Neiman Marcus missed bond payment, hedge fund says

The luxury department store chain's failure to pay its interest this week could set the stage for a bankruptcy — potentially a contentious one.

By Ben Unglesbee • April 17, 2020

Stein Mart's private equity takeover gets nixed

The retailer cited uncertainty from the COVID-19 pandemic for the mutual decision to terminate its deal with Kingswood Capital Management.

By Ben Unglesbee • April 17, 2020

Walmart reserves pickup hour for at-risk shoppers

The retailer is offering an early morning pickup option to assist customers who are more vulnerable to COVID-19. 

By Jessica Dumont • April 17, 2020

Toy Association launches virtual toy fair series

The events leverage tech to connect the toy industry during the COVID-19 outbreak. 

By Tatiana Walk-Morris • April 16, 2020

Shoptalk to host virtual events

The company is providing new ways for the retail community to connect through a series of tabletalks, conferences and meetings.

By Tatiana Walk-Morris • April 16, 2020

Bed Bath & Beyond sells off One Kings Lane

It's the second banner the retailer has moved to unload this year, though the deal to sell PersonalizationMall.com has yet to close as planned.

By Caroline Jansen • April 16, 2020

J.C. Penney misses another debt payment as potential bankruptcy looms

The retailer missed a $17 million interest payment on its credit facility as Reuters reports Penney could close 200 stores in Chapter 11.

By Ben Unglesbee • Updated May 11, 2020

Best Buy to furlough 51K workers, including 'nearly all' part-timers

Despite robust e-commerce and lingering demand for products that help people work from home, freeze food or play games, sales are down 30%.

By Daphne Howland • April 15, 2020

Under Armour, Nike bring on new execs

Under Armour appointed an outsider with transformation experience as its new chief product officer, while Nike named a new head of North America.

By Cara Salpini • April 15, 2020

What retail could look like when stores reopen

Retailers have closed their doors to help stop the spread of the coronavirus. But things might not revert back once they open again, according to experts.

By Caroline Jansen • April 15, 2020

Neiman Marcus downgraded as COVID-19 closures sharpen need for restructuring

A massive debtload has created even more pressure on the luxury department store chain as it closes its doors amid the pandemic. 

By Ben Unglesbee • April 15, 2020

True Religion seeks shelter from pandemic (and rent) in Ch. 11

The denim seller filed for the second time since 2017 after temporarily closing all its stores and seeing most of its revenue wiped out. 

By Ben Unglesbee • April 14, 2020

COVID-19 wreaks havoc on inventories

Just when retailers had pared down thanks to a busy holiday season, merchandise is piling up again.

By Daphne Howland • April 14, 2020

Reuters: J.C. Penney considers possible bankruptcy

The retailer has enough cash to survive for now, but the combination of COVID-19 closures and debt have scrambled its turnaround efforts.

By Ben Unglesbee • Updated April 15, 2020

Macy's 'exploring numerous options' to shore up finances

Without sales from its hundreds of stores, the retailer is scrambling to pull various financial levers as e-commerce fails to make up the difference.

By Daphne Howland • April 13, 2020

New Walmart e-commerce exec leaves to take the helm at eBay

Jamie Iannone took the position at the retail giant only last month, after revamping the digital business at its Sam's Club warehouse unit.

By Daphne Howland • April 13, 2020

Department stores are most at risk of default, S&P says

The sector leads consumer industries with a 42.1% probability of defaulting on their debt, which spiked in late March as the COVID-19 pandemic took hold.

By Ben Unglesbee • April 13, 2020

COVID-19 will both complicate and accelerate retail bankruptcies

Some retail Chapter 11s are on pause, with store liquidations effectively impossible. But a "wave" of bankruptcies is coming, experts say. 

By Ben Unglesbee • April 13, 2020

Authorities order grocery workers and customers to cover their faces

Los Angeles, New Jersey and Miami are requiring those working and shopping inside stores to wear masks or cloth coverings, per CDC guidelines.

By Sam Silverstein • April 13, 2020

Nordstrom: Prolonged store closures could lead to financial distress

The department store may not be as bad off as some rivals, but it has its own vulnerabilities to the economic fallout from the COVID-19 pandemic.

By Daphne Howland • April 9, 2020

Ulta furloughs store and salon associates as store closures extend

The beauty retailer said it has "every intention of bringing its workforce back when it is safe to do so," and CEO Mary Dillon will forgo her salary indefinitely.

By Cara Salpini • April 9, 2020

Retail sales could remain down by double digits through 2021, Fitch says

Analysts expect many retailers to weather the pandemic crisis, but "notable exceptions" include J.C. Penney, J. Crew, Lands' End, Ascena and Party City.

By Ben Unglesbee • April 9, 2020

Away sales plummet 90% as COVID-19 curtails travel

The luggage startup's co-founders say the pandemic has forced furloughs and layoffs and gutted what had been healthy profit margins.

By Daphne Howland • April 8, 2020

TJX furloughs most of its 286K workforce

Off-price has managed to escape many of retail's biggest challenges, but not the consequences of the COVID-19 outbreak.

By Daphne Howland • April 8, 2020

Imports reach 5-year low as COVID-19 hits demand and supply

Inbound containers fell more than 21% in March, per NRF estimates, as the pandemic disrupted manufacturing in China and closed stores in the U.S.

By Ben Unglesbee • April 8, 2020