Author: Anne D’Innocenzio
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Target launches new paid membership program in a bid to drive sales at a time of cautious spending
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Target, looking for ways to reverse a sales malaise, is getting into Amazon territory: the paid membership game
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Less is more? Consumers have fewer choices as brands prune their offerings to focus on best sellers
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Plenty of retailers and suppliers are reducing the variety of their offerings to focus instead on what they think will sell best
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Less is more? Consumers have fewer choices as brands prune their offerings to focus on best sellers
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Plenty of retailers and suppliers are reducing the variety of their offerings to focus instead on what they think will sell best
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Suppliers reluctant to ship goods without credit insurance
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NEW YORK • Gold Medal International is sitting on millions of dollars worth of socks at its North Carolina warehouse that it can’t ship to stores. The reason? The 66-year-old family-owned sock maker can’t get enough credit insurance to cover potential losses if the stores can’t pay for the goods they’ve ordered. Without that insurance,…
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King Soopers, City Market stores requiring customers to wear masks
Deputy Medical Director Dr. Leon Kelly told county commissioners during a meeting Tuesday that increased spread of coronavirus threatens to overwhelm El Paso County. “How many people is the right amount of people to die to do something about it?” Kelly said during the presentation. NEW YORK (AP) — On the same day Walmart announced…
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Macy’s to close 125 stores, shed 2,000 corporate jobs
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NEW YORK • Macy’s said Tuesday it is closing 125 of its least productive stores and cutting 2,000 corporate jobs as the struggling department store tries to reinvent itself in the age of online shopping. The store closures represent about one fifth of Macy’s total. They include about 30 that are closing and account for…
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TVs to shoes: This time consumers face pain of tariffs
WASHINGTON • President Donald Trump’s trade war with China, until now mainly an abstraction for American consumers, is about to hit home. Beginning Sunday, the U.S. government will begin collecting 15% tariffs on $112 billion in Chinese imports — items ranging from smartwatches and TVs to shoes, diapers, sporting goods and meat and dairy products.…
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Sears gets another chance
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NEW YORK • A bankruptcy judge on Thursday blessed a $5.2 billion plan by Sears chairman and biggest shareholder to keep the iconic business going. The approval means roughly 425 stores and 45,000 jobs will be preserved. Eddie Lampert’s bid through an affiliate of his ESL hedge fund overcame opposition from a group of unsecured…
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Sears gets another reprieve from liquidation
NEW YORK — Sears is getting another reprieve from liquidation after its chairman and largest shareholder revised his bid to save the iconic brand. The Hoffman Estates, Illinois-based retailer says it has accepted Eddie Lampert’s bid through an affiliate of his ESL hedge fund that could keep 425 stores open and save tens of thousands…
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US retailers hope higher pay will buy more efficient workers
WASHINGTON — America’s retailers, struggling to fill jobs, have been raising pay to try to keep and attract enough employees. Now, some stores want something in return: A more efficient worker. To that end, retailers, fast food restaurants and other lower-wage employers are boosting investment in technology and redesigning stores. Walmart is automating its truck…