Retail Stores
Sycamore Partners, the private equity firm that recently backed out of a deal to buy Victoria’s Secret, has a good chance of winning an auction to buy the department store chain J.C. Penney out of bankruptcy, MarketWatch reported. The New York-based firm bid $1.75 billion for the department store chain. If it wins the auction,…
SPARC LLC, a full-service retail operator comprised of the U.S. mall owner Simon Property Group and the apparel licensing firm Authentic Brands Group (ABG), has made a $305 million bid for bankrupt Brooks Brothers, according to a court filing published last week. The offer, still subject to better and higher bids and court approval, will keep at least 125…
COVID-19 triggered a dramatic shift in how we shop: stores deemed “non-essential” were closed, and stores that remained open were significantly changed. Going to a grocery store was suddenly high effort: standing in long lines to get in, wearing masks, and keeping a strict distance from other customers. As retailers open non-essential stores, these restrictions…
The retail spaces that shoppers will return to following the COVID-19 pandemic won't be the same ones they shopped in previously. Associates and consumers will have to develop and adjust to new shopping behaviors that minimize physical touch and closeness. This period will be marked by innovation and experimentation, as retailers attempt to drive increased…
Ascena Retail Group, the parent company of women’s apparel brands Ann Taylor, Lane Bryant and Catherines, filed for bankruptcy yesterday and said it will close at least 877, or nearly a third, of its 2,800 stores after years of declining sales and growing debt. The company, founded as Dressbarn in 1962, is one of the nation’s…
Aldi, a discount grocer, announced that it will open more than 70 new stores in the United States by the end of the year, CNBC reported. The expansion plan will bring Aldi to the Phoenix area for the first time, and will add more stores to states, including California, Kansas, Texas, and New York. In…
L.L.Bean is expanding from its original model of direct-to-customer catalog sales and in-stores sales with an agreement to sell its products in Nordstrom, Staples, and sporting goods chain SCHEELS, reports AP News. The company’s first wholesale agreements in the U.S. represent a push to get the brand's products in front of more consumers. The first phase…
Verizon Media today announced the launch of Groceries from Walmart, a Yahoo Mail feature that enables users to browse, add to cart, and purchase essential groceries from Walmart within Yahoo Mail. According to Verizon Media, this is the first time that email users can fill a shopping cart from their inbox, streamlining their shopping experience from…
Walmart is launching a new subscription service later this month called Walmart+ that closely resembles Amazon Prime, multiple sources told Recode last week. According to the sources, Walmart+ will cost $98 a year, and will include perks such as same-day delivery of groceries and general merchandise, discounts on fuel at Walmart gas stations, and early…
Walgreens Boots Alliance announced earlier this week that it will soon have doctor offices inside of hundreds of its U.S. drugstores. The retailer has partnered with VillageMD, which will staff and run the primary-care clinics. The companies said they will open the clinics in 500 to 700 stores in more than 30 U.S. markets over the next…