Keyword: retail
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Walgreens Closes NYC Stores… Because of Theft Cash Jordan 1.05M subscribers 260,719 views Nov 3, 2024 Walgreens is quietly shutting down multiple NYC stores that are "underperforming" for multiple reasons cited by the brand including unsustainable losses from retail theft, combined with lower consumer spending & lower profit from prescriptions.
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Retailers are facing a tough equation as they head into the all-important holiday shopping season — this time over DEI initiatives. Companies are bracing for blowback related to policies around diversity, equity and inclusion and are hoping to avoid alienating customers who may deem the brands too woke – or not woke enough. Some are tapping outside advisors for advice on how to avoid criticism, while others are opting out of public events on the topic as backlash against equity and inclusion programs grows in the lead-up to the 2024 presidential election. CNBC spoke with a number of retail industry...
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Stores across America are shutting down left and right as shoppers are unable to afford to spend money on non-essentials. CNN Business reported on Friday that so far in 2024, major retailers have said they are closing down 6,189 stores. That number surpasses the 2023 total of 5,553, per Coresight Research, the article said. “Chains are on track to close the highest number of stores in 2024 than any year since 2020, when the Covid-19 pandemic decimated the industry.”
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BUTLER COUNTY, Pa. — A man from Romania is facing charges after police say he encouraged teenage girls to steal makeup from two CVS locations. Court documents say on Friday, the two girls took nearly $3,000 worth of Maybelline makeup from CVS stores in Wexford and Mars. Investigators determined the girls were picked up by a dark sedan after taking the makeup. Police tracked down the alleged getaway car on Sunday and found Vasile Ionita, 21, of Romania, driving. Ionita is charged with retail theft, theft by unlawful taking and corruption of minors.
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Target is slashing prices on 2,000 items, marking the second time this year that the retailer cut customer costs as it attempts to attract inflation-weary shoppers ahead of the holiday shopping season. Some prices have dropped effective immediately on a number of items, including home goods, beauty products, food, beverages and toys. In a press release, Target said it “routinely adjusts its prices to remain competitive in markets across the country” and the discounting will continue through December. Target’s price cuts have boosted customer spending after a string of dreadful quarters for the company. Discounts helped turn around Target’s fortunes:...
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A former Target executive and retail expert is warning of a not-so-jolly holiday shopping season as Americans struggle in President Joe Biden (D) and Vice President Kamala Harris’s (D) economy. Former Target Vice Chairman Gerald Storch said during an interview on Fox Business Thursday, “It’s very clear that consumers are running out of money.” “They’re increasingly stressed by inflation and the exhaustion of their pandemic-era savings. When you take a look over the last several years, what you see month after month, everyone talks about, the consumer’s still spending. They might be, but they’re spending less than the growth of...
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In keeping with the analysis I did in recent Deeper Dives about how all the good news in economics these days appears to be adjusted into place, we have another clear example today that I'll share with all. The mainstream media is crooning over the strong economy as usual, praise they are prone to make now that we re less than a month from the election. So, let’s start with what Bloomberg had to say: US Retail Sales Showcase Resilience of Economy’s Growth Engine A splendid title with very shiny words like “showcase” alongside another endless reminder that the economy...
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DENVER — The Natural Grocers store in Denver’s Capitol Hill neighborhood is set to close at the end of the month. Natural Grocers, headquartered in Lakewood, has 169 stores in 21 states. On Wednesday, the company announced that the Denver store located at 1433 Washington St. will close on Oct. 31. The company said operational challenges like retail theft and safety issues are impacting the store’s performance. “We have been actively working to address the theft and safety issues impacting our store at Colfax and Washington for some time. Despite our investment in security and loss prevention strategies over the...
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COMPTON, Calif. -- More and more stores across the Southland and the country are taking stricter measures to fight a growing epidemic of shoplifting. At least one Rite Aid store in Compton appears to be taking security to the extreme. The store on Long Beach Boulevard installed locked glass cases on every aisle, meaning a majority of items for sale apparently require the assistance of a store employee. It's a sign of a growing and disturbing trend that's been seen in social media videos and news reports of shoplifters taking items from retailers without significant resistance by employees or security....
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CHARLOTTESVILLE, Va. (CBS19 NEWS) -- A new convenience store has opened up on UVA Grounds. Gaston's Market located on Brandon Ave is a no-wait checkout-free retail store that sells food, drinks and essentials at all hours of the day. The unique aspect of Gaston’s Market is that it is an AI-powered convenience store, meaning there’s no cashier.
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There are plenty of good web browsers to use, and Firefox and its Waterfox spinoff, most of the time, are good. But I noticed something the other day about both of them. I was trying to log onto this Conservative shopping site called “Patriot Depot”, and when I would put the web address in, it would automatically re-direct to Google. This was true for both of them. I tried this with my other browsers, and the site came on just fine with them. Perhaps some lefty programmer at Firefox put a re-direct as a practical joke. If true, given that...
