Hastings Entertainment's 123 stores will be shut down as a joint bid from two liquidators, Hilco Merchant Recourses and Gordon Bros. Retail Partners, was accepted by the court. When Hastings initially filed for Chapter 11 protection, its main strategy was to find someone to buy the company and the court gave the chain 30 days to…
In mid-August of last year, warning signs at the Seattle headquarters of Nordstrom Inc. first became apparent. Up to that point, the upscale apparel retailer, with $14 billion in annual sales, had enjoyed several years of steady sales growth and expansion. Its stock had climbed to a record high of about $80 a share. “Then, all of…
What’s making sales soar 100 percent for one retailer? Pokemon Go, of course. Sales at some GameStop locations doubled last weekend because of the augmented reality mobile game. GameStop designated 462 stores as “gyms or PokeStops” — i.e., places predetermined by Google Maps data that players visit to help up their game. Pokemon enthusiasts are flocking…
Another petition has been circling featuring Starbucks, but this time it's political. The document and a separate crowdfunding effort are an attempt to get Starbucks to terminate its leases on Trump properties. Kyle Brooks, author of the petition letter, was 300 names away from its goal of 11,000 at the time Fortune originally reported the…
Everyone in the TV industry knows about the overnights. Such Nielsen ratings let executives know which shows are taking off and which aren’t. Perhaps that’s why TV is such a vibrant business. Some 65 percent of new shows are canceled every season, according to one estimate. Other industries haven’t had this luxury. In particular, retailers often have…
U.S. sales at retail stores and restaurants rose 0.6 percent in June from the prior month to $457 billion, the Commerce Department said today. Sales were up 2.7 percent from a year earlier, up from annual growth of 2.2 percent in May. Most retail categories saw sales grow last month, led by a 3.9 percent…
Walgreens is confident that its acquisition of Rite Aid will close by the end of this year, and CEO Stefano Pessina reports only about 500 stores would need to be sold to address regulator’s antitrust concerns. Analysts first predicted that anywhere from 1,000 to 3,000 stores would need to sell to satisfy the Federal Trade…
Barneys New York Majority Owner Richard Perry is looking to sell part of the company. The hedge fund manager reportedly doesn’t want to put any more money into the business after opening a 58,000-square-foot Chelsea store. This comes after first-quarter, same-store sales dropped 10 percent from last year. Perry took control of the retailer in…
Dick's Sporting Goods, the largest U.S. sporting goods retailer, said last week that it was the successful bidder in the auction for the intellectual property of bankrupt competitor Sports Authority with a bid of $15 million. The intellectual property of Sports Authority includes its e-commerce website, SportsAuthority.com, a loyalty program with 28.5 million members, and a…
Online marketplaces are growing in popularity with shoppers and, therefore, so too are the number of marketplaces available. Shop.com is just one of the beneficiaries of consumers’ increasing penchant for shopping online. The marketplace features over 40 million products across virtually all product categories, and services over 200 markets. In episode 42 of Total Retail…
