Proposed cuts in food stamp benefits could cost the the retail industry billions — with supermarkets and discounters taking the biggest hit.
AlixPartners estimates that retail collectively stands to lose $70.7 billion during the next 10 years if the proposed cuts in the Supplemental Nutrition Assistance Program (commonly referred to as food stamps) turn into reality, CNBC reported. The budget proposed by the Trump administration calls for $191 billion in cuts to the program between 2018 to 2028.
Best Buy is looking to grab share in one of the hottest categories of the "smart" home market: voice-activated devices.
The retailer is adding Amazon Alexa and Google Home "experiences" to about 700 Best Buy stores nationwide. The new interactive displays will start arriving in stores in July, with the rollout complete by the end of the year. In addition, there will be an enhanced online presence for the devices on Best Buy's e-commerce site.
The nation's largest office supply retailer is returning to private ownership.
Private equity firm Sycamore Partners has acquired Staples for $10.25 per share for cash. The deal is valued at about $6.9 billion.
Its Macy’s and J.C. Penney’s continue to do business. In-line stores close, but new tenants quickly assume their spaces. Shoppers continue to arrive from as far as 75 miles away.
The Empire Mall in Sioux Falls isn’t exactly bucking trends. It’s merely an example of a core precept of retail which states that malls will survive where jobs and rooftops are rising, according to a report in the local Argus Leader.
Kohl's has ended its search for a new finance chief.
The retailer has appointed Bruce H. Besanko to the position of CFO, effective July 10. He will replace Wesley McDonald, who announced plans in November to retire this spring after 14 years with the company.
While Amazon’s purchase of Whole Foods Market signifies a staggering boost in its physical store breadth, the deal is much more valuable than that.
This is according to “LandMark Insights,” a report from PlaceIQ. The study analyzed more than 165 million anonymous and opted-in mobile device signals nationwide to determine visitation patterns and audience affinities, among other metrics. These transactions were compiled over a 90-day period.
Target Corp. has entered the fast-growing next-day grocery delivery market.
The discounter on Tuesday launched a pilot for Target Restock, a next-day delivery service for household essentials and dry grocery items ordered online, in its hometown market of Minneapolis-St. Paul. The service, available only to Target REDcard holders, comes with a flat fee of $4.99 per box.
