Retail

After more than 50 years in business, JC's 5 Star Outlet/J.C. Penney Outlet will be closing all 15 outlet stores in 14 states. 

"Going Out of Business" or "Total Inventory Blowout" sales will start Wednesday in each outlet store, offering consumers $70 million worth of name brand and private label products at significant discounts from the already low outlet prices of 25-75% off comparative retail.

Pittsburgh – Internet coupon provider MyCoupons.com is launching a responsive design website. The new website presents a cleaner, contemporary, responsive design that adapts itself to all digital platforms: web, tablet, and mobile.

The new infrastructure also improves the user experience with better and faster search capabilities for the thousands of coupons and promotional codes available on the site from more than 9,000 online merchants.

New York – At least four law firms have launched investigations of Lumber Liquidators Holdings, Inc. following a raid by federal agencies on Lumber Liquidators’ Virginia offices in connection with the importation of certain wood-flooring products. The law firms of Pomerantz Grossman Hufford Dahlstrom & Gross LLP, Bronstein, Gewirtz & Grossman, LLC, The Shuman Law Firm, and Wohl & Fruchter LLP are all investigating whether Lumber Liquidators has committed federal securities violations.

Walmart opened a dedicated online fulfillment center in Fort Worth this week and said its largest facility ever will open next spring in Bethlehem, Pa.

Meijer plans to address the need many consumers have for more information about the health insurance exchanges that are part of the Patient Protection and Affordable Care Act.

Lewisville, Texas – Consumers prefer prepaid cards that can be used anywhere to gift cards from specific retailers and physical cards to digital cards.

According to the new “People Prefer Prepaid Rewards” study from Parago, more than half of shoppers prefer prepaid cards over gift cards from Amazon, iTunes, Target, Walmart, Home Depot and more. In addition, two out of three shoppers prefer physical cards over digital cards.

New York -- Masayoshi Son, billionaire founder of tech/telecom company SoftBank Corp., has reportedly won bidding for the Tiffany Building in the Ginza shopping district of Tokyo. According to Forbes, Son paid about $36 million for the 10-story glass building.

The Tiffany Building houses the flagship Japanese store of Tiffany & Co. Son did not comment on why he bought the building.

New York -- Chain Store Age will celebrate its 50th annual SPECS show with a very special opening keynote: A Conversation with President George W. Bush.

The 43rd president of the United States will give the keynote at SPECS, the industry’s premier store development and facilities event, on Monday, March 10, 2014, at the Gaylord Texan Hotel, Grapevine, Texas. The full conference will run March 9 – 12, 2014.

For more information and to register for SPECS, click here.