#retailnews

[adafruit]

The de minimis exemption, update – USPS halts packages from China and Hong Kong? Yes, No… 🇨🇳📦✈️🇺🇸💰 … will talk about on tonight's show 8pm ET! https://blog.adafruit.com/2025/02/05/the-de-minimis-exemption-update-usps-halts-packages-from-china-and-hong-kong-yes-no/

[visionarycios]

Store Closures Reach Record High as U.S. Retail Landscape Shifts

https://visionarycios.com/wp-content/uploads/2025/01/1-Store-Closures-Reach-Record-High-as-U.S.-Retail-Landscape-Shifts-Source-massmarketretailers.com_.jpg

Source: massmarketretailers.com

Store closures across the United States surged to their highest level since the pandemic, with significant closures in 2024, and more expected in 2025. A new report reveals that major retailers such as Party City, Big Lots, Walgreens, and Macy’s have been at the forefront of this wave of closures, as a growing number of stores are being shut down due to changing consumer habits and the rise of e-commerce.

A Sharp Increase in Retail Store Closures

The number of retail store closures reached a peak in 2024, with 7,325 locations shutting down, according to a report by Coresight Research. This marks the sharpest increase in closures since 2020, the year the COVID-19 pandemic began when nearly 10,000 stores were closed. As the retail landscape continues to evolve, more closures are expected this year. By January 10, 2025, retailers had already announced 1,925 store closures, and projections estimate that this number will rise to around 15,000 by the end of the year.

Among the companies closing the most locations are Party City, Big Lots, Walgreens Boots Alliance, 7-Eleven, and Macy’s. These closures are part of a broader trend where certain retailers are struggling to stay afloat while others, like Amazon, Walmart, and Costco, continue to thrive by capitalizing on consumer demand for convenience and value.

Bankruptcy Surge Contributing to Closures

In addition to shifting consumer preferences, an increase in retail bankruptcies has contributed to the high number of store closures in 2024. According to Coresight’s data, there were 51 retail bankruptcies in 2024, nearly double the number from the previous year. Notably, Party City and Big Lots have been forced to close many of their locations as part of bankruptcy proceedings.

Despite strong consumer spending, which rose 4% during the holiday season in 2024, the dollars are flowing to fewer retailers. Major chains that have adapted to evolving shopping habits have benefited the most, while smaller, specialty retailers have struggled to remain viable.

Struggling Specialty Retailers

Specialty retailers have been particularly hit hard by the ongoing changes in consumer behavior. Companies like The Container Store, Big Lots, and Joann have filed for bankruptcy protection. The Container Store’s filing follows a broader trend where smaller retailers close stores or downsize due to shifting demands and market pressures.

It’s not just specialty stores that are feeling the squeeze. Companies like CVS Health, Dollar Tree’s Family Dollar, and rue21 have also experienced large-scale closures. For example, rue21, a teen apparel retailer, closed all of its stores following bankruptcy filings, further underlining the broader retail crisis.

The Impact of E-Commerce and Changing Consumer Preferences

Coresight Research attributes much of the decline in brick-and-mortar stores to the rise of e-commerce. Companies like Amazon, Shein, and Temu have significantly altered the retail landscape. In particular, Shein and Temu have seen explosive growth, generating billions in sales, with a significant portion coming from U.S. consumers.

Retail analyst John Mercer highlighted that while overall demand remains strong, it is being concentrated in fewer retailers that meet consumer preferences for convenience and low prices. He explained that smaller specialty retailers, especially those dependent on physical stores, have been unable to keep pace. Even minor declines in sales can be detrimental for retailers with high fixed costs like leases and labor.

Shifting Malls and Shopping Centers

The rise in store closures has also been linked to changes in mall traffic patterns. As major anchor stores like Macy’s close their doors, smaller retailers that rely on foot traffic may follow suit. Retail analysts suggest that many shopping malls and strip centers are being repurposed for other uses, such as fitness studios, urgent care clinics, or apartments, rather than being filled with new retail stores.

David Silverman, a retail analyst at Fitch Ratings, noted that population shifts and evolving consumer habits have led to a rethinking of retail store locations. The COVID-19 pandemic had already shifted where and how people shop, with many retailers reassessing their footprints in response.

