Tag: Retailer News (Page 1 of 8)

A Massive Shoe Company Now Opens Two Stores in California

A massive shoe company now opens two stores in California to “elevate retail” and to “engage with the diverse communities”.

Adidas is strengthening its presence in Los Angeles by opening two flagship stores in recent weeks, showcasing its commitment to the local community.

The German athletic brand has launched new locations in West Hollywood and downtown Los Angeles, aiming to serve as both retail hubs and cultural centers that embody creativity, inclusion, and sustainability.

The West Hollywood store, opened in August, is situated at 8428 Melrose Avenue and spans 5,390 square feet.

It features a curated selection of sought-after collections, including Y-3, Stella McCartney, and Adidas Originals, along with performance products tailored to local tastes.

Designed by Adidas’ in-house creative team, the store boasts a sleek, minimalist aesthetic infused with the vibrant energy of Los Angeles.

Its layout includes two distinct areas and “The Lab,” which highlights the brand’s stories and collaborations.

In contrast, the downtown Los Angeles store, which opened on September 12, focuses on the Adidas Originals line and pays homage to the city’s heritage while incorporating modern design elements.

Located at 761 S. Broadway, this two-level store will serve as a community hub, hosting workshops, events, and collaborations with local artists.

The architectural revival beautifully merges historic elements with Adidas’ signature blue branding.

“Los Angeles is a center for culture and a global destination for sports, arts, and entertainment,” said John Miller, president of Adidas North America.

“The city inspires our brand to innovate and create products that resonate with the diverse lifestyles of our consumers.”

These new openings reinforce Adidas’ mission to elevate retail and connect with the diverse communities of Los Angeles.

As part of its long-term strategy, Adidas is developing a new creative division within Adidas Originals called “OG L.A.”

This initiative aims to nurture local talent and highlight contributions to the city’s unique sports and lifestyle culture.

Miller emphasized, “The new flagship stores reflect our deep commitment to the city and its dynamic communities, blending creativity, performance, and sustainability to offer products and experiences that resonate with the culture of Los Angeles.”

These developments align with Adidas’ broader strategy to enhance its U.S. business.

In a recent interview, CEO Bjørn Gulden stressed the importance of connecting with the men’s market and urban consumers, stating, “To be a successful business in America, we need to be ‘more American’ and tailor our approach to fit local markets.”

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Also Read: Michael Jordan’s Flu Game Sneaker Is Now On The Way

Other Footwear News Today

Market News Today - A Massive Shoe Company Now Opens Two Stores in California.
Market News Today – A Massive Shoe Company Now Opens Two Stores in California.

Michael Jordan’s Flu Game sneaker is now on the way according to sources who confirm the memorable footwear is back.

The anticipation surrounding upcoming Air Jordan releases continues to grow, with reports confirming the return of one of Michael Jordan’s most iconic sneakers—the Air Jordan 12 “Flu Game.”

This highly celebrated sneaker is expected to rerelease in spring 2025, adding to the storied history of the Air Jordan line.

The “Flu Game” is famed for its association with Game 5 of the 1997 NBA Finals, where the Chicago Bulls narrowly defeated the Utah Jazz 90-88, taking a 3-2 series lead.

Michael Jordan, battling flu-like symptoms, played a nearly full game despite his illness.

Speculations about food poisoning circulated, but that didn’t hinder his performance; he scored 38 points, including a crucial three-pointer in the final moments.

This legendary display is regarded as one of the greatest moments in NBA history, and the sneakers he wore during that game have similarly earned acclaim.

Originally released in 1997, the Air Jordan 12 “Flu Game” features a striking black-and-red tumbled leather upper.

It saw its first retro release in 2003, followed by a special version in 2009 that used black suede and included nods to Jordan’s memorable performance.

The sneaker’s last appearance in its original form was in 2016.

In addition to the “Flu Game,” other notable Air Jordan 12 releases are on the horizon, including the “Barons” and “Blueberry” styles, along with a return of the classic “Taxi” version in 2025.

According to sneaker insider @zsneakerheadz, the Air Jordan 12 Retro “Flu Game” will be available in full family sizing during its spring release.

While pricing has yet to be confirmed, the model currently retails for around $200, per FN.

Fans eagerly await the chance to add this iconic sneaker to their collections.

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Market News Today - A Massive Shoe Company Now Opens Two Stores in California.
Market News Today – A Massive Shoe Company Now Opens Two Stores in California.

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Michael Jordan’s Flu Game Sneaker Is Now On The Way

Michael Jordan’s Flu Game sneaker is now on the way according to sources who confirm the memorable footwear is back.

