retail

B&H Photo & Electronics furloughed hundreds of employees this week — a move the iconic retailer had resisted for more than a month after its megastore in Manhattan was forced to shutter because of the coronavirus lockdown, The Post has learned. The 47-year-old electronics seller  — whose Manhattan flagship is known for its Orthodox Jewish …

Privately held fashion company J.Crew Group is preparing for a bankruptcy filing that could come as soon as this weekend, CNBC reported on Thursday, citing people familiar with the matter. The company is working to secure $400 million in financing to fund operations in bankruptcy, the report added, cautioning that timing could still slip, and …

Macy’s plans to reopen 68 US stores on Monday in states that have loosened coronavirus lockdowns, the department store operator said on Thursday, as more retailers sought to get business going after a crushing month of closures. Cincinnati, Ohio-based Macy’s, the largest US department store operator by sales, said it expects to have all of …

Target said on Thursday that rising costs from trying to meet the fast-changing needs of consumers during the coronavirus crisis were set to hurt its first-quarter profit and margins, even as it recorded robust online sales during March and April. The big-box retailer said digital comparable sales surged more than 275 percent in April, with …

Gap Inc. warned on Thursday it may not survive the next 12 months intact and would need to borrow more funds in the face of widespread coronavirus shutdowns that have crippled the business of clothing retailers globally. The apparel retailer also said it had suspended rent payments for shuttered stores, and was in talks with …

Walmart said it is creating one-way aisles at its massive superstores beginning Thursday in a bid to stem the spread of coronavirus. “One-way aisles are designed to increase social distancing and give customers more space on each aisle,” Walmart explained in a Facebook post this week. “There will be floor decals in place to help …

Gucci sales were hit hard at the beginning of the coronavirus crisis due to its strong reliance on Chinese customers, owner Kering said on Tuesday, though it added that the Italian brand should be well positioned for a recovery. Kering sales fell 15.4 percent, to $3.47 billion, in the first quarter, affected, like its rivals, …

Neiman Marcus Group is preparing to seek bankruptcy protection as soon as this week, becoming the first major US department store operator to succumb to the economic fallout from the coronavirus outbreak, people familiar with the matter said. The debt-laden Dallas-based company has been left with few options after the pandemic forced it to temporarily …

J.C. Penney is exploring filing for bankruptcy protection after the coronavirus pandemic forced the US retailer to temporarily shut its 850 department stores, upending its turnaround plans, according to people familiar with the matter. The Plano, Texas-based company has access to enough cash to survive in the months ahead, even as revenue dries up because …

US retail sales posted their sharpest drop on record last month as the coronavirus pandemic shuttered shops around the country, stark new data show. Retail and foodservice businesses raked in a seasonally adjusted $483.1 billion in sales in March, an 8.7 percent plunge from February’s revised total, the US Department of Commerce revealed Wednesday. That’s …