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…
Hold on to your shopping carts. The retail industry is undergoing a radical change, and it's not just impacting retail. There will be major changes in housing and construction patterns as well. Yes, we're seeing closures of stores such as RadioShack and a variety of fashion and apparel stores, and the resulting retail deserts often…
Toys"R"Us Inc. is making preparations for a liquidation of its bankrupt U.S. operations after so far failing to find a buyer or reach a debt restructuring deal with lenders, according to people familiar with the matter. While the situation is still fluid, a shutdown of the U.S. division has become increasingly likely in recent days, said…
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Abercrombie & Fitch announced Wednesday it will be closing 60 stores later this year. The teen apparel retailer, which also owns the brand Hollister, has been reconfiguring its store fleet in malls as more shoppers opt to buy clothes online. Last year, it closed nearly 40 stores, having previously planned to shutter 60 locations. In 2016,…
There's little doubt in the retail industry that it’s time to make big changes. And if anything was clear this year at the National Retail Federation's Big Show, it was that retailers are on the search for technologies that can help them adapt to the times. Specifically, these retailers are looking to provide the omnichannel…
Foot Locker is the latest retailer to reduce its store count in an effort to cut costs, according to a March 2 Business Insider report. More specifically, the retailer plans to close approximately 110 stores this year, mostly those that are considered underperforming locations. This latest round of store closures augments the 147 stores that Foot Locker closed…
Kohl's said Thursday it would bring discount grocer Aldi into as many as 10 of its stores later this year in a pilot test. The department store chain aims to scale down its real estate footprint and leverage space for other brands, including Aldi. It was reported in January that Kohl's was thinking about not…
Best Buy is planning to close all of its roughly 250 smaller-format mobile phone stores by the end of May, according to a report in the a StarTribune. The stores, most of which are in shopping malls and much smaller than Best Buy’s big-box locations — have become less profitable for the company. Best Buy…
Walmart said yesterday that it's raising its age restriction to 21 for firearm and ammunition purchases. In a statement published on its website yesterday, the retailer said it made the decision in light of recent events and will try to implement this change "as quickly as possible." Walmart also pointed out that in 2015 it ended sales of certain sporting rifles…
