Department Store

Private equity firm Sycamore Partners is in early talks to take J.C. Penney out of bankruptcy if the retailer’s negotiations with its creditors fail, reported Reuters.

Approximately 60% of retailers reported that they could not pay April rent, with many asking for three months of rent abatement—and several claimed they could not pay rent until stores reopened.

J.C. Penney Co. has identified the first wave of its store closures.

Digital transformation is accelerating in retail environments. 

Target Corp. had pledged $10 million to social justice organizations and also to community rebuilding/recovery efforts in the wake of the death of George Floyd in the company’s hometown of Minneapolis.  

Caleres Inc., whose brands include Famous Footwear, Sam Edelman, Allen Edmonds and more, posted a wider than expected first-quarter loss.

G-III Apparel Group Ltd. is restructuring its retail operations segment and reducing its store portfolio to focus on its wholesale business.  

Gap Inc. swung to a $932 million net loss in its first quarter as its stores remained dark for much of the period.