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- BNET Author Biography
- An intern for BNET, Danielle Novy has written for the Burleson-Crowley Connection, covering topics such as city government and local features. She is a graduate of Texas Tech University.
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- Retail Roundup: Surviving Retailers To See $19.2 Billion Boost, Bon-Ton Cutting 1,150 Jobs, More
- Surviving retailers to see $19.2 billion boost -- Retailers that can keep their heads above water long enough to survive the recession are set to gain market share as their competitors fall, creating $20 billion in sales opportunities for businesses left standing. "The retail shake-out will provide big opportunities for...
- Blog posts 2009-01-30
- Retail Roundup: Tweeter Abruptly Closes, Nordstrom Pays $60,000 Penalty, More
- Tweeter abruptly closes, leaving employees in the cold -- Electronics chain Tweeter, which first filed for Chapter 11 bankruptcy protection in July 2007, converted its case into a Chapter 7 liquidation Dec. 2, swiftly shutting its doors and axing more than 600 employees at 70 stores across the country days...
- Blog posts 2008-12-03
- Retail Roundup: eBay, Costco Call For New Laws, Hackers Hit Tweeter, More
- eBay, Costco, others expected to wage "price war" as they call for new laws -- Some of the nation's largest discounters, including Costco Wholesale Corp. and eBay Inc., are expected to call for new laws blocking manufacturers from setting minimum prices on merchandise. Firms such as MAPtrackers Inc., Cyveillance Inc.,...
- Blog posts 2008-12-04
- Retail Roundup: Mattel, Others Pay $1.8 Million to Settle Suit, Boscov's Completes Sale, More
- Toy companies pay $1.8 million to settle suit -- Nine toy companies, including Mattel Inc., are paying a total of $1.8 million to settle a lawsuit over Chinese-made toys containing lead. The companies admitted no wrongdoing as part of the settlement reached. The lawsuit, which was filed a year ago...
- Blog posts 2008-12-05
- Retail Roundup: Kingsbury Crowned CEO of Burlington, Sales Since Cyber Monday Up 9 Percent, More
- Kingsbury crowned CEO of Burlington --- Burlington Coat Factory Warehouse Corp. has a new CEO, plucked straight from the racks of Kohl's. Thomas A. Kingsbury served as CEO