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May 12, 2016 at 10:54 am
Wal-Mart sure is trying to be more like rival Amazon.com in an effort to to improve its weak sales trends. The world's largest retailer is testing a two-day shipping subscription service called ShoppingPass that mirrors Amazon's successful Prime service, according to a report in The Wall Street Journal. Members to ShoppingPass reportedly will get free, two-day…
May 12, 2016 at 10:45 am
Donald Trump may have reason to gloat on Twitter again about the latest troubles facing Macy's, the iconic retailer that dumped Trump's clothing line last year. Macy's reported sales for the first quarter on Wednesday that fell more than 7 percent from a year ago and missed forecasts. The company also lowered its sales and earnings…
May 11, 2016 at 11:15 am
Wal-Mart is suing Visa for allowing customers to verify chip-enabled debit card transactions with a signature instead of a PIN. The lawsuit filed Tuesday in New York Supreme Court says that Visa requires Wal-Mart to accept signature-based transactions for chip debit cards, which Wal-Mart says are a less secure method of payment than PIN-based payments and…
May 11, 2016 at 11:11 am
Staples and Office Depot said Tuesday they're scrapping their planned $6.3 billion merger after a federal judge blocked the deal, saying the government had made the case that the combination would likely hurt competition in office supplies. The Federal Trade Commission had sought to block the merger of the last two national office-supply chains. It contended…
May 11, 2016 at 11:09 am
Microsoft's stores have a warm decor, plenty of helpful staffers and an array of PCs, phones and devices. They could use a few more customers, though. It's hard to know exactly how the stores are doing since Microsoft won't comment on either sales or traffic figures. It is fair to say, though, that it's not uncommon…
May 10, 2016 at 9:50 am
Gap Inc. said it would take steps to streamline its business, including evaluating its Banana Republic and Old Navy operations outside North America, as it posted comparable sales declines across its brands. The company also said it expects earnings for the first quarter to come in much weaker than analysts had expected — the company forecast…
May 10, 2016 at 9:45 am
Kip Tindell, chairman and CEO of The Container Store, is giving up one of his titles to Melissa Reiff beginning July 1. Reiff, who has been president since 2006 and also became chief operating officer in 2013, will become chief executive officer. She succeeds Tindell, who co-founded the company in 1978 in Dallas. Reiff joined The…
May 10, 2016 at 9:37 am
Contemporary fashion chain Scoop NYC, which abruptly closed its New York City flagship in SoHo last week, is shuttering all 15 stores nationwide, reportedly amid an increase in competition and high rents. Liquidation sales events at the stores began on Saturday, and Scoop.com is also promoting discounts of 10 percent off throughout the site, Women’s Wear…
May 10, 2016 at 9:33 am
Sports Authority's loss could be Dick's Sporting Goods' gain, analysts say. Dick's, the nation's largest sporting goods retailer, is the most likely bidder for the majority of Sports Authority store leases that could go to auction next week, a Canaccord Genuity analyst wrote Monday in a research note to clients. Analyst Camilo Lyon's base-case scenario has publicly…
May 9, 2016 at 10:35 am
Macy’s wants more shoppers to say “I do” to its wedding business. The department store chain is stepping up its nuptials game in the hopes of winning a bigger slice of the $60 billion U.S. wedding pie. Among other moves: Macy’s is adding higher-end bridal jewelry to its assortment and training its army of personal shoppers…
