60.3 F
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.


close






Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

Latest News

Several local Walmart Supercenters remodeled in time for holidays

Fort Worth and Arlington residents will soon get a first look at the newly remodeled Walmart Supercenters at 9500 Clifford Street, 8401 Anderson St....

Retail trade group sees solid holiday sales despite pandemic

By ANNE D'INNOCENZIO AP Retail Writer NEW YORK (AP) — The National Retail Federation, the nation's largest retail trade group, expects that holiday sales could...

Grapevine company acquires San Antonio family business

Grapevine-based Able Machinery Movers, a heavy machinery-moving and rigging company, announced Nov. 24 the acquisition of Diamond E Rigging, a family-owned rigging and heavy equipment relocation business...

Arlington firm designing new hotel in Las Colinas

Arlington-based Type Six Design & Development has announced the firm has received zoning approval from the City of Irving for a new six-story Hotel...

New ownership at WineHaus

WineHaus Fort Worth announced a change in ownership and updates to the popular wine bar located at 1628 Park Place Ave. New owners Robyn Davis...