department stores

Coresight: Challenges Loom For Mall Operators

Shopping malls face a tough go of it in reopening as coronavirus-related shopping restrictions ease, according to a Coresight Research report, with consumer wariness only one of the challenges they face.

J.C. Penney Slates 13 More Store Closures

J.C. Penney has taken the next step in implementing its store optimization strategy, adding 13 store closures as part of its second phase, pending court approval. Store sales are expected to begin on or around July 3.

J.C. Penney Begins Store Closing Sales

A team of disposition firms consisting of Gordon Brothers, Hilco Merchant Resources, Great American Group and Tiger Group have commenced store closing sales at 137 J.C. Penney stores across the U.S. The closures are the company’s first step in implementing a planned store optimization strategy.

Macy’s Secures Financing But Signals Q1 Loss

Macy’s has secured new financing to shore up its business, while revealing that its preliminary sales and earnings results for the first quarter included a loss and lower sales, although it said e-commerce and reopened stores are performing well.

J.C. Penney To Close 154 Stores

Following a comprehensive evaluation of its retail footprint and a careful analysis of store performance and future strategic fit for the company, J.C. Penney identified the first phase of 154 store closures.

Macy’s Responds To Herald Square Store Break In

Looters broke into Macy’s flagship store in New York’s Herald Square on the night of June 1 in the aftermath of protests related to the death of George Floyd, and the company issued a brief statement on June 2 about how civil unrest has affected the company.

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.

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.

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