Tag: Ohio

A Massive Bank in Ohio Has Now Shuttered 10 Branches

A massive bank in Ohio has now shuttered 10 branches according to the latest data from the Office of the Comptroller of the Currency.

Bank branches continue to close down as the digital landscape continues to grow.

The Office of the Comptroller of Currency has reported that Park National Bank closed ten locations in Ohio over the last week.

Park National Bank said that changing customer patterns and service preferences are key factors in the decision to modify its branch network.

Officials say the bank will be communicating directly with affected customers to explain options for continued service after affected offices close.

Below is the list of bank branches that closed in Ohio:

  • 898 East St, Athens
  • 2810 Maysville Pike, Zanesville
  • 220 E. State St, Newcomerstown
  • 1274 Hills Road N, Pickerington
  • 205 North Seltzer St, Crestline
  • 2148-G Eagle Pass, Wooster
  • 800 North Main St, Celina
  • 8 West Maple St, North Lewisburg
  • 2035 Dayton Lakeview Rd, New Carlisle
  • 1176 West Main St, Tipp City

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Also Read: Another Facility in South Carolina Now Announces An Unexpected Closure

Other Economy News Today

Market News Today - A Massive Bank in Ohio Has Now Shuttered 10 Branches.
Market News Today – A Massive Bank in Ohio Has Now Shuttered 10 Branches.

This massive discount retailer is now closing 1,000 stores as inflation pressures the company to shutter several locations.

Dollar Tree Inc. plans to close a whopping 600 of its Family Dollar stores during the first half of the year, the company said Wednesday.

The retailer also intends to close an additional 370 Family Dollar stores and 30 Dollar Tree stores in the coming years as leases expire, CEO Rick Dreiling said during an earnings call.

Consolidated net sales for the fourth quarter rose 12% to $8.6 billion from $7.7 billion year over year.

Quarterly net sales at the company’s namesake banner rose 15% to nearly $5 billion, up from $4.3 billion a year earlier.

Family Dollar net sales rose 7% to $3.7 from $3.4 billion.

Overall, the company posted a net loss of $1.7 billion for Q4.

For the full year, consolidated net sales rose 8% to $30.6 billion from $28.3 billion a year earlier.

However, the company swung to a net loss of $998 million from a prior year profit of $1.62 billion.

Overall same-store sales increased 4.6%.

By banner, Dollar Tree’s comps rose nearly 6%, while Family Dollar’s comps grew 3.2%.

Dollar Tree said in November that it planned to review its Family Dollar portfolio and identify underperforming stores for closure, relocation, or re-bannering.

The Virginia-based company, which had 16,774 stores in the U.S. and Canada as of last month, publicly shared the outcome of its review for the first time Wednesday.

Dreiling said persistent inflation and reduced government benefits continue to pressure the lower-income consumers that comprise a sizeable portion of Family Dollar’s customer base.

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Also Read: A Massive Grocery Store Will Now Close All Locations

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Market News Today - A Massive Bank in Ohio Has Now Shuttered 10 Branches.
Market News Today – A Massive Bank in Ohio Has Now Shuttered 10 Branches.

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Massive Grocery Store Is Now Being Evicted From Major Location

A massive grocery store is now being evicted from a major location, leaving employees without a job and customers in shock.

A Save A Lot store owner has been served an eviction notice with a deadline of Thursday afternoon to close the grocery store, reports The-Sun.

Employees were left helpless and pleading for the Hubbard, Ohio store – about 80 miles southeast of Cleveland – to remain open as they prepared to lose their jobs.

The grocery store employees only found out about the store closing earlier this week when managers informed them that the store must shut down by 3 pm on Thursday.

Ron Harris, the Save A Lot night shift manager, heard the eviction had to do with fixing the roof, according to local CBS affiliate WKBN.

“It’s, like, over $200,000, and he expects us to pay for it,” Harris said.

“He expects the owner of the business to pay for it, and he owns the property.”

Harris added that he was told the store is not required to fix the roof under its current lease.

The property is owned by McConnell Enterprises LLC, according to the Trumbull County Auditor’s website.

Someone from the company served the eviction notice to Save A Lot.

The landlord, Donn McConnell, did not want to evict the store as it has been able to pay its full rent, according to local NBC affiliate WFMJ.

However, the Save A Lot has only been paying enough to keep up with maintenance costs.

The sudden store closure will impact the employees as well as shoppers who relied on the location for affordable groceries.

Lorraine Adams, a cashier for the location, was sad about the store’s impending closure.

“The store is loved. It’s a great store. It’s the cleanest store in town. It’s the most affordable store in town,” she said.

“There’s going to be a lot of people who miss this place,” said Harris, the night shift manager.

Mary Tyson, a shopper at the location since its opening in 2011, said she will miss the friendliness of the staff.

“You can ask them anything, or they’ll come and show you if you’re looking for anything,” said Tyson.

“You have your regular customers, and they come in and just joke with you and ‘Hey, where have you been?’ ‘How was your surgery?’ ‘How’s your recovery going?’ You have the familiar faces. It’s like family,” said cashier Adams.

“We would like to keep the store open for the community, for the people that come in here that need us, we need them,” said Harris.

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Also Read: A Massive Grocery Store Will Now Close All Locations

Other Economy News Today

Market News Today - Massive Grocery Store Is Now Being Evicted From Major Location.
Market News Today – Massive Grocery Store Is Now Being Evicted From Major Location.

A massive shoe retailer is now closing a quarter of stores following a drop of 15% in sales last year, sources confirm.

Alongside a nearly 15% revenue drop for 2023, popular shoe retailer Allbirds on Tuesday named a new CEO, replacing co-founder Joey Zwillinger.

Joe Vernachio, who has been Allbirds’ chief operating officer since 2021, will now take over the top post and join the board of directors on Friday.

Zwillinger will stay on as a board member and a special adviser to the company, according to a company press release.

Allbirds co-founder Tim Brown stepped down from the co-CEO role last year and now serves as the brand’s chief innovation officer.

At the same time, Allbirds reported earnings, with revenue for Q4 and the full year both down by about 15%.

Fourth-quarter revenue was $72 million, while full-year revenue was $254 million.

The company’s current plan to close 10 to 15 stores — about 17% to 25% of its 60-store fleet — will cost its U.S. business about $7 million to $9 million, reports Retail Dive.

“Stores remain a highly effective way to meet new customers and drive omnichannel purchasing and omnichannel purchasing is the most profitable consumer journey we can generate,” Zwillinger said.

“As we focus on renewing brand momentum and driving sustained growth in the U.S., we are leaning into our most efficient stores in key cities where we want to win.”

International revenue will also be hit with $25 million to $28 million in costs as Allbirds moves from a straight DTC model to a distributor model.

Zwillinger on a call with analysts said the distributor model is a “more profitable” go-to-market strategy and is allowing Allbirds to consider entering more international markets going forward.

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Also Read: Another Facility in South Carolina Now Announces An Unexpected Closure

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Market News Today - Massive Grocery Store Is Now Being Evicted From Major Location.
Market News Today – Massive Grocery Store Is Now Being Evicted From Major Location.

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Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

You can also follow me on X (Twitter)InstagramFacebook, or LinkedIn for daily news and updates on your favorite stories.


Frank Nez’s Stock Portfolio

Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?

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11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.



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