retail

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Cash-Strapped Circuit City Looks to Close 150 Stores

Struggling to avoid a holiday season bankruptcy, retailer weighs options

(Newser) - Cash-strapped Circuit City may shutter more than 10% of its nearly 1,500 stores in North America and eliminate thousands of jobs, reports the Wall Street Journal. The company is considering the plan as a way to avoid a holiday season bankruptcy filing, which could leave customers wary of the...

Bankrupt Mervyn's Goes Belly Up
Bankrupt Mervyn's Goes Belly Up
Oct 18, 2008 6:39 AM CDT

Bankrupt Mervyn's Goes Belly Up

All of chain's 149 stores to be liquidated before end of year

(Newser) - Mervyn's will be closing all of its 149 stores before the end of the year and holding huge going-out-of business sales, the Bay Area's Daily Review reports. The California-based department store chain filed for bankruptcy in July and had been fruitlessly scrambling for a sale or a deal with landlords...

99 Cents Only Hikes Prices, But Only by 0.99 Cent

Discount chain follows 2 bum quarters with extra 99% of a penny

(Newser) - The store where nothing costs more than 99¢ has become the store where nothing costs more than 99.99¢, reports the LA Times. The top price at 99 Cents Only will go up by 99/100 of a penny this month, say executives at the discount chain, who blame inflationary pressures....

Jobs, Sales Send Stocks Diving
 Jobs, Sales Send Stocks Diving 
MARKETS
Sep 4, 2008 3:34 PM CDT

Jobs, Sales Send Stocks Diving

Dow off 344 as investors grow more worried about economy's health

(Newser) - The markets plummeted today amid poor jobs data and mixed retail sales, MarketWatch reports. Falling oil futures again failed to stimulate stocks as energy increasingly looks like a victim, not a perpetrator, of the economic slump. The Dow fell 344.65 to close at 11,188.23. The Nasdaq lost...

Losses Continue for 2nd Day
 Losses Continue for 2nd Day 
MARKETS
Aug 19, 2008 3:31 PM CDT

Losses Continue for 2nd Day

Stagflation stalks the Street; retailers post poor results

(Newser) - Stocks fell today for a second straight session as doubts about financials persisted and economic news painted gloomy outlooks on inflation and housing, MarketWatch reports. Disappointing quarterly reports from the retail sector made a bad situation worse. The Dow fell 130.84 to 11,348.55, the Nasdaq 32.62...

Financials Lead More Losses
 Financials Lead More Losses
MARKETS
Aug 13, 2008 3:30 PM CDT

Financials Lead More Losses

Dow falls 100 points for 2nd straight day

(Newser) - The markets saw losses today as anxiety about financial firms persisted and oil rose nearly $3 to $116 a barrel, MarketWatch reports. The Dow was hit especially hard, falling  109.51 points to 11,532.96. The other indices made afternoon gains but fell back, with the Nasdaq closing down...

Chicago Transit Explores Groceries in Train Stations

Agency hopes to reap $100M over 5 years with new developments

(Newser) - The Chicago Transit Authority is looking make more money from the real estate it owns, and is investigating installing grocery stores and restaurants inside “L” (elevated train) stations, the Tribune reports—with the agency hoping to generate $100 million over the next 5 years from such commercial development. "...

Former Retail Workers Stuck in Folding Mode

Gap-style training creates a generation of neat freaks

(Newser) - Countless current and former retail workers have an obsessive urge to fold clothes ironed into their brains, the Wall Street Journal reports. The Gap started the trend for tightly folded displays in the '80s and rivals quickly followed suit. A whole generation of retail alumni spent thousands of hours folding...

Booze Flows in Baghdad
 Booze Flows in Baghdad 
Jul 2, 2008 11:09 AM CDT

Booze Flows in Baghdad

Despite security risks, business is booming

(Newser) - Iraq may be a war-torn nation with deep-seated sectarian divisions, but things are picking up for a certain thirsty segment of the population. That’s right: booze is flowing again in Baghdad, McClatchy Newspapers reports. Though a predominantly Muslim nation, Iraq, even under Saddam Hussein, permitted any citizen to sip,...

New Shower Curtains Smell Like Cancer

PVC products linked to wide-ranging and long-lasting ills

(Newser) - Ever wonder about that smell given off by new shower curtains? Well, according to a new study, it’s poisonous. An independent organization has found that PVC shower curtains on shelves at Wal-Mart, Target, Sears and others may give off measurable amounts of dangerous, volatile organic compounds that could linger...

