Earlier this year it looked like Hudson’s Bay — the company behind Saks Fifth Avenue, Lord & Taylor, and Gilt — was looking to expand its footprint by way of purchasing either Macy’s or Neiman Marcus. Now, the retailer looks to be doing the opposite and cutting back by eliminating some 2,000 positions amid lower than expected sales. [More]
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4 Things You Should Know About The Ongoing Retail Apocalypse
By 5.19.17
To say that the retail industry has been having a tough go of it in 2017 would be a huge understatement, what with scores of retailers shuttering stores or closing up completely. It’s already been a record-setting year for retail bankruptcies, and it’s not even halfway done. Sadly, the second half of 2017 doesn’t look any better. [More]
Target Still Hopeful For Turnaround As Its Shoppers Spend Less At Store
By 5.17.17 — Updated: 5.25.17
Americans are still shopping at Target, but they aren’t buying as much as they did before. That’s a huge problem for the retailer, which claims to have some tricks up its sleeve to turn things around. [More]
6 Things We Learned About Walmart’s Love-Hate Relationship With Online Sales
By 5.4.17
Despite decades of being the biggest name in bricks-and-mortar retail, Walmart has yet to repeat that success online. The company recently went on an e-commerce buying spree — snapping up Jet.com, ModCloth, MooseJaw, ShoeBuy, and possibly Bonobos — but will that be enough to compete with Amazon? [More]
In Battle For Supermarket Shelf Space, Big Brands Losing Ground To Fresh Food
By 5.1.17
For decades, your typical supermarket had one wall of produce, and a corner deli counter, with the core of the building given over to boxed, canned, and bottled products from recognizable brands. But as grocery stores revamp stores to attract shoppers looking for fresher food, companies like Kraft, Mondelez, and Kellogg are losing ground. [More]
Chipotle Reveals Payment System Data Breach (Will Also Start Selling Dessert)
By 4.26.17 — Updated: 5.9.17
Burrito chain Chipotle is just beginning to rebound after a number of high-profile food borne illnesses, but last night the company revealed a bit of not-great news: Its payment system was hacked for several weeks. [More]
New Big Macs, Cheaper Drinks Help Boost McDonald’s Sales
By 4.25.17
Last year, McDonald’s had all-day breakfast to thank for a boost in sales, beating earning expectations. Now, the company has its three sizes of Big Macs and cheaper drinks to hang its fatter wallet on. [More]
Bankrupt Gander Mountain Could Have A Buyer, Allowing Stores To Stay Open
By 4.25.17
When specialty sporting goods retailer Gander Mountain recently went bankrupt, the future of the company’s physical locations was in doubt. Now comes a report that there may be a buyer for Gander Mountain that could keep some of the chain’s stores open. [More]
Bebe To Close All 180 Stores; Future Plans Uncertain
By 4.21.17
The rumors that women’s clothing retailer bebe might exit the mall and go online-only were apparently true, as the company has announced plans to shutter all 180 of its stores this spring. [More]
Bank Regulator Knew Of Problems At Wells Fargo In 2010, Did Nothing
By 4.20.17 — Updated: 5.9.17
Now that Wells Fargo has completed its internal investigation into the fake account fiasco that resulted in millions of bogus accounts being opened in customers’ names, one federal banking regulator is admitting that it was aware of hundreds of related complaints nearly a decade ago, but failed to do anything to correct the problem. [More]
Some Marijuana Dispensaries Pull Pot Possibly Contaminated With Pesticides
By 4.19.17
Following reports that a variety of products sold at California medical marijuana dispensaries may be contaminated with potentially dangerous pesticides, a number of pot shops in the state have begun to stop selling these items. [More]
Retail Continues To Suffer As Sales Decline For Second Month In A Row
By 4.14.17 — Updated: 5.10.17
For the first time in nearly two years, retail sales declined two months in a row, highlighting once again the current challenges facing a retail industry that has suffered a number of bankruptcies and store closures so far in 2017. [More]
JCPenney Postpones Store Closings Because People Are Shopping There Again
By 4.13.17
Two months after JCPenney announced it would shutter 138 stores across the country amid falling sales, the company says it is delaying those closings as customers have apparently started shopping with the retailer again. [More]
Wells Fargo Takes Back Another $75M From Former CEO & Exec Blamed For Fake Accounts
By 4.10.17 — Updated: 5.10.17
The Wells Fargo board of directors has completed its investigation into the bank’s fake account fiasco, which saw Wells employees open more than two million bogus accounts in customers’ names. For their failure to curb this bad behavior, “retired” CEO John Stumpf and former head of retail banking Carrie Tolstedt have had an additional $75 million in compensation clawed back.
[More]
Report: Panera Looking At Possible Sale To Starbucks, Domino’s, Others
By 4.3.17
Want a Panera sandwich with a Starbucks coffee? Right now, you’ll have to go to two different stores, but in the future they could be one and the same: Panera is reportedly looking for a buyer, and the coffee giant is apparently on the shortlist. [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]
Would You Want To Know Your Engagement Ring Was Bought At 70% Off?
By 3.20.17
This weekend, the Macy’s store in downtown Minneapolis closed for the last time. Yet one of the clearance items shared by a local reporter visiting the store caught our eye. A shelf of engagement rings marked 70% off made us wonder: Would most people want to know if their engagement ring had been one of the last jewelry counter dregs at a store-closing sale? [More]