The anticipation surrounding upcoming Air Jordan releases continues to grow, with reports confirming the return of one of Michael Jordan’s most iconic sneakers—the Air Jordan 12 “Flu Game.”

This highly celebrated sneaker is expected to rerelease in spring 2025, adding to the storied history of the Air Jordan line.

The “Flu Game” is famed for its association with Game 5 of the 1997 NBA Finals, where the Chicago Bulls narrowly defeated the Utah Jazz 90-88, taking a 3-2 series lead.

Michael Jordan, battling flu-like symptoms, played a nearly full game despite his illness.

Speculations about food poisoning circulated, but that didn’t hinder his performance; he scored 38 points, including a crucial three-pointer in the final moments.

This legendary display is regarded as one of the greatest moments in NBA history, and the sneakers he wore during that game have similarly earned acclaim.

Originally released in 1997, the Air Jordan 12 “Flu Game” features a striking black-and-red tumbled leather upper.

It saw its first retro release in 2003, followed by a special version in 2009 that used black suede and included nods to Jordan’s memorable performance.

The sneaker’s last appearance in its original form was in 2016.

In addition to the “Flu Game,” other notable Air Jordan 12 releases are on the horizon, including the “Barons” and “Blueberry” styles, along with a return of the classic “Taxi” version in 2025.

According to sneaker insider @zsneakerheadz, the Air Jordan 12 Retro “Flu Game” will be available in full family sizing during its spring release.

While pricing has yet to be confirmed, the model currently retails for around $200, per FN.

Fans eagerly await the chance to add this iconic sneaker to their collections.

For more Footwear News and updates like this, join the newsletter or opt-in for push notifications.

Market News Published Daily 📰

Market News Today - Michael Jordan's Flu Game Sneaker Is Now On The Way.
Market News Today – Michael Jordan’s Flu Game Sneaker Is Now On The Way.

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A Massive Mall Retailer Is Now Closing 150 More Stores

A massive mall retailer is now closing 150 more stores as it attempts to stay ahead of the curve by implementing nationwide changes.

Macy’s has been proactive in adapting its stores to changing consumer preferences, including revising its product offerings.

CEO Tony Spring mentioned during the retailer’s second-quarter earnings call that Macy’s has adjusted its assortments and marketing strategies to better balance value and fashion.

The company enhanced its promotions and targeted personalized messaging while focusing on strong product areas and reducing inventory in categories with lower demand.

Spring observed that customer behavior became more selective as the quarter progressed, likely due to ongoing economic uncertainty and complex news cycles.

Although second-quarter sales reached $4.9 billion—slightly below expectations—the adjusted earnings per share of $0.53 exceeded forecasts.

This indicates that Macy’s is actively managing its product lines to align with customer demand.

To further streamline operations, Macy’s is planning to exit markets where it doesn’t see profitable prospects.

The company has categorized its stores into “go forward” and “non-go forward” groups, continuing to invest in merchandise for the go-forward locations.

Macy’s plans to implement staffing tests for women’s shoes and handbags in about 100 go-forward stores this fall, which will help refine their strategies.

Meanwhile, the 150 non-go-forward locations will eventually close, but only after the company can secure favorable sales for those properties.

Spring noted that sales at go-forward locations outperformed those at non-go-forward stores by about 500 basis points, and the adjusted EBITDA for these locations was about 950 basis points higher.

While the closure of all 150 non-go-forward stores is inevitable, the process will be gradual, reports TheStreet.

Macy’s now expects to close approximately 55 stores this year, exceeding earlier estimates of around 50, although no specific timeline has been provided for the remaining closures.

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Also Read: Another Mall Clothing Retailer Now At High Risk of Bankruptcy

Other Economy News Today

Retail News Today - A Massive Mall Retailer Is Now Closing 150 More Stores.
Retail News Today – A Massive Mall Retailer Is Now Closing 150 More Stores.

A massive rental company with 34k locations now shuts down its operations after filing for bankruptcy and 22 years in business.

Users of movie rental company Redbox were left saddened after it was announced that it would be shutting down operations.

The announcement comes after the rental company’s parent company, Chicken Soup for the Soul Entertainment, filed for Chapter 11 bankruptcy.

According to court documents obtained by the Washington Post, the Connecticut-based company claimed to be one billion dollars in debt.

As a result, Redbox, which was a staple of many grocery stores including Walgreens, and CVS will be shuttered.

Many fans took to social media to express how upset they were with the loss.