Store Openings Still Strong

Despite the challenges faced by many retailers, some chains continue to expand. In 2024, store openings in the U.S. increased to 5,970, the highest number recorded since Coresight began tracking retail data in 2012. Leading the charge were Dollar General, Dollar Tree, 7-Eleven, and Five Below. The retail advisory firm predicts that 2025 will see approximately 5,800 new stores opening across the U.S.

A few key players are also pushing forward with store expansions, including Aldi, JD Sports, Burlington Stores, Pandora, and Barnes & Noble, which are expected to lead the list of store openings in 2025.

The Outlook for Retail

The U.S. retail industry is at a crossroads, with traditional stores closing in large numbers while e-commerce continues to reshape the marketplace. Retailers are grappling with how to adapt to changing consumer preferences and the growing influence of online shopping. As store closures continue to rise, companies will need to adjust their strategies, embracing new approaches to stay competitive in a rapidly changing environment.

[mreviewhub]

JCPenney is closing more stores in 2025! What does this mean for shoppers? Read more! 👇

JCPenney, one of the most well-known department store chains in the United States, has been facing financial difficulties for several years. As part of its restructuring efforts, the company has announced another round of store closures in 2025. This news has sparked discussions among shoppers and industry experts, leading to the topic trending on Google.

In this article, we will explore why JCPenney is closing stores, which locations are affected, and how this will impact customers and employees.

[worldviralnewstopic]

Is RadioShack back? Brand attempts return to relevance with consumer products, read more

[cpk8653]

@publishinggoblin @printedinternet @manufattincuoio @localnativesofficial @guide-to-arting-p-good @webeducationsciences @networkthirteen @supplethintummies @clubdrama @opticalecstasy @camera-raw @lenstudy @photography-ga @graphicporn @imageoscillite @scenehair-blog @visualizingmath @recording-guitar

[secretstalks]

Lord Rose’s Perspective on Mohsin Issa’s Leadership at Asda: Should He Step Down?

Lord Stuart Rose, chair of Asda, has expressed his embarrassment over the supermarket chain's recent decline in market share, calling for co-owner Mohsin Issa to step back from the daily operations of the retailer. In an interview with The Telegraph, Rose candidly admitted his dissatisfaction with Asda’s performance, saying, "I’m going to be completely honest with you. Having been in this industry for a long time, I feel somewhat embarrassed. I won’t deny it."

Rose’s comments come on the back of a report showing a 2.2% decline in Asda’s quarterly sales and a 5.3% drop in like-for-like sales. The retailer’s market share has slipped from 13.6% to 12.7%, losing ground to rivals such as Tesco, Sainsbury’s, Morrisons, and discount chains, according to Kantar data.

Rose suggested that Mohsin Issa, who co-owns Asda alongside TDR Capital, should distance himself from day-to-day operations to help turn around the company’s fortunes. “I would not advise him to get involved in operations, and I am the chairman,” Rose remarked. He emphasized that while Issa has been a disruptive and entrepreneurial force, the current phase of the business requires a different approach.

TDR Capital holds a 67.5% stake in Asda, with Mohsin Issa owning the remaining 22.5%. His brother Zuber Issa, who previously held a 22.5% share, exited earlier this year to focus on other ventures. Walmart retains a 10% stake in Asda, having sold the majority of its holding in 2021 when the Issa brothers acquired the chain for £6.8 billion.

In response to the challenging performance, Asda’s Chief Financial Officer, Michael Gleeson, outlined the company’s plans to revamp its store estate, increase staff hours for better shelf replenishment, and strengthen consumer loyalty.

Read More

[diginyze]

Next-Level Shopping: Unlocking the Potential of AR in Retail

Swipe, select, see - Augmented Reality is changing the game for online shopping!

Ever imagined trying on clothes or visualizing furniture in your home with just a click?

AR adds a whole new dimension to buying online.

Our latest blog post takes you on a fascinating journey of AR in retail.

[micheelm]

H&M Sues Fast Fashion Rival Shein for Copyright Infringement

[newsandmagazine]

[visionarycios]

Macy’s Discovers $154 Million in Hidden Expenses by a Single Employee

https://visionarycios.com/wp-content/uploads/2024/11/1-Macys-Discovers-154-Million-in-Hidden-Expenses-by-a-Single-Employee-Source-wfxrtv.com_.jpg

Source: wfxrtv.com

Macy’s revealed on Monday that a single employee was responsible for significant accounting irregularities, leading the company to delay its quarterly earnings report initially scheduled for release on Tuesday.

