JCPenney is starting the new year with a post-Chapter 11 restart, new owners, new financing and soon will have a new CEO. But the old problems that have faced Penney and other mall-based department stores remain, and it’s not clear how (or if) the company...
New eco-friendly commerce platform Hive Brands hopes it can be sort of the Whole Foods of sustainable goods, as well as function as the equivalent of the Good Housekeeping seal of approval for ethically made products. Get the Full Story Complete the form to unlock...
As part of a three-year roadmap to close stores, Macy’s reportedly told staffers at roughly 45 locations that they will shutter by mid-2021. The department store retailer intends to close 125 stores by 2023, as unveiled in the past, CNBC reported. Get the Full Story Complete...
After reportedly missing payments amid the pandemic as shops closed for a time and occupants didn’t pay rent, Mall of America has changed the stipulations of its $1.4 billion mortgage and is current on the debt, CNBC reported. Get the Full Story Complete the form...
In today’s top retail news, American Express is launching new offers to start off the year, while the chief economist for the National Retail Federation says the stimulus will help with the continuing recovery. Plus, brick-and-mortar retailers in the U.K. suffering from pandemic restrictions before...
While economic difficulty caused by the pandemic will continue this year, National Retail Federation Chief Economist Jack Kleinhenz said in a press release that the stimulus passed at the end of last year will assist in speeding up the country’s continuing recovery. Get the Full Story...
U.K. brick-and-mortar retailers already suffering from COVID-19 restrictions in the run-up to Christmas saw foot traffic plummet during the key Boxing Day/post-Christmas period as well. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
COVID-19’s hit to brick-and-mortar shopping and the broader global economy slammed worldwide luxury goods sales in 2020, but purchases are actually soaring among Asian, Gen Z and online shoppers — who are sometimes one and the same. Get the Full Story Complete the form to...
The traditional shopping mall consisting of retailers, a food court and maybe a hair salon or two is going the way of the dinosaur. But experts say they can survive — and even thrive — if they repurpose themselves into a mix of cool retailers...
