retail

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Aldi Has Big Plans Across the US
Aldi Has Big Plans
Across the US
Sep 9, 2024 8:36 AM CDT

Aldi Has Big Plans Across the US

Grocery chain says it's hiring 13K workers, adding 800 stores throughout US

(Newser) - Currently, Aldi employs nearly 50,000 people across the US, with almost 2,400 stores under its belt. Both those numbers are about to get a boost, per Quartz , which reports that the grocery chain is set to pump more than $9 billion to open 800 new stores over the...

Walgreens Is Closing a 'Significant' Number of Stores

'We are at a point where the current pharmacy model is not sustainable'

(Newser) - Walgreens' stock plunged more than 20% in trading Thursday morning after the company reported disappointing earnings and slashed its profit outlook. The drugstore chain said it plans to cut a "significant" number of its more than 8,600 stores in the US, CNN reports. Walgreens has already closed more...

Dollar Tree Wants to End Its 'Disastrous Merger'

Company announces it would like to sell or spin off Family Dollar chain

(Newser) - Dollar Tree is seeking to put an end to what CNN calls its "disastrous merger" with Family Dollar. The parent company on Wednesday announced it's looking into selling or spinning off Family Dollar, which it bought for $8.5 billion in 2015. The thinking at the time was...

Macy's to Close 150 Stores as It Pivots to Luxury

Announcement comes weeks after department store chain said it would cut workforce by 3.5%

(Newser) - Macy's will close 150 stores over the next three years, 50 of them by the end of 2024, the department store said Tuesday after posting a fourth-quarter loss and declining sales, per the AP . At the same time, the company signaled a pivot to luxury. It said it would...

Retailers: Theft Is Killing Our Bottom Lines

Target expects to lose up to $1B this year due to 'shrink,' also taking a toll on Dollar Tree, Kohl's

(Newser) - Dollar Tree is the latest company to partly blame theft for plunging profits. The company's gross profit margin fell to 29.8% last quarter from 32.7% a year earlier, CEO Richard Dreiling and CFO Jeffrey Davis told Wall Street analysts on Thursday, per CNN . They attributed much of...

Teeming With Inventory, Kohl's, Gap Resort to 'Pack and Hold'

Clothing retailers are tapping into unusual strategies amid an inventory glut

(Newser) - As summer tilts toward autumn, major clothing retailers have found themselves with a massive glut of inventory, forcing many chains to make tough choices. Per CNN, discounts and promotions are the usual strategies for clearing excess goods, but that's not good enough for Kohl's and the Gap. Both...

Amazon Goes Brick-and-Mortar Again, and It's High Tech

Doors will open at the Amazon Style apparel store in Glendale, Calif., later this year

(Newser) - Amazon is the nation's No. 1 apparel retailer , but it has apparently decided that online sales aren't enough. CNBC reports the e-commerce giant will be opening a clothing store (as in one you can actually walk into) in a Los Angeles suburb later this year. Amazon Style will...

Toys 'R' Us Is Returning in a 'Massive Way'

Huge new store will open in New Jersey mall

(Newser) - Toys 'R' Us is planning to open a massive new store, which will bring its total number of standalone locations in the US to one. Parent company WHP Global says the 20,000 square foot store at the American Dream mall in New Jersey, set to open in mid-December,...

Walgreens Says Shoplifting Has Forced It to Close SF Stores

5 more outlets in city will close next month

(Newser) - Walgreens says it's closing five more of its stores in San Francisco because of "organized retail crime," bringing the number of closures in recent years to 22—almost a third of its stores in the city. The chain says its San Francisco stores have been targeted by...

As Competition for Workers Heats Up, Target Offers Debt-Free Education

Company says it will cover entire cost of 250 business-related programs

(Newser) - With competition for retail workers heating up, Target has joined a growing number of employers, including rival Walmart , offering free college tuition. The retail giant says it plans to invest $200 million over the next four years in a program to offer " debt-free undergraduate degrees " and free textbooks,...

There's a New Retail 'Crisis' Affecting Costco
There's a New Retail
'Crisis' Affecting Costco
in case you missed it
Mar 14, 2021 2:50 PM CDT

There's a New Retail 'Crisis' Affecting Costco

Imports delayed over apparent lack of shipping containers

(Newser) - There's a reason your local Costco may look barer than usual. Delays at ports are affecting supplies of imported goods, and imported cheeses in particular, USA Today reports. During an earnings call last week, CFO Richard Galanti explained Costco was seeing limited supplies of cheese, seafood, olive oil, furniture,...

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...

'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 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...

Costco Shoppers, Things Are About to Change

The retail giant wants you to cover your face inside stores

(Newser) - Costco shoppers, gear up for Monday. That's when the retail giant will begin requiring workers and shoppers to wear masks or face coverings, USA Today reports. "The use of a mask or face covering should not be seen as a substitute for social distancing," the company says...

Ikea's Main Franchisee Prepares for Baby Boom

Ingka aims to reopen European stores in May

(Newser) - Ikea's main franchisee has reopened all but one of its stores in China, and next month it plans to welcome crowds back to its European stores, too. Ingka Group—the world's largest furniture retailer, operating 420 Ikea stores around the world—aims to reopen stores in Europe in...

The 'Joe' Behind Trader Joe'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...

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