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Jerry Storch, a former CEO of bankrupt Toys R Us, is reportedly considering reviving the toy retailer and has been working with investors and bankers to stitch his plan together. Bloomberg reported Monday afternoon that Storch has been working with Credit Suisse Group as a financial advisor, based on the news outlet's conversations with people familiar with the situation. Talks have also included Fairfax Financial Holdings, the investment firm that acquired the Canadian unit of Toys R Us, those sources told Bloomberg. Storch declined CNBC's request for comment. Toys R Us, Credit Suisse and Fairfax didn't immediately respond to CNBC's...

PHOENIX — Korean-inspired cooking sauces made by a Mesa grandmother will soon be on Walmart shelves. Kay Weldon cooked up the first sauce in the 1990s when she owned a restaurant in Albuquerque, New Mexico. A favorite among customers was her chicken wings because of her sauce. She started out serving the chicken wings as part of a Friday lunch special. “It was sweet, tangy and spicy,” she said. “It was a big hit. My lunch line was 11:30 a.m. to 2:30 p.m. nonstop on Fridays.” Ten years later, she sold the restaurant, got married and moved to Arizona with...

The Gangnam district is known as "South Korea's Beverly Hills" for its exorbitant real-estate prices and wealthy residents. •Property in Gangnam is three and a half times as expensive as South Korea's real-estate average. •The Gangnam neighborhoods of Cheongdam and Apgujeong are full of luxury fashion houses, plastic-surgery clinics, high-end real estate, and the homes of many Korean celebrities. •PSY's international song "Gangnam Style" famously lampooned the wealthy district, which has an outsized reputation in Korean culture. Ever since PSY's international mega-hit "Gangnam Style" in 2012, people all over the world have heard the name of Seoul's most affluent district....

GOODLETTSVILLE, TN - Dollar General is looking to make a dollar go a long way, quite literally. The company is revving up for a 7,000 person hiring spree over the course of the next 10 days, with management roles to fill in 44 states, to boost the organization’s continued growth—an initiative that supports its FY 2018 plans. The positions range from roles at retail operations to those at distribution centers and corporate and can be found online here. “It’s an exciting time to join Dollar General as we seek qualified candidates to support our tremendous growth,” said Bob Ravener, Executive...

Business News June 14, 2018 / 7:34 AM / Updated an hour ago U.S. retail sales surge in May; weekly jobless claims fall Lucia Mutikani 5 Min Read WASHINGTON (Reuters) - U.S. retail sales increased more than expected in May as consumers bought motor vehicles and a range of other goods even as they paid more for gasoline, the latest indication of an acceleration in economic growth in the second quarter. FILE PHOTO: A woman shops at an H&M store in New York City, U.S. December 23, 2017. REUTERS/Stephanie Keith/File Photo Other data on Thursday showed a further tightening in...

oys R Us isn’t paying severance to its 30,000 workers who will lose their jobs as the retailer shuts down, even though it doled out millions in executive bonuses a week before it filed for bankruptcy. Now, some workers are calling on lawmakers to create new rules that would require bankrupt companies backed by private-equity firms to provide compensation to their workers.

(CNN Money) — Back in February, Dick’s Sporting Goods made a bold decision to stop selling assault style rifles and high capacity magazines, and to raise the minimum age to purchase a gun to 21. Executives there braced for pain. Instead they got good news. Dick’s Sporting Goods stock price surged by as much as 27% after it reported stronger than expected quarterly sales and profit Wednesday. It’s the first measure of their decision to pull away from some guns.

Sears has identified another 100 unprofitable stores. It will begin closing sales at 72 of these stores "in the near future." The retailer said it continues to evaluate its store fleet and will make further adjustments "as needed and as warranted." Sears Holdings said Thursday it will be closing more than 70 additional stores in 2018 as its sales continue to erode, dropping more than 30 percent in the latest quarter from a year ago. The retailer has identified 100 unprofitable stores in total, and it will begin closing sales at 72 of these stores "in the near future." "We...

Big brands like Toys R Us and Bon-Ton liquidating their businesses might paint a gloomy picture for the retail industry, but smaller brands say there couldn't be a better time to grow. Direct-to-consumer businesses like Bonobos and Warby Parker have paved the way from online stores to bricks and mortar. Others are following — in droves — and could help fill the glut of vacant real estate on the market in the U.S. Like Warby Parker and Bonobos, these up-and-coming brands are being cautious, opening locations at a measured pace and setting up primarily where they have large followings online....

The supermarket giant acknowledges its support of Adam Putnam has "led to a divide in our community." Publix, facing consumer boycotts, student protests and threats to its wholesome image for its generous support of Adam Putnam's bid for governor, announced Friday it is suspending all corporate campaign contributions immediately. The popular retailer, facing a rapidly escalating public relations crisis fueled largely by social media and the debate over guns, issued a statement at the start of the three-day Memorial Day holiday weekend acknowledging the "divide" that it has caused by its unprecedented financial support of Putnam's campaign. "At Publix, we...