Street Rallies on Retail, Jobs
 Street Rallies on Retail, Jobs 
MARKETS
Jun 5, 2008 3:17 PM CDT

Street Rallies on Retail, Jobs

Wal-Mart among big winners as indices rebound from 3 days of losses

(Newser) - The markets rebounded from a 3-day losing streak today as retailers posted strong sales and weekly claims for jobless benefits fell, the Wall Street Journal reports. The Dow climbed 213.97, closing at 12,604.45, and the Nasdaq gained 46.80 to settle at 2,549.94. The S&...

Most Returned Electronics Aren't Broken

Consumers often can't figure out how to use them

(Newser) - Just 5% of the electronics that consumers return to stores actually don’t work, though often the buyers believe they’re broken, a new study says. In 68% of cases, “they thought it was defective when it wasn't, or there was an expectation gap,” an executive of the...

Ditching TV Ads Helps Put Gap Back on Track

Clothing seller sees profit up 40% after cutting marketing costs

(Newser) - The Gap's balance sheet is back in the black, helped along by its decision to stop spending on TV ads, Advertising Age reports. The clothing retailer slashed marketing spending by nearly a fifth in the first quarter and saw profits leap 40%, even as sales slumped. The Gap has switched...

Retail Sales Rise, but Consumers Spend Cautiously

...consumers spend cautiously and retailers hurt

(Newser) - Consumers gave some of the nation's retailers a little relief in April, following months of dismal sales, but business was helped along by heavy discounting that could hurt fiscal first-quarter earnings, AP reports. Early sales reports issued yesterday showed that shoppers—who are contending with rising gas prices, sagging home...

Bankrupt, Linens 'n Things Will Fold 120 Stores

Retailer files for Chapter 11 as consumer spending falls

(Newser) - Linens 'n Things filed for bankruptcy protection today, MarketWatch reports, and plans to close 120 stores nationwide as other operations continue. "The significant deterioration in the mortgage, housing and credit markets and the resulting impact on the retail marketplace, particularly the home sector, has overwhelmed the operating and merchandising...

Retailers Checking Out as Economy Falters

Each default brings widespread fallout

(Newser) - Stores across the country are closing their doors, the New York Times reports, victims of a downturn in consumer spending. Retailers are often heavily leveraged, and as the economy falters banks are tightening credit. Several chains, including Sharper Image, have declared bankruptcy; others like Footlocker, Ann Taylor, and Zales are...

Blockbuster Makes $1.35B Bid for Circuit City

Movie-rental chain takes its $6-$8 per share bid public

(Newser) - Movie-rental chain Blockbuster went public today with an offer to buy struggling consumer electronics retailer Circuit City for between $6 and $8 a share, reports the Wall Street Journal. Blockbuster made the offer—worth up to $1.35 billion—in February, but said Circuit City hasn’t opened its books....

Linens 'n Things to Go Bust
Linens 'n
Things to
Go Bust
Apr 11, 2008 6:50 AM CDT

Linens 'n Things to Go Bust

Home-furnishings giant may be first retail victim of market crisis

(Newser) - Linens ‘n Things ls expected to file for Chapter 11 by Tuesday, the deadline for a $15-million quarterly debt payment, the Wall Street Journal reports. The move would make the home-furnishings giant the first major retailer sunk by the housing crisis, after bloated debt and plummeting demand handed the...

For Sale: Video Vault of Wal-Mart Inner Workings

Spurned by retailer, production company sells years of footage

(Newser) - A tiny production company has decades of behind-the-scenes moments from Wal-Mart on film—and up for grabs. The chain hired Flagler Productions to film its inner workings for corporate events, but fired it two years ago, the Wall Street Journal reports. After Wal-Mart low-balled Flagler on the archive, it’s...

OMG, Txt Msg Shopping!
OMG, Txt Msg Shopping!
Apr 2, 2008 12:25 PM CDT

OMG, Txt Msg Shopping!

Amazon's new service lets consumers buy and compare prices on the go

(Newser) - Ruling the computer shopping world wasn’t enough for Amazon. Thanks to its new TextBuyIt service, customers can search the retail giant from anywhere… including, just as an example mind you, brick-and-mortar stores. Is Amazon specifically hoping to pluck price-comparing shoppers out of real world aisles? “We think they’...

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