U.S. Job Growth Slows Unexpectedly to 145,000
“We had relatively strong and steady job growth over the year despite a number of headwinds," an economist says.
Pier 1 to Close 450 Stores as Q3 Loss Widens
The closures "will enable us to move forward with an appropriately sized store footprint and operating structure as an omnichannel retailer."
Bed Bath & Beyond Completes Sale-Leaseback
The $250 million real estate deal with a private equity firm "marks the first step toward unlocking valuable capital in our business."
E-Commerce Posts 18.8% Holiday Season Gain
Retailers offered omnichannel sales earlier in the season, "meeting consumers’ demand for the best deals across all channels and devices."
Gap Beats Estimates But Comp Sales Dip 4%
“We are not pleased with the third-quarter results and are focused on aggressively addressing operational issues," the struggling retailer says.
Macy’s Posts First Comp Sales Drop in 2 Years
“The mall is getting more toxic," one analyst warns. "Mall traffic will likely continue to wane over the years ahead.”
MedMen to Lay off 190 Workers in Profit Push
“We have a clear plan to increase our market share, while at the same time enhancing our margins and reducing our corporate overhead."
JCPenney Loss Narrows to $93M, Shares Jump
The ailing retailer's third-quarter results gave investors “some hope” that its turnaround efforts are “gaining traction.”
Gap Shares Dive on Old Navy Spinoff Doubts
The surprise resignation of CEO Art Peck has Wall Street "wondering whether the split could be delayed or abandoned altogether."
Authentic Brands Declares Victory In Barneys Auction; Rivals Don’t Concede
“Barneys is continuing to work towards a value-maximizing going-concern transaction," said a spokesperson.
WH Smith to Buy Marshall Retail Group
The deal will roughly double the size of WH Smith’s international travel business.