Big Lots reported declining revenues and increased debt. It expects to close dozens of stores during 2024.
The Des Moines Register’s Post
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Small and independent retailers don't have the same options as larger retail chains, Philip Stephenson outlines some of the unique challenges they face right now. #retail #independentretail #ukhighstreet #retailsector
Small retailers face unique challenges
grantthornton.co.uk
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Especially during these times of financial struggles, it's surprising to hear that discount retailers are closing down. A recent article shed light on the challenges faced by Family Dollar and 99 Cent Stores due to missed opportunities in meeting consumer needs. Now, these corporations are looking to right-size their business. As America's wallet remains strained, it's crucial for companies to prioritize understanding their consumers' needs. Make sure your company is thinking about the consumer first and foremost. Check out the article here: https://lnkd.in/e-5FPimr
Dollar stores are shutting down across America. They did this to themselves | CNN Business
cnn.com
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Interest rates are too high? Don't ask Retail Giants like Walmart or Aldi When you do $600 Billion in revenue, you don't have to rely on capital markets to finance expansion... Smaller retailers, however, are finding it difficult to seek growth due to (Relatively) high borrowing costs Many are on the sidelines game planning for the future or finding creative ways to finance expansion Nobody knows if/when rates will come down, so the question remains: How do the little guys keep up? https://lnkd.in/ebVxENDU
Major retailers sustain capital expenditures despite higher interest rates
retailbrew.com
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🛍️💼 EXPRESS to Shut Over 100 Stores Following Bankruptcy Filing 📉 Read the full article here-> https://lnkd.in/giV6CRW8 #Express Inc.'s recent Chapter 11 bankruptcy protection filing signals significant changes ahead. With plans to close 95 retail stores and all 12 UpWest locations, the company aims to pivot #strategically amidst challenging retail conditions. 📄 Details Of The #Bankruptcy Filing: Express filed for Chapter 11 protection on April 22, 2024, amidst substantial #financial challenges, reporting nearly $1.2 billion in debts against $1.3 billion in assets. 💼 Key Financial And Operational Moves: | New CFO Appointment: Mark Still takes the reins as the new Chief Financial Officer, signaling a leadership overhaul. | Store Closures: 95 primary retail stores and 10 UpWest stores will close to streamline operations and manage debt. | Closing Sales Begin: Sales to liquidate assets and manage debt commence on April 23, 2024. 📉 Impact Of #Market Trends On Express: Market shifts towards casual fashion and pandemic-induced trends have diminished Express's market share, leading to strategic restructuring under Chapter 11. 🛍️ Impact On Store Operations: | Strategic Closures: Closing stores across 30+ states and Washington D.C. aims to right-size physical presence. | Operational Continuity: Despite closures, operational activities continue in-store and online, with gift cards and store credits remaining redeemable. 🌐 Future Of Online Operations: | #eCommerce Focus: Express enhances its online platform to meet growing digital shopping trends. | Customer #Loyalty: Express Insider program benefits will remain intact to retain customer #trust. 🤝 Prospective Sale To WHP Global: A consortium led by #WHPGlobal, supported by mall giants Simon Property Group and Brookfield Properties, shows intent to acquire a substantial portion of Express's retail operations. 📈 Financial Support And New Financing: | Existing Lender Commitment: Secured commitment for $35 million in new financing from existing lenders. | CARES Act Funding: Received $49 million in cash from the Internal Revenue Service, boosting #liquidity. | #Strategic Financial Management: Mark Still's appointment as CFO aims to steer financial restructuring effectively. 💼📊 Operational And Financial Outlook: Express aims to maintain liquidity and operational continuity during the court-supervised sale process, with a target to save $200 million by 2025. Ready to navigate through changes with Express? Stay informed about the company's strategic moves and financial restructuring. #Express #BankruptcyFiling #RetailStrategy 📈
Express to Shut Over 100 Stores Following Bankruptcy Protection Filing
https://media.wearedivisa.com
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Industry Update: Conn's HomePlus Shuts Down Conn's HomePlus is closing all 170+ stores across 15 states following Chapter 11 bankruptcy, a significant shift in the home goods sector. This underscores the need for robust trade credit insurance and creative finance solutions to protect and grow your business amid economic uncertainties. Contact me to explore how these strategies can safeguard your operations and support your growth in challenging times. #RetailIndustry #TradeCreditInsurance #BusinessGrowth #FinanceSolutions #BankruptcyAwareness https://lnkd.in/eAaQXpdc
Conn's HomePlus now closing all stores: See the full list of locations
