Chinese retailer Miniso signs lease at JEMB Realty’s 150 Broadway
Giving FiDi’s struggling retail sector a much-needed boost, Miniso, the Chinese “lifestyle” and consumer goods chain with more than 6,000 stores worldwide, including two in Manhattan, has signed a 5,000-square-foot lease at 150 Broadway at Liberty Street with JEMB Realty. The vacant corner used to be home to a Sephora. JEMB leasing director Joseph Hamway […]
Kohl’s shares tumble after retailer reports sales slump, lowers forecast
DR Barton, president of Woodshaw Financial Group, analyzes the consumer climate after Walmart’s strong earnings report in Varney & Company. Kohl’s shares plunged as much as 25 percent on Thursday after the retail giant reported an unexpected first-quarter loss and lowered its full-year earnings forecast. The department store chain reported a 5.3% drop in net […]
Retailer Express files petition for Chapter 11
Check out what’s being clicked on FoxBusiness.com Apparel retailer Express Inc. filed for Chapter 11 bankruptcy protection on Monday. Express said in a press release: “We continue to serve our customers in stores and online across Express, Bonobos and UpWest Brads, and plan to conduct business as usual as we work to right-align our lease […]
Linda Bean, an entrepreneur, GOP activist and granddaughter of outdoor retailer LL Bean, has died
Linda L. Bean, the granddaughter of famed outdoor retailer LL Bean who became an entrepreneur, philanthropist and conservative activist, has died at the age of 82. Bean died Saturday, her business manager Veronica Carlson confirmed in a written statement Sunday. No cause was given. “Linda was known for her incredible work ethic, entrepreneurial spirit, and […]
Nordstrom shares jump as founding family seeks to take retailer private: sources
Nordstrom’s founding family is looking to take the Nordstrom department store operator private six years after a similar attempt failed, people familiar with the matter said Tuesday. Deliberations on the deal come as Nordstrom and other U.S. retailers grapple with the effects of inflation and high interest rates to curb consumer discretionary spending. Another department […]
Crafts retailer Joann files for Chapter 11 bankruptcy
Fabric and crafts retailer Joan has filed for Chapter 11 bankruptcy protection as consumers continue to cut back on discretionary spending. The Hudson, Ohio-based company said in a release Monday that it expects to emerge from bankruptcy as early as the end of next month. Following this process, Joan will likely be privately owned by […]
Major Retailer Files For Bankruptcy As Americans Cut Back On Creature Comforts
Joanne, a major fabric and crafts retailer, announced Monday that it will file for bankruptcy as consumers cut back on spending amid tough economic conditions. The retailer recently reached an agreement with a majority of its financial and other financing parties to provide the company with approximately $132 million in new financing, while reducing the […]
Crafts Retailer JOANN files Bankruptcy
(WJET/WFXP) — Crafts retailer Joanne filed for Chapter 11 bankruptcy protection early Monday morning. With more than 800 stores nationwide, the company is best known for selling craft supplies, home decor, and sewing supplies. According to a press release, the filing will allow Joanne to continue operating its business while repaying its debts, so it […]
Target shares jump as retailer unveils membership program to rival Walmart, Amazon
Target on Tuesday reported an increase in holiday quarter profits despite a weaker-than-expected sales decline, and forecast that comparable sales for the year would be significantly higher than Wall Street expectations, as the company ‘s stock price rose 12%. The mass retailer is counting on same-day service, product launches and new membership programs to drive […]
Outdoor retailer REI slashes workforce by more than 350 workers, prepares for ‘challenging’ year ahead
Check out what’s being clicked on FoxBusiness.com Outdoor retailer Recreational Equipment, Inc. (REI) has laid off 357 employees, according to a message CEO Eric Artz shared with employees. REI announced the layoffs Thursday, detailing that 200 jobs will be affected at its headquarters near Seattle, six in sales and customer service, 30 in the experience […]