FedEx Office, a subsidiary of FedEx Corp., and Walmart said yesterday that FedEx Office will bring its small-format stores for printing, packing and shipping into 500 of Walmart's stores nationwide in the next 24 months. The announcement comes after completion of a successful pilot program spanning 47 locations within Walmart stores across six states. Besides…
In a keynote presentation yesterday at the Shoptalk conference in Las Vegas, Jeff Gennette, CEO of Macy's, detailed the department store chain's transformation strategy as it looks to rebound from a couple of rough years. At the center of Macy's transformation: giving consumers choice. Gennette opened his presentation by rattling off some impressive stats regarding…
As forecast, girl's accessories retailer Claire’s Stores announced today that it has filed for Chapter 11 bankruptcy protection in U.S. bankruptcy court in Delaware. Claire’s, which is owned by private equity firm Apollo Global Management LLC , said it plans to emerge from Chapter 11 in September with more than $150 million of liquidity and…
Sears Holdings Co. jumped 17 percent in late trading after the U.S. tax overhaul helped the ailing retailer post a rare quarterly profit. Net income amounted to $182 million in the fourth quarter, compared with a $607 million loss a year earlier, Sears said on Wednesday. The company got a roughly $470 million boost from the…
In this episode of Retail Right Now, Total Retail's Joe Keenan and Caitlin Sullivan discuss the recent surge in retailers announcing store closures (Toys"R"Us, Foot Locker, Abercrombie & Fitch) and bankruptcy filings (Claire's Stores, The Walking Co.), and what this means for the future of brick-and-mortar retail.
Toys“R”Us, the iconic retail chain that has sold toys and games to millions of children for generations, is closing shop in the United States. After filing for bankruptcy protection in September and suffering through a brutal holiday shopping season, the company decided on Wednesday to close or sell all of its remaining stores, after executives met…
It’s no secret that retailers are afraid of being swept away by the ongoing retail apocalypse — and with good reason. This year, more than 12,000 stores are expected to close, while 50 percent of the 1,200 shopping malls across the U.S. will close by 2023. While online stores fare better, many boutique digital shops…
February retail sales increased 0.3 percent seasonally adjusted over January and 4.4 percent year-over-year as the economy continued to grow, the National Retail Federation (NRF) said today. The numbers exclude automobiles, gasoline stations and restaurants. The three-month moving average was also up 4.4 percent over the same period a year ago, and the results come as…
As Nick Wingfield, technology correspondent for The New York Times described in his vivid, first-hand account of shopping at the Amazon Go store, it’s hard not to get excited about the future of retailing. And while the retail industry can use all the good press it can get, I’m not sure this is it. It was…
Fashion accessories retail chain Claire's Stores is preparing to file for bankruptcy in the coming weeks, people with knowledge of the plans told Bloomberg last week. The company is reportedly closing in on a deal where control would pass from Apollo Global Management LLC, which owns Claire's, to lenders including Elliott Capital Management and Monarch…
