COVID-19

Home Décor
Twin Star Donates Desks In COVID-19 Crisis

To support homebound students in need during the COVID-19 global pandemic, Twin Star Home has donated 500 desks to Chicago-area Bolingbrook High School and the Secondary Transition Experience Program, both part of the Valley View School District.

Home Décor
IMC White Paper Reveals Retail Reopening Sentiments

A survey of the gift, home furnishings and apparel industries commissioned by International Market Centers has determined that, although the COVID-19 crisis has affected all retail sales across the U.S., store owners and operators are looking toward reopening and recovery, and expressing a near-term need for new products.

Financials
Macy’s Forecasts Challenging Q1 Results

As it adapts to the coronavirus-impacted retail environment, Macy’s has provided preliminary sales and operating results estimates for the 2020 first quarter, which include significantly reduced sales, but also some good news from reopened stores.

Retail
Pier 1 Imports To Liquidate Operations

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.

Retail
J.C. Penney: Company Must Emerge From Chapter 11 Quickly

J.C. Penney stated in a bankruptcy court document that it must emerge from Chapter 11 quickly in preparation for the 2020 holiday season, shortly after announcing that it had received approvals from the U.S. Bankruptcy Court for the Southern District of Texas regarding First Day motions related to the company’s voluntary Chapter 11 petitions, including approval for it to access and use its approximately $500 million in cash collateral.

Retail
Lamps Plus Reopening Select Stores

Lamps Plus has opened three of its Texas stores, one each located in Arlington, Plano and Austin, as it gets its store operation running again. The company opened the Texas stores during the week beginning May 3 and is opening Nevada and Arizona stores this week, with all to be in operation by Friday, May 15.

Retail
Vesa Equity Takes 5% Macy’s Share, Intends Management Talks

Vesa Equity Investment has acquired a 5% stake in Macy’s, with its purpose, according to a filing with the United States Security and Exchange Commission, “to engage in constructive discussions with the issuer’s management and/or board of directors, other stockholders of the issuer and other interested parties that may relate to the business, management, operations (including cost structure), assets, capitalization, financial condition, strategic plans, governance and board composition and the future of the issuer.”

Retail
Amazon, Walmart, Google Credited For Pandemic Actions

Global market research firm Strategy Analytics, in its insights in its “COVID-19 Tracking Changing Consumer Behaviors and Implications for Brands” study, has determined that, in the U.S., Amazon, Walmart and Google have generated positive sentiment for their handling of the pandemic.

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