Ryan Kneller/The Morning Call—J.C. Penney’s announcement last month that it would close 33 underperforming stores, including its Phillipsburg Mall location raised an obvious question: “What is the future of the Phillipsburg Mall?” In recent years, the mall has been hemorrhaging stores, including high-profile retailers such as American Eagle, FYE, Gap and PacSun. This past year […]
Jeff Green Partners
Amazon turns cameras into credit cards
Quentin Fottrell/Morningstar—Amazon’s (AMZN) app for iPhone this week added “Flow,” an image recognition tool designed to allow consumers to add a product to their shopping cart by merely pointing their phone’s camera at it. Flow–as its name suggests–aims to make it as seamless as possible to shop. MarketWatch carried out its own “showrooming” with the […]
The Rougher Side of Sears
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…
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 […]
