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Macy's Employee Hid Up To $154M In Expenses Since 2021, Company Says Macy's Employee Hid Up To $154M In Expenses Since 2021, Company Says
Macy's Employee Hid Up To $154M In Expenses Since 2021, Company Says A Macy’s employee misstated up to $154 million in delivery expenses over several years, the company just said. The development forced the retailer to delay its third-quarter earnings report. The employee, whose name has not been released, has been fired. According to the company, the employee responsible for accounting small package delivery expenses made erroneous accrual entries to conceal the costs from the fourth quarter of 2021 through the most recent quarter. During that time, Macy’s reported a total of $4.36 billion in delivery expenses. The company conducted an independent investi…

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by Joe Lombardi
Business
Advance Auto Parts To Close Over 700 Stores Advance Auto Parts To Close Over 700 Stores
Advance Auto Parts To Close Over 700 Stores A nationwide auto parts retailers says it will close over 700 stores as part of “a strategic plan to improve business performance.” Advance Auto Parts, which has about 4,800 total stores, and locations in almost every state, made the announcement on Thursday, Nov. 14. The affected outlets will close by May 2025 and are made up of 523 corporate stores, and 204 independently owned locations. In addition, four distribution centers will also close. Specific locations to be closed have not yet been announced. In announcing the move, President and Chief Executive Officer Shane O’Kelly said…

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by Joe Lombardi
Business
Walgreens To Close 1,200 Stores Walgreens To Close 1,200 Stores
Walgreens To Close 1,200 Stores Walgreens plans to close about 1,200 stores over three years amid a decline in prescription drug payments and a rise in online competition. About 500 closures will come in 2025, the company announced in a statement released Tuesday morning, Oct. 15. Specific sites for store closures were not announced. Walgreens said its operating loss in fiscal 2024 was $14.1 billion, an increase of 104.5 percent compared to the year-ago period. Retail sales decreased 3.5 percent compared with the year-ago quarter, "reflecting a challenging retail environment and continued channel shift," Walgreens s…

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by Joe Lombardi
Business
7-Eleven To Close Hundreds Of Stores 7-Eleven To Close Hundreds Of Stores
7-Eleven To Close Hundreds Of Stores Convenience store chain 7-Eleven is closing hundreds of stores in North America. Parent company Seven & I Holdings said that the 444 locations were “underperforming.” They make up about 3 percent of 7-Eleven's total of around 13,000 outlets in the US, Canada, and Mexico. Specific sites of the stores have not yet been released. In announcing the closures, the company said that 7-Eleven stores saw a 7.3 percent decline in traffic in August, saying a "pullback in consumer spending has persisted beyond prior expectations" that has affected store traffic and sales growth "as consu…

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by Joe Lombardi
Business
Perdue Recalls Frozen Chicken Products Due To Possible Metal Contamination Perdue Recalls Frozen Chicken Products Due To Possible Metal Contamination
Perdue Recalls Frozen Chicken Products Due To Possible Metal Contamination Perdue is recalling frozen, ready-to-eat chicken breast nuggets and tender products that may be contaminated with foreign material, specifically metal. The US Department of Agriculture’s Food Safety and Inspection Service (FSIS) said the products may be contaminated with foreign material, The frozen, ready-to-eat chicken breast nugget and tender items were produced on Saturday, March 23.  The following products are subject to recall: 22-oz. (1.38-lbs.) vacuum-sealed plastic packages containing “PERDUE Simply Smart ORGANICS Breaded CHICKEN BREAST NUGGETS” with Best If Used By d…

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by Joe Lombardi
Business
Trader Joe's Recalling 653K Scented Candles Sold Nationwide Due To Possible Fire Hazard: CPSC Trader Joe's Recalling 653K Scented Candles Sold Nationwide Due To Possible Fire Hazard: CPSC
Trader Joe's Recalling 653K Scented Candles Sold Nationwide Due To Possible Fire Hazard: Cpsc Trader Joe's is cautioning customers to trash a certain scented candle that poses a potential safety risk, the grocery giant announced. The Consumer Product Safety Commission (CPSC) issued a fresh alert this week regarding its "Mango Tangerine Scented Candle," which they say may have an "unexpected burn pattern." In July, the company issued an alert about the products. According to Trader Joe's officials, the candle flame can spread from the wick to the wax causing a larger than expected flame, presenting a burn or fire risk. Trader Joe’s Mango Tangerine Scented Candle Trader…