“I knew it was coming, sadly,” UltraVada wrote in a post on X, formerly Twitter.

“It was inevitable,” a second person mourned.

“I knew this would happen when I heard they filed for Bankruptcy but its still sad to hear. I have a lot of fun memories of Redbox,” a third person lamented.

“I still don’t think this will be or ever be the end of physical media as we do still get remasters of some movies in 4k/Bluray.”

One person revealed that they had forgotten the rental service had existed.

Some users were not surprised by the announcement.

“Not surprised since nobody really rents videos anymore with the rise of streaming and what not,” one user admitted.

“Also kinda remember getting into a feud with them on here.”

One user also pointed out that the last remaining Blockbuster, located in Bend, Oregon, managed to outlive Redbox.

Redbox was acquired by Chicken Soup for the Soul Entertainment (CSSE) in 2022 and became one of the company’s flagship video-on-demand streaming services.

At its peak, CSSE operated more than 20,000 DVD rental kiosks across the country.

The company’s filing means that the company’s more than 1,000 employees will be laid off, per The Wall Street Journal.

It was also reported by Deadline that many employees at CSSE hadn’t received their paychecks and had medical benefits cut in late June.

Also Read: This Massive Mall Retailer Is Now Closing In California

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Retail News Today - A Massive Mall Retailer Is Now Closing 150 More Stores.
Retail News Today – A Massive Mall Retailer Is Now Closing 150 More Stores.

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Massive Retailer Shein Now Reports 2 Cases of Child Labor

Massive retailer Shein now reports 2 cases of child labor, according to its recent annual sustainability and social impact report.

The instances occurred from Q1 to Q3 of 2023, and upon discovery, the company said it suspended orders from the manufacturers and “undertook investigations.”

The errant suppliers were given 30 days to remediate their offenses, the company said in a statement.

Shein did not identify any cases of child or forced labor in Q4.

Shein said it terminated contracts with the underage employees and confirmed payment of outstanding wages.

The company added that it ensured its manufacturers strengthened their new hire screenings, and following “appropriate remediation, the contract manufacturers were permitted to resume business.”

Concerns about forced labor have increasingly surrounded Shein, prompting U.S. lawmakers to initiate an investigation into the fast fashion retailer.

They have also urged the Securities and Exchange Commission to delay any potential IPO for Shein until the company can confirm it does not engage in forced labor.

Reports of child labor were revealed through Shein’s Responsible Sourcing (SRS) audits, which are conducted with third-party verification agencies.

In response, Shein stated, “We remain vigilant in guarding against such violations going forward and will terminate any noncompliant suppliers.”

A spokesperson for Shein did not provide additional comments when contacted by Fashion Dive.

In addition to issues of forced and underage labor, there have been concerns about employee wages and working conditions.

Earlier this year, the environmental advocacy group Public Eye published a report indicating that Shein employees were working long hours for wages below the living wage.

In reaction, Shein announced it would invest “tens of millions of dollars” to enhance compliance across its supply chain.

In its latest sustainability report, Shein outlined its policy requiring suppliers to pay at least the legal minimum wage and provide overtime compensation.

During the SRS audits, the company claims that auditors review workers’ payslips and timesheets and conduct interviews to assess compliance with company policies.

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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois

Other Retail News Today

Retail News Today - Massive Retailer Shein Now Reports 2 Cases of Child Labor.
Retail News Today – Massive Retailer Shein Now Reports 2 Cases of Child Labor.

A book store with 120 locations now makes an unexpected closure, leaving customers with an opportunity to get 50% off items.

A competitor to Barnes & Noble is closing one of its well-known locations after 20 years in operation.

Customers will have only a few days to take advantage of liquidation sales offering discounts of up to 50%.

The Half Price Books store in Cedar Hill, Texas—located about 17 miles southwest of Dallas—confirmed the closure news in a conversation with local ABC affiliate WFAA.

Spokesperson Emily Bruce stated that declining customer traffic and financial difficulties are the main reasons for the store’s closure.

“While we wish we could stay, unfortunately, customer traffic has decreased over the years, making it no longer financially viable to keep the Cedar Hill store open,” she explained.

Shoppers can enjoy discounts until the store closes on September 29.

Half Price Books operates around 120 locations across 19 states, with at least 40 in Texas.

The Cedar Hill location is the second store to close in Texas recently, following the closure of another store in Mesquite earlier this year after 30 years of business.

Customers at that location reported incredible deals during liquidation, with one individual claiming to have purchased $273 worth of books for just $27.30.

