Author: Anne D’Innocenzio
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Sears to close more Kmart stores, sales continue fall
NEW YORK — Sears continued to struggle in its second quarter with declining sales amid heightened competition from the likes of Walmart to Amazon. It now says it will close even more stores. The Hoffman Estates, Illinois retailer, which operates Sears and Kmart stores, has been trying to cut costs by closing stores, including 180 this year and…
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Retailers, brands see green for back-to-school shopping
NEW YORK — For the back-to-school season, many parents and their kids are thinking green. Concerns about the environment have them looking for secondhand clothing or fashions made from reused material — but price still rules. Shoppers want quality and style in backpacks, jeans and the like without spending a lot more money. Retailers like…
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Sears closes another 20 stores
NEW YORK — Sears is closing another 20 stores as the ailing retailer tries to turn around its business. Real estate investment trust Seritage, which owns the 20 real estate properties, confirmed the closings— 18 Sears stores and two Kmart stores — in a government filing Friday. None of the stores are in Colorado. In…
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Shoe chain Payless files for bankruptcy protection
NEW YORK — Shoe chain Payless ShoeSource has filed for Chapter 11 bankruptcy protection, becoming the latest retailer to succumb to increasing competition from online rivals like Amazon. The Topeka, Kansas-based retailer said Tuesday that it will be immediately closing nearly 400 stores as part of the reorganization. It has over 4,400 stores in more…
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Sears has ‘substantial doubt’ about its future
NEW YORK — Sears, once the monolith of American retail, says that there is “substantial doubt” that it will be able to keep its doors open. Company shares, which hit an all-time low last month, tumbled more than 5 percent before the opening bell Wednesday. Millions of dollars have been funneled through the hedge fund…
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Tips for getting deals for the Black Friday weekend
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NEW YORK — Serious deal-seekers are already planning their Thanksgiving weekend shopping, and experts believe that once again the holiday itself may offer better deals than Black Friday the day afterward. Amid the clutter of deals clamoring for attention, smart and careful shoppers can come out ahead. “Start researching and planning,” says Benjamin Glaser, features…
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Mall of America to close for Thanksgiving
NEW YORK – Mall of America, the nation’s largest shopping mall anchored by Macy’s, H&M and others, has taken a stand against the growing trend of Thanksgiving shopping and will be closed on the turkey feast this year. The center, based in Bloomington, Minnesota, has been open on Thanksgiving since 2012. But mall officials told The…
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GIANT TV ENVY
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Supersized isn’t just for French fries. Americans increasingly are replacing their once-enviable 50-inch TVs with even bigger screens. Think: 65 inches and up. And what better time to expand your HD horizons than Saturday’s official kickoff of college football and the NFL season start next weekend. People are snagging big screens – pushing sales of…
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Jos. A. Bank agrees to $1.8 billion Men’s Wearhouse bid
NEW YORK – Looks like the best suitor won. After an extended chase that included overtures on both sides, Men’s Wearhouse and Jos. A. Bank will combine to create the nation’s fourth largest seller of men’s wear. Men’s Wearhouse Inc. said Tuesday that it’s buying its rival Jos. A. Bank Clothiers Inc. for $1.8 billion.…
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Macy’s reorganizing, axing 2,500 jobs
NEW YORK – Macy’s Inc. announced Wednesday it is cutting 2,500 jobs as part of a reorganization to sustain its profitability. The announcement comes on the heels of a strong holiday shopping season for the department store chain, which also runs the higher-end Bloomingdale’s chain. Macy’s said the moves will save it $100 million per…