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by Zak Failla
News
Auntie Anne's Drops Pretzel Perfume: 'You Know You Knead It' (POLL) Auntie Anne's Drops Pretzel Perfume: 'You Know You Knead It' (POLL)
Auntie Anne's Drops Pretzel Perfume: 'You Know You Knead It' (Poll) Auntie Anne's just dropped the hottest scent of the summer: Knead. The shopping mall pretzel giant announced its Eau De Pretzel, on Wednesday, Aug. 7, which according to a news release bottles up its unmistakable scent, most commonly associated with glossy floors and ambient lighting. "The perfume transforms the iconic aroma fans love into a wearable scent infused with notes of buttery dough, salt and a hint of sweetness," wrote Auntie Anne's, which began at a farmer's market in Downingtown, PA in 1998. "Each spritz evokes the experience of passing an Auntie Anne's stor…

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by Cecilia Levine
Business
Boar's Head Expands Deli Meat Recall To Include 7 Million Extra Pounds Boar's Head Expands Deli Meat Recall To Include 7 Million Extra Pounds
Boar's Head Expands Deli Meat Recall To Include 7 Million Extra Pounds Boar's Head has expanded a recall of deli meat products due to possible Listeria contamination. Click here for a new, updated story: Boar's Head Facing Lawsuit Over Deli Meat Recall  The company said on Tuesday, July 30, that it is now recalling approximately seven million additional pounds of ready-to-eat meat and poultry products.  This expansion includes 71 products produced between Friday, May 10, and Monday, July 29, 2024, under the Boar’s Head and Old Country brand names, the US Department of Agriculture’s Food Safety and Inspection Service (FSIS) said. They have “s…

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by Joe Lombardi
News
Costco Raising Membership Fees In US, Canada Costco Raising Membership Fees In US, Canada
Costco Raising Membership Fees In US, Canada The Costco Wholesale Corporation has announced membership hikes in the US and Canada for the first time in seven years, according to a news release by the company issued on Wednesday, July 10.  Costco opened the release sharing a June sales growth in the US of 5.6%, which is higher than the past 44 weeks of just 4.4%, the company experienced a decrease in revenue internationally.  On the heels of sharing that news, the company made the announcement about raising the membership fees in both the US and Canada beginning Sept. 1.  Annual memberships are rising $5 making them $65…

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by Jillian Pikora
Business
Trader Joe's Recalling Candles Sold Nationwide Due To Possible Safety Risks Trader Joe's Recalling Candles Sold Nationwide Due To Possible Safety Risks
Trader Joe's Recalling Candles Sold Nationwide Due To Possible Safety Risks Trader Joe's is cautioning customers to trash a certain scented candle that poses a potential safety risk, the grocery giant announced. The company issued an alert regarding its "Mango Tangerine Scented Candle," which they say may have an "unexpected burn pattern." According to Trader Joe's officials, the candle flame can spread from the wick to the wax causing a larger than expected flame, presenting a burn or fire risk. Trader Joe’s Mango Tangerine Scented Candle Trader Joe's The recalled candles, which are part of the company's seasonal rotation were sold nationwide. The pr…

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by Zak Failla
Business
Smile, You're On Body Camera: TJ Maxx To Equip Employees To Fight Shoplifting Smile, You're On Body Camera: TJ Maxx To Equip Employees To Fight Shoplifting
Smile, You're On Body Camera: TJ Maxx To Equip Employees To Fight Shoplifting To fight the recent rise in shoplifting and retail theft, shoppers could see store security employees wearing body-worn cameras to help catch thieves red-handed.  TJX, the parent company of TJ Maxx, Marshalls, Serria, HomeSense, and HomeGoods, said will begin equipping some employees with body-worn cameras similar to those worn by police, the Boston Globe reported. The company started testing the initiative last year.  The company operates nearly 3,400 stores nationwide.  A call to the Framingham, Massachusetts, headquarters of TJX for comment was not immediately r…

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by Josh Lanier