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“Ex-CEO Bob Nardelli warns organized retail theft an ‘epidemic’” As big-name retailers like Walmart and Home Depot warn of rising retail thefts this holiday season, two experts are predicting the surge “only escalates from here” into an “epidemic.” “Today, this thing is an epidemic. It’s spreading faster than COVID,” former chairman and CEO of Chrysler…
“Iconic NYC wine store Sherry-Lehmann may close after 88-year run: sources” Sherry-Lehmann — the posh wine store that has long cultivated a reputation as New York City’s preeminent booze merchant — is in danger of closing its doors as its free-spending corporate clientele continue to shy away from Midtown Manhattan, The Post has learned. The…
“Amazon records biggest ever Thanksgiving shopping weekend” Amazon said on Wednesday it recorded its biggest ever Thanksgiving weekend this year as shoppers, undeterred by inflation, scooped up everything from New Balance sneakers to Nintendo Switch gaming consoles. Fire TV Sticks, AirPods and Champion clothing were among the top-selling items, Amazon said. Amazon delivery vans being loaded with…
“Cyber Monday sales hit $11B as toys, electronics snapped up” Discount-hunting shoppers snapped up Pokemon cards, TVs and air fryers on Cyber Monday, pushing sales to $11.3 billion — making it the biggest US online shopping day in history, according to data from Adobe Analytics. Sales, not adjusted for inflation, rose 5.8% from a year ago, per…
“Ikea plans to cut prices despite high inflation” Ingka Group, the owner of most IKEA furniture stores, is planning additional price cuts as some input costs ease, its retail manager told Reuters on Monday, a reversal from price hikes introduced last year to counter soaring inflation. The world’s biggest furniture retailer raised prices in its fiscal year at the end of…
“Company termination ‘tore me apart’” She was looking forward to a big family Thanksgiving when Toria Neal got a text that upended her life: the mother of four was losing her job, along with everyone else in her company. “I couldn’t believe my eyes,” Neal, 36, told The Post. “The text said we were all…
“United Furniture Industries lays off 2,700 workers as they slept” A big US furniture company this week fired all of its 2,700 employees while they were sleeping, telling them in texts and emails not to come to work the next day, according to reports. The mass firing on Tuesday by United Furniture Industries, which makes…
“Black Friday shopping gets slow start as inflation soars” This Black Friday, inflation is weighing on shoppers heavier than last night’s turkey. In Chesterfield, Missouri, on Thursday evening, there were no customers lined up behind the barricades set up outside the Best Buy in anticipation of lines for doorbuster deals. “I see nothing. I’m surprised,”…
“Retailers add cameras, steel cables to deter holiday crime” Retailers ranging from Walmart to Barnes & Noble are installing cameras or locking away items to deter shoplifters and thieves as they brace for a post-pandemic rush of holiday shoppers this year. Some, including Walmart, J.C. Penney, Apple and Walgreens, put in place new surveillance systems or more security…
“Best Buy shares soar on upbeat holiday sales forecast” Best Buy on Tuesday forecast a smaller drop in annual sales than it had previously estimated, saying it was confident that a ramp up in deals and discounts will bring in more inflation-weary customers during the holiday season. The retailer’s shares jumped 11% to $79.06, after it also beat…