The company uncovered that the unnamed employee intentionally concealed up to $154 million in expenses over nearly three years. This discovery prompted an independent forensic accounting investigation. According to Macys, the employee, who is no longer with the company, deliberately made erroneous accounting entries to hide costs associated with small package deliveries.

Investigations and Findings

Macy’s has not disclosed the motive behind the employee’s actions. However, the hidden expenses represented a small portion of the $4.36 billion the company spent on delivery services between the fourth quarter of 2021 and its most recent period. Despite this, the irregularities were significant enough to postpone the company’s full quarterly earnings report to December 11.

Macys clarified that the false accounting entries did not impact the company’s cash management activities or vendor payments. So far, investigators have identified no other employees involved in creating the fraudulent entries.

CEO’s Statement

Macy’s CEO Tony Spring emphasized the company’s commitment to ethical practices. He stated that while the investigation is ongoing, the company remains focused on serving customers and implementing its strategies for a successful holiday season.

Investor Concerns

The accounting issue has raised concerns among investors and analysts, particularly about the effectiveness of the company’s auditing processes. Retail analyst Neil Saunders noted that such incidents could erode investor confidence, especially given Macys already declining performance.

Macy’s stock has fallen nearly 20% this year, and news of the accounting irregularities only added to the retailer’s challenges. Shares dropped nearly 3% following the announcement.

Preliminary Earnings Report

In a preliminary earnings release, Macys reported a 2.4% decline in quarterly sales, amounting to $4.7 billion. The drop was attributed to weaker digital sales and reduced demand for cold-weather clothing, as the country experienced one of its warmest falls on record.

While Macys sales continue to face challenges, its higher-end stores, like Bloomingdale’s, performed better, with sales increasing by 1.4%. Bluemercury, its luxury beauty retailer, also saw a 3.2% rise in sales.

Future Challenges

The decline in overall sales reflects ongoing struggles for the middle-market retailer. Analysts suggest that while Macys has made efforts to improve performance, the company still faces challenges across many of its stores. Macys has already announced plans to close hundreds of underperforming locations as part of a broader turnaround strategy.

In July, the 165-year-old retailer rejected offers from private investors seeking to take over the company, opting instead to pursue its own transformation plan.

As Macy’s works to address the fallout from this accounting issue, it faces mounting pressure to rebuild trust with investors and improve its operational performance. The incident underscores the importance of robust internal controls as the company navigates a competitive retail environment.

[jamesjaco]

[aticle]

Tesco Announces 400 Job Cuts Across Stores and Head Office

Strategic Move: Tesco's decision to reduce its workforce by 400 roles is part of a broader strategy to enhance efficiency and allocate resources more effectively within the company.

Industry Trend: This move aligns with a recent trend among major UK retailers, as evidenced by Sainsbury's announcement to cut over 3,000 jobs, indicating a sector-wide effort to streamline operations amidst rising costs.

Economic Factors: The job cuts are occurring in a context of increased operational costs for British companies, following the Labour government's budget in October, which raised National Insurance contributions and the national minimum wage.

Employee Support: Tesco has expressed its intention to mitigate the impact on affected employees by exploring alternative roles within the company, highlighting the availability of 1,000 current vacancies.

Operational Changes: The company plans to implement changes in its bakery model and update the management structure in Tesco Mobile phone shops, reflecting a focus on adapting specific areas of the business to current market demands.

[magazinepub]

[piyusha30]

Bed Bath & Beyond's Bankruptcy: The Changing Landscape of Retail in the Digital Age | RetailNews | BankruptcyAlert | BedBathandBeyond | ChangingRetailLandscape | OnlineShoppingChallenges | JobLossesInRetail | AdaptingtoDigitalAge | BrickAndMortarStruggles | RetailRestructuring | ConsumerBehaviorShifts|

Bed Bath & Beyond, a popular home goods retailer, has announced its plans to file for bankruptcy. The company, which has been struggling financially for some time, will close hundreds of stores as part of its restructuring efforts. The bankruptcy comes as no surprise to industry experts, who have been watching the retailer struggle to compete with online retailers such as Amazon. Bed Bath &…