The new jobless figures are a reminder that retail will be hit hard as the recession puts more consumers out of work. Making matters worse for most retailers, the current recession comes after several years of what has been termed the War on the Middle Class. Backers of the concept cite globalization and tax policies favoring investors as eroding the economic position of the larger wage-earning...
Retail Industry Archive
December 2008
It’s official: The mall is boring, and that could turn into a big challenge for major retailers. A study conducted by the University of Pennsylvania’s Wharton School and the market-research firm Verde Group registered a critical complaint that is keeping consumers from spending more time at malls. Cookie cutter malls have lost their appeal. The study suggests that efforts to revitalize...
In a downturn, retailers often cut first from the invisible workforce, those inventory managers, stock clerks and other backroom warriors who don’t have much to do with the customer experience. And that’s a huge mistake, argues Harvard Business School professor Zeynep Ton. In fact, it’s just these employees who may make or break a deal with your customers. In an interview with HBS Working...
Amid declining comparable store sales resulting from a decrease in consumer spending, discount retailer Target is also being adversely affected by rising bad debt expenses as consumer creditworthiness continues to deteriorate, according to the third-quarter 2008 10-Q regulatory filing: Credit card receivables are recorded net of an allowance for expected losses. The allowance, recognized in an...
Wal-Mart paying $54 million to settle wages suit — Wal-Mart Stores Inc. agreed to pay $54.3 million to settle a lawsuit over wages after a Minnesota judge determined that the company broke state laws by requiring employees to work off-the-clock. The plaintiffs represent about 100,000 current and former employees of the world’s largest retailer, all of whom worked for the chain over...
More details are coming out about spending on Cyber Monday. Although the event took place over a week ago, the numbers are interesting if for no other reason than they suggest how consumers are shopping and buying. Know how people make decisions, and you are closer to understanding what they might want from you. But it turns out that the sources of information aren’t necessarily something...
Casual Male puts poison pill in place — Casual Male Retail Group announced on Dec. 9 that its board of directors has adopted a rights plan, also known as a “poison pill.” Poison pill is a term applied to a strategy companies use to thwart hostile takeovers, according to a BNET briefing. The plan the company announced is set to kick in “if an entity becomes, or launches a...
Rumors of a $99 iPhone coming to Wal-Mart may or may not be true, but they are evidence that the company sets low prices in holiday retailing even when it isn’t selling the goods involved. Even if the $99 iPhone never actually materializes, it seems certain that Wal-Mart will announce a deal with Apple to sell some version of the device just after the holidays. Still, a $99 Wal-Mart...
Times may be tough, but when they turn around, Bed, Bath & Beyond should be sitting pretty. Analysts and pundits beat up on the specialty store retailer when it cut back its quarterly forecast. Certainly, the company is in a tough sector, home furnishings and housewares, that was hit by the bursting housing bubble even before that lead to the current general economic malaise. So Bed, Bath...
Kingsbury crowned CEO of Burlington — Burlington Coat Factory Warehouse Corp. has a new CEO, plucked straight from the racks of Kohl’s. Thomas A. Kingsbury served as CEO of May Department Stores’ Filene’s division before joining Kohl’s to oversee e-commerce, marketing, and business development. Now at Burlington, Kingsbury replaces outgoing CEO Mark Nesci, who is...
- Sears Face(book)s Black Friday
- Target Pumping Up Its Image with the Right Food
- Costco Challenges Coke and the Stakes Could Be High
- When Walmart Comes to Town, Other Retailers Self Destruct
- Blackhawk Part Two: Gift Cards Replace Banks as Consumers Get Creative
- Target Is Missing a Big Opportunity to Open More Urban Stores
- Blackhawk Helping Supermarkets Grab a Chunk of Everyone's Gift Card Business
- The New Normal Won't Emerge as a Walmart World
- Would You Bet on Black Friday?: Q&A With Bookmaker.com
- Macy's Holiday Prospects May Be Good But Long-Term Chances Murkier
- Supermarkets Adding Bars So Gourmet Consumers Will Entertain Thoughts of Shopping
- CVS Retail Operations Power Forward
- Timing Is Right for Rue21's IPO, if it Doesn't Overexpand
- Whole Foods Slims Down Stores So They'll Age Better
- Save-A-Lot Part 3: Private Label Strength Boosts Growth Prospects
- TheFind.com Give Bargain Hunters More Options Online
- Costco Challenges Coke and the Stakes Could Be High
- Target Talks Cheap but Can't Resist Chic
- Wal-Mart, Target and Costco Shine as Private Labels Challenge National Brands
- Walmart Garanimals Expansion Signals Gentler Approach to Holidays
- Booksellers Take On Walmart, Target, Amazon Over Discounts -- But It's Just Business as Usual
- Pizza and Cupcakes Keep 'em Coming to 7-Eleven as Cigarette Business Slides
- Gap Stands Behind Flailing Banana Republic
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- P&G Retail Push Makes Sense, Risks Aside
- Walmart Readies Smaller Stores for Smarter Growth
- Duckwall-ALCO Rights Itself Amidst Recession
- Lauren Conrad YouTube Tops Kohl's Online Fashion Effort
- Giant Supermarkets Seek Advantage of Small Stores
- Neil Cole Steps Out From Brother Kenneth's Shadow With Iconix -- Or Does He?
- Costco Sees Key Product Categories Turn Positive in September
- Target Fashions a Comeback from Recession with Carlos Falchi, Jean Paul Gaultier
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BNET Retail provides daily industry trends and news coverage with insights for managers and executives about the key players in the consumer retail industry. In addition to detailed retail company profiles, we bring you industry analysis on new retailers, products, mergers and acquisitions, consumer spending figures, and a host of other important issues pertinent to the retail sector.