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This could really take a bite out of the Big Apple. The secondhand apparel industry may be dodging duties on imported goods – but the impact of President Trump’s tariffs on thrift shops may still bring a wrecking ball to businesses across the city, resellers told The Post. “There’s a lot of rhetoric that everybody’s going to turn to second-hand [clothing] when wallets tighten,” said Alexis Krase, owner of plus-size secondhand store Plus BKLYN in Greenpoint. “But overall, I think that ultimately means people are also being more critical of spending dollars in general: Overall sales will be down.” Krase,...

So it's not an entirely new idea being proposed here by New York State representative and New York City mayoral candidate Zohran Mamdani. The Democratic Socialist put out a video explaining his plan to reduce price gouging — government-owned and run grocery stores in the city.

With eggs in short supply, some retailers around the country are putting limits on the number of cartons customers can buy at one time. The discount grocery store Lidl told a New York news outlet that certain brands of eggs sold at its stores are limited to two dozen per customer. "Specialty egg brands, including cage-free, free-range and organic, do not have limitations at this time at Lidl US," Lidl told News 12. Some customers in parts of Massachusetts were also subject to a two-carton limit, as Reddit users shared on a message board in late January. The egg shortages...

Retail store closures surged in 2024, reaching their highest levels since the start of the pandemic, a new study said.A total of 7,325 U.S. stores closed in 2024, driven by inflation and an increasing shift toward online shopping, according to retail data firm Coresight Research. The closings marked the steepest decline in brick-and-mortar retail since nearly 10,000 stores closed in 2020. While 5,970 stores opened—the highest yearly number since 2012—closures outpaced openings by a net loss of 1,355 stores. "Retailers that were unable to adapt supply chains and implement technology to cut costs were significantly impacted, and we continue to...

Kohl’s announced Thursday, Jan. 9, the closure of 27 underperforming stores, including locations in Pennsylvania, New Jersey, Massachusetts, and Virginia, as part of its 2025 real estate changes. The closures are expected to be finalized by April 2025 and are part of the company’s strategy to strengthen its store portfolio while adapting to evolving consumer trends. Among the affected locations are stores in Pennsylvania, New Jersey, Massachusetts, and Virginia. Pennsylvania Pottstown – 351 W Schuylkill Rd.New Jersey East Windsor – 72 Princeton Hightstown Rd.Massachusetts Stoughton – 501 Technology Center Dr.VirginiaHerndon – 2100 Centreville Rd.Williamsburg – 100 Gristmill Plz.Tom Kingsbury, CEO...

Macy’s, Inc. confirmed on Thursday, Jan. 9, the closure of 16 stores across Virginia, New Jersey, New York, Massachusetts, and Maryland as part of its "Bold New Chapter" strategy.The closures are among 66 Macy’s locations set to shutter nationwide, a move designed to return the company to "sustainable, profitable sales growth." The stores closing in these states include:VirginiaSouthpark MallPennsylvaniaLogan Valley MallExton Square MallWyoming Valley MallPhiladelphia Center City Store in the Wanamaker BuildingNew JerseyEssex Green Shopping CenterNew YorkLake SuccessMelville MallQueens PlaceSheepshead BayMall at Greece RidgeSunrise MallBrooklynStaten Island FurnitureFordham PlaceMassachusettsIndependence MallMarylandSecurity SquareHarford MallThe company first announced the Bold New Chapter strategy in...

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.”

National drugstore giant Walgreens will shutter some 1,200 locations over the next three years as it seeks to stem a $3 billion quarterly loss across its businesses generated by a sluggish U.S. economy. The company forecast about 500 store closures will come in the current fiscal year and should immediately support adjusted earnings and free cash flow, AP reports. Walgreens didn’t say where the store closings would take place. Its shares jumped 5.4 percent to $9.50 in premarket trading on the back of the news, Reuters reports.

Convenience store chain 7-Eleven will close hundreds of stores as the company faces declining sales at its U.S. stores.7-Eleven operates more than 13,000 stores across the United States and Canada. The company plans to shut down 444 “underperforming stores” as part of improving efficiency and managing cost, according to an Oct. 10 financial forecast presentation from the firm. The closures represent more than 3 percent of the company’s U.S. and Canadian stores. This is expected to generate approximately $30 million in operating income benefit for the retail chain this year.7-Eleven is looking to boost capital efficiency and ensure sustained business...

"The North American economy remained robust overall thanks to the consumption of high-income earners, despite a persistently inflationary, elevated interest rate and deteriorating employment environment," Seven & I Holdings said in an earnings release. "In this context, there was a more prudent approach to consumption, particularly among middle- and low-income earners."

