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…
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…
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…
Spanish fashion chain Mango will close 450 sales outlets in the United States early next year after ending a five-year deal to display its clothing lines at department store J.C. Penney, a spokesman said. The retail chain, which competes with Inditex brands such as Zara as well as Sweden's H&M, won't be renewing the expiring agreement…
Toys“R”Us will once again open its stores at 5 p.m. on Thanksgiving, sticking with its strategy of having one of the earliest start times for the Black Friday sales weekend. The Wayne, N.J.-based toy retailer said it again plans to keep all of its stores open for 30 straight hours, throughout the night on Thanksgiving and…
Google has abandoned plans to open its first-ever retail store in New York City. The company is trying to sublease a 5,442-square-foot SoHo space it leased last year, and wants $2.25 million annually in rent for it, according to sources. The decision to abandon its retail store came after the internet giant spent $6 million renovating the…
City Sports, the Boston-based sporting goods retailer, has been purchased by a company who plans to shutter the chain’s remaining locations and sell off its assets, The Boston Globe reported. The company, which opened its first store in Boston in 1983, filed for bankruptcy in October and closed eight of its 26 stores, hoping to sell…
Target is closing the doors to 13 of its stores. On Wednesday, Target confirmed that the locations across the U.S. would be closing by Jan. 31, 2016. A Target spokesperson said "the decision to close a Target store is not made lightly." She added that before the company decides to make a closure, a store's…
Bookstore owners often think of Amazon.com as the enemy. Now it’s becoming one of them. On Tuesday morning, the online retail giant opened its first-ever brick-and-mortar store in its 20-year life, in the University Village neighborhood of Seattle. The store, called Amazon Books, looks a lot like bookstores that populate malls across the country.
Bargain-hungry shoppers will once again be able to scoop up Black Friday deals at Macy's shortly after they finish their turkey dinner. The department store on Thursday said that for the second consecutive year it will open its doors at 6 p.m. Thanksgiving Day. The move comes as a handful of retailers, including GameStop, Lowe's, TJX…
