editors who worked on the Egan piece, literally taking a red pencil to the piece they deigned to publish, and showing them how to do their jobs.For example: As you can suss from this excerpt, the premise of the Egan column is that Starbucks (which dispenses expensive coffee to the type of people who work art the New York Times) is...
  • Tracy Morgan Crash Among Hundreds Involving Walmart Trucks In Past 2 Years (380 Crashes, 9 Deaths)

    06/10/2014 4:12:34 PM PDT · by nickcarraway · 40 replies
    CBS New York ^ | June 9, 2014
    The accident that injured comedian Tracy Morgan and killed a passenger on his limo bus was one of hundreds of crashes involving Walmart trucks in the past two years. Walmart trucks have been involved in 380 crashes in that time, federal data shows. Nine people have been killed; 129 have been injured.
  • Troubles mounting, Sears will lay off 55 in Fort Worth

    05/30/2014 4:24:52 PM PDT · by 2ndDivisionVet · 2 replies
    The Dallas Business Journal ^ | May 27, 2014 | Korri Kezar
    Sears Holding Corp. will lay off 55 employees at its parts and distribution center in north Fort Worth as troubles keep mounting for Hoffman Estates, Illinois-based retailer. In a letter under the Worker Adjustment Retraining and Notification Act (WARN) to the Texas Workforce Commission, the company said the employees will be laid off from its facility at 5001 N. Beach St., and that the eliminations are expected to be permanent. The terminations are expected to occur on or around June 29, the letter said. Sears said it will keep the Fort Worth facility open while reducing its staff. "These decisions...
  • U.S. Retail Economic Death Rattle Grows Louder

    05/26/2014 10:54:28 AM PDT · by blam · 42 replies
    The Market Oracle ^ | 5-26-2014 | James Quinn
    May 26, 2014 - 06:47 AMBy: James Quinn The definition of death rattle is a sound often produced by someone who is near death when fluids such as saliva and bronchial secretions accumulate in the throat and upper chest. The person can’t swallow and emits a deepening wheezing sound as they gasp for breath. This can go on for two or three days before death relieves them of their misery. The American retail industry is emitting an unmistakable wheezing sound as a long slow painful death approaches. Death rattle It was exactly four months ago when I wrote THE RETAIL...
  • My personal Wal-Mart nightmare: You won’t believe what life is like working there

    05/17/2014 8:54:15 PM PDT · by 2ndDivisionVet · 222 replies
    Salon ^ | May 8, 2014 | Pam Ramos
    When I woke up to see the news, I could hardly believe it: President Obama is planning a visit to the Mountain View Wal-Mart where I work. But the excitement quickly passed when I found out the store would be shutting down hours in advance of his visit. I wouldn’t be able to tell the president what it’s like to work at Wal-Mart and what it’s like to struggle on low wages, without the hours I need. I am living at the center of the income inequality that he speaks about so often, and I wanted to talk to him...
  • Struggling malls suffer when Sears, Penney leave

    05/13/2014 3:28:27 AM PDT · by John W · 127 replies
    Wall Street Journal via Yahoo News ^ | May 12, 2014 | Suzanne Kapner and Robbie Whelan
    NORFOLK, Va.—With J.C. Penney Co. and Sears Holdings Corp. racing to close stores, America's weakest malls are being pushed to the brink. Nearly half of the 1,050 indoor and open air malls in the U.S. have both of those struggling chains as anchor tenants, according to real-estate research firm Green Street Advisors. Of those malls, nearly a quarter are struggling with sales below $300 per square foot and vacancy rates above 20%, meaning they will have a hard time finding new tenants if old ones leave. For an already-weakened mall industry, the negative turn for two once-reliable anchors is promising...
  • How Wayfair Sells Nearly $1 Billion Worth Of Sofas, Patio Chairs And Cat Playgrounds

    05/05/2014 1:48:17 PM PDT · by 2ndDivisionVet · 14 replies
    Forbes ^ | The May 5, 2014 Issue | Abram Brown
    Wayfair is an e-commerce site selling home furnishings. But with 1,600 employees, its physical presence is rapidly outgrowing its space in an obelisklike skyscraper in Boston’s Back Bay–which happens to be a former hub of the Christian Science church. Long gone are the white shag carpets, wood paneling and executive-floor elevators that once allowed church higher-ups to avoid hoi polloi. Flat-panel TVs on each of 12 floors beam not messages of faith healing but maps of the U.S. and Europe that light up whenever there’s a sale. Within seconds Katherine from Decatur, Tex. buys a $49 tungsten wedding ring, Jen...
  • Two Texas Cities Lead the US in Income Growth

