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Family Dollar, Dollar Tree To Close 1,000 Stores Family Dollar, Dollar Tree To Close 1,000 Stores
Family Dollar, Dollar Tree To Close 1,000 Stores Discount chain Family Dollar and parent company Dollar Tree will close a combined 1,000 stores. Family Dollar will shut down 600 stores in 2024 and 370 stores over the next several years as store leases expire.  Dollar Tree will close 30 locations as leases expire.  The company made the announcement Wednesday morning, March 13. Family Dollar has around 8,000 US locations and Dollar Tree has  The company said it initiated a review of its stores in the fourth quarter of 2023.  It involved "identifying stores for closure, relocation, or re-bannering based on an evaluati…

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by Joe Lombardi
Business
Macy's To Close 150 Stores, Prioritize Luxury Brands Macy's To Close 150 Stores, Prioritize Luxury Brands
Macy's To Close 150 Stores, Prioritize Luxury Brands Macy's plans to close about 30 percent of its remaining stores over the next three years. The 150 closures will be at underperforming locations, with 50 planned for this year, the retailer announced on Tuesday, Feb. 27, unveiling what it is calling "A Bold New Chapter" strategy designed to return Macy’s profitability.  "It challenges the status quo to create a more modern Macy’s, Inc.," Tony Spring, chief executive officer of the company said in a statement. "We are making the necessary moves to reinvigorate relationships with our customers through improved shopping experiences, releva…

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by Joe Lombardi
Business
New Bed Bath & Beyond Store Closures Include 2 CT Locations New Bed Bath & Beyond Store Closures Include 2 CT Locations
New Bed Bath & Beyond Store Closures Include 2 CT Locations Struggling home goods retailer Bed Bath & Beyond has announced 56 new store closures that it says will be implemented by the end of the calendar year. The closure list includes two locations in Connecticut: Fairfield County: Ridgeway Shopping Center, 2275 Summer St., Stamford  New London County: Waterford 850 Hartford Turnpike, Waterford The company is due to report its results for the second quarter later this month. Bed Bath & Beyond now has about 900 stores, including those scheduled to be closed. The full list of new closures is available here.

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by Joe Lombardi
Business
Target To Open At Danbury Fair Mall In Former Sears Location Target To Open At Danbury Fair Mall In Former Sears Location
Target To Open At Danbury Fair Mall In Former Sears Location A new Target store will be opening at the Danbury Fair Mall. It will take over the space formerly occupied by Sears, according to an announcement made on Tuesday, June 21 by Macerich, owns and operates the mall. The 126,000 square-foot two-level Target store will be the first in the City of Danbury. "Target coming to Danbury Fair is the latest anchor-replacement success for Macerich's A-quality portfolio of regional town centers," Macerich President Ed Coppola said. "The terrific merchandise mix and attractive demographics surrounding Danbury Fair make this property a great match…

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by Joe Lombardi
Business
New Restaurants, Stores Coming To Danbury Fair Mall New Restaurants, Stores Coming To Danbury Fair Mall
New Restaurants, Stores Coming To Danbury Fair Mall One of the area’s most popular shopping centers is getting a facelift as developers signed multiple deals to bring new restaurants, stores, and “experiences” to the Danbury Fair Mall. Site construction has already begun at Danbury Fair on a new Shake Shack and LongHorn Steakhouse restaurants, officials announced this week, marking the first ground-up construction at the site since 1991. Other planned grand openings at the Danbury Fair Mall include in 2021 include Athlete, Barbarie’s Fitness Evolution gym, Charming Charlie, FYE, Newbury Comics, and Urban Outfitters. Officials noted that des…

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by Zak Failla
Business
COVID-19: Four Walmart Stores Being Tested For 'New Era Of Retail,' Senior VP Says COVID-19: Four Walmart Stores Being Tested For 'New Era Of Retail,' Senior VP Says
Covid-19: Four Walmart Stores Being Tested For 'New Era Of Retail,' Senior VP Says The COVID-19 pandemic has forced one of the country’s largest retailers to reevaluate how it does business in a “new era of retail.” Walmart announced that after being forced to adjust on the fly during the COVID-19 outbreak, it is testing out four new stores across the country that will serve as “both physical shopping destinations and online fulfillment centers.” John Crecelius, Walmart’s Senior Vice President of Associate Product and Next Generation Stores, said that the four stores willl serve as “test centers” where they will rotate different prototype technology in and out of the st…

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by Zak Failla
Business
Bed Bath & Beyond To Eliminate Nearly 3,000 Jobs Starting Immediately Bed Bath & Beyond To Eliminate Nearly 3,000 Jobs Starting Immediately
Bed Bath & Beyond To Eliminate Nearly 3,000 Jobs Starting Immediately Bed Bath & Beyond will cut nearly 3,000 jobs under a plan to cut costs and streamline operations. Jobs will start to be eliminated immediately, the company said in a statement on Tuesday, Aug. 25. "In conjunction with the organizational realignment, the company has implemented a significant workforce reduction of approximately 2,800 roles from across its corporate headquarters and retail banner stores, effective immediately," the statement said.  "This action is designed to further reduce layers at the corporate level, significantly reposition field operations to better serve…

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by Joe Lombardi
Business
COVID-19: Old Navy/Gap Sued By Connecticut Landlords Over Unpaid Rent COVID-19: Old Navy/Gap Sued By Connecticut Landlords Over Unpaid Rent
Covid-19: Old Navy/Gap Sued By Connecticut Landlords Over Unpaid Rent The owner of Corbin’s Corner shopping plaza in West Hartford is suing Old Navy for $231,000 in unpaid rent. The owners, Florida-based Regency Centers, sued Old Navy on July 7 in Hartford Superior Court. The lawsuit alleges that Old Navy owes Corbin’s Corner rent for April-June as well as thousands of dollars in tax and insurance expenses. Old Navy, a clothing retailer under Gap Inc., pays about $53,900 in rent per month to stay at Corbin’s Corner. Corbin’s Corner hosts a number of retailers including Best Buy, Trader Joe’s, and Pet Valu. This isn’t the first sign of trouble for Gap Inc. T…

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by Kristin Palpini