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Store closing

10,000 stores are expected to close in 2021, as pandemic continues to pummel retailers

10,000 stores are expected to close in 2021, as pandemic continues to pummel retailers

By: Lauren Thomas
Source: CNBC
Date of Publication: January 28th, 2021
One retail research and advisory group predicts as many as 10,000 stores could be closed in the United States this year, which would set a new record, as the Covid pandemic continues to take a toll on the industry and companies rethink how many locations they can sustain.
Walmart to sell operations in recession-hit Argentina, taking $1 billion hit

Walmart to sell operations in recession-hit Argentina, taking $1 billion hit

By: Adam Jourdan, Eliana Raszewski
Source: Reuters
Date of Publication: November 6th, 2020
Walmart Inc, the world’s largest retailer, said on Friday it was selling its retail operations in Argentina to South American supermarket chain owner Grupo de Narváez, pulling back as the country grapples with an economic crisis.
Rent the Runway overhauls subscriptions as pandemic reshapes business

Rent the Runway overhauls subscription plan as pandemic reshapes business

By: Lauren Thomas
Source: CNBC
Date of Publication: September 17th, 2020
Rent the Runway is overhauling its membership plans, doing away with an unlimited rental option, as consumers change what they wear and how they shop for clothes during the coronavirus pandemic.
Why GNC filed for bankruptcy protection despite vitamin sales boom

Why GNC filed for bankruptcy protection despite vitamin sales boom

By: Shawn Baldwin
Source: CNBC
Date of Publication: September 17th, 2020
From New England to Southern California, chances are if you ever needed a potassium boost, there was a GNC at a nearby mall. But the company that urged Americans to “Live Well” has fallen on tough times. In June, GNC filed for protection from creditors in bankruptcy court, with plans to close about 1,000 locations — more than 10% of its global footprint.
Ulta Beauty Returns to TV Advertising After a Pandemic Pause - WSJ

Ulta Beauty Returns to TV Advertising After a Pandemic Pause

By: Alexandra Bruell
Source: The Wall Street Journal
Date of Publication: September 4th, 2020
The beauty giant pulled its ads off the air in March, when Covid-19 forced many retailers to shut their doors.
Stein Mart files for bankruptcy and plans to close most, if not all, of its stores

Stein Mart files for bankruptcy and plans to close most, if not all, of its stores

By: Lauren Thomas
Source: CNBC
Date of Publication: August 12th, 2020
The off-price retailer Stein Mart has filed for Chapter 11 bankruptcy protection and plans to shutter most of its stores.
Stein Mart operates 281 stores across 30 states in the U.S., according to its website.
Tailored Brands files for bankruptcy as pandemic hammers sales

Tailored Brands files for bankruptcy as pandemic hammers sales

Source: Reuters
Date of Publication: August 2nd, 2020
Men’s Wearhouse owner Tailored Brands filed for bankruptcy on Sunday, adding to a list of brick-and-mortar retailers that have succumbed to the economic fallout from the COVID-19 crisis.
Lord & Taylor Files for Bankruptcy as Retail Collapses Pile Up

Lord & Taylor Files for Bankruptcy as Retail Collapses Pile Up

By: Sapna Maheshwari
Source: New York Times
Date of Publication: August 3rd, 2020
Lord & Taylor, the floundering department store company that traces its roots to 1826, on Sunday became the latest retailer to file for bankruptcy protection as the coronavirus outbreak accelerates the demise of chains that were already teetering.
Ann Taylor parent Ascena files for Chapter 11 bankruptcy

Ann Taylor parent Ascena files for Chapter 11 bankruptcy

By: Lauren Thomas
Source: CNBC
Date of Publication: July 23rd, 2020
Ascena Retail Group has filed for Chapter 11 bankruptcy protection.
Hasbro revenue falls 29% as store closures, product shortages hurt sales; shares drop

Hasbro revenue falls 29% as store closures, product shortages hurt sales; shares drop

By: Sarah Whitten
Source: CNBC
Date of Publication: July 27th, 2020
Store closures, product shortages and lower retail inventory hampered Hasbro in the second quarter. Despite strong demand for toys in the quarter, Hasbro’s revenue fell 29% on a pro forma basis. Nearly 30% of its global toy and game revenue came from online sales.