AndreaPalladio
Senior Member
I still treasure a Katherine Hammett sweater I got there years ago. I can't imagine going to Manhattan and not taking a browse through Century 21.
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The Retail Apocalypse
- Thread starter Johnny Au
- Start date
christiesplits
Senior Member
Seemed only a matter of time. Source?
AlbertC
Superstar
GNC nixes auction, plans to sell itself to investor
Sept 15, 2020
Dive Brief:
www.retaildive.com
Sept 15, 2020
Dive Brief:
- GNC canceled a bankruptcy auction for its business this week, the nutrition supplement retailer said in a court filing.
- GNC is moving forward with a sale to Harbin Pharmaceutical Group, its largest investor and partner with GNC in a joint venture in China.
- Harbin made a $760 million stalking horse bid for GNC following the retailer's bankruptcy filing. GNC said it received no other qualified bids by its deadline. A court hearing to consider approval of the sale is scheduled for Thursday.
GNC nixes auction, plans to sell itself to investor
With no other bids, the retailer is moving forward with a sale to China-based Harbin Pharmaceutical Group. The deal could be subject to regulatory scrutiny.
www.retaildive.com
Admiral Beez
Superstar
I wish someone would tell their customers, and lululemon’s that leggings are not pants.
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picard102
Senior Member
Why do they need to be pants? Nobody writes articles about shorts not being pants.
Towered
Superstar
I wish someone would tell their customers, and lululemon’s that leggings are not pants.
You're complaining about leggings? It's one of the best trends in fashion in decades.
Admiral Beez
Superstar
Only if one’s qualified.
AlbertC
Superstar
The upcoming launches of the next generation consoles, PS5 and X Box Series X/S, should help the video game retail industry:
www.retaildive.com
A long-awaited moment of truth for GameStop
As the next generation of consoles finally nears release, analysts are signaling more confidence in the struggling gaming retailer.
sixrings
Senior Member
half the game consoles will be all digital... so it's a short time boost but long time pain.The upcoming launches of the next generation consoles, PS5 and X Box Series X/S, should help the video game retail industry:
A long-awaited moment of truth for GameStop
As the next generation of consoles finally nears release, analysts are signaling more confidence in the struggling gaming retailer.
Towered
Superstar
I'll grant you that. Fortunately there are many who wear them who generate eye candy by doing so...
Johnny Au
Senior Member
GameStop/EB Games also have good sales from merchandise.
picard102
Senior Member
It's doubtful it could sustain the business though without games, especially second hand games.
Jasmine18
Senior Member
They make a good margin on selling used games
AlbertC
Superstar
Ralph Lauren to cut workforce by 15%
Sept. 22, 2020
Dive Brief:
www.retaildive.com
Sept. 22, 2020
Dive Brief:
- Ralph Lauren on Tuesday said it will simplify its organization and cut its global workforce by the end of its current fiscal year, to achieve savings of between $180 million and $200 million in gross annualized pre-tax expenses.
- This will be a workforce reduction of about 15%, a spokesperson said in an email. The company had about 24,900 employees as of March 28, and some 13,800 in the U.S., according to its most recent annual report. While physical footprint is always under review, Tuesday's announcement doesn't involve store closures, the spokesperson said.
- The plan will incur pre-tax charges of about $120 million to $160 million and entails consolidation of global marketing and branding functions; a new consumer intelligence and experience organization to leverage consumer insights and predictive analytics; and re-organizing corporate merchandising teams, according to a company press release.
Ralph Lauren to cut workforce by 15%
The apparel company is boosting its digital operations and cutting merchandising as it works to evolve despite unprecedented unknowns.
AlbertC
Superstar
H&M to close 250 stores next year
Oct. 1, 2020
Dive Brief:
www.retaildive.com
Oct. 1, 2020
Dive Brief:
- With about a quarter of its leases up for renegotiation or exit annually, H&M on Thursday said it plans a net decrease in its brick-and-mortar footprint next year of about 250 stores, according to a company press release.
- The fast-fashion apparel retailer also said that third quarter net sales fell 16% to 50.9 billion Swedish krona ($5.7 billion), as the pandemic kept hundreds of stores shut throughout the quarter.
- The company swung back to black from the previous quarter, with adjusted profit of SEK 2.37 billion. Gross profit reached SEK 24.9 billion and gross margin reached 48.9%.
H&M to close 250 stores next year
Even with a new emphasis on e-commerce, the plans are a major departure for the fast-fashion retailer. Yet they may not go far enough, some analysts say.