Retail Industry Archive

Thrift stores see sales increase, donations decline — Although retail sales dropped 2.8 percent in October, not all retailers were feeling the sting. In fact, stores that sell second-hand goods actually have received a boost since the downturn began. “Nationwide, Goodwill has seen an increase of between 6 and 11 percent in retail sales because of the economy,” says Meaghan...

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Dollar Tree tangled in confetti string mess — When Dollar Tree Stores Inc. sold an estimated 1.8 million cans of novelty confetti string, a party didn’t follow; a grim case with the Environmental Protection Agency did. The nation’s largest dollar-store chain is set to pay a $120,000 civil penalty for selling aerosol cans of Zany String between September 2004 and May 2005. Cans...

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Retailers are dusting off their history books to determine how best to handle the downturn, and many are employing a few strategies from the Great Depression — and adding a modern twist. Layaway, the payment plan that became commonplace in the ’30s during the Depression, has become so popular lately that companies who did away with the service are eagerly re-instituting it. Layaway...

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Best Buy’s Wall Street warning must send shivers through anyone who does retail for a living. As quoted in today’s Wall Street Journal, the company announced it can no longer predict its own future.“Since mid-September, rapid seismic changes in consumer behavior have created the most difficult climate we’ve ever seen,” CEO Brad Anderson was quoted as saying. “Best Buy simply can’t...

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Spurned firm seeks $4 million from Boscov’s — Boscov’s department stores fell into trouble Nov. 12 when Versa Capital Management, a Philadelphia-based buyout firm who offered to save the chain from bankruptcy two months ago, told a federal judge it has a right to be compensated for the cash “lifeline” that allowed the stores to stay open. Versa Capital Management,...

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Although many retailers began their holiday campaigns weeks ago in a bid to boost sales, wary and cash-strapped consumers are likely to throw a wrench into those plans. Sure, most shoppers are planning to spend less on gifts this year — no surprise given the down economy — but they’re also planning on deploying their shrunken holiday budgets more frugally. Roughly 68 percent...

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American Apparel sued — American Apparel, the retailer that’s nabbed headlines for its suggestive advertising, is in the heat of the spotlight again, this time for a lawsuit filed by a former accountant who claimed he was fired after refusing requests from CEO Dov Charney to inflate figures on the company’s balance sheet. Roberto Hernandez alleges that in in 2006 Charney...

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Tickets.com makes shopping on cell phones easier — Tickets.com is among the growing number of forward-thinking Web sites embracing the latest evolution in online retail: m-commerce. Ticket.com’s new site, called ProVenueMobile, is located at Mobile.Tickets.com and is tailored for customers to access on their cell phones. The ticket vendor says the mobile-commerce site will help...

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Circuit City files for bankruptcy protection — After 59 years in business, retail giant Circuit City filed for Chapter 11 bankruptcy protection when the chain’s suppliers cut off credit and demanded up-front cash for shipments. Sales at the chain’s 1,500 locations have been declining for months, and the company owes $119 million to Hewlett Packard Co. “It’s very...

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Sears makes it easier for consumers to shop with their cellphones — Sears Holdings recently launched a new mobile e-commerce Web site structured specifically for shoppers wanting to buy merchandise on their cellphones or Blackberrys this holiday season. “It’s a great step for us on the mobile front; we will measure it on a daily basis,” says Ravi Acharya, Sears’...

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