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Business
Bed Bath & Beyond Will Close At Least 40 Stores Bed Bath & Beyond Will Close At Least 40 Stores
Bed Bath & Beyond Will Close At Least 40 Stores Bed Bath and Beyond is planning to close at least 40 stores to help stem losses after it lost $253.8 million in the fourth quarter last year.  The home goods retailer, founded in 1971 and headquartered in Union Township, New Jersey, forecast dismal first-quarter profits, sinking shares in its stock on Friday, Feb. 12 as the company struggles to compete with online retailers such as Amazon. The 40 stores scheduled for closure were not announced.  While the company, with 1,550 locations and more than 60,000 employees, also announced it plans on opening around 15 new locations,…

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by Joe Lombardi
Business
Dollar Tree To Shut Down 390 Family Dollar Stores Dollar Tree To Shut Down 390 Family Dollar Stores
Dollar Tree To Shut Down 390 Family Dollar Stores Dollar Tree is closing at least 390 Family Dollar stores and will rebrand 200 others, the company announced in releasing its fiscal fourth-quarter earnings this week. Dollar Tree CEO Gary Philbin announced the plans on Wednesday, which will include renovating some locations to sell alcohol and $1 Dollar Tree merchandise sections. As many as 400 stores will get expanded refrigeration sections and some Family Dollar discount stores will be rebranded to the Dollar Tree brand. In total, the discount chain lost approximately $2.3 billion by the end of the fourth quarter. “We are further acceler…

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by Zak Failla
News
New Tips: Prevent Porch Pirates From Spoiling Holiday Season New Tips: Prevent Porch Pirates From Spoiling Holiday Season
New Tips: Prevent Porch Pirates From Spoiling Holiday Season With holiday season in full swing, e-commerce sales are on the rise. That being said, it only takes a moment for a package to get snatched and stolen right off of your porch by what people are calling ‘porch pirates.’ Police are raising awareness about this type of thievery, which is becoming increasingly popular in many areas. Here’s what you need to know about preventing porch pirate thievery this season: Get Packages Delivered to an Alternate Location If you live in an area that’s particularly prone to pirates, consider getting packages sent to an alternate address, like your workplace.…

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by Valerie Musson
Business
And We're Off: First-Ever $1 Trillion Holiday Shopping Season Expected And We're Off: First-Ever $1 Trillion Holiday Shopping Season Expected
And We're Off: First-Ever $1 Trillion Holiday Shopping Season Expected Black Friday is here and this holiday shopping season is expected to be one for the books. The spending forecast is above $1 trillion for the first time, with e-commerce sales comprising an estimated $123.7 billion, according to eMarketer. There are a number of ‘macroeconomic indicators’ that hint at this spike in shopping season sales; a positive labor market, increased consumer confidence, and overall GDP growth and lower unemployment. If estimates are correct, the total increase in spending will be 5.8% higher than last year’s sales and spending numbers.

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by Valerie Musson
Lifestyle
In Person Or Online? How Do You Get Groceries? Survey Shows Public's Choice In Person Or Online? How Do You Get Groceries? Survey Shows Public's Choice
In Person Or Online? How Do You Get Groceries? Survey Shows Public's Choice Online shopping for food and beverages? Most consumers are not ready to do that yet, according to a survey by Morning Consult.  Of the 2,000 American adult shoppers polled, more than two-thirds (67 percent) have never purchased packaged food or beverage products online, the e-survey and market research firm said in its “Consumer Insights On The Food and Beverage Industry” report. Meanwhile, 65 percent of those who have never bought groceries online indicated that they have no interest in doing so in the future, according to this report by supermarketnews.com Sixty-five percent of people who…

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by Jon Craig
Business
Amazon Hikes Cost Of Prime Service By 20 Percent Amazon Hikes Cost Of Prime Service By 20 Percent
Amazon Hikes Cost Of Prime Service By 20 Percent Amazon Prime is about to cost customers a few more dimes. Actually, more than a few. A 20-percent increase to be precise. Citing new Prime features and increased costs, Amazon CFO Brian Olsavsky announced on Thursday afternoon that the cost of membership will be upped to $119 annually beginning on May 11 for new customers. Existing members will see their bill increased as of June 16. Prime - once renowned for its free, expedited shipping - has introduced several new features since its inception, including streaming video, free two-hour delivery for certain products, Twitch viewing and dea…

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by Zak Failla
Business
Rite Aid, Albertsons -- With $83 Billion In Revenue -- To Merge Rite Aid, Albertsons -- With $83 Billion In Revenue -- To Merge
Rite Aid, Albertsons -- With $83 Billion In Revenue -- To Merge Supermarket giant Albertsons said Tuesday, Feb. 20 that it plans to buy the remnants of the struggling Rite Aid drugstore chain, according to multiple news reports. But this report by Fortune said Albertsons might be buying a lemon in Rite Aid.  Albertsons is touting a better ability to serve pharmacy customers as one of the merger's potential benefits. But in Rite Aid, Albertsons, a chain which operates grocery stores such as Safeway and Jewel-Osco on top of its namesake, is buying a severely diminished drugstore chain, Fortune reported. Meanwhile, Walmart saw its stock drop by more than…

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by Jon Craig
Business
Most Will Buy Groceries Online By 2024, Report Says Most Will Buy Groceries Online By 2024, Report Says
Most Will Buy Groceries Online By 2024, Report Says Grocery lists, frozen food aisles and produce sections may soon be a thing of the past, according to a new report, which states that consumers are continuing a nationwide trend of going digital to purchase groceries. Food Marketing Institute is reporting that as many as 70 percent of consumers will be buying their groceries online as soon as 2024, with Americans spending as much as $100 billion - $850 per household - annually purchasing food over the Internet. Last year, FMI predicted that digital food retailing would reach saturation in the next decade, but “2017 was a year of disruption.”…

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by Zak Failla