Nearly a year after the Staples-Office Depot lovefest ended in a broken engagement following federal regulators’ anti-trust lawsuit, Staples is ready to move on, apparently with a private equity firm. [More]
retail
Ralph Lauren Closing Flagship Polo Store, Cutting Jobs To Save Money
By 4.4.17 — Updated: 5.10.17
In Ralph Lauren’s latest effort to save some cash amid slumping sales and better compete with fast fashion, the company says it will be closing some stores — including its flagship Polo location in New York City — cutting jobs, and restructuring its e-commerce operations. [More]
J. Crew Could Be In For A New Look After Exit Of Creative Director
By 4.3.17 — Updated: 4.25.17
Times are tough for retailers, so stores are trying to shake things up. If, like J. Crew, you’re a clothing retailer that only sells your house brand, the exit of your longtime creative director might be a step toward turning around flagging sales. [More]
Amazon Debuts ‘Amazon Cash’ As A Way For The Unbanked To Shop Online
By 4.3.17 — Updated: 5.10.17
Shopping online can provide savings and convenience, but more than 25% of U.S. households have either no bank account or rely on non-bank products and services to handle their finances. In an attempt to reach those potential customers, Amazon has launched “Amazon Cash.” [More]
Number Of Big Retail Bankruptcies In 2017 Already Equal To All Of Last Year
By 3.31.17 — Updated: 4.1.17
We’re only three months into the year and already the retail battlefield is littered with the corpses of nine brands that have filed for bankruptcy — the same number that filed in all of 2016. [More]
Amazon Vs. Walmart Battle Means Lower Prices For You; Headaches For Manufacturers
By 3.31.17
Amazon can now deliver many things in one or two days, so Walmart has to have lower prices for the many customers who can wait. Similarly, Amazon has to undercut Walmart’s grocery prices if it’s going to stake out any significant portion of that $800 billion market. For shoppers at either of these two retail giants, this can mean lower prices, but it’s also forcing manufacturers and suppliers to rethink how they do business. [More]
This 18-Year-Old Would Not Sell Urban Outfitters 10,000 Of His Hats
By 3.30.17
Imagine you’re selling your own line of clothing, and a major retailer asks to buy a few thousand of your designs and sell them in stores. You might be tempted to sign on the dotted line for your shot at the big time with the help of an established chain, but for the social media savvy among us, that’s just not a priority. [More]
H&M Has Too Much Stuff, Needs To Get Rid Of It At Discount
By 3.30.17
As we’ve been reporting for some time now, it’s hard out there for retailers trying to compete for customers. H&M has had a particularly tough time competing in “fast fashion,” what with its late entry into e-commerce and stiff competition from brands like Zara. But what’s bad for H&M could be good for shoppers looking for hefty discounts. [More]
Target Recalls 19K Tic-Tac-Toe Boards Over Magnet Choking Hazard
By 3.29.17 — Updated: 5.10.17
There’s just something about shiny little things that makes children – and some adults – put the objects in their mouths. But that’s dangerous and even more hazardous when the object happens to be a magnet. To that end: Target is recalling thousands of magnetic tic-tac-toe boards. [More]
New Focus On Small Businesses At Staples Means Co-Working Spaces, K-Cups
By 3.29.17
What is Staples? The company’s leaders probably wouldn’t be pleased to hear you say, “The place where I go for printer cartridges when I can’t wait for an online order,” but plans to change consumer perceptions by offering things small and medium businesses need, from office space to coffee pods. [More]
Target Employees Prevent Couple From Losing $4K To Grandparent Scam
By 3.29.17
Every once in a while, a good samaritan — and an informed retail employee — stops customers from becoming victims of a costly scam. Such was the case for a pair of Target employees being lauded for recently helping to prevent a Virginia couple from losing thousands of dollars to the so-called “Grandparents scam.” [More]
Samsung Store Catches Fire, Cause Unknown
By 3.28.17
As if Samsung hasn’t had enough problems involving explosions or fires when it comes to its devices: A fire began in the backroom of one of the company’s retail stores in Singapore early today. [More]
Woman Dressed As Target Employee, Stole $40K In iPhones
By 3.28.17
A Target store in Virginia is missing more than $40,000 worth of iPhones after police say a woman masquerading as an employee simply walked out of the store with the devices. [More]
Walmart’s Jet.Com Charged Me Sales Tax On Tax-Exempt Items. What Can I Do?
By 3.28.17 — Updated: 5.10.17
We understand that sales taxes can be a nightmare for a retailer trying to sell to everyone everywhere at once. What’s taxed in one state is tax-exempt in another, and then a third state only taxes that product above a certain dollar value. Most major online retailers have figured out this mess, but what do you do when a website charges you tax on an item that you know is exempt? [More]
Amazon Delays Opening Of Checkout-Less-Convenience Store
By 3.27.17
If you were hoping to stop by one of Amazon’s new new checkoutless, cashier-free convenience stores soon, you’ll have to put that plan on hold: A new report says the company isn’t quite ready to open Amazon Go to the public due to technical difficulties. [More]
Here’s How Macy’s Is Trying To Lure Shoppers
By 3.24.17
Despite the closure of dozens of stores and an all-but-dead takeover deal, Macy’s isn’t quite ready to throw in the ol’ retail towel. Instead, the company is focusing on the future, implementing new services, revamping store features, and revising coupons in a bid to bring in shoppers. [More]
GameStop Closing At Least 150 Stores This Year Amid Falling Sales
By 3.24.17
Efforts by GameStop to drum up business — through the phenomenon that was Pokemon Go and diversifying its portfolio by acquiring more than 500 new AT&T dealer stores — were no match for consumers’ changing preference for digital downloads over physical copies. To that end, the struggling retailer will close at least 150 stores by the end of the year. [More]
Bebe Reportedly Closing Stores, Going Online Only
By 3.21.17
Women’s apparel chain bebe is reportedly the latest retailer leaving the mall behind. But instead of completely closing shop like The Limited and WetSeal, the company plans to take its business online only. [More]