usatoday.com
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At a time when the dollar channel is doing well, it was odd to see 99 Cents Only Stores filing for bankruptcy. But, in a time of high inflation, labor costs, and shrink, their ridged business model of lowest price made it difficult to offer items consumers wanted or invest in their stores. At a time when all the variables in retail are changing, it's important to remain flexible and constantly adjust to meet consumer needs. #peergroups #retail #grocery
99 Cents Only files for Chapter 11
retaildive.com
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Capital continues to chase #retail warehousing, with projected returns of 8.8% p.a. over the next five years, outpacing all other commercial asset classes 🚀. Despite a 38% drop in H1 2024 transactions due to stock shortages, RWH #rents have risen for a sixth consecutive quarter, fuelled by a diverse #occupier mix 🍔 🛒🔨👕☕🎾. #Carpetright's recent demise is expected to drive further rental growth, with swift reabsorption of its units already underway. & with the first of (hopefully) several #interestrate cuts on the horizon, #investment markets may soon see a boost 📈. 📊 Read more in our latest #RetailWarehousing Dashboard now https://lnkd.in/eN9fyP9r Knight Frank Stephen Springham Dominic Walton Freddie MacColl Daniel Serfontein MRICS Josh Roberts Volkan Denli MRICS
Retail Warehousing Dashboard
knightfrank.com
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Metro Retail Stores Group, Inc. (MRSGI) reported a net income of P50.3 million, a 16% decrease from P60.0 million in the same period the previous year. #retail #manufacturing #bonds #stockmarket #stocks #realestate #finance #Business #Corporate #Corporation #Entrepreneur #Philippines #Invest #Investment #investingtips
Metro Retail Stores Group, Inc. Reports P50 Million in Net Income for Q12024
itechsolutionph.com
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Here are some interesting stories from the world of retail for Saturday, April 27: 🧶 JOANN Stores will exit bankruptcy in ‘coming days’ — with no store closings and less debt. Under the plan, Joann’s creditors agreed to cancel some $505 million of the company’s nearly $1.1 billion in long-term debt. 😕 Consumer sentiment deteriorated near the end of April, according to the latest reading from the University of Michigan. The final reading of the sentiment survey dropped to 77.2 from 77.9 in early April. 🛋️ Williams-Sonoma, Inc. has been charged with advertising multiple products as being ''Made in USA'' when they were in fact manufactured in other countries, including China. It will have to pay a $3.2 million fine. 👙 Outdoor retailer L.L.Bean and swimwear brand Summersalt have launched a limited-edition collection of swimwear and other outdoor essentials in time for the summer. 📈 The Personal Consumption Expenditures price index — a closely watched inflation gauge favored by the Federal Reserve — accelerated to 2.7% for the year ended in March. That rate was above economists’ expectations. 📦 Americans went all-in on self-storage. That demand is suddenly cooling. Many developers, spurred by the pandemic to invest money in new self-storage facilities, have been caught short by this drop in demand. 🍎 Apple is launching training sessions on its products for small business owners and entrepreneurs. Held in a selection of its retail stores, the sessions will be led by small business owners covering how they have used products. 🇨🇦 Canadian shoppers ditch traditional grocery stores for general merchandisers. Data suggests Canadian consumers have shifted their grocery shopping away from Canada's supermarket oligopoly. ☕️ Starbucks and Workers United said they made “significant progress” in this week’s contract talks. The two-day session marked the first time in nearly a year that Starbucks and Workers United came to the bargaining table. 💄 Buyout firm L Catterton has agreed to buy a majority stake in family-owned KIKO Milano in a deal valued at around EUR1.4bn, including debt. It is purchasing the stake from Italy's Percassi family. 👨🏽⚖️ The UK's GMB Union has filed legal proceedings against Amazon which it claims has engaged in widespread attempts to coerce its staff members to cancel their trade union memberships. 🍪 Crumbl Cookies is going miniature, offering signature cookies in a much smaller shape than fans are used to. But only on Mondays. The cookie company is trying to provide a sweet anecdote to the start of the week. 🍿 AMC Entertainment Inc. is expecting revenue in the first quarter to be roughly flat compared with a year ago, despite a weaker slate of film releases denting box office returns. 🇻🇪 Inditex has relaunched its business in Venezuela with the opening of a Zara store through a franchise agreement. In 2021, Inditex closed all its shops in the country. #retail #retailnews #economy #DailyRetailNews
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Myer (ASX:MYR) forecasts FY24 net profit drop due to store closures, inflation - MYER #Investment #Inflation #Strategic #Consumer #ASX
Myer (ASX:MYR) forecasts FY24 net profit drop due to store closures, inflation
grafa.com
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