Daily business news in New York
NEW YORK — Macy’s, Inc., the nation’s largest department store chain, says it’s fighting for survival due to store closures and the coronavirus pandemic. The company announced details of a restructuring that will trim its costs with lower sales as the business recovers from the closure of stores from March 18 through May 4, 2020 […]
NEW YORK — Modell’s Sporting Goods is resuming going-out-of-business sales at 107 of its remaining stores following coronavirus shutdowns. A joint venture of Tiger Capital Group, Great American Group and SB360 Capital Partners is conducting the sales on behalf of the New York-based retailer in accordance with state and local social distancing and sanitation guidelines. Founded in 1889, […]
Target, the nation’s second-largest chain of discount stores, announced it will permanently raise the starting employee wage to $15 beginning July 5th. The chain had promised to raise wages to $15 an hour by the end of 2020. On top of that, Target is giving front-line team members in stores and distribution centers a one-time […]
Best Buy, the nation’s largest electronics retailer, announced that customers soon will be able to shop inside the majority of its stores without an appointment. Starting June 15, more than 800 locations across the country will begin allowing a limited number of people inside or 25% of capacity. Best Buy has 971 stores in the […]
Retailer JCPenney, with over 850 stores in the U.S. and Puerto Rico, filed for Chapter 11 bankruptcy in May and has announced plans to close 154 stores including 7 in New York all located upstate. The stores will hold going out-of-business sales for the next 10-16 weeks. “While closing stores is always an extremely difficult […]
PURCHASE, NY — As consumers increasingly turn online to stock their homes and apartments for food and beverages during the coronavirus pandemic, PepsiCo, Inc. has just launched two of its own sites to sell snacks directly to customers. PantryShop.com and Snacks.com are two new websites where shoppers can order an assortment of PepsiCo’s best known […]
Costco, the nation’s leading warehouse retailer, announced all customers must wear facemasks in stores beginning on Monday. Also, stores and gas stations are returning to normal operating hours. All Costco members and guests must wear a face covering that covers their mouth and nose at all times while at Costco. This requirement does not apply […]
NEW YORK — Tapestry — a retail company operating brands under Coach, Kate Spade and Stuart Weitzman — announced it plans to pay full-time employees thru May 30 but will start furloughing part-time employees on April 25. Tapestry stores have been closed in the U.S. and Europe since March 17 due to the pandemic and […]
Walmart, the nation’s leading retailer, says it is looking to hire an additional 50,000 workers to staff Walmart stores, Sam’s Club warehouse stores, distribution and fulfillment centers. The company announced just last month it would hire an additional 100,000 workers by the end of May and it has already reached its goal in less than […]
Dick’s Sporting Goods, the nation’s largest retail chain specializing in sports equipment, said it will begin furloughing 40,000 employees beginning this Sunday. Dick’s operates 726 stores under the Dick’s brand and 124 Golf Galaxy and Field & Stream stores. All are closed due to the coronavirus pandemic but some are still offering curbside pickup of […]