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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: Macy's Cuts 3.9K Corporate, Management Jobs; CEO Says 'We Will Be A Smaller Company' COVID-19: Macy's Cuts 3.9K Corporate, Management Jobs; CEO Says 'We Will Be A Smaller Company'
Covid-19: Macy's Cuts 3.9K Corporate, Management Jobs; CEO Says 'We Will Be A Smaller Company' Macy's is eliminating 3,900 corporate and management positions, about three percent of its total workforce, in a move to cut costs amid a steep decline in revenue during the novel coronavirus (COVID-19) pandemic. It's also reducing staffing across its stores, supply chain and customer support network, the company announced Thursday, June 25. Macy's says it will adjust staffing as sales rebound. “COVID-19 has significantly impacted our business. While the re-opening of our stores is going well, we do anticipate a gradual recovery of business, and we are taking action to align our cos…

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by Joe Lombardi
Business
COVID-19: Here's How Much More Target Will Be Permanently Paying Workers COVID-19: Here's How Much More Target Will Be Permanently Paying Workers
Covid-19: Here's How Much More Target Will Be Permanently Paying Workers Target is planning to permanently offer employees an increased hourly wage and additional benefits in appreciation of their work during the novel coronavirus (COVID-19) pandemic. The company announced this week that as of July 5, starting hourly wages will be bumped to $15, and employees will also receive a one-time $200 “recognition bonus” for both full and part-type associates that worked during the outbreak. Brian Cornell, Chairman, and CEO of Target made note that the $15 starting wage is 25 percent higher than the industry average nationwide. “In the best of times, our team brings i…

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by Zak Failla
Business
Victoria's Secret, Bath & Body Permanently Closing Stores Nationwide Victoria's Secret, Bath & Body Permanently Closing Stores Nationwide
Victoria's Secret, Bath & Body Permanently Closing Stores Nationwide Victoria’s Secret will permanently close about 250 stores in the United States and Canada this year, parent company L Brands announced.  Ohio-based L Brands did not detail the closure locations, but there are 1,635 stores nationwide.  L Brands also announced that 51 Bath & Body Works stores in the U.S. and Canada will close this year.  The popular retail chain joins others in announcing permanent store closures in recent weeks including J.Crew, Neiman Marcus, JC Penney, Macy's and Pier 1, accelerated by the coronavirus pandemic.  L Brands said it is evaluating all …

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by Jon Craig
Business
COVID-19: JCPenney Plans To Permanently Close More Than 240 Stores COVID-19: JCPenney Plans To Permanently Close More Than 240 Stores
Covid-19: JCPenney Plans To Permanently Close More Than 240 Stores JCPenney, which filed for bankruptcy last week, now says it plans to close nearly one-third of its stores amid the novel coronavirus (COVID-19) pandemic. JCPenny will be left with about 600 stores after the planned 242 closures. Earlier report - COVID-19: JCPenney Files For Bankruptcy In Largest Retail Casualty Of Pandemic The retailer also says it is aiming to double its e-commerce business, which currently accounts for about 14 percent of its revenue. “The coronavirus (COVID-19) pandemic has created unprecedented challenges for our families, our loved ones, our communitie…

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by Joe Lombardi
Business
COVID-19: JCPenney Files For Bankruptcy In Largest Retail Casualty Of Pandemic COVID-19: JCPenney Files For Bankruptcy In Largest Retail Casualty Of Pandemic
Covid-19: JCPenney Files For Bankruptcy In Largest Retail Casualty Of Pandemic In the largest retail casualty of the novel coronavirus (COVID-19) pandemic, JCPenney has filed for bankruptcy. Founded in 1902, JCPenny has about 800 stores in the United States. “The coronavirus (COVID-19) pandemic has created unprecedented challenges for our families, our loved ones, our communities, and our country," said Jill Soltau, chief executive officer of JCPenney, in a statement released on Friday, May 15. "As a result, the American retail industry has experienced a profoundly different new reality, requiring JCPenney to make difficult decisions in running our business to pr…

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by Joe Lombardi
Business
COVID-19: Neiman Marcus Becomes First Department Store To File For Bankruptcy During Pandemic COVID-19: Neiman Marcus Becomes First Department Store To File For Bankruptcy During Pandemic
Covid-19: Neiman Marcus Becomes First Department Store To File For Bankruptcy During Pandemic High-end retailer Neiman Marcus became the first department store to file for bankruptcy amid the novel coronavirus (COVID-19) pandemic. The outbreak temporarily forced the closure of all 43 Neiman Marcus stores, as well as the company's Bergdorf Goodman stores and Last Call outlets, in late March. On Thursday, May 7, the company said in a statement that it has entered into a restructuring agreement with creditors that will allow it to "substantially reduce debt and position the company for long-term growth." No specific store closures have been announced. Neiman Marcus, whose headq…

