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“#Walmart sees promising holiday season as online sales soar” Walmart said Tuesday it was optimistic about its holiday sales prospects in a pandemic-ridden year after the big-box retailer beat Wall Street expectations for quarterly results as Americans increasingly shift their spending online. The surge in demand for essentials at Walmart seen at the peak of…
“#JCPenney set to emerge from bankruptcy after court approval” J.C. Penney is on course to emerge from bankruptcy by Thanksgiving, after a US bankruptcy court approved the sale of the ailing 118-year-old retailer to its two largest landlords and its primary lenders. The US Bankruptcy Court for the Southern District of Texas approved a purchase…
“#Walmart to take $1B loss after sale of its Argentina business” Walmart, the world’s largest retailer, said on Friday it was selling its retail operations in Argentina to South American supermarket chain owner Grupo de Narváez, pulling back as the country grapples with an economic crisis. Walmart did not disclose the size of the deal…
“#Election uncertainty taking toll on online shopping” Uncertainty around Election Day has put a crimp into online shopping. Consumers have spent less money on the web this week than experts had anticipated, according to a study, raising concerns that prolonged confusion and anxiety around the US presidential election could hit retailers as the holiday season…
“#Tupperware sees profits quadruple amid COVID-19 closures” Tupperware relied on social gatherings for explosive growth in the mid 20th century. In the 21st century, it is social distancing that is fueling sales. Restaurant pain has turned into Tupperware’s gain with millions of people in a pandemic opening cookbooks again and looking for solutions to leftovers….
“#JC Penney sees bankruptcy protection exit by Christmas” JC Penney believes it will emerge from bankruptcy protection before Christmas under a new ownership agreement that would save tens of thousands of jobs. The beleaguered, century-old retailer said Wednesday that it has filed a draft asset purchase agreement with the two biggest mall owners in the…
“#Saks pushing back its Barneys relaunch plans, CEO says” The coronavirus pandemic has sidelined efforts to revive the Barneys New York brand, The Post has learned. Barneys — an iconic high-end retailer that shuttered all of its stores for good in February after filing for bankruptcy last year — had been slated to make a…
“#B&H accused of discrimination by furloughed workers” Some furloughed employees at B&H Photo Video fear that they recently lost their jobs for good — and claim it’s because they reported unsafe working conditions during the coronavirus outbreak. After complaining about the company’s handling of the pandemic back in March — including packed indoor prayer services…
“#IKEA buying back customers’ old furniture for resale in its stores” People tired of their flat pack IKEA dressers, drawers, cabinets and tables will now be able to sell them back to the furniture retailer for resale in its stores as secondhand. The world’s biggest furniture group said Tuesday the “Buy Back” initiative was part…
“#COVID-19 pandemic hits retailers, causing holiday hiring slump” When the pandemic blew a hole in the US labor market last spring, the hope was for a quick return to normal. It’s clear that hasn’t happened, and with the critical holiday shopping season approaching workers face a new drag on their prospects. Companies appear to be…