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The San Francisco-based retailer, which was for decades a fixture at shopping malls around the country, said Thursday it will be closing 220 of its namesake Gap stores – or one-third of its store base – by early 2024. That will result in 80% of its remaining Gap stores being in off-mall locations.
Retail sales rose strongly in September, the fifth consecutive month of growth, as Americans spent more on clothing, cars and sporting goods.
For small retailers across the country, the coronavirus outbreak has turned an already challenging business environment into never-ending uncertainty.
The company that says it's put 40 U.S. presidents in its suits survived two world wars and navigated through casual Fridays and a loosening of dress standards even on Wall Street, but the coronavirus pandemic pushed the 200-year-old company into seek Chapter 11 protection Wednesday.
NEW YORK – Levi's said Tuesday that it will cut 700 office jobs, or about 15% of its worldwide corporate workforce, as it deals with a sharp drop in sales due to the coronavirus pandemic.
About 1.5 million laid-off workers applied for U.S. unemployment benefits last week, a historically high number, even as the economy increasingly reopens and employers bring some people back to work.
There was an era in Spokane when women dressed fashionably to shop downtown. Suits, dresses, hats and smartly tailored coats, often trimmed in fur, were important accessories.
The retail trends that are keeping U.S. shoppers away from malls are also putting a damper on deal-making. The number of mergers involving apparel, shoes and jewelry dropped 12 percent to 115 in the past year. And the transactions that are getting done are fetching the smallest premiums since the recession in 2008. They plunged to 3.4 percent from 23 percent a year earlier, according to data compiled by Bloomberg.
A Spokane company that supplies sports equipment and team apparel across the Northwest has been sold to a Texas company and will close its three retail stores.
American Apparel, once a high-flying retailer that peaked at more than $600 million in sales, is probably headed toward liquidation after a bankruptcy auction ended with Canadian T-shirt and underwear maker Gildan Activewear buying intellectual property and other assets for $88 million.
American Apparel set the date for the bankruptcy auction of its manufacturing, retail and wholesale business, likely delaying layoffs slated to affect as many as 3,457 employees in Southern California.
American Apparel is seeking bankruptcy protection for the second time in just over a year, unable to find its footing in a shifting retail landscape and after a contentious fight for control with company founder Dov Charney.
American Apparel is preparing for its second bankruptcy filing in as many years, according to people familiar with the situation, capping a tumultuous stretch that included tumbling sales, red ink and a split with controversial founder Dov Charney.
In mid-August of last year, warning signs at the Seattle headquarters of Nordstrom Inc. first became apparent. Up to that point, the upscale apparel retailer, with $14 billion in annual sales, had enjoyed several years of steady sales growth and expansion. Its stock had climbed to a record high of about $80 a share.
Interest in the plus-size category of the apparel business is growing particularly among teens and younger women, and retailers and brands are responding.
The teenager killed early Tuesday at a North Monroe tattoo shop was shot during a robbery attempt, witnesses told police. Ceasar Medina, 17, suffered gunshot wounds to his neck and chest, according to the Spokane County Medical Examiner’s Office. He died before he could be taken to the hospital. Police are still looking for the killer, described by police as a 5-foot-9 black man with curly hair and a thin build.
There is no Cascade Curtain when it comes to Seahawks pride. As Seattle’s National Football League team gears up for its second Super Bowl appearance in as many years, Eastern Washington and North Idaho are, to borrow a team slogan, all in again.