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by Joe Lombardi
Business
COVID-19: Nordstrom Permanently Closing 16 Stores COVID-19: Nordstrom Permanently Closing 16 Stores
Covid-19: Nordstrom Permanently Closing 16 Stores Nordstrom has announced it plans to close 16 of its luxury department stores as it makes adjustments to its business model amid the novel coronavirus (COVID-19) pandemic. The company is also planning phased reopenings of its other 100 stores. Nordstrom did not list what locations are closing but said it will start contacting employees who are affected. It will also implement curbside pickup and returns and speed up digital services, CEO Erik Nordstrom said in a statement. Earlier story - COVID-19: Retailer J.Crew, With 450 Stores Throughout Nation, Files For Bankruptcy Nordstrom, ba…

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by Joe Lombardi
Business
COVID-19: Here's How Much Online Grocery Sales Are Increasing Amid Pandemic COVID-19: Here's How Much Online Grocery Sales Are Increasing Amid Pandemic
Covid-19: Here's How Much Online Grocery Sales Are Increasing Amid Pandemic The demand for home delivery and online store pickup grocery sales have skyrocketed during the novel coronavirus (COVID-19) pandemic, according to a new report. Home delivery and store pickup online grocery sales reached a new 30-day record for April, hitting $5.3 billion and marking a 37-percent increase from $4 billion in March, according to the latest Brick Meets Click and Symphony RetailAI Online Grocery Survey. The report found the month-to-month sales growth represents a 33 percent increase in the monthly number of online orders, from 46.9 million to 62.5 million. There was also a 3 p…

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by Zak Failla
Lifestyle
COVID-19: Here's One Bright Spot In Record March Retail Sales Decline COVID-19: Here's One Bright Spot In Record March Retail Sales Decline
Covid-19: Here's One Bright Spot In Record March Retail Sales Decline Though the novel coronavirus (COVID-19) pandemic has wreaked havoc on retail stores in the entire nation, grocery and beverage store sales skyrocketed to new heights, according to newly released data. While retailers have seen businesses plummet, grocery stores and beverage depots have seen sales increase by more than 25 percent since the outbreak began in early March, according to a new report from the National Retail Federation. According to the U.S. Census Bureau, the overall retail business was down 8.7 percent from February to March, and down 6.2 percent at the same point last year. Th…

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by Zak Failla
Business
COVID-19: Reports Of 'Mass Call Out' Of Employees 'Grossly Exaggerated,' Amazon Says COVID-19: Reports Of 'Mass Call Out' Of Employees 'Grossly Exaggerated,' Amazon Says
Covid-19: Reports Of 'Mass Call Out' Of Employees 'Grossly Exaggerated,' Amazon Says A planned “mass call out” of Amazon employees over safety concerns amid the novel coronavirus (COVID-19) outbreak was “grossly exaggerated,” according to the retail giant. Hundreds of Amazon employees said this week that they have pledged not to go into work, according to worker rights group United for Respect. “Amazon's response to the coronavirus outbreak has unnecessarily put the lives of Amazon employees at increased risk and exposure,"  the group wrote online. "There are now over 130 warehouses where employees have contracted COVID-19 (Coronavirus) including some warehouses with …

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by Zak Failla
Business
COVID-19: Retailers Install Plexiglass Barriers At Cash Registers To Protect Workers COVID-19: Retailers Install Plexiglass Barriers At Cash Registers To Protect Workers
Covid-19: Retailers Install Plexiglass Barriers At Cash Registers To Protect Workers Some of the nation’s largest retailers are taking drastic measures to ensure that staff and customers stay safe during the outbreak of the novel coronavirus (COVID-19). Walmart - and other national retail store chains - have installed plexiglass barriers at cash registers, and employees have been directed to wear masks, gloves and are being given additional breaks to wash hands. Additionally, Walmart has reduced store hours to allow employees to make time for sanitizing stores and installing the sneeze guards, which will help limit the spread of airborne droplets, which is the predominant w…

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by Zak Failla
Business
COVID-19: Macy's, Bloomingdale's, Nordstrom To Close All Stores COVID-19: Macy's, Bloomingdale's, Nordstrom To Close All Stores
Covid-19: Macy's, Bloomingdale's, Nordstrom To Close All Stores Three of the nation's largest retailers -- Macy's, Bloomingdale's and Nordstrom -- will be closing their stores temporarily due to the spread of the novel strain of the coronavirus (COVID-19). Macy's said it would close all stores, including Bloomingdale's locations, at the end of the business day on Tuesday, March 17 through Tuesday, March 31. That's the same time frame for Nordstrom's scheduled closure. Online stores for all three will stay open.  "The health and safety of our customers, colleagues and communities is our utmost priority," said Jeff Gennette, chairman and chief …

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by Joe Lombardi