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Fort Worth
Friday, November 27, 2020
Business Reeling Retailers

Reeling Retailers

Other News

Left for dead, twice, RadioShack gets another shot online

SILVER SPRING, Md. (AP) — RadioShack, a fixture at the mall for decades, has been pulled from brink of death, again. It’s the most prized...

JC Penney sees bankruptcy protection exit by Christmas

NEW YORK (AP) — J.C. Penney believes it will emerge from bankruptcy protection before Christmas under a new ownership agreement that would save tens...

Petalo, not Charmin: Virus brings Mexican toilet paper to US

By JOSEPH PISANI AP Retail Writer NEW YORK (AP) — Toilet paper is back on store shelves. But you may not recognize some of the...

Mall owners close to buying JC Penney out of bankruptcy

By ANNE D'INNOCENZIO AP Retail WriterNEW YORK (AP) — Mall owners Simon Property Group and Brookfield Property Partners are close to a deal to...

J.C. Penney and Kohl’s gave investors reason to worry

after their first quarter earnings highlighted the

competitive challenges and shifting trends facing

department store operators.

Kohl’s stock suffered its worst loss in over two years,

plunging 12% to a 17-month low. J.C. Penny fell 7%.

Penney reported a surprisingly wide loss on lower

sales during the first quarter. Kohl’s cut its fiscal 2020

profit outlook as it struggled with slumping sales.

The chains’ reports contrasted sharply with rival

Macy’s, which smashed Wall Street estimates last week

and reported an increase in a key sales measure.

Increasing competition from off-price retailers like T.J.

Maxx and online shopping hubs like Amazon have forced

the industry’s biggest players to try reinventing

themselves. They’ve expanded online services and

become more selective about which products they sell.


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Latest News

Several local Walmart Supercenters remodeled in time for holidays

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Retail trade group sees solid holiday sales despite pandemic

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Arlington firm designing new hotel in Las Colinas

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New ownership at WineHaus

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