Archive for month: October, 2023

 

Macy’s will open up to 30 more stores in strip centers, as it thinks outside of the shopping mall at CNBC. “Macy’s has tested the shops, which are roughly one-fifth the size of its traditional mall stores, for nearly four years. The stores offer a slimmed-down mix of merchandise, host local events, and have a more modern and open look. Plus, they’re next to big-box stores, grocers and popular off-price retailers like TJX-owned T.J. Maxx.” Read more | Press release

 

UPS and FedEx customers regain upper hand in delivery price battle at Reuters. “While deals vary widely between customers, shippers generally are reaping savings of around 8%-12% off list prices, said Mark Taylor, senior director of transportation consulting at Korber Supply Chain.” Read more

 

August job openings top 9.6 million, more than expected as labor market remains strong at CNBC. Read more

 

Walgreens Eyes Tim Wentworth, Ex-Cigna Executive, for CEO at Bloomberg. “If Wentworth is appointed, it would put a health-care veteran atop the country’s second-largest drugstore chain. Analysts see him as a strong choice. He’s well-known by investors and has extensive knowledge of payers and the pharmacy business, Evercore ISI analyst Elizabeth Anderson said in a note Friday.” Read more

 

Gucci, Chanel and Other Luxury Retailers Splurge on American Real Estate at Wall Street Journal. “Luxury retailers have leased 650,000 square feet of new space in the U.S. over the past 12 months, up from roughly 250,000 square feet the prior year, according to real-estate investment firm JLL. Strong sales since the worst of the Covid-19 pandemic convinced luxury retailers of the importance of bricks-and-mortar stores and enabled them to open more locations, said C. Ebere Anokute, manager of retail research at JLL.” WSJ subs.

 

Walmart changing titles, pay structure for corporate staff at Fox Business. “While most staff will receive the same or higher levels of stock compensation, about 4% of staff will see stock targets reduced to align compensation across different geographies. Those who are set to see a reduction in stock options will receive a one-time grant to account for the change in total compensation before their options are reset at a lower level going forward.” Read more

 

Former Abercrombie & Fitch CEO accused of exploiting men at Daily Mail. Read more

 

I visited one of the 9 Target stores about to close. It was depressing. at Business Insider. “While most of the kids I saw were respectful, that’s not to say they don’t cause some trouble. At one point, I heard a loud smack and an employee rushed over to find a plastic bottle of seltzer in a puddle on the floor. She directed customers around it while she asked someone over her walkie-talkie to come help clean it up. “Someone threw it,” one shopper told her. “It was a kid with a backpack.” Read more

 

Thief used Bluetooth to steal 800 gallons of gas by hacking into pumps at Fox Business. Read more

 

Facebook and Instagram users in Europe could get ad-free subscription option, WSJ reports at AP. “It’s not clear if EU regulators will sign off on the plan or insist that the company offer cheaper versions. The newspaper said one issue regulators have is whether the proposed fees will be too expensive for most people who don’t want to be targeted by ads.” Read more

 

Home Depot claims ‘Fast and Furious’ star Tyrese Gibson is lying in $1M lawsuit at NY Post. Read more

 

Walmart gives $800K to Atlanta organization for Black entrepreneurship at The Atlanta Journal Constitution. “Walmart is giving a $800,000 grant to the Russell Innovation Center for Entrepreneurs (RICE), a nonprofit dedicated to developing, growing and scaling Black entrepreneurs, the retail giant announced Monday. The funding will bolster efforts to train business owners who produce consumer goods.” Read more