'With Tough Times Comes Opportunity:' Chicago's Loop Businesses Optimistic With Vaccine's Arrival"We're hopeful that some of these other space will begin to fill up over time."
Neiman Marcus Becomes 2nd Major Retailer To Seek Chapter 11
J.Crew Files For Chapter 11 As Pandemic Chokes Retail SectorMore retail bankruptcies are expected in coming weeks, with Neiman Marcus and J.C. Penney also facing problems. Gap Inc. has warned it is running out of cash and is looking for an infusion.
Chicago-Area Malls And Stores Shut Down By COVID-19"It's like a ghost town. It really probably just needs to close."
No Checkout Needed: Amazon Opens Cashier-Less Grocery StoreFamilies can shop together with just one phone scanning everyone in. Anything they grab and leave the store with will be added to the tab of the person who signed them in. But shoppers shouldn't help out a stranger reaching for the top shelf: Amazon warns that grabbing an item for someone else means you’ll be charged for it if they walk out with it.
Walmart Tests Higher Hourly Starting Wages In 500 StoresThe moves come as Walmart, like many other retailers, is under pressure to improve customer service as it fights online behemoth Amazon.
Target, Like Other Retailers, Did Not Have A Merry ChristmasTarget and other discounters like Walmart have been among the strongest performers in retail even as Amazon continues to make inroads. They have reconfigured product lineups and improved delivery services with some success.
Season’s Greetings At Sears: Dingy Shops, Sparse ShelvesSears once towered over the retail landscape but has been on a slow decline for years. Lampert combined Sears and Kmart in 2005, pledging to return Sears to greatness. That didn’t happen. Sears was hit hard during the recession a decade ago and never recovered.
Barneys Seeks Bankruptcy Protection, Closes Stores Including Chicago LocationsStores in Chicago, Las Vegas and Seattle will close along with 12 concept and warehouse locations.
Best Buy Warns Of Higher Prices For Shoppers Due To TariffsCEO Hubert Joly said that he is working directly with the Trump administration to minimize the impact new tariffs could have on U.S. shoppers, and plans to continue to do so when he steps down as CEO next month and becomes executive chairman of the company's board.
Target's Online Game Is On TargetWalmart launched free next-day delivery on its most popular items this month in Phoenix and Las Vegas. It plans to roll out next-day delivery to most of the country by year-end, covering 220,000 items with a minimum order of $35. T
Store Troubles Increase For Kohl's, Penney'sDepartment stores have been trying to reinvent themselves as more shoppers go online. They've also been hurt by increasing competition from the likes of T.J. Maxx and other off-price stores, which offer coveted brands at cheaper prices.
Kohl's Goes All-In On Amazon, Bringing Free Returns To Every StoreThe retailer started a test with Amazon at 82 stores in Los Angeles and Chicago at the time and has since added close to two dozen stores in Milwaukee to the pilot.
Mainstream Retailers Embrace Marijuana's Less Taboo CousinRetail sales of CBD consumer products in 2018 were estimated to reach as much as $2 billion, according to Cowen & Co. By 2025, that figure could hit $16 billion in retail sales, the investment firm predicts.
Macy's Unveils New Store Experience In 36 LocationsThe concept, which curates merchandise around a theme and rotates every four to six weeks, comes at a time when department stores like Macy's are trying to rethink how to better excite shoppers who are increasingly going online.