Layaway options crop up on e-commerce sites — While layaway services were made popular during the Great Depression, today’s economic downturn calls for a modern twist on the classic payment option, and eLayaway LLC is stepping forward. The company now has 1,000 participating merchants and recently launched an online shopping mall to get retailers started. eLayway allows consumers to...
Retail Industry Archive
October 2008
Hedge fund manager William Ackman of Pershing Square Capital Management has been rattling cages in the retail world for months now, at Borders, Barnes & Noble, and Longs Drugs. But Ackman hit the headlines this week by announcing that Target, in which he holds nearly 10 percent, should spin off its real estate to improve its balance sheet. Ackman told a Manhattan investor meeting this week...
Wal-Mart revamps look — Wal-Mart, famous for its bargain prices, has shifted its focus toward aesthetics, unveiling a new design for remodeled stores on Oct. 29. “We’re trying to make it more experiential, rather than just stuff we’re selling,” said Joe Tapper, vice president for store presentation. “We’ve placed emphasis on making it more...
In his most recent Trending Report, consultant Bob Gordman noted weak retail traffic and sales and predicted the next step at most stores: fall inventories would start backing up. He predicted that merchants would react by cutting back holiday and spring orders, and sure enough, Women’s Wear Daily reports this week that retailers have reduced their spring apparel orders 10 to 15 percent. Pity...
Barnes & Noble unveils strategy to keep consumers on its Web site — Barnes & Noble Inc. recently latched onto the social-networking phenomenon by rolling out an interactive program of its own: My B&N. The integrated Web service enables users to create personal profiles around their taste in literature, movies, and music; they can select “pen names” and avatars from...
Touchstone Pictures’ film version of Sophie Kinsella’s “Confessions of a Shopaholic” will hit theaters Feb. 14, months after the American love for buying things we can’t afford officially brought the world economy to its knees. Just today, the Conference Board announced that consumer confidence is the worst it’s ever been, taking a 23.4-point drop from September. In Ad Age this...
Value City Department Stores to liquidate – Value City Department Stores, once a chain comprising more than 100 locations, has filed for bankruptcy and announced plans to liquidate all merchandise. The 91-year-old chain joins Mervyns in efforts to unload all inventory during the holiday season. Value City, which listed assets of between $100 million and $500 million, was whittled down...
Goody’s goes against current with new strategy — While many retailers are focusing on online sales and seeking to utilize new channels, Goody’s Family Clothing is taking a step in the opposite direction by shutting down its e-commerce site as part of its emergence from bankruptcy. The apparel chain, which filed for bankruptcy in June, closed and liquidated 69...
The current economic environment could make for a challenging holiday shopping season for Mattel, the world’s largest toy manufacturer. Chief Executive Bob Eckert admitted to analysts on the third-quarter 2008 earnings call that borrowing difficulties were making it harder for some of the company’s retail distributors in Western Europe to acquire Christmas toy inventories, and that...
A South Carolina jury ordered Target to pay more than $3 million to a woman it accused incorrectly of trying to pass counterfeit money. Two years ago, Rita Cantrell tried to spend a 1974-vintage $100 bill at two different Target stores in Greenville, S.C. She was questioned at the stores and turned away. What made the case actionable happened next: A Target loss prevention employee sent an...
- Nordstrom, Saks Sales Turnaround Spells Hope for Department Stores
- Dollar Stores Holding New Shoppers Even as Recovery Buoys Rivals
- Faced with Walmart and History, Retailers Can't Avoid Deep Holiday Discounts
- Big 5 Sporting Goods Outperforms Peers With Big Discounts
- Kohl's Greens Up Its Image, and the Timing Couldn't Be Better
- Family Dollar Trying to Capture Higher-Income Customer
- Walmart Explores Routes to Conquering Amazon
- Kmart Rejuvenates Jaclyn Smith So Shoppers Forget Martha Stewart
- Sears Launches Its Own Black Friday, Targeting Apparel for Deep Discounts
- Consumers Plan More Online Spending But Wait While Watching Deals
- Walmart Prepares Facebook Push in Drive for Marketing Efficiency
- Vitamin Shoppe's IPO Highlights a Retail Sector With Spunk
- Macy's Believes It Can Boost Holidays with Santa and Queen Latifah
- Z Gallerie's Second Chance a Good Sign for Furniture Chains?
- Walmart Price Separation Leaving Retailers Behind, including Kroger
- TheFind.com Give Bargain Hunters More Options Online
- Target Challenged on Consumer Perception
- Booksellers Take On Walmart, Target, Amazon Over Discounts -- But It's Just Business as Usual
- Kohl's Staying Afloat on Consumers Trading Down
- Gap Stands Behind Flailing Banana Republic
- Wegmans Takes a Bite Out of Back to School
- Target Talks Cheap but Can't Resist Chic
- Wal-Mart, Target and Costco Shine as Private Labels Challenge National Brands
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- Whole Foods Twitters on the Cheap
- P&G Retail Push Makes Sense, Risks Aside
- Walmart Readies Smaller Stores for Smarter Growth
- Tiffany, Williams-Sonoma Rewarded for Poor Sales
- Conserving Cash is Blockbuster's "Winning" Initiative
- Target Talks Cheap but Can't Resist Chic
- Target Challenged on Consumer Perception
- Hhgregg's Uncommon Expansion Not Without Risks
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