Mass Merchant

Sports Authority is taking steps towards filing for Chapter 11 bankruptcy protection, according to Bloomberg.

The retailer has a debt payment due in 10 days and in talk with its lenders about a reorganization plan under which it would close as many as 200 of its more than 450 stores, the report said.

Sports Authority reportedly skipped a $20 million in interest payment in January on a $343 million loan. It has 10 days to make the payment.

Retailers may find themselves banished to the Island of the Misfit Toys if they do not improve their handling of returned holiday purchases.

According to new data from Kurt Salmon, it took an average of 13.3 days for retailers to credit returns to accounts during the 2015 holiday season. This marked an improvement from the prior year’s 16.8 days, but still far from customers’ expectation of about seven days.

Amazon.com has been typically tight-lipped about the performance of its Handmade at Amazon online arts and crafts marketplace since its October 2015 launch. However, Amazon has shared some exclusive early results with TheStreet. Find out if Etsy needs to be worried. [TheStreet]

Sports Authority is taking steps towards filing for Chapter 11 bankruptcy protection, according to Bloomberg.

The retailer has a debt payment due in 10 days and in talk with its lenders about a reorganization plan under which it would close as many as 200 of its more than 450 stores, the report said.
 
Sports Authority reportedly skipped a $20 million in interest payment in January on a $343 million loan. It has 10 days to make the payment.

It’s been quite common of late to hear retailers cite warm weather and intense competition as sources of sales weakness, but the prize for originality goes to PriceSmart after the warehouse club operator reported a January same-store sales decline.

Longtime Amazon executive Steve Kessel, whose team launched the first Kindle e-reader, is leading a retail store initiative at Amazon, ReCode.net reported. The report references two sources familiar with the plans, and states: “It’s not yet clear what those stores will sell or how they will be formatted, but the retail team’s mission is to reimagine what shopping in a physical store would be like if you merged the best of physical retail with the best of Amazon.

It makes no sense for Amazon.com to open the type of physical bookstores it helped obliterate, not when the online giant already has the physical infrastructure in place to support a large scale rollout of another type of store in one of retail’s hottest sectors.

It makes no sense for Amazon.com to open the type of physical bookstores it helped obliterate, not when the online giant already has the physical infrastructure in place to support a large scale rollout of another type of store in one of retail’s hottest sectors.