(NEXSTAR) — Roughly 300 additional Big Lots stores are set to be closed as speculation that the company could file for bankruptcy looms. In early July, Big Lots warned in a U.S. Securities & Exchange Commission (SEC) filing that between 35 and 40 locations could shutter this year. In a new SEC filing, submitted on July 31, Big Lots said the total number of closures could reach 315, much higher than the originally agreed number of 150. Company leaders have pointed to inflation and difficulties in competing, saying they had “a substantial doubt” in their ability to continue. Between the...

Retail stores are being shut down at a staggering rate all over the country. If we stay on the pace that we are on, the total number of stores closed in 2024 will be nearly 40 percent higher than the total number of stores closed in 2023. That is what you call a crisis! Meanwhile, banks are shuttering hundreds of branches from coast to coast, and a “restaurant apocalypse” is sweeping across the nation. Everywhere around us, “space available” signs are going up on buildings that were once considered to be prime commercial real estate. If someone tries to convince...

After the Rodney King riots in LA in the early 1990s, news organizations told us endlessly that citizens were angry about the food deserts in minority communities. I remember thinking there might be another reason why there were no stores in the neighborhoods besides the implied racism. Maybe the burned husks of buildings might have something to do with it… At the time, I was living in Washington, DC and understood all too well what I was seeing. DC had endured extraordinary riots in 1968 and wide swaths of it still resembled a war zone. Riots have a way of...

St. Louis Mayor Tishaura Jones has announced new plans to make convenience store owners more responsible for the crimes committed on or outside their property. Mayor Jones, St Louis' the first black female mayor, told leaders at the the Black Mayors' Coalition on Crime in Memphis that St Louis needs to combat violent crime and theft around convenience stores. 'We have a lot of violence around convenience stores and gas stations,' Mayor Jones said on Thursday.

Discount chain Dollar Tree has announced it will raise its price cap to $7 for some store items. During a recent fourth-quarter earnings call, CEO of Dollar Tree Rick Dreiling shared, “This year, across 3,000 stores, we expect to expand our multi-price assortment by over 300 items at price points ranging from $1.50 to $7.” Due to the ongoing inflation under the Biden administration, Dollar Tree was previously forced to raise their prices from $1 to $1.25 in 2021. The $7 price cap will be implemented in the fourth quarter, and at the beginning of June, a $5 price cap...

(WKBN) — Best Buy is looking to close some stores this year and work to offer a smaller experience for customers in some markets. The company is looking to close 10 to 15 stores, following the closing of 24 stores last year, CFO Matthew Bilunas said during a fourth-quarter earnings call with investors last month. He explained that Best Buy will “close existing traditional stores during our rigorous review of stores as their leases come up for renewal.” The company cited consumer spending habits, lowering of product innovation during the pandemic, and “supply challenge years,” among other things.

Dollar Tree can't keep up with Bidenflation, changing consumer habits, and competition from other discount retailers — and will close nearly 1,000 of its Family Dollar locations around the country. The company announced the move this week following disappointing quarterly results ... "struggling to deal with a shift in consumer spending to lower-margin essentials from higher-margin discretionary products ... Even discount items .. are now out of reach for many Americans who have shifted their buying habits to even "lower-margin essentials" like food and gas. The mainstream media keeps telling me the economy is booming, but Family Dollar can't cut...

Dollar Tree to close around 1,000 Family Dollar stores. initially announced late last year, the company will close 600 of its Family Dollar stores in the first half of 2024. An additional 370 Family Dollar stores and 30 Dollar Tree stores will close over the next several years once their leases expire, the company said in its fourth-quarter earnings report. https://www.foxbusiness.com/lifestyle/dollar-tree-to-close-nearly-1k-stores

Unemployment may be low, jobs plentiful, and consumer spending holding up. However, consumers are still struggling with the rising cost of credit card debt, housing, and automobiles—expenses that defy easy solutions. However, managing the cost of groceries and other essentials, the leading expense for half the respondents in a recent TD Bank survey, is just a click or short drive away. As consumers pull back on discretionary spending, major retailers in the grocery business are doubling down on the power of private-label brands to build traffic and loyalty. The boom is on. Amazon, which owns Whole Foods and Amazon Fresh,...

(1/31/24 story) On the heels of Safeway's decision to keep its Fillmore grocery store open until January 2025, one San Francisco supervisor wants to regulate grocery store closures in the city to ensure local communities are not blindsided. Why it matters: The proposal is an effort to ensure food security throughout the city and is a direct response to Safeway's announcement and subsequent reversal of its decision to close its Fillmore supermarket, the only full-service grocery store in the neighborhood, in March. What's happening: Supervisor Dean Preston plans to officially introduce an ordinance, dubbed the Neighborhood Grocery Protection Act, that...