Latest Retail and wholesale News
Holiday shoppers increased spending by 3.8% despite higher prices
Sales rose this year during the holiday shopping season even as Americans wrestled with elevated prices for many groceries and other necessities, according to new data. Holiday sales from the beginning of November through Christmas Eve climbed 3.8%, outpacing the 3.1% increase from a...
Lawyers for ex-Abercrombie CEO say dementia may leave him incompetent to face sex charges
CENTRAL ISLIP, N.Y. (AP) — Defense lawyers say the former longtime CEO of Abercrombie & Fitch may have dementia, and a competency hearing is necessary to determine if he can face sex charges. Lawyers for Michael Jeffries said in court papers unsealed Monday in federal court in...
Starbucks strike expands, closes nearly 60 US stores
A five-day strike by Starbucks baristas had closed 59 stores as of Monday afternoon, according to the union organizing the workers. The strike, which began Friday in Los Angeles, Chicago and Starbucks' hometown of Seattle, spread Monday to stores in Boston, Dallas and Portland, Ore....
Nordstrom to be acquired by Nordstrom family and a Mexican retail group in $6.25 billion deal
Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal with the industry being squeezed by discount chains and other competition. Public companies are under a lot more scrutiny...
American consumers feeling less confident in December, Conference Board says
American consumers are feeling less confident in December, a business research group says. The Conference Board said Monday that its consumer confidence index fell back in December to 104.7 from 112.8 in November. Analysts forecast a rise to a reading of 113.8. Consumers had been...
The Container Store, buffeted by rough housing market and competition, seeks bankruptcy protection
NEW YORK (AP) — The Container Store has filed for bankruptcy protection as the storage and organizational goods retailer with roots dating back to the 1970s grapples with mounting losses and cash flow shortages. The Texas company has faced increasing competition from retailers like...
Pickup truck driver killed by police after driving through busy mall store is identified
KILLEEN, Texas (AP) — A pickup truck driver fleeing police careened through the doors of a JCPenney store at a busy Texas mall, injuring five people before he was fatally shot by officers, authorities said. A 53-year-old man identified as John Darrel Schultz of Kempner drove a...
Party City to close its stores as company files for bankruptcy
LOS ANGELES (AP) — For nearly 40 years, customers flocked to Party City for Halloween costumes, favors for children's birthday parties and decorations for New Year's Eve celebrations. Now, the go-to shop for everything from cartoon-themed balloons to Super Bowl decor is closing stores. ...
Big Lots conducts going-out-of-business sales after sale of company falls through
NEW YORK (AP) — Discount chain Big Lots is conducting going-out-of-business sales at its remaining locations after a sale of the company didn't materialize. The Columbus, Ohio-based retailer, which sells furniture, home decor and other items, filed for Chapter 11 bankruptcy...
Starbucks workers begin strikes that could spread to hundreds of US stores by Christmas Eve
Workers at Starbucks stores began a five-day strike Friday to protest lack of progress in contract negotiations with the company. The strikes by baristas and other workers were scheduled to take place in Los Angeles, Chicago and Seattle and could spread to hundreds of stores across...
