Consumers are cutting back — and the AP says that shoppers are abandoning Target for even cheaper stores. In addition, Target’s credit card division is running into trouble as shell-shocked shoppers aren’t able to pay their bills.
retail
Animation: Target's Spread Across The U.S.
By 2.23.09
Last summer, we highlighted an ominous-looking animation that traced the spread of Walmart stores across the American landscape over the past 5 decades. Now the same guy behind that map has put together a new one, this time tracing Target’s growth.
When The Economy Gets Tough, The Tough Play Video Games
By 2.19.09
As pretty much every retailer imaginable aside from Walmart loses money — one chain is not only doing fine, it’s actually growing — GameStop. It seems that when the going gets tough — people just want to play video games.
Embezzling Fry's VP Once Gambled Away $8 Million In ONE DAY
By 2.17.09
The LA Times is reporting that former Fry’s executive and accused embezzler, Omar Siddiqui, once gambled away $8 million in a single day. According to the IRS, Mr. Siddiqui financed his gambling by taking at least $65.6 million in kickbacks from Fry’s suppliers. He’s been charged with money laundering and fraud, and if convicted, he faces 140 years in prison.
By 2.14.09
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The New York Times’ Bits Blog posits a terrifying idea: what if they bring back Clippy to work the floor in the new Microsoft retail stores? “It looks like you’re trying to run out of the store in disgust!” [Bits]
Walmart Steals Your Cart Because You Won't Let Them Check Your Receipt
By 2.13.09
Lisa says a Walmart greeter grabbed onto her cart and and wouldn’t let her leave because she refused to let the greeter check her receipt. That, my friends, is not legal. Sure, it would make life a lot easier if people just acquiesced to the receipt-checking, but it’s not the law. It is against the law, however, to unlawfully detain a customer. Here’s Lisa’s account:
Starbucks Lays Off 870 Assistant Store Managers
By 2.11.09
Starbucks announced today that they will be laying off 870 assistant store managers and not filling 530 vacant positions. In addition, 500 non-store positions will also be eliminated. Read the memo inside.
Store Cards Turning Into A Nightmare For Retailers
By 2.10.09
Our eyes shoot fire when stores make their poor employees harass us about opening a store card, so we’re feeling a perverse sense of joy at the news that store cards are turning into a nightmare for retailers.
Best Buy Employee Arrested For Stealing Credit Cards
By 2.10.09
Uh oh, another Best Buy employee has been caught swiping data from customers. Unlike the woman last August who went on small time shopping sprees, this woman was caught using a card reader to swipe and store info on as many as 4,000 customers at the Best Buy store located at 1880 Palm Beach Lakes Blvd in Palm Beach, Florida.
Fortunoff Files For Bankruptcy (Again)
By 2.5.09
Regional jeweler Fortunoff has thrown in the towel and filed for bankruptcy today. The retailer cited terrible holiday sales, a “severe liquidity crisis” in January, and the cost of expanding its jewelry line into Lord & Taylor stores as reasons. Fortunoff was brought out of an earlier bankruptcy about a year ago by a private equity firm, but it didn’t take.
Walmart Greeter Attacked By Cop During Receipt Check Suing For $21 Million
By 2.3.09
Remember the Walmart greeter that got attacked by a cop during a receipt check? Well, he’s suing for $21 million, says Chattanooga’s News Channel 9.
Use Potato Chips To Report Bad Best Buy Employees
By 2.3.09
An insider tells us the best way to get back at a bad Best Buy employee is a bag of potato chips:
Macy's Fires 7,000 People
By 2.2.09
Macy’s is slaying 7,000 positions from its payrolls. No news about any store closing so far. Things are not looking good for retail stores with large stores in the physical universe these days. Economy = asteroid, creating large dust cloud over planet so the sources of food for the dinosaurs dries up, which is very sad for the massive reptiles, but then it creates space on the food chain for small furry mammals to thrive. Cockroaches, too, though. [Marketwatch] (Photo: u2acro)
By 1.30.09
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The economy might be in a tailspin, but Amazon.com is doing just fine. “Amazon’s net profit rose 9 percent, to $225 million, or 52 cents a share, in the quarter that ended on Dec. 31, up from $207 million, or 48 cents, in the same quarter a year earlier,” says the New York Times.
Consumer Crusader Sets Sights On DTV Coupon Tax Law
By 1.29.09
Remember Mary Bach? She’s the Pennsylvania woman who makes a hobby of suing retailers for not following her state’s tax laws. Well, this time she’s caught CVS charging sales tax on DTV converter boxes. Tsk, tsk.
Bid Adieu To Home Depot's Expo Stores
By 1.26.09
Home Depot will close 34 “Expo Design Center” stores as the demand for massively overpriced toilets and light fixtures appears to be waning. Actually, never mind… Home Depot says that Expo was always a failure. “Even during the recent housing boom, it was not a strong business,” they said.
Video: The Brooklyn Target, "An Abortion Of Retail"
By 1.20.09
Here’s part 2 of FIPS investigation into why the Target at the Brooklyn Atlantic Center is the Worst Target Ever Created. Their video crew probes more into the shelves that are at best, disheveled, and at worst, empty. When we posted the first video, some said Target should get a break, they’re recovering from the holidays. Well, this one was shot 15 days after the holidays. It still looks like crap. It also looked like crap before the holidays too. The real culprit? Management that doesn’t care and poorly trained employees. C’mon, Target Corp, you need to send an attack squad to fix this store. It looks like a freakin’ TJ MAXX. Video inside [NSFW, curseywords].
Urban Outfitters Employee Likes Being Flashed, Will Force You To Play Along
By 1.17.09
Miriam got a rude surprise at Urban Outfitters yesterday when she was trying on some clothes. Loud music doesn’t cover up the nipples, people; keep the changing room doors shut, or at least don’t laugh about it after exposing a customer.
