Strategy

New York -- Ritz Camera & Image has filed for Chapter 11 bankruptcy protection. As part of its restructuring, the company, which has 265 stores in 34 states, plans to close 128 locations and cut its staff of 2,000 in half.

This is the second time Ritz has sought protection under the bankruptcy laws, having emerged from Chapter 11 two years ago.

New Orleans — Despite reporting an uptick in organized retail crime, the National Retail Federation revealed that retail theft rates decreased in 2011, according to preliminary results of the organization's latest National Retail Security survey.

Minneapolis -- Best Buy announced Tuesday it is expanding the Best Buy Mobile brand and store-within-a-store concept into 14 Five Star stores throughout Nanjing, China, this summer.

The expansion of Best Buy Mobile into the Chinese market is the first evolution of Global Connect, a partnership that was formed in November 2011 between Best Buy and Carphone Warehouse.

MOORESVILLE, N.C. — Lowe’s has donated $250,000 to the First Response Team of America, a nonprofit organization dedicated to responding to natural disasters and working alongside local agencies to help save lives in the wake of destruction.

ARLINGTON, Va. — Consumers are feeling more positive about the overall economy and are growing more likely to make technology purchase, according to the latest CEA Index from the Consumer Electronics Association.

By Nancy Chisholm, [email protected]

By Jeff Weidauer, [email protected]

Showrooming is the latest in what appears to be a never-ending series of paradigm shifts for retailers. This is the relatively new activity where shoppers visit a brick-and-mortar store, look at a product, and buy it online. Best Buy is possibly the hardest-hit; it’s been slapped with the unfortunate moniker “Amazon Showroom,” which describes just how widespread this phenomenon has become.

EL SEGUNDO, Calif. — Mattel has renamed its design center at its Southern California headquarters the Handler Team Center in honor of founders Ruth and Elliot Handler.