You’ve seen the headlines: the death of retail, the retailpocalypse, the end of the shopping mall as you know it. Well, add another line to that narrative: Staples, the office supply store, has agreed to sell itself off for nearly $7 billion. Sales and profits at Staples have been dropping steadily for four years. So […]
The struggle is real for Sears Holdings — the company behind Sears and Kmart. The once-powerful brand warned investors back in March that there was “substantial doubt” about its future. This week, Sears announced it’s pushed back a deadline on a $500 million loan by six months. That’s got Sears vendors even more anxious about […]
Target reports its earnings Wednesday. After months of slumping sales and profits, the retailer is getting back to retailing basics: Renovating stores and pricing grocery items more competitively. That strategy means the Minneapolis-based retailer is abandoning some of the more futuristic innovations it was experimenting with. Click the audio player above to hear the full story.
Department stores, those vestiges of the past, just can’t catch a break these days. Yesterday, shares of both Macy’s and Kohl’s plummeted as investors grow more pessimistic about brick-and-mortar retail in an e-commerce world. There is one silver lining: Business from store-branded credit cards is up, but it likely won’t be enough to reverse the […]
