Discount retail chain Big Lots may close up to 315 stores under new credit and loan terms, according to an 8-K filed with the U.S. Securities and Exchange Commission on Friday. In a public SEC filing in June, the Ohio-based retailer, which has locations in 48 states, said it planned to close 35 to 40…
Melissa Campanelli
Amazon Prime Day, which has become an industry-wide moment as consumers embrace deals across retailers, will drive $14 billion online — a 10.5 percent increase year-over-year — for U.S. retailers, according to data recently published by Adobe Analytics. The event, taking place July 16-17, will also bring steeper discounts, a rise in back-to-school shopping, and…
Tractor Supply Co. communicated via a press release last week that it is eliminating diversity, equity and inclusion roles; withdrawing carbon emission goals; and walking back support for the LGBTQ+ community as part of sweeping changes to environmental, social and governance initiatives. More specifically, the retailer of home improvement equipment, livestock and agricultural supplies for…
PHOENIX RETAIL, a newly formed joint venture comprising mall owners Simon Property Group, Brookfield Properties, Centennial, and brand equity and management firm WHP Global, received court approval on June 15 to acquire most of Express Inc.’s assets out of Chapter 11. PHOENIX will pay about $174 million split between $136 million in cash consideration and…
Retail sales jumped significantly in May, showing strong increases both month-over-month and year-over-year, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation (NRF). Total retail sales, excluding automobiles and gasoline, were up 1.35 percent seasonally adjusted month-over-month and up 3.03 percent unadjusted YoY in May, according to…
Father’s Day spending is expected to reach $22.4 billion this year, according to an annual survey released today by the National Retail Federation (NRF) and Prosper Insights & Analytics. This is the second highest figure in the survey’s history and on par with last year’s record of $22.9 billion. Half of consumers plan to purchase…
Continuing its emphasis on low prices, Target said last week it would be adding more than 1,000 low-cost summer items to its product assortment. The products, including swimwear, outdoor items, snacks, drinks and skin care products, will be priced as low as $1 and more than half will be priced below $15. To encourage summer…
Target has announced its plans for this summer's 2024 Pride Month, despite backlash it experienced during 2023 Pride season. At the time, people destroyed signage and merchandise and confronted store workers. As a result, Target pulled items from its Pride Collection off shelves that had been at the center of the most significant confrontational behavior. This,…
We're so excited to feature Cindy Carlisle, executive vice president and chief human resources officer (CHRO) of Foot Locker, Inc. in the Women in Retail Inner Circle Q&A this week. In her role, Carlisle oversees the development and execution of Foot Locker's global HR strategy. Prior to joining Foot Locker, she served as group vice…
We are so excited to feature Natalie MacLennan, CEO of Dockers, in the Women in Retail Inner Circle Q&A this week. As Dockers’ CEO, Natalie oversees all aspects of Levi’s casual lifestyle brand across product, marketing, operations and commercial. Since joining the Dockers team in 2020, Natalie has been pivotal in transforming Dockers into a…
Retail sales grew at a steady pace in March in part due to wage gains and easing inflation for goods, according to the CNBC/NRF Retail Monitor report, powered by Affinity Solutions, released on Monday by the National Retail Federation (NRF). According to the Retail Monitor report, total retail sales were up 2.72 percent unadjusted year-over-year…
James Rhee, the former CEO of Ashley Stewart who will be a keynote speaker at our our upcoming Total Retail Tech event, has published a book that hit the shelves this week. The book, "red helicopter — lead change with kindness (plus a little math)," is based on a specific event in Rhee's life: In…
99 Cents Only Stores announced last week that it had filed for bankruptcy protection in the United States Bankruptcy Court for the District of Delaware, days after it said it was closing all of its 371 locations. Founded in 1982, 99 Cents Only Stores currently operates stores in California, Texas, Arizona and Nevada. Number Holdings, Inc., the parent company…
DoorDash has entered the home improvement category with a new partnership with Lowe’s Companies. The delivery aggregator announced yesterday that it will offer on-demand delivery from more than 1,700 Lowes' stores nationwide. This partnership marks DoorDash’s first foray into the home improvement category and builds on the significant selection offerings on the platform, with more than 99…
The Home Depot said yesterday it is acquiring SRS Distribution Inc. (SRS) -- a materials provider across several verticals serving professional roofers, landscapers and pool contractors -- in a deal valued at approximately $18.25 billion. It would be Home Depot's largest acquisition in its history. The home improvement retailer expects the acquisition to close this…
