Retail

2019 Labor Day deals that’ll save you big time

Shop ‘til you drop. Labor Day is here and so are the sales that come along with it. Now that summertime is ending and the holidays are only a few months away, it’s shopping season. Whether you’re looking to add to your wardrobe or hobby list – or just want to update your pad, there are deals out there to make life easier. Here are just a few retailers Opens a New Window. that are open on Monday with sales that will save you a pretty penny. Just click here:

Enjoy!    🙂

 

Toys R Us to reopen stores in the US later this year: report

Toys R Us Opens a New Window. is expected to reopen stores just in time for the 2019 holiday season. Though the toy retailer closed down Opens a New Window. last year, Toys R Us is expected to launch an e-commerce site and several stores in the U.S. later this year, according to Bloomberg Opens a New Window. The new stores are expected to be about a third of the size of traditional Toys R Us outlets, but with play areas and other experiences, the outlet reported. To reduce costs, the stores could use a consignment inventory model, where the company would be able to return items that aren’t sold, Bloomberg reported. A former executive of the company, Richard Barry, has been trying to bring back the chain by pitching his ideas out to toy makers, sources told the outlet. Barry is now the CEO of Tru Kids, Inc., a new company that took over the Toys R Us brand earlier this year. “Effective January 20, 2019, the new company, Tru Kids Inc. doing business as Tru Kids Brands, became the proud parent of Toys R Us, Babies R Us, Geoffrey and more than 20 established consumer toy and baby brands,” Tru Kids Brands said in a press release in February. The new company will be led by Barry, the former Toys R Us global chief merchandising officer, as well as other experienced toy executives. “We have a once-in-a-lifetime opportunity to write the next chapter of Toys R Us by launching a newly imagined omnichannel retail experience for our beloved brands here in the U.S.,” Barry said in a statement announcing the plans. Barry added that despite unprecedented efforts to capture the U.S. market share this past holiday season by other retailers, there is still a significant gap and huge consumer demand that has been left behind by the demise of Toys R Us. He said that both brands still remain powerful in the marketplace and continue to have brand affinity and loyalty with more than 9.5 million followers across their social media channels. Barry told The Associated Press that while he and his team are still working out all the details on when and how the brand will re-emerge, they do plan to officially relaunch in some form by this holiday season. He also said that e-commerce will play a key role in the brand’s future. In September 2017, Toys R Us filed for Chapter 11 reorganization and later liquidated its business last March after falling prey to several billions in debt and tough competition from online retailers such as Amazon and Walmart. Tru Kids will be headquartered in Parsippany, New Jersey, about a 20-minute drive from Wayne, New Jersey, where Toys R Us was previously based.

Payless to liquidate stores and wind down e-commerce arm

Payless is about to enter the graveyard of retailers Opens a New Window. The company spokesperson confirmed to FOX Business Opens a New Window. it will begin a broad liquidation in the coming days. “Payless will begin liquidation sales at its U.S. and Puerto Rico stores on February 17, 2019, and is winding down its e-commerce operations. We expect all stores to remain open until at least the end of March and the majority will remain open until May. This process does not affect the Company’s franchise operations or its Latin American stores, which remain open for business as usual” according to the statement. The discount shoe retailer, according to its website, has “nearly 3,600 stores in over 40 countries, Payless is a global brand” reads the description. It also states it is the “largest specialty family footwear retailer in the Western Hemisphere” which makes this process the largest ever for a retailer, as reported by Reuters. Payless has been dogged by liquidation rumors in recent weeks. On Thursday Reuters was first to report liquidation was imminent. Last year, it announced it would file for bankruptcy for the second time in two years, the company previously filed for bankruptcy in April 2017. Payless is hardly alone, store closures and retail bankruptcies are on the rise as e-commerce retailers such as Amazon Opens a New Window. continue to lure shoppers. While Sears avoided a massive liquidation, after CEO Eddie Lampert Opens a New Window. bid $5.2 billion for the bankrupt retailer he ran into the ground, many employees were not pleased he would still be controlling the company. Another retailer J.C. Penney Opens a New Window. is also struggling and recently outlined a new strategy to stay afloat.

Sears to Liquidate After Takeover Bid Falls Through

Sears Holdings Corp’s future is in doubt as the retailer is expected to request a judge for permission to liquidate its assets after a $4.4 billion takeover offer, spearheaded by its chairman Edward Lampert, fell through, according to Reuters. Plagued by falling sales and heavy debt, Sears filed for Chapter 11 bankruptcy reorganization in October and announced plans to close 142 of its roughly 700 remaining stores and eliminate thousands of jobs. The 126-year-old company, whose closure would be among the most high-profile retail bankruptcies in recent years, struggled to convince suppliers to keep shipping it merchandise by touting the $300 million in financing it has secured in November so that its business could operate through the holidays. CNBC reports: “Lampert had put forward a $4.4 billion bid to save Sears and 50,000 jobs by buying it out of bankruptcy through his hedge fund ESL Investments. His offer, though, was deemed insufficient by Sears’ advisors, the people said A liquidation could still salvage pieces of storied retailer, like its home services business. Still, it marks the end of an era for the company that started more than a century ago as Sears, Roebuck & Co., and was once nation’s largest retailer. Its fall from grace saw it swing from being the “first everything store” to a business that couldn’t compete when “everything” was found online after Amazon arrived.” Sears has been struggling for several years with bare shelves and displays. A visit to a store at Newport Centre Mall in Jersey City, New Jersey, a few days before the bankruptcy filing showed large areas on the selling floor that had no merchandising racks and bare wall displays. In various documents, Sears itself acknowledged the problem, previously noting more than 200 suppliers have stopped or refused to ship merchandise to the company in the two weeks heading into bankruptcy, further crippling its business. Sears has failed to post positive same-store sales results since 2010, according to Retail Metrics data.

