retailers

J.C. Penney’s landlords reached a tentative deal to rescue the beleaguered department store chain from bankruptcy proceedings, averting a liquidation that would have threatened roughly 70,000 jobs and represented one of the most significant business collapses following the coronavirus pandemic, a company lawyer said during a brief court hearing Wednesday. Mall owners Simon Property Group …

America’s biggest dollar store chains reported better-than-expected quarterly profit on Thursday, as cash-strapped consumers sought lower-priced groceries and household items in a coronavirus-induced economic downturn. Sales at Dollar General and Dollar Tree remained robust even after the panic-buying surge at the start of lockdowns, with high US unemployment pushing demand for cheaper cereals, vegetables and …

Hudson’s Bay, the owner of luxury department store Saks Fifth Avenue, has ditched its plan to raise up to $900 million in debt after prospective investors requested a higher interest rate than the company was willing to pay, people familiar with the matter said Wednesday. The pulled bond offering highlights the perceived risk of lending …

J.Crew Group said Tuesday it expects to emerge from Chapter 11 in early September, after a bankruptcy court accepted its restructuring plan. The plan, approved by a Virginia federal court, will equitize over $1.6 billion of secured debt, and provide for $400 million in asset-based loans as well as $400 million of fresh financial aid. …

Consumer electronics retailer Best Buy warned of a slowdown in sales in the third quarter as it faces risks from the coronavirus pandemic including unemployment, lower government stimulus and potential product shortages. The company’s shares fell as much as 7.4 percent in early trading on Tuesday after it said sales growth, driven by record online …

Walmart said its online sales nearly doubled as locked-down consumers armed with stimulus checks stocked up on everything from milk to clothing during the pandemic. The world’s biggest retailer’s online sales spiked 97 percent in the most recent quarter ended July 31, with customers increasingly picking up their web-ordered groceries in the store parking lot, …

Zappos — the Amazon-owned online shoe retailer — appears to be launching a brick-and-mortar location. Sources said that Zappos has leased the three-level, roughly 16,000-square-foot corner of 19 Union Square West at 15th Street that was previously home to American Eagle and its concept-store spinoff, AE Studio. In addition to word of the deal from …

What better time to announce a fur ban than during a heat wave in August? Paragon Sports, New York City’s go-to sporting goods retailer for over a century, has quietly announced that it will no longer sell fur products in its store once the winter season end. “There has been considerable innovation in the non-fur …

Lord & Taylor, the oldest department store in the US, has become the latest retailer to file for bankruptcy protection. The nearly 200 year-old chain, which got its start in 1826 as a dry-goods store in Manhattan’s Lower East Side, said in a Sunday bankruptcy filing was pushed over the edge by the “unprecedented strain” …

Under Armour reported a smaller-than-expected quarterly loss on Friday, as it sold more merchandise online with customers staying at home during the coronavirus lockdowns, sending its shares up about 10 percent in early trading. Even as stores were temporarily shut, activewear companies such as Under Armour have been able to benefit from demand for home …