retailers

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Guitar Center Files for Bankruptcy
Guitar Center:
It's Bankruptcy Time
Nov 22, 2020 1:00 PM CST

Guitar Center: It's Bankruptcy Time

The nation's biggest musical instrument retailer files for Chapter 11

(Newser) - The Guitar Center filed for Chapter 11 bankruptcy Saturday as yet another US retailer revealed its pandemic financial woes, Reuters reports. In a bankruptcy filing , the 61-year-old company said it plans to stay afloat with up to $165 million in fresh equity investments and a debt reduction of nearly $800...

COVID Changing Big Retailers' Holiday Plans

Target joins Walmart in closing for Thanksgiving

(Newser) - The coronavirus is already causing big retailers to modify their holiday shopping season. On Monday, Target said it would close its stores on Thanksgiving for the first time since 2011, reports USA Today . The move comes after Walmart announced that it, too, would close on Thanksgiving, the first time that'...

200-Year-Old Firm Becomes Latest Pandemic Victim

Brooks Brothers has filed for bankruptcy

(Newser) - Brooks Brothers, the 200-year-old company that dressed nearly every US president, filed for bankruptcy protection Wednesday, the latest major clothing seller to be toppled by the coronavirus pandemic. Founded in New York in 1818, Brooks Brothers survived two world wars and the Great Depression and even managed to stay afloat...

'Exhausted' Retailers See Some Record-Setting Good News

US retail sales jumped 17.7% from April to May, but retailers aren't out of the woods yet

(Newser) - US retail sales jumped by a record 17.7% from April to May, with spending partially rebounding after the coronavirus had shut down businesses, flattened the economy, and paralyzed consumers during the previous two months. The Commerce Department's report Tuesday showed retail sales have retraced some of the record-setting...

Walmart Stats Present a Snapshot of Pandemic

Sales surged, especially online, as Americans stocked up

(Newser) - The pandemic has brought financial ruin to some retailers . Not so with Walmart, whose sales boomed in the quarter that ended May 1, reports CNBC . Overall, same-store sales were up 10%, but the details show how the coronavirus radically altered shopping patterns. For one thing, online sales rose a staggering...

First Department Store Chain Falls to Coronavirus

Luxury giant Neiman Marcus files for Chapter 11

(Newser) - Neiman Marcus, the 112-year-old storied luxury department store chain, has filed for Chapter 11 bankruptcy protection, the first department store chain to be toppled by the coronavirus pandemic, per the AP . The move follows the bankruptcy filing by J. Crew , which became the first major retailer to reorganize during the...

First Big Retailer to Fail From Virus Files for Bankruptcy

J. Crew was already struggling even before the pandemic

(Newser) - J. Crew was having a tough time even before the pandemic arrived. Now, the New York Times says it's the "first major retailer to fall" from the virus, seeking bankruptcy protection to try to stay alive. On Monday, the clothing retailer's parent company, Chinos Holdings, filed to...

House Panel Demands Bezos Himself Come Testify

Judiciary Committee investigating whether Amazon is cheating its own sellers

(Newser) - A recent Wall Street Journal investigation discovered Amazon.com workers had used proprietary data from independent sellers on the site to boost its own competing products, and that probe has now spurred a call to Jeff Bezos himself to appear on Capitol Hill. The Journal reports that the company's...

Macy's to Reopen Dozens of Stores, With Changes

Temperature checks, masks for workers will now be part of the work environment

(Newser) - Dozens of Macy's stores, closed since March 18, are set to reopen Monday. The company plans to have 68 of its 775 department stores reopened by the start of next week, with limited hours of 11am to 7pm. These are in states that have loosened restrictions. A quarter of...

How 49 Malls Will Manage to Open by Monday

Simon Property Group reopening them in 10 states

(Newser) - Some of the urinals will apparently be taped off, but shoppers in 10 states should be able to return to 49 malls operated by Simon Property Group between Friday and Monday. Several media outlets have obtained an April 27 memo put out by the company and shared with retailers that...

