Ann Taylor Parent Ascena Mulls Bankruptcy Filing to Manage Debt

Ascena Retail Group, the owner of the Ann Taylor and Lane Bryant apparel chains, is discussing a potential bankruptcy filing with lenders after its business was thrown into disarray by the Covid-19 pandemic, according to people with knowledge of the matter. The Chapter 11 filing, which could come as soon as July, would allow the company to keep some of […]

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Furor Over Mask Requirements Mirrors Retail’s Open-Carry Rules

Last year, Walmart Inc. and Kroger Co. asked workers to gently encourage gun-carrying customers to leave their firearms outside. The ill-defined policies put employees in a difficult, even dangerous position, thrusting them onto the front lines of a contentious national debate. Now it’s happening again. This time the issue is shoppers wearing masks inside grocery stores. While many retail chains […]

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Pier 1 to Wind Down Operations as Virus Hurts Search for Buyer

Pier 1 Imports Inc. said it would seek bankruptcy court approval to wind down its retail operations after the coronavirus pandemic made it difficult for the U.S. retailer to find a buyer. The company said in a statement Tuesday it intends to sell its inventory and remaining assets, including its intellectual property and e-commerce business, through the court-supervised process. Pier […]

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Economic Recovery May Vary By Location: NRF Chief Economist

The National Retail Federation’s Chief Economist Jack Kleinhenz believes the economic recovery in the United States from the Coronavirus crisis would come gradually and may vary by location depending on the severity. His remark comes as more and more stores are reopening across the country after at least 30 U.S. states began easing lockdown restrictions and decided to reopen businesses […]

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‘Survival Mode’: How Billionaire Bosses Are Facing the Pandemic

Empty shopping malls in California and idled oil fields in Texas paint a dire picture for the American economy. The reality is more complex, as evidenced by the closely held firms that will play a decisive role in dictating the size and timing of any recovery. Bloomberg interviewed four billionaire owners of family-owned companies in real estate, oil, media and […]

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U.S. Retail Sales Plummet Amid Coronavirus Shutdown

Reflecting the impact of the coronavirus-induced shutdown, the Commerce Department released a report on Wednesday showing a record decline in U.S. retail sales in the month of March. The Commerce Department said retail sales plummeted by 8.7 percent in March after falling by a revised 0.4 percent in February. Economists had expected retail sales to plunge by 8.0 percent compared […]

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Factories shift operations in scramble to restock supermarket shelves

NEW YORK/LOS ANGELES (Reuters) – With supermarkets stripped of food and many other essentials, consumer product companies halted factory runs of niche items such as scented bleach in order to speed up production of more basic merchandise that is in high demand. Brick-and-mortar retailers have warned that hoarding toilet paper, cleaning supplies and food staples was fueling shortages. Amazon.com (AMZN.O), […]

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