Sears Holding Corp., which includes both Sears and Kmart, has been experiencing declining sales since they merged in 2005. However, their holiday sales really raised some eyebrows, as the company reported an adjusted loss of somewhere between $811 and $914 million in 2013…
Archives for January 2014
Sales tax holiday a boost for retailers
Justine Griffin/Sarasota Herald-Tribune—Following a relatively flat year for the retail industry and tepid back-to-school sales last August, Gov. Rick Scott’s proposal for an extended sales tax holiday in 2014 came as good news for retailers in Florida. The governor announced plans for a 10-day sales tax holiday as a part of his “It’s Your Money […]
Bargain Hunting in U.S. Spreads Christmas Coal to UPS
Jeff Green and Lindsey Rupp/Bloomberg BusinessWeek—The list of U.S. companies that didn’t get what they wanted for Christmas is growing. United Parcel Service Inc. (UPS:US) became the latest when it said yesterday that a crush of last-minute orders resulted in higher costs and lower-than-expected earnings. Earlier this week, Best Buy Co. said holiday sales fell, […]
J.C. Penney closing 33 stores, including Phillipsburg Mall location
Bill Landauer/The Morning Call—J.C. Penney Co. Inc. said Wednesday it will close 33 underperforming stores, including its Phillipsburg Mall location, and cut 2,000 jobs as part of its turnaround. About 50 people work at the Phillipsburg Mall store, which straddles Lopatcong and Pohatcong townships and is expected to close in early May. J.C. Penney, which […]
Retail and restaurants 2014: Conditions continue slow thaw
Tim Gallen/Phoenix Business Journal—After an up-and-down year, industry experts say retail will continue to recover in the Valley and statewide — but retailers themselves remain wary. Retail began to thaw in 2013, with an outlet mall opening and existing shopping centers adding new stores. Pent-up demand from consumers broke early in the year, said retail […]
Smal-Mart?
In my last column, I discussed some of the major trends that I see becoming a factor in 2014, with one of those being the continued movement for retailers to shrink their physical footprints. Most prominently, Target and Wal-Mart have begun exploring this option—specifically in urban markets where space is at a premium. In this […]
