Earlier this week, a bankruptcy judge approved a $243 million bid from a group of mall landlords, liquidators, and a licensing company that would save 229 of Aeropostale’s 720 stores from closing their doors forever. Things are looking even better than expected now for the teen retailer, as its new owners say they’ll be able to keep open 171 more stores than originally planned. [More]
A man who used to work as a lighting designer for QVC treated himself to a bit of a shopping spree on the company’s dime, pleading guilty to stealing about $1.5 million from his former employers. [More]
We’ve come a long way from the days of glistening abs stretching across every Abercrombie & Fitch billboard and shopping bag, and “cool” executives who’d rather not deal with any uncool customers: as the company continues its campaign toward wholesomeness, the new focus is on making shoppers feel good about themselves. [More]
While it’s not entirely unheard of to see prices listed in euros stateside, a new federal class action lawsuit claims that retailer Zara’s practice of doing so — and allegedly making up its own exchange rate — has tricked shoppers into paying more than they should.
It’s no secret why Walmart bought Jet.com for $3 billion: the company’s e-commerce know-howo and experienced could be the key to the brick-and-mortar retailer’s plans of catching up with Amazon, finally, after all these years. But now that the honeymoon is over, it’s time to look at how, exactly, this marriage will work. [More]
Maybe it’s just because Foot Locker had sales growth to report because people are snapping up higher priced- basketball and running shoes, but the company’s CEO seems to be in a very positive mood about the state of malls in the U.S., which is surprising at a time when other mall-based retailers are struggling. [More]
A few years ago, Gap realized that telling its customers to “Dress Normal” wasn’t such a great idea: customers were turned off, and sales plummeted. That air of normalcy is still plaguing the company. [More]
What would the retail landscape look like if we didn’t have the Internet and online shopping? No one can say, for sure (unless you know someone who can travel to parallel universes*), but one analyst says there’d be about 1.2 million more people with jobs in retail. [More]
Whereas it used to feel like you couldn’t turn around at Victoria’s Secret without facing a wall of pushup bras, the company is now focused on a different kind of pushup — the sort you do while exercising and wearing a sports bra. [More]
Often when a shopper is loyal to a brand, product, or company, it’s simply because they have a long history with it. That’s why retailers are trying to hook college-age students now — even before full-time jobs bring them a disposable income — in the hopes that they’ll become lifelong shoppers. [More]
After taking a few weeks to weigh its options, Aeropostale says it won’t be able to manage a reorganization under bankruptcy, and instead is getting ready to auction off all its assets in the coming weeks. It’s also taking fire at the lender it claims pushed it into bankruptcy in the first place.
While Target and Walmart have convinced millions of shoppers to buy groceries at the same store where you buy your furniture, towels, TVs, and just about anything else, traditional supermarket chains have not made much of a push to sell clothing to customers popping in to stock up on eggs, milk, and bread. But one Hy-Vee store in Minnesota is hoping to open shoppers’ eyes to a brave new world by including a clothing boutique alongside all the groceries.
Macy’s hasn’t had to face a workers’ strike since 1972, and it looks like that streak won’t be broken, now that the company and the union representing thousands of workers in the New York City area have reached a tentative deal. [More]