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Owner of Mandee and Annie Sez files Chapter 11, citing impact of Superstore Sandy
New York -- Big M Inc., which operates Mandee and Annie Sez stores, has filed for Chapter 11 bankruptcy protection. The New Jersey-based retailer cited the impact of Superstorm Sandy, which resulted in closures that affected its stores, corporate office and distribution center for more than a week. The company cited liabilities of between $50 million and $100 million, along with assets of the same amount.
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GameStop results shed new holiday insights
GRAPEVINE, Texas — Lower in-store traffic at GameStop during the holiday resulted in a decline in same-store sales during the first nine weeks of the company’s fourth quarter.
Total global sales for the nine-week period ended December 29 decreased 4.6%, compared to com 2011 holiday sales period. Comparable store sales decreased 4.4%, with U.S. comps of -3.5% and international comps of -6.4%.