Retail Stores

Macy's will close five Macy's and four Bloomingdale's stores that are underperforming. More than 830 workers will be affected by the closings — 375 at Macy's stores and 463 at Bloomingdale's. But many could have the option of taking jobs at new stores the company plans to open.

With Europeans and Asians buying fewer $65,000 diamond necklaces and $10,000 amethyst earrings, Tiffany & Co. may be in for a less-than-glittering 2012, as no U.S. luxury merchant is more exposed internationally. The world's second largest jeweler generates almost half its sales outside of the Americas, up from 38 percent in 2006, according to data compiled by Bloomberg.

There was a time not so long ago when pop-up shops were a recession-era novelty, but now they feel like a staple of city retail. This year's crop included some big, fancy, pull-out-all-the-stops showcases, including temporary stores from H&M, ad agency Wieden + Kennedy, and Tommy Hilfiger.

Michael Fuller stood in the checkout aisle at a Wal-Mart in North Carolina trying to buy a vacuum cleaner, microwave oven and some other random products which totaled $476. He handed the cashier the fake $1 million bill and awaited his change.

Macy's, Wal-Mart and others continue to get high marks from Wall Street as the busy season draws to a close, while Sears proved that it's really not a jolly holiday for all stores. Wal-Mart's return to layaway helped the world's largest retailer and pressured others.

Preppy retailer Ralph Lauren moved, closed and opened so many times this year that Racked had to make a map to keep up. In the end, seven different locations were affected, making Ralph the retail conquistador of the year. Fitting for a guy who's partly famous for his safari gear.

Filene's Basement's has officially closed. A Security guard hired after the news of bankruptcy broke shared a few of his most memorable experiences over the past two months." Some women have cried at the thought of Filene's closing," he said. "One guy tried to steal $600 worth of ladies' clothing, swearing it was for his mother. And another woman bought 30 wedding dresses one day. She came back the next day and brought 35 more."

Friction, a newly opened surf and skate shop in Florida is banking on technology to outsell its competitors, particularly its online ones. The store has outfitted its staff with iPads equipped with Apple's FaceTime, a video calling software application for supported mobile devices, to connect online shoppers with in-store reps.

Minnesota's Mall of America erupted into a 200-person melee on Dec. 27. The Minneapolis Star Tribune reports that the ungainly "young people" started the brawl at "about 4:20 PM." What started as a single fight in the food court snowballed into an anarchic mob that ripped through the corridors of post-holiday sales.

Consumers across the U.S. took advantage of discounts on the day after Christmas, which this year was a holiday and a potential boon to retailers aiming for a strong finish to the shopping season.