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“#NY should give restaurants and retailers a tax holiday” Good news: After the horror of the past year, New York’s budget crisis isn’t as bad as it could be. Now, Team Biden is sending even more billions our way. Gov. Cuomo, Mayor de Blasio and lawmakers should use part of this money to support restaurants…
“#Michaels to be acquired by Apollo for $3.3 billion” Arts-and-crafts retailer Michaels said it has agreed to be acquired by private equity giant Apollo Global Management in a deal that values the company at $3.3 billion. The going-private transaction values Michaels’ outstanding stock at $22 a share, a 47 percent premium to the closing price…
“#All 270 US Apple stores open for first time since pandemic began” Apple said Monday all its 270 US stores have been opened, the first time in almost a year after it was forced to shutter several outlets because of the COVID-19 pandemic. The company has been cautious in re-opening its retail stores, using a…
“#Victoria’s Secret has soared in value during the pandemic” Victoria’s Secret is about to hit the block again — and the company’s price tag is set to grow a few sizes. Less than a year after a $1 billion deal to sell the struggling lingerie label got scrapped with the onset of the coronavirus crisis,…
“#Century 21 is plotting a comeback in the US and NYC” Century 21 is stitching together a comeback bid. The 60-year-old retailer — whose lower Manhattan flagship famously survived the 9/11 terrorist attacks, only to be shuttered last fall as the coronavirus forced the company into bankruptcy — is plotting a return to its hometown…
“#Walmart to raise workers’ average pay to $15 an hour” Walmart said it will raise workers’ average pay to $15 an hour, even as the world’s largest retailer warned that its pandemic-fueled growth is poised to slow this year, sending its shares down by more than 5 percent. The Bentonville-based behemoth’s comparable sales surged by…
“#Century 21 to reopen in South Korea later this year” This fall, price-conscious fashionistas once again will be able to get their Century 21 fix — in South Korea. The iconic Big Apple department store — a mecca for bargain hunters until it went bankrupt in September and liquidated its 13 stores in New York,…
“#Record retail spending expected in 2021” Consumer spending is on its way to reaching record levels in 2021. Retail sales will grow by 8.1 percent this year — the fastest pace this century — to a record $4.3 trillion, according to retail consulting firm Customer Growth Partners, which tracks government data and its own proprietary…
“#Towering business relief as E. 56th near Trump building reopens” The fancy Midtown block of East 56th Street between Madison and Fifth avenues finally reopened to vehicular traffic after a four-year shutdown — and nobody’s happier than the owners of an office building that isn’t even open yet. The closure was part of strict security…
“#Paul McCartney weighs in on JCPenney CEO search” Paul McCartney wants JCPenney to get by with a little help from his friend. The former Beatle recently introduced his longtime buddy and retail honcho, Herbert L. Becker, to the new owners of the bankrupt department store, suggesting him as a candidate for the CEO job, The…