    05/01/2014 7:55:41 PM PDT · by 2ndDivisionVet · 19 replies
    Breitbart's Texas ^ | April 30, 2014 | Kristin Tate
    Fresh government statistics reveal that two west Texas cities, Odessa and Midland, are leading the nation in income growth. The U.S. Bureau of Economic Analysis found between 2008 and 2012, while many cities saw significant decreases in personal income--Odessa and Midland led the nation with increases of 10.2 percent and 9.6 percent, respectively. According to the data, traditional leading markets like Los Angeles see roughly 10 percent of the population often unable to find a job. Odessa and Midland have the opposite problem. "We have issues filling our jobs," Sara Higgins, a spokeswoman with the City of Midland, told Breitbart...
  • Retail Store Closures Soar In 2014: At Highest Pace Since Lehman Collapse

    04/21/2014 2:52:51 PM PDT · by SeekAndFind · 27 replies
    Zero Hedge ^ | 04/21/2014 | Tyler Durden
    What a better way to celebrate the rigged markets that are telegraphing a "durable" recovery, than with a Credit Suisse report showing, beyond a reasonable doubt, that when it comes to traditional bricks and mortar retailers, who have now closed more stores, or over 2,400 units, so far in 2014 and well double the total amount of storefront closures in 2013, this year has been the worst year for conventional discretionary spending since the start of the great financial crisis!From Credit Suisse's Michael Exstein Since the start of 2014, retailers have announced the closure of more than 2,400 units,...
  • Two More Victims Of The Retail Apocalypse: Family Dollar And Coldwater Creek

    04/20/2014 6:52:57 AM PDT · by SeekAndFind · 49 replies
    TEC ^ | 04/19/2014 | Michael Snyder
    Did you know that Family Dollar is closing 370 stores? When I learned of this, I was quite stunned. I knew that retailers that serve the middle class were really struggling right now, but I had no idea that things had gotten so bad for low end stores like Family Dollar. In the post-2008 era, dollar stores had generally been one of the few bright spots in the retail industry. As millions of Americans fell out of the middle class, they were looking to stretch their family budgets as far as possible, and dollar stores helped them do that....
  • America's Retail Job Growth Illusion: More Workers, Fewer Hours

    03/27/2014 6:36:58 AM PDT · by SeekAndFind · 14 replies
    IBD ^ | 03/27/2014 | Jed Graham
    The rank-and-file retail workforce has never been through an employment drought like the kind seen in the past two years, outside of a recession or its immediate aftermath. While retail-industry woes are a regular news staple, the sector's addition of 308,000 nonmanagerial jobs from December 2011 to December 2013 — before severe winter weather began skewing economic data — has provided the appearance of a recovery in payrolls. Yet that increase was offset by a slide in the average workweek to 30 hours from 30.7 hours. In fact, total hours clocked by nonsupervisors didn't budge in that two-year span, Bureau...
  • Nine Retailers Closing the Most Stores

    03/13/2014 7:02:11 PM PDT · by SeekAndFind · 28 replies
    Wall Street 24X7 ^ | 03/13/2014 | By Douglas A. McIntyre and Alexander E.M. Hess
    Brick-and-mortar retailers have been suffering from slow economic activity for years, as well as from increased competition from online retailers. The rise in store closings is a prominent sign of their struggles. Weakened companies cannot afford the real estate and personnel costs that go along with supporting hundreds of unprofitable locations. The clearest proof of the problem was Radio ShackÂ’s recent decision to close more than 1,000 stores. Radio Shack is hardly alone. During that last several years Gap has closed 20% of its locations. Even MacyÂ’s, which has forecast strong earnings and is considered the most successful of the...
  • The End of an Era: Fashion Discount Retailer Dots Files Chapter 11 Bankruptcy and Closes Its Doors

