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Business
Dollar Tree Sells Family Dollar For $1B As Tariffs, Online Rivals Pressure Discount Chains Dollar Tree Sells Family Dollar For $1B As Tariffs, Online Rivals Pressure Discount Chains
Dollar Tree Sells Family Dollar For $1B As Tariffs, Online Rivals Pressure Discount Chains Family Dollar is being sold for $1 billion — about one-ninth of what Dollar Tree paid for it a decade ago — as discount chains nationwide face fierce online competition and President Donald Trump's tariff threats. Dollar Tree will offload Family Dollar to Brigade Capital Management and Macellum Capital Management, the company said in a news release on Wednesday, Mar. 26. The deal follows a full review of strategic alternatives and is expected to close later this spring. Family Dollar will stay headquartered in Chesapeake, Virginia. The chain's current president Jason Nordin w…

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by Chris Spiker
Business
Forever 21 Collapses: Bankruptcy Forces US Stores To Shut Down, Reports Say Forever 21 Collapses: Bankruptcy Forces US Stores To Shut Down, Reports Say
Forever 21 Collapses: Bankruptcy Forces US Stores To Shut Down, Reports Say Forever 21 is going out of business in the US after struggling against online rivals Shein and Temu, according to reports. Forever 21 filed for bankruptcy protection for the second time in six years and has already started liquidation sales at more than 350 stores, CNBC reported. Its US operations are expected to shut down entirely unless a buyer steps in. Sparc Group, Forever 21's operator, had been searching for a buyer for months and contacted more than 200 potential bidders. Court filings show that 30 parties signed confidentiality agreements, but no viable deal materialized. Talks wit…

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by Chris Spiker
Business
Store Closings Surge To Highest Level Since Pandemic: Why 2025 Could Be Worse Store Closings Surge To Highest Level Since Pandemic: Why 2025 Could Be Worse
Store Closings Surge To Highest Level Since Pandemic: Why 2025 Could Be Worse Retail store closures surged in 2024, reaching their highest levels since the start of the pandemic, a new study said. A total of 7,325 U.S. stores closed in 2024, driven by inflation and an increasing shift toward online shopping, according to retail data firm Coresight Research. The closings marked the steepest decline in brick-and-mortar retail since nearly 10,000 stores closed in 2020. While 5,970 stores opened—the highest yearly number since 2012—closures outpaced openings by a net loss of 1,355 stores.  "Retailers that were unable to adapt supply chains and implement t…

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by Chris Spiker
Lifestyle
New Survey Reveals Gen Z’s Favorite Restaurant New Survey Reveals Gen Z’s Favorite Restaurant
New Survey Reveals Gen Z’s Favorite Restaurant When it comes to satisfying those hunger pangs, it turns out nothing does it for Zoomers quite like the delectably irresistible taste of America’s favorite chicken shack. A new survey by investment firm Piper Sandler found that Generation Z’s favorite restaurant is Chick-fil-A. Of those polled, 18 percent picked the Atlanta-based chicken chain as their favorite place to eat, followed by Starbucks (17 percent) and Chipotle (13 percent). The restaurant category was just one of several that was gauged as part of Piper Sandler’s 44th semi-annual “Taking Stock With Teens” survey, which includ…

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by Michael Mashburn