More than 12,000 retail stores are expected to close in 2018, up from around 9,000 in 2017, according to commercial real estate firm Cushman & Wakefield. While physical retail is absolutely undergoing a seismic transformation, it’s not necessarily the apocalypse that headlines have made it out to be. In fact, a slew of digital-first brands,…
In this episode of Retail Right Now, Total Retail's Caitlin Sullivan and Joe Keenan discuss what Sears latest round of store closures means for its future, as well as the steps the company can take to turn its fortunes around.
Heather Craig, head of retail experience at thredUP, talks with us about the rapid growth the consignment shop is achieving by building on a unique business model with customer-oriented technologies and a spin on a physical retail presence. Holly Vander Wall: thredUP is quickly gaining widespread recognition, but the concept behind it is innovative enough that…
The retail arm of CVS Health has launched four pilot stores featuring a new in-store beauty format called BeautyIRL, according to a report published by WWD. Currently, two BeautyIRL test stores are located in Florida, and the others are in Andover, Mass. and Stamford, Conn. The new stores offer brands not typically associated with mass market…
Sears Holdings said this week it's shuttering 46 more stores in November. The locations are spread across the United States. Liquidation sales at 33 Sears stores and 13 Kmart locations are expected to begin next week, according to Sears. The company also said that eligible workers will receive severance and be able to apply for openings…
This week, Lowe's announced it would close all Orchard Supply Hardware stores nationwide by Feb. 1. Lowe's is closing the stores to focus on its core home improvement business, the company said. USA Today reports employees were told about the decision Tuesday. Lowe's acquired Orchard Supply Hardware in 2013 out of bankruptcy. The brand had been…
We’ve all been there. You’ve just entered a store to make a quick purchase. Your head is down in an attempt to avoid speaking with any overzealous retail associates. But it’s too late, they’ve found you. What do you do to avoid this conversation? Lie, of course. Voice of customer platform Usabilla surveyed 2,000 U.S. consumers…
Google is planning to open a two-level store in Chicago’s Fulton Market district, its first known location for a retail flagship, according to a report in the Chicago Tribune. According to the report, the technology giant is close to finalizing a lease for almost 14,000 square feet on the first and second floors of several connected,…
With Mattress Firm mulling a bankruptcy filing in order to get out of leases and shutter stores, online startup Casper is planning to open 200 locations within the next three years across the U.S. Casper opened its first permanent store, in New York, earlier this year. CEO Philip Krim told CNBC at the time that Casper's goal…
In a sign of the times, two more traditional brick-and-mortar retailers have recently filed for bankruptcy protection. National Stores, Inc., parent company of retail brands such as Fallas, Anna’s Linens, and Factory 2-U, announced that in addition to filing for bankruptcy reorganization, it will be closing 74 of its 344 stores. National Stores, which is headquartered in Gardena,…