    03/11/2014 5:02:19 PM PDT · by 2ndDivisionVet · 9 replies
    FashInvest ^ | March 3, 2014 | Lolita A. Alford
    On February 27th, Gordon Brothers Group, a global advisory, restructuring and investment firm was awarded the store closing process for all locations by the bankruptcy court. Store closing sales will begin on March 1st and will involve significant discounts on all merchandise, as well as store furniture, fixtures and equipment in order to wind down company operations. “Our employees continue to do a tremendous job maintaining high quality standards and they are dedicated to fully serving our customers during this transition,” David Minnix, president of Dots, said. “We appreciate the continued support of our valued customers over the years and...
  • Staples to shutter 225 stores as sales move online

    03/11/2014 4:46:34 PM PDT · by 2ndDivisionVet · 33 replies
    (VIDEO-AT-LINK)FRAMINGHAM, Mass. (AP) — Staples will close up to 225 stores in North America by the end of next year as it seeks to trim about $500 million in costs annually by 2015. The nation’s largest office-supply retailer said Thursday that nearly half of its sales are now generated online, so it will aggressively cut costs to become more efficient....
  • 20 Facts About The Great U.S. Retail Apocalypse That Will Blow Your Mind

    03/11/2014 12:24:53 AM PDT · by 2ndDivisionVet · 83 replies
    The Economic Collapse ^ | March 9, 2014 | Michael Snyder
    If the U.S. economy is getting better, then why are major retail chains closing thousands of stores? If we truly are in an "economic recovery", then why do sales figures continue to go down for large retailers all over the country? Without a doubt, the rise of Internet retailing giants such as Amazon.com have had a huge impact. Today, there are millions of Americans that actually prefer to shop online. Personally, when I published my novel I made it solely available on Amazon. But Internet shopping alone does not account for the great retail apocalypse that we are witnessing. In...
  • My rapidly fading love affair with Wal-Mart

    02/25/2014 1:20:12 PM PST · by Starman417 · 56 replies
    Flopping Aces ^ | 02-25-14 | Vince
    The first time I ever saw a Wal-Mart I was a grad student getting my MBA down in Tallahassee, FL. One opened up down the road from my apartment and I was immediately taken by the big bright stores with lots of stuff and what seemed to be pretty low prices. In class I learned the secrets to Wal-Mart’s success in its niche of “Always low prices”. It demanded efficiencies from its suppliers. It became fanatical about using information technology to optimize its sourcing and distribution channels. It paid its employees the community average or sometimes slightly more, but never...
  • Stocks fall sharply on weaker-than-expected claims and retail data

    02/13/2014 6:49:33 AM PST · by John W · 38 replies
    cnbc.com ^ | February 13, 2014 | Kate Gibson
    U.S. stocks fell sharply on Thursday after economic reports had more Americans than projected filing for jobless claims last week and retail sales unexpectedly falling in January. The Labor Department reported applications for unemployment benefits climbed by 8,000 to 339,000, higher than the 300,000 projected by economists. Separately, the Commerce Department reported retail sales fell 0.4 percent last month from December, versus expectations they would be flat.
  • Amazon, Home Depot go on hiring sprees for spring (Over 80,000 jobs!)

    02/12/2014 7:09:37 PM PST · by SeekAndFind · 28 replies
    Los Angeles Times ^ | 02/12/2014 | Tiffany Hsu
    Amazon.com Inc. and The Home Depot Inc., both giants in their respective retail fields, are heralding the arrival of spring with major hiring surges. E-commerce king Amazon said it will take on more than 2,500 full-time workers in several states as the company’s stable of fulfillment centers expands. The employees will be hired to pick, pack and ship customer orders at facilities in Virginia, Kansas, South Carolina, Washington and Tennessee. The online retailer said it hired more than 20,000 fulfillment center workers last year and that the median pay at the sites is 30% higher than the pay at traditional...
  • Black residents reject Trader Joe’s because it would attract too many white people

    02/09/2014 8:02:24 PM PST · by 2ndDivisionVet · 152 replies
    BizPac Review ^ | February 8, 2014 | Cheryl Carpenter Klimek
    The Trader Joe’s grocery chain has withdrawn plans to build a store in the heart of a predominantly black neighborhood after a black leadership group fought the move. The Portland Development Commission was set to give the grocer a large discount on property that had been vacant for years, pricing it at just over $500,000, down from an appraised value of $2.9 million, according to The Oregonian. The Portland African American Leadership Forum sent a scathing letter in December to city leaders, saying the plan would price residents out of the area and the group“remains opposed to any development in...
  • CVS Caremark plans to stop tobacco products sales