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Dick's Sporting Goods on Wednesday said that it was the victim of a cyberattack, according to a Securities and Exchange Commission (SEC) filing. The sporting goods chain said in a regulatory filing that on Aug. 21 it "discovered unauthorized third-party access to its information systems, including portions of its systems containing certain confidential information." MASSACHUSETTS REVEALS CAUSE OF 911 OUTAGE The company said it immediately "activated its cybersecurity response plan and engaged with its external cybersecurity experts to investigate, isolate and contain the threat." The company said it also notified federal law enforcement regarding the incident and that the investigation...
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Nordstrom is closing two corporate offices and asking some employees to relocate to its Seattle headquarters, GeekWire has learned. Nordstrom confirmed that it will let leases expire at its offices in Los Angeles and Chicago, citing low usage of the spaces as a primary reason for the decision. Most employees based in those cities will transition to full-time remote roles while others will be required to relocate to Seattle, the company said. It will use store locations in Los Angeles and Chicago for smaller team gatherings.
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Shoplifting has spiked across the country so far this year — even as many major crimes like homicide dropped back to pre-pandemic levels, a major national crime study showed. Rates of shoplifting rose an average 24% during the first half of 2024 compared to the same period last year, according to the Council on Criminal Justice’s (CCJ) Mid-Year Crime Report released Thursday. The study reviewed crime statistics from 23 cities across the US, finding shoplifting has steadily been on the rise since the country began emerging from the COVID-19 pandemic around 2022. Shoplifting has gotten lots of attention in recent...
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Washington, Arizona, Colorado, California, and Oregon would see the biggest number of stores flipped to C&S.. Kroger and Albertsons have released a list of hundreds of stores that would be divested to C&S Wholesale Grocers if federal regulators approve its proposed $24.6 billion merger deal, and the states with the largest numbers include Washington, Arizona, and Colorado. Under the proposal, Kroger and Albertsons would divest stores in Washington (124), Arizona (101), Colorado (91), California (63), Oregon (62), Illinois (35), Texas (28), Nevada (16), and Alaska (18). Several states would see 10 or fewer stores divested, including: Idaho (10), New Mexico...
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Grocery store prices are changing faster than ever before — literally. This month, Walmart became the latest retailer to announce it’s replacing the price stickers in its aisles with electronic shelf labels. The new labels allow employees to change prices as often as every ten seconds.“If it’s hot outside, we can raise the price of water and ice cream. If there's something that’s close to the expiration date, we can lower the price — that’s the good news,” said Phil Lempert, a grocery industry analyst. Apps like Uber already use surge pricing, in which higher demand leads to higher prices...
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Target plans to crack down on retail theft by lowering the threshold for how much shoplifters can swipe before employees are allowed to finally step in, according to a report. The Minnesota-based big box retail chain — which has blamed retail theft for hurting its bottom line — instructed store staff to halt bandits who try to flee with items totaling $50, down from the previous sum of $100, Bloomberg News reported Thursday.
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Target will no longer be accepting personal checks as a form of payment at its stores beginning later this month, the company confirmed.The Minnesota-based big-box retail chain will stop taking checks this month due to “extremely low volumes,” of such payments, a spokesperson told NBC Chicago.The company has taken “several measures” to notify customers in advance, the spokesperson added.The change will go into effect on July 15 following the end of Target’s popular Circle Week sales event.While personal checks will no longer be accepted, the store will still take cash, credit and debit cards, Target Circle Cards, digital wallets, SNAP/EBT...
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Saks Fifth Avenue parent HBC said on Thursday it will acquire Neiman Marcus Group in a $2.65 billion deal combining the storied retailers. The combination will establish Saks Global, which will include Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus’ namesake department store chain and Bergdorf Goodman. “We’re thrilled to take this step in bringing together these iconic luxury names,” HBC CEO Richard Baker. said in a statement. “For years, many in the industry have anticipated this transaction and the benefits it would drive for customers, partners and employees.” “This is an exciting time in luxury retail,” Baker added, citing...
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Lego’s fanbase, which famously cuts across kids, teenagers and grownup collectors, is seeing some unsavory characters break into the mix, and for all the wrong reasons. Lego products, especially the pricier sets that range from over $100 to $1,000 or more, are being targeted for theft both by individual shoplifters and larger organized retail crime rings who make a beeline for sets sitting on store shelves because they can fetch a good profit at resale both in legal and illegal channels. Miguel Zuniga, who operates a Bricks & Minifigs Lego resale franchise store in Lumita, Los Angeles County, is still...
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