Retailers Say Losing CIT Would Crimp Supply Chain
from The New York Times
For the nation's already struggling retailing industry, the collapse of CIT would send yet another wave of pain through the supply chain, wiping out suppliers’ capital, depleting retailers’ credit and leaving the racks and shelves of the nation’s stores sparsely stocked — just in time for Christmas. More
Ritz CEO Says Chain Will Continue
Ritz Camera CEO David Ritz said he is confident that his namesake retail chain will emerge from Chapter 11 bankruptcy as a going concern. In a statement issued this afternoon, Ritz confirmed that the company is negotiating with two potential buyers, either one of which would continue operations. According to the statement, Ritz Camera "takes issue with recent press characterizations of its decision to seek bids for the business," as was indicated in bankruptcy court documents. More
'Pop-up' Stores Add Buzz to Empty Spaces in Mall, Strip Centers
from The Orlando Sentinel
Here today and gone within months, companies large and small are opening more temporary storefronts in malls and strip centers. National-brand "pop-up stores" and tiny shops testing the market are becoming the retail world's version of a marriage of convenience. Commitment-shy store owners are setting up shop for just a few months in retail centers jilted by some of their more established tenants. More
7-Eleven Sees an Opportunity to Open Doors
from The New York Times
Already seemingly ubiquitous, 7-Eleven, the convenience store chain, is taking advantage of the weak commercial real estate market to carry out a major expansion plan. The company — which now operates or franchises approximately 5,700 stores across the United States — announced its growth strategy in May, saying it would add more than 200 new outlets this year. More
Reinventing the Floor Plan to Boost Customer Loyalty
from Integrated Solutions for Retailers
As the saying goes, when the going gets tough, the tough get going. But where, you might ask? In several cases, the answer lies in those under-utilized areas of the floor often outfitted with discounted merchandise that shoppers must pass through on their way to the “real” shopping destination. Call it Proprietary Pop-up. Traditionally found in specialty stores, these themed displays will soon be popping up in mass merchandisers. More
OfficeMax and FedEx Ink Multiyear Deal
from the Los Angeles Times
FedEx Express and FedEx Ground shipping will now be available at more than 900 OfficeMax Inc. retail locations. The two companies announced a multiyear agreement today that is set to roll out through July, August and September. The exact terms of the deal were not disclosed. “This expansion of the FedEx retail network is designed to benefit express and ground shipping customers, including small business shippers and consumers,” said T. Michael Glenn, FedEx Corp. executive vice president, market development and corporate communications, in a statement. More
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Eddie Bauer Reportedly Sold to San Francisco Firm
from Pacific Northwest Local News
Eddie Bauer could have a new owner. According to reports by Bloomberg News, Golden Gate Capital, a San Francisco-based leading private equity firm with $9 billion in capital under management, has offered $286 million for the company. More
Retail Rose-Colored Glasses
from The Associated Press via Forbes
The wave of questionable economic data washing over Wall Street during the past month has had a chilling effect on the retailing sector. Near the end of June, the World Bank downwardly revised its outlook on the global economy. Furthermore, the first week in July unveiled an unexpected drop in June's consumer confidence index and a weaker-than-expected June jobs report. With consumers still struggling amid a floundering jobs market, the outlook for the retail sector is far from rosy. More
Winners and Losers of the Minimum Wage Hike
from The Wall Street Journal
Millions of American workers are about to get a federally-mandated raise, but the recession has left many wondering if and how the economy will benefit. The raise, which will go into effect on July 24, represents the final wage hike in a three-step boost to the federal minimum wage increase passed by Congress two years ago. The minimum wage will rise 70 cents — or about 11 percent — to $7.25 per hour from $6.55. More
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Retail Landlords Grant Temporary Deferments, Come Up with Barter System to Set Off Rent Declines
from Retail Traffic Magazine
As vast numbers of U.S. retailers struggle with disappointing sales results month after month, the pressure has grown on landlords to grant relief. And after rebuffing such requests earlier in the year, many landlords are now reconsidering. The catch is that retailers need to truly prove the case that concessions are warranted. By all accounts, retailers have flooded landlords with concession requests all year. In extreme cases, some retailers have sent form letters to landlords asking (or demanding) blanket rental reductions. More
It's the Most Wonderful Time of the Year for Staples
from the Boston Globe
Staples Inc. is leaving nothing to chance when it comes to back-to-school shopping season. Not only does it plan to bring back a half-famous commercial from 15 years ago - titled "The Most Wonderful Time of the Year" - the Framingham-based retailer of office supplies has also issued two new press releases on this pressing subject. In one of those releases, Staples said it plans to mark the start of the back-to-school shopping season today by reducing prices on 250 school supplies and selecting one lucky school to kick off the season with a free shopping spree. More
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