Currently, two Half Price Books stores remain in Mansfield and Arlington for those still seeking affordable books.

Additionally, another location in Cincinnati, Ohio, shut down in July due to lease negotiations with the landlord.

Half Price Books still has about 12 locations operating in Ohio.

Other independent bookstores that compete with larger chains like Barnes & Noble have also been closing their doors this summer.

A Rediscovered Books store in Caldwell, Idaho, has closed its doors after experiencing financial difficulties for the past four years, according to The Idaho Statesman.

In a Facebook post in June, the store expressed its sadness about the closure, stating, “After four years, this location has not been able to stand on its own.

We’ve faced many challenges beyond our control and have done everything possible to make it work.”

The statement continued, “After careful consideration, we believe the only option is to close this Caldwell location.”

In addition, Barnes & Noble closed a key location in California earlier this spring and several others in 2024.

Meanwhile, Tattered Cover quietly filed for bankruptcy in 2023 and shut down at least three of its locations.

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You can also search for store closures in your state below.

Also Read: Retirees Will Now Receive More Money For Social Security

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Retail News Today - Massive Retailer Shein Now Reports 2 Cases of Child Labor.
Retail News Today – Massive Retailer Shein Now Reports 2 Cases of Child Labor.

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Stop & Shop Now Makes More Painful Closures

Stop & Shop now makes more painful closures as it shutters a total of 32 locations for good, as it attempts to stay in the retail game.

The company recently announced it will be closing a total of 32 underperforming stores by November.

Retailers have begun to lose confidence in the company’s capabilities as it starts to shutter its stores in New England, New York, and New Jersey.

After the new wave of store closures, Stop & Shop will operate a total of 359 stores, Boston reported.

“Stop & Shop is not where we want to be or need to be,” chief executive of Ahold Delhaize USA said on an earnings call held in May.

“The value proposition and pricing … are simply not strong enough,” he added.

Collectively, the news has sparked fears in shoppers that the grocer may be facing the end.

“This isn’t my first ride at the rodeo,” John Niccollai, the president of the United Food & Commercial Workers Union chapter that represents Stop & Shop workers in New Jersey said.

“I’ve seen many companies going into a death spiral, and this is the beginning of it.”

On the other hand, Stop & Shop president Gordon Reid believes a reinvention could save the business and the changes are underway.

Stop & Shop has plans to renovate most of its stores with the goal of modernizing, reports The US Sun.

More than 190 locations have already completed the upgrades.

Additionally, new locations have started to open.

One of the major new Stop & Shop developments includes an Acton store that should be finished late this year.

The company is also “investing in price,” as Reid has phrased it multiple times, by expanding digital coupons, 99-cent deals, and other promotions to help inflation-battered shoppers save money.

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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois

Other Economy News Today

Market News Today - Stop & Shop Now Makes More Painful Closures.
Market News Today – Stop & Shop Now Makes More Painful Closures.

A beloved grocery chain now confirms unexpected closures across the Northeast taking place by the end of the year.

Grocery chain Stop & Shop has announced that a total of 32 underperforming locations will shutter in the U.S.

The company said the select stores across the Northeast will be closed before the end of the year.

Stores in New Jersey, Massachusetts, New York, Connecticut, and Rhode Island will close by November 2.

In May, the company announced the coming store closures.

“Stop & Shop has evaluated its overall store portfolio and made the difficult decision to close underperforming stores to create a healthy base for the future growth of our brand,” company president Gordon Reid said, per a July 12 press release.

The company’s president added that the closures were essential “to create a healthy base for the future growth of our brand.”

Fortunately, employees will be offered other positions within the company, according to a press release.

The grocery outlet first opened in 2014 and currently has around 400 stores and 60,000 employees, per Fox affiliate KRLD.

Stop & Shop is owned by Ahold Delhaize which also owns Food Lion, Giant Food, and Hannaford.

Which grocery stores are closing?

In New Jersey, 10 locations will close, while only seven will close in New York.

Rhode Island will see two closures and Massachusetts, the home of the first location, will be closing eight.

Five stores will also be closing in Connecticut.

As other chains such as Walmart and Amazon join the grocery business, it has pushed traditional grocery stores out of view, reports The-Sun.

Stop & Shop hopes the closure of underperforming stores will create “future growth” for the company.

Also Read: Retirees Will Now Receive More Money For Social Security

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Market News Today - Stop & Shop Now Makes More Painful Closures.
Market News Today – Stop & Shop Now Makes More Painful Closures.

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