J.C. Penney on Friday released a list of 138 department stores it plans to close as part of a previously announced plan to shrink its footprint as it grapples with industry challenges. The company had estimated that it would close 130 to 140 locations. Most stores will begin liquidation sales April 17 and close in […]
Category: Market
Staples Announces The Closing Of 70 Stores Nationwide
Office-supplies retailer Staples plans to close another 70 stores this year, the company said Thursday. Staples made the announcement in its fourth-quarter earnings report, in which it disclosed it lost $548 million in 2016 as sales dropped 3 percent. The company did not say which locations will be shuttered. Staples has about 75 stores in […]
Despite Trump Boasts, Job Numbers Identical To Obama
President Donald Trump on Friday flipped his approach to the government’s employment report, celebrating the kind of strong showing he dismissed as phony under President Barack Obama. The Labor Department reported that the economy created 235,000 jobs in February, above the 190,000 consensus, allowing the president to claim that business enthusiasm over his approach to […]
Economy Adds Almost 300,000 New Jobs In February
WASHINGTON – U.S. private businesses added the most jobs in three years last month, a private survey found, a sign that hiring is picking up seven years after the recession ended. Payroll processor ADP said Wednesday that businesses added 298,000 jobs in February, up from 261,000 in January. The gains were led by a huge 66,000 […]
Despite Boycott Ivanka Trump Clothing Sales At All Time High
Ivanka Trump’s eponymous women’s fashion line is reporting record sales figures despite calls for a boycott and controversies surrounding President Trump. “Since the beginning of February, they were some of the best performing weeks in the history of the brand,” Abigail Klem, the president of the Ivanka Trump fashion brand, tells Refinery29 in an interview […]
Stock Market Soars After Trump Speech
U.S. stock-market indexes set a new round of records Wednesday as investors welcomed President Donald Trump’s conciliatory tone during his address to a joint session of Congress, despite a lack of details on his economic plans. Some analysts suggested that the absence of protectionist comments as well as his overall tone that was perceived as […]
Travel Ban Costing US Business Hundreds Of Millions Of Dollars
President Donald Trump is all about business, but one of his first actions prompted a slump in business travel to the U.S. Numerous reports show interest in both business and leisure travel to the U.S. declined since Trump took office. But there was an especially dramatic plunge after he signed a now-suspended executive order on travel Jan. 27 […]
JC Penny’s Closing 140 Stores
J.C. Penney (JCP) plans to close 130 to 140 stores and offer buyouts to 6,000 workers as the department-store industry sags in competition with online sellers and nimble niche retailers. The company said Friday that it would shutter 13% to 14% of its locations and introduce new goods and services aimed at the shifting preferences […]
Leaving NAFTA Could Hurt America’s Farmers More Than Mexico’s
Driscoll’s, the largest berry producer in the world, now grows about the same quantity of raspberries and strawberries in Mexico as it does in California. Many American producers have recently expanded their production to Mexico. Garland Reiter is one of the people behind the rise in imported food from Mexico. His family has been growing […]
Burlington Coat Factory Latest To Drop Ivanka’s Retail Line
BURLINGTON, N.J. — Ivanka Trump products have disappeared from the website of Burlington Coat Factory, a South Jersey-based retailer facing calls for a boycott from critics of President Donald Trump. But an online boycott campaign, #grabyourwallet, said it will continue to target the Burlington Township-based firm. “Burlington Coat Factory has removed all Trump brand goods from its […]
Trump To “Tweak” NAFTA
Canadian Prime Minister Justin Trudeau, a polar opposite to Donald Trump in almost every way, joined the new U.S. president at the White House on Feb. 13, 2017, keen to build a relationship that doesn’t threaten trade. President Donald Trump praised the “outstanding” trade relationship between the United States and Canada Monday, saying he would only […]
Kmart And Sears Drop Trump Retail Products
Two big box retailers have decided to stop selling Donald Trump’s brand of home products from their websites, as backlash builds against his administration. The Trump Home Line, which is owned by the Trump Organization, is no longer available on the Kmart or Sears websites, according to Business Insider. Sears insists that the decision is […]