Target is canceling orders from its suppliers, particularly in home and clothing, while slashing prices of goods in a bold move to clear out mounds of unwanted inventory ahead of the critical fall and holiday shopping seasons.
Shares of Kohl’s rose as much as 12% Tuesday morning after the retailer said that it is in advanced talks to be sold in a deal worth about $8 billion.
While wealthier shoppers continue to splurge, low-income shoppers have pulled back faster than expected in the past two months. They’re focusing on necessities while turning to cheaper items or less expensive stores. And they’re buying only a little at a time.
Target Corp. is on pace for its worst stock drop since 1987’s Black Monday crash after becoming the second big retailer in two days to trim its profit forecast. Other retailers suffered steep drops in their stock prices Wednesday.
The department store said Wednesday that shareholders have voted to re-elect all 13 of its director nominees, according to a preliminary tally at its shareholders’ meeting.
Indianapolis-based Simon and Brookfield, which together bought rival department-store chain J.C. Penney Co. out of bankruptcy, have offered $68 a share for Kohl’s, according to people with knowledge of the talks.
After local shops observe Record Store Day on April 23, Indy CD & Vinyl will throw a 20th-anniversary party on April 24.
The Chapter 7 bankruptcy filing lists 359 unsecured claims from customers with unfulfilled orders, including many for thousands of dollars.
Kmart’s demise is attributed to the rise of Walmart and Target and online behemoth Amazon. But retail expert Mark Cohen says the company also was dogged by poor management decisions and could have stayed viable.
A group of trade associations that represent individual businesses including banks, retail outlets, truck stops, grocery stores and more is asking the Treasury Department for more help convincing Americans to get coins back in circulation.
After beginning the year in a buying mood, Americans slowed their spending in February on gadgets, home furnishings and other discretionary items as higher prices for food, gasoline, and shelter consumed more of their wallets.
Webster’s Sporting Goods, founded in 1972, has moved from its longtime location at 5060 E. 62nd St., just off Binford Boulevard, to Distinct Images’ location at 6830 Hawthorn Park Drive, near Binford and 71st St.
As part of its plans to spearhead sales growth, Kohl’s said it forecasts its Sephora business to become a $2 billion juggernaut.
When Target first announced in 2017 it would pay $15 an hour by 2020, it was one of the first major retailers to do so. But during the pandemic, a number of rivals like Best Buy followed suit, with some surpassing Target.
The moves are part of a larger effort to help the city’s core recover from the pandemic, and they’re getting help from a not-for-profit that has emerged as a local leader in diversity initiatives.
Volatility in retail sales data is emerging after the pandemic and as related supply crunches drastically altered the behavior of Americans
The long-running footwear store will own space below the residential condominiums at the Old Meridian Street location and lease some of it to other retailers.
Stores based on the concepts of selfie culture, miniature skateboards and intravenous nutrient therapy have either opened recently or are on the way.
Kohl’s said Monday that its board is reviewing the offers, sending shares up more than 30% in early trading Monday.
Vibenomics, which offers music, advertising and audio messaging for retailers nationwide, says its audio will be heard in the Iowa-based grocery chain’s stores beginning Feb. 15.