Dick’s Sporting Goods Says Gun-Control Stance Hurt Business, May Close Field & Stream

Dick’s Sporting Goods told investors during the Goldman Sachs Retailing Conference that its gun-control stance hurt sales of its hunting business, outdoors business, and that it may close its outdoor-focused Field & Stream stores. Edward Stack, chairman and CEO of Dick’s, said during the event that the sporting goods chain’s recent 3.9 percent drop in same-store sales was the result of a mix of factors beyond their control as well as some he called “self-imposed.” Specifically, he said, “the decisions we made on firearms” negatively affected their bottom line but the drop in sales was something they expected. They did not, however, regret their decision to change a number of their gun-sales policies and back new gun-control legislation. “Well I think it’s definitely a factor, and it’s nothing that we didn’t anticipate,” Stack said during the call. “As we put out kind of our guidance for the year and our earnings guidance for the year, we knew this would happen when—we’ve made some decisions on firearms in the past and we’ve had a pretty good idea of what these consequences were going to be. We felt that was absolutely the right thing to do. We would do the same thing again if we had a mulligan, so to speak, to do it again.” Dick’s first modified its gun-sales policy in the wake of the Sandy Hook shooting when it said it would no longer sell AR-15s and certain other semiautomatic rifles. The retailer quickly circumvented that pledge when it opened its outdoor-focused Field & Stream chain. But in the wake of the Parkland shooting earlier this year, the chain once again pledged to stop selling AR-15s and certain other semiautomatic rifles. In addition, Dick’s decided to hire their own gun-control lobbyists in order to push for stricter gun laws nationwide. That action led the National Shooting Sports Foundation—the firearms industry’s trade group—to expel the retailer. The retailer also said in February it would no longer sell firearms to legal adults under the age of 21. On Tuesday, the company settled an age discrimination suit stemming from that decision, according to a report from Oregon Public Broadcasting.

Dick’s has every right to shoot itself in the foot (pun intended) with such fascist, anti-gun, policies.  But, we-the-consumer have the right to take our business elsewhere…and we should.  For more, click on the text above.

Nordstrom Charging $425 for Fake-Mud Jeans

Fashion retailer Nordstrom is selling a pair of $425 jeans that allegedly show “you’re not afraid to get down and dirty.” The “Barracuda Straight Leg Jeans,” which come with a “caked-on muddy coating,” have been roundly mocked on social media, with Mike Rowe remarking that the jeans are intended to make someone appear like they have a dirty job when they do not. “The Barracuda Straight Leg Jeans aren’t pants. They’re not even fashion. They’re a costume for wealthy people who see work as ironic – not iconic,” Rowe wrote on Facebook. On “Fox & Friends” this morning, Brian Kilmeade echoed Rowe’s sentiment, saying that if you’re going to wear muddy jeans, you should earn the mud. He noted that the description on the Nordstrom website says the jeans “embody rugged, Americana workwear that’s seen some hard-working action with a crackled, caked-on muddy coating that shows you’re not afraid to get down and dirty.” “But yet you are afraid, because you have to buy somebody else’s dirt,” Kilmeade said. “It’s for the trust fund baby. It’s for the kid who inherits the millions of dollars, the kid who doesn’t want to work hard and wants to go into Nordstrom, pay a lot of money and act like they work,” Ainsley Eardhardt said. Steve Doocy said “hats off” to Nordstrom if they really can get $425 for these jeans, which are made in Portugal. “If got a closet full of clothes that could look just like that in about half an hour,” Doocy said. “If it works out, I’m going in to business too!”

You really can’t make this stuff up, folks!  This is the epitome of phoniness.  The official Nordstrom site says that wearing these ridiculous jeans “..shows you’re not afraid to get down and dirty.”  But, you are!  Otherwise, you wouldn’t buy jeans with fake mud to falsely portray yourself as someone who, in fact, does get “down and dirty” in the mud.  Wow..  Like I said, you really can’t make this stuff up..  Unreal..

Brick-and-Mortar Stores Are Shuttering at a Record Pace

American retailers are closing stores at a record pace this year as they feel the fallout from decades of overbuilding and the rise of online shopping. Just this past week, women’s apparel chain Bebe Stores Inc. said it would close its remaining 170 shops and sell only online, while teen retailer Rue21 Inc. announced plans to close about 400 of its 1,100 locations. “There is no reason to believe that this will abate at any point in the foreseeable future,” said Mark Cohen, the director of retail studies for Columbia Business School and a former executive at Sears Canada Inc. and other department stores. Through April 6, closings have been announced for 2,880 retail locations this year, including hundreds of locations being shut by national chains such as Payless ShoeSource Inc. and RadioShack Corp. That is more than twice as many closings as announced during the same period last year, according to Credit Suisse. Based on the pace so far, the brokerage estimates retailers will close more than 8,600 locations this year, which would eclipse the number of closings during the 2008 recession. At least 10 retailers, including apparel seller Limited Stores Co., electronics chain Hhgregg Inc. and sporting-goods chain Gander Mountain Co., have filed for bankruptcy protection so far this year. That compares with nine retailers that declared bankruptcy, with at least $50 million liabilities, for all of 2016. The seeds of the industry’s current turmoil date back nearly three decades, when retailers, in the throes of a consumer-buying spree and flush with easy money, rushed to open new stores. The land grab wasn’t unlike the housing boom that was also under way at that time. “Thousands of new doors opened and rents soared,” Richard Hayne, chief executive of Urban Outfitters Inc., told analysts last month. “This created a bubble, and like housing, that bubble has now burst.”