Ross Stores reported a sales decline and a net loss in its fiscal 2020 first quarter. Both sales and earnings reflect the closure of all Ross Dress for Less and DD’s Discounts locations starting on March 20 through the quarter end due to the ongoing spread of COVID-19 throughout the U.S.
Today, May 20, J.C. Penney has reopened 34 Texas stores, 12 Florida stores, 11 Ohio stores, and seven Indiana stores bringing the total it has operating to 153 after temporarily closings due to the COVID-19 pandemic.
Bed Bath & Beyond has initiated a $10 million “Bringing Home Everywhere” program to donate essential items that can help people affected by COVID-19.
Kearney has released its annual consumer and retail M&A report, “Time to Reset, Reposition, and Win,” which explores the current and future deal landscape for consumer product and retail companies identifying omnichannel as a key retail acquisition need.
Kirkland’s has provided an update on store openings, e-commerce sales and its liquidity in light of most states in the company’s store base beginning to lift their stay-at-home orders.
After a long struggle to improve operations and financial performance, resulting in a Chapter 11 filing, Pier 1 Imports has filed a motion seeking bankruptcy court approval to begin an orderly wind-down of the company’s retail operations after store locations are able to reopen following COVID-19-related closures.