Marvin Ellison's exit as CEO of J.C. Penney means the struggling department store chain can't be turned around, CNBC's Jim Cramer said Tuesday. Loading... J.C. Penney shares plunged Tuesday after Lowe's announced it is naming Ellison president and CEO, effective July 2. J.C. Penney, which has struggled to compete within the quickly changing retail landscape, told CNBC that it was informed by Ellison a couple days ago of the move. "If there was any chance [of a turnaround], I think you would stay," Cramer said on "Squawk on the Street." "Because it would obviously be such a kick in the...

Dead malls are popping up all over the states, particularly in the Midwest, where economic decline has sped up the "going out of business" process. This map, put together by a Dead Malls Enthusiasts Facebook group, shows that well. As Americans are faced with multiple shopping options and more stores are leaving malls, it should be interesting to see if malls and mall culture will survive. What you are about to see is what happens when malls are abandoned. It's apocalyptic and really, really creepy....

Dick’s Sporting Goods has just lost a ton of business due to its politically correct gun control move, post-Parkland school shooting. O.F. Mossberg & Sons Inc., which owns Mossberg guns, announced they would no longer deal with Dick’s. And that was just after MKS Supply, the maker of Hi-Point firearms, and Springfield Armory pulled business from Dick’s as well. The backlash is hardly surprising. Mess with Americans’ guns and Americans will use their voices — via purchasing power — to mess back. Dick’s made a sorry misstep in the wake of the horrific Parkland shooting by announcing the end of...

The nation’s largest firearms trade association expelled Dick’s Sporting Goods on Friday morning, citing the retailer’s decision to hire multiple gun control lobbyists. The vote to expel Dick’s from the National Shooting Sports Foundation, or NSSF, was unanimous, the group said in a press release issued Friday morning. “The National Shooting Sports Foundation® (NSSF®), the trade association for the firearms, ammunition, hunting and shooting sports industries, Board of Governors today unanimously voted to expel Dick’s Sporting Goods from membership for conduct detrimental to the best interests of the Foundation,” the group announced.

Springfield Armory® Severs Ties with Dick’s Sporting Goods Springfield Armory announces its decision in response to Dick’s Sporting Goods’ attempts to deny Second Amendment freedoms GENESEO, IL, (05/03/18) – Springfield Armory is severing ties with Dick’s Sporting Goods and its subsidiary, Field & Stream, in response to their hiring a group for anti-Second Amendment lobbying. This latest action follows Dick’s Sporting Goods’ decision to remove and destroy all modern sporting rifles (MSR) from their inventory. In addition, they have denied Second Amendment rights to Americans under the age of 21. We at Springfield Armory believe that all law abiding American...

For over a century, Chicagoans grew up with a signature memory: special days downtown, shopping at Marshall Field’s and Carson’s, the great rival retail giants down the block from each other on State Street. (shown here: Carson's longtime downtown landmark by Louis Sullivan, sold off years ago). Smaller stores came and went, but Field’s and Carson’s were the giants, the dominant figures in Midwestern retail for generations. Macy’s bought out the struggling Field’s chain over a decade ago and cremated the brand name while keeping the stores. Carson, Pirie, Scott & Co. wasn’t so lucky; its current holding company, Bon-Ton,...

A white Starbucks barista probably violated company policy when she handed over a free coffee to a black man who demanded it in the name of race “reparations.” Bryan Sharpe, who goes by “Hotep Jesus” on Twitter, filmed himself going into a Starbucks store to demand a “free coffee” because they’re “racist.” __________________________________________________ Starbucks is racist https://t.co/fPf3ERMlXX — Hotep Jesus 🧠 (@VibeHi) April 15, 2018 __________________________________________________ “I heard ya’ll was racist, so I came to get my free coffee,” Sharpe says in the video to the white barista taking his order. “I saw that!” the girls responds. “I heard you...

Dick’s Sporting Goods announced on Monday it will destroy all of the unsold firearms it pulled off store shelves in February after the deadly Parkland school shooting. The sports retailer decided to destroy the assault-style rifles instead of returning them to the manufacturer, the Pittsburgh Post Gazette reported. On Feb. 28, 2018, the Pittsburgh-based company announced it would immediately stop selling assault-style rifles and ban the sale of all guns to anyone under 21. It was not immediately clear how many firearms will be destroyed. “We are in the process of destroying all firearms and accessories that are no longer...

Dick’s Sporting Goods has announced plans to destroy the modern sporting rifles, magazines and accessories they pulled from their shelves in recent weeks. That’s the word from a corporate spokesperson asked about pallets of inventory removed from displays nationwide. The sporting goods dealer’s mouthpiece said the firearms would be destroyed at regional distribution centers and the parts sent to a salvage yard for recycling. Dick’s made the arbitrary policy change, deciding against selling America’s favorite rifle along with standard capacity magazines and other accessories amid a frenzy of post-Parkland corporate virtue signaling. The beleaguered company‘s CEO, Ed Stack, also decided...