As an indication of how much retail real estate owners are struggling amid the pandemic, The Mall of America has reportedly skipped two payments on its mortgage of $1.4 billion. Research firm Trepp found that the Triple Five Group-operated shopping center missed the April and...
Shortly after Macy’s warned investors Thursday (May 21) of a probable $1 billion first-quarter operating loss, Jeff Gennette, the iconic store’s chief executive officer, spoke with J.P. Morgan Analyst Matt Boss about the future of retail. Gennette said a tidal wave of bankruptcies stemming from the...
Residents itching to visit the New Jersey shore over the Memorial Day weekend can break out bathing suits and head to the beach. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
That consumers have relocated their lives online in response to the pandemic is an easily visible fact when you look at earnings reports that successful retailers are releasing. For example, Walmart recently reported that eCommerce sales increased 74 percent year on year in the first quarter,...
Struggling retailer Macy’s warned on Thursday (May 21) that it expects as much as a $1.11 billion first-quarter operating loss, but said it was “on track” to access additional financing that presumably could help the chain avoid bankruptcy. Get the Full Story Complete the form...
Call them the “no-digital trio.” This will be a telling week for TJX, Bob’s Stores and Ross Dress for Less as they report earnings and reopen stores. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
Can’t go to the office. Can’t go out to dinner. In some places, people are still discouraged from leaving the house. And in most cities, going out is contingent on wearing a face covering. With the go-to reasons to get dressed up taken away, will...
To help merchants recover lost pandemic revenues, BounceX said it is making its SMS marketing offering available to new customers. The company, which will be called Wunderkind in the near future, opens a new channel for merchants seeking to bolster online shopping revenue to offset...
Any doubt about the seismic scale of the digital shift was put to rest this week as Walmart (up 75 percent) and Target (up 141 percent) reported earnings that showed clear spikes in eCommerce as a result of the pandemic. Get the Full Story Complete...
