aggregatedcontent
November 12, 2015 at 11:05 am
When Macy’s, a store closely associated with Christmas, says there's trouble brewing ahead of the holidays, it's enough to send the world of shopping into a tailspin. The retailer of “Miracle on 34th Street” warned Wednesday that its stores were awash with merchandise after a sluggish fall season and that slow business would force it to…
November 12, 2015 at 10:49 am
The shopping phenomenon of Singles Day might have broken records in China, but it failed to capture the attention of U.S. consumers, according to a report released Wednesday. The Adobe Digital Index showed that the 24-hour sale celebrated on Nov. 11 has become the largest shopping day in China, but has yet to catch on…
November 12, 2015 at 10:28 am
Yesterday, the retail world was abuzz with news of Banana Republic’s continued plummeting comparable sales. The once-shining division of Gap, Inc. has suffered continual sales drops. It didn’t help that a corporate spokesman described Banana Republic’s issues as “product acceptance challenges.” First to respond, Fortune.com led with this epic line: “In the annals of corporate…
November 11, 2015 at 11:13 am
Alibaba has topped sales from last year's Singles’ Day, tallying over $12 billion over the first 12 hours of sales for China's one-day online shopping spree. Bloomberg's Emily Change reports on the sales gains and the U.S. companies becoming involved in Singles’ Day.
November 11, 2015 at 11:04 am
You probably heard about the Starbucks cups Christmas brouhaha. Bloomingdale’s surely did, but still ended up falling into its own holiday promotion kerfuffle. The chain of high-end department stores put out an ad that attracted attention, for all the wrong reasons. The general mood on Twitter was “What were they thinking?” or “This is disgusting.”
November 11, 2015 at 10:56 am
J.C. Penney said Wednesday that it's reached an agreement to settle a false advertising class-action lawsuit in California, making $50 million available in cash or store credit to customers. While the charge will be included in the third quarter that it’s scheduled to report on Friday, the quarter’s gross margin and earnings results “exceeded expectations,”…
November 11, 2015 at 10:46 am
A federal judge has dismissed a class-action lawsuit initiated by Apple retail workers over bag-search practices at the company’s California stores. The ruling on Saturday by Judge William Alsup of Federal District Court in San Francisco came in a case in which employees sued to be reimbursed for the time taken by Apple to search their…
November 11, 2015 at 10:33 am
Macy's and Luxottica Group, a leader in the design, manufacture and distribution of fashion, luxury and sports eyewear, today announced an agreement to bring the LensCrafters optical retail experience to as many as 500 Macy’s department stores in the U.S. over the next three years. The licensed department agreement builds on a successful relationship between the…
November 11, 2015 at 10:29 am
Supermarket operator Kroger Co said it would buy smaller chain Roundy's Inc for $800 million including debt to expand in Wisconsin and the Chicago area. The $3.60 per share cash offer represents a 65 percent premium to Roundy's Tuesday close of $2.18. Roundy's shares rose to $3.58 in premarket trading on Wednesday. Kroger's shares were…
November 10, 2015 at 10:49 am
There’s a surprise bidder in bankrupt grocery chain Haggen’s auction to shed most of the Albertsons stores it bought in its ill-fated expansion bid: Albertsons. The grocery giant was required to sell 146 stores to Haggen last year before the Albertsons-Safeway merger was approved by federal regulators. Now Albertsons is the “baseline bidder” for 36 of the…