    02/05/2014 5:01:07 AM PST · by Red in Blue PA · 190 replies
    CVS Caremark is kicking the habit of selling tobacco products at its more than 7,600 drugstores nationwide as it focuses more on providing health care. The nation's second-largest drugstore chain said Wednesday that it will phase out cigarettes, cigars and chewing tobacco by Oct. 1, a move that will cost about $2 billion in annual revenue but won't affect its 2014 earnings forecast. CVS Caremark leaders say removing tobacco will help them grow the company's business of working with doctors, hospitals and other care providers to improve customers' health.
  • Radioshack Celebrates One Year Anniversary Of Closing 500 Stores By Closing 500 More

    02/04/2014 2:41:04 PM PST · by SeekAndFind · 58 replies
    Zero Hedge ^ | 02/04/2014 | Tyler Durden
    If it seems like it was exactly a year ago that turmoiling retailer Radioshack shut down 500 stores due to lack of consumer interest in its wares (and or consumer disposable cash), it is because it was. So how does Radioshack demonstrate its morbid sense of humor on the one year anniversary of said announcement? Well, by closing another 500, or about 12% of the retailer's total 4500 outlets currently in existence. The WSJ reports that the company which once was the butt of all LBO-rumor jokes (and still is, only this time in the context of an M&A-rumor...
  • Wal-Mart Stores Hurt by Food Stamp Rollbacks

    02/01/2014 9:01:30 PM PST · by 2ndDivisionVet · 123 replies
    NewsMax ^ | January 31, 2014 | Drew MacKenzie
    Wal-Mart stores and its Sam's Club chain are apparently hurting from the cuts in the federal food stamp program that went into effect in early November. The impact from the government's reduction in the Supplemental Nutrition Assistance Program benefits had a much greater effect on the world's largest retailer than originally expected by the company. Combined with consumer fears about the economy and winter storms that also hurt store business nationwide, the cuts made a bad situation for Wal-Mart even worse, according to a statement from Wal-Mart Chief Financial Officer Charles Holley carried by the Associated Press. The estimated $5...
  • Subway joins first lady Michelle Obama's healthy eating effort

    01/26/2014 12:10:09 AM PST · by 2ndDivisionVet · 96 replies
    Michelle Obama is getting a new ally in her campaign to get kids to eat more fruits and vegetables. The first lady was expected to announce Thursday that the Subway sandwich chain will spend $41 million over three years to encourage finicky young eaters to eat more food that comes out of the ground or grows on trees. The announcement was being made at a Subway shop near the White House. Subway will only offer a kids' menu that mirrors federal standards for school lunches. That includes offering apples on the side and low-fat or nonfat plain milk or water...
  • Walmart Will Lay Off 2,300 Sam’s Club Workers

    01/25/2014 5:45:37 AM PST · by EBH · 37 replies
    New York Times ^ | 1/24/2014 | ELIZABETH A. HARRIS
    Walmart announced on Friday that about 2,300 Sam’s Club employees would be laid off, the latest in a drumbeat of retail job cuts to start off the new year. Bill Durling, a Sam’s Club spokesman, said the layoffs would target a combination of salaried assistant managers and hourly employees. Certain positions, like telephone attendants, will be eliminated. “We realized we had pretty much the same club structure whether a club had $50 million in revenue or $100 million in revenue,” Mr. Durling said of the distribution of assistant managers. “What we’re trying to do is balance our resources.” Sam’s Club...
  • A 'tsunami' of store closings expected to hit retail

    01/22/2014 1:59:17 PM PST · by EBH · 99 replies
    CNBC ^ | 1/22/2014 | Krystina Gustafson
    Get ready for the next era in retail—one that will be characterized by far fewer shops and smaller stores. On Tuesday, Sears said that it will shutter its flagship store in downtown Chicago in April. It's the latest of about 300 store closures in the U.S. that Sears has made since 2010. The news follows announcements earlier this month of multiple store closings from major department stores J.C. Penney and Macy's. Further signs of cuts in the industry came Wednesday, when Target said that it will eliminate 475 jobs worldwide, including some at its Minnesota headquarters, and not fill 700...