Toys“R”Us Inc.’s lawyers and advisers have shot down an 11th-hour offer from a billionaire toy maker that would have kept some of its U.S. stores open, according to a person familiar with the matter. The Wall Street Journal reports that Isaac Larian, founder of Bratz dolls maker MGA Entertainment, Inc., came forward last week with a…
The only two bids at the start of a bankruptcy auction for department store chain Bon-Ton Stores Inc. were from liquidators, signaling the end for the company, according to reports Tuesday morning. Reuters said Bon-Ton will go out of business without a bid from a going-concern bidder. The New York research firm Reorg Research, also…
If the prospect of offering warranty solutions seems intimidating, you’re not alone. For many retailers, incorporating a warranty pitch into an already tricky sales process may be viewed as a simple check-the-box obligation. The reality is that warranties can offer an additional line of revenue and reduce customer churn, two tremendous assets for any business.…
U.S. retail sales rebounded in March after three straight monthly declines as households boosted purchases of motor vehicles and other big-ticket items, suggesting consumer spending was heading into the second quarter with momentum. The Commerce Department said on Monday retail sales increased 0.6 percent last month after an unrevised 0.1 percent dip in February. January data…
Imagine for a minute that instead of going to the mall, you lived there. Now, imagine that that mall wasn’t just a parcel of real estate with dozens of national retail chain tenants selling often largely undifferentiated merchandise, but instead was magically transformed into a highly differentiated mixed-use space whose sole mission was to cater…
Sears Holdings is selling 16 of its namesake store locations in an online auction, according to a Wall Street Journal report. The stores, 15 of which are attached to malls, are being marketed as sale and lease-back deals, which will allow Sears to continue operations at the locations while paying rent. The new owners of…
In any industry, weathering change doesn't come easy — particularly for those companies that were built in and for another era. Retail is no exception. Physical retailers are rightly reconsidering the role of brick-and-mortar for the modern consumer, retooling their strategies and shifting their business practices to more effectively compete in a world remade through online’s influence. Meanwhile, consumer expectations are changing, and the old ways of attracting, retaining and engaging customers are evolving right alongside them.
Nordstrom is opening a men’s store in New York City this week that will operate 24 hours a day. The retailer is offering a variety of services at the store, including overnight in-store pickup, a self-service return kiosk, shoe shining, and “sneaker cleanings.” The new service-oriented store will cater to the city that never sleeps,…
U.S. mall owners Washington Prime Group and Namdar Realty Group will bid together to save department store chain Bon-Ton from liquidation, according to court documents filed Monday that were reviewed by CNBC. Alternative asset manager DW Partners will also be working with them. It was reported last week that the two landlords would attempt to acquire…
Ace Hardware and Dollar Tree deliver the best customer experience in the retail industry, according to the 2018 Temkin Experience Ratings, an annual customer experience benchmark of companies based on a survey of 10,000 U.S. consumers. Of the 49 retailers included in this year's ratings, Ace Hardware and Dollar Tree tied for the top spot. Each earned a…