'Essential' Hobby Lobby Keeps Trying to Reopen Stores Amid Virus

Arts and crafts chain has been defying stay-at-home orders, states are pushing back

(Newser) - Although parents holed up at home with young kids during the coronavirus outbreak may consider arts and crafts supplies a necessity to keep their little ones occupied, the state of Colorado doesn't deem stores that sell those supplies as essential businesses. That's the gist of a cease-and-desist letter...

The &#39;Joe&#39; Behind Trader Joe&#39;s Dead at 89
Trader Joe's
Founder
Dead at 89
OBITUARY
Feb 29, 2020 6:30 AM CST

Trader Joe's Founder Dead at 89

Joe Coulombe, who started quirky grocery store chain, died after a long illness

(Newser) - Joe Coulombe, the "Joe" behind the Trader Joe's name, died Friday at the age of 89 at his home in Pasadena, Calif. His son Joseph confirmed his death after a long illness to the New York Times and Los Angeles Times . Coulombe had been the owner of a...

First-of-Its-Kind Amazon Store Is Missing One Key Thing

You won't find cashiers at the Amazon Go Grocery store opening in Seattle

(Newser) - Tuesday's likely to be a big day in Seattle's Capitol Hill district, where Reuters reports that the first Amazon Go Grocery store is opening, with just one thing missing: cashiers. Customers simply walk into the 10,400-square-foot site—smaller than the 40,000 square feet or so found...

Papyrus Is Closing All 254 Stores
Greeting Card Chain Folds
Jan 22, 2020 8:03 AM CST

Greeting Card Chain Folds

Papyrus is closing all 254 stores

(Newser) - Last year was a tough one for the retail industry and 2020 isn't looking much better. The owner of greeting card and stationery chain Papyrus says that after "Herculean efforts" to make its stores "fit today's retail environment," it is calling it quits, USA Today...

On Cyber Monday, a 'Threat' Has Emerged Against Amazon

Target, Walmart, other retailers could suck share on what's set to be biggest online shopping day yet

(Newser) - Nearly 70 million Americans will be plopped in front of their computers or phones today, and not just because they're back to the grind after the long holiday weekend. It's Cyber Monday, an online extension of the Black Friday sales that have gone on for years, and Reuters...

Time and a Half for Working Thanksgiving? Not at Walmart

Employees will get modest store discount instead for working shifts this holiday weekend

(Newser) - Walmart will be operating at regular hours this Thanksgiving and Black Friday, but unlike retailers Target and Amazon, it won't be offering employees paid time and a half. In fact, as the Guardian reports, Walmart workers won't get any extra pay. Instead, they'll receive a 10% discount...

Another Chain Is Closing All Its Stores

Arts and crafts chain AC Moore to close all 145 locations

(Newser) - AC Moore originally planned to open its 145 arts and crafts stores at 6pm Thanksgiving for its Black Friday sale, but it's not clear whether that's still happening—because on Monday the New Jersey-based chain that opened its doors in 1985 announced all of those stores are closing....

Come 2021, You Won't Find This in Macy's Anymore

You'll have to get your fur items elsewhere, save a few permitted exceptions

(Newser) - If you're accustomed to browsing for mink stoles, fur coats, and other fur-trimmed apparel at Macy's or Bloomingdale's, you'll soon have to find a new retailer to fill those needs. CBS News and the New York Times report on a Monday press release from Macy's...

It&#39;s Chapter 11 for Forever 21
It's Chapter 11 for Forever 21
Sep 30, 2019 4:07 AM CDT

It's Chapter 11 for Forever 21

Retailer calls bankruptcy filing a 'deliberate step'

(Newser) - Low-cost fashion retailer Forever 21 says it has filed for bankruptcy protection—but that doesn't mean it is doomed. In a letter to customers Sunday, the 35-year-old chain said it will be business as usual during reorganization and filing for Chapter 11 protection "is a deliberate and decisive...

Lowe's Just Made Another Big Move to Cut Costs

Thousands of maintenance, assembly workers have been laid off

(Newser) - Lowe's has been stumbling of late, with lagging sales and store closures . Now the home improvement retailer is saying goodbye to thousands of jobs: Maintenance and assembly staff—the folks who put together items such as grills for customers—at all of the chain's 1,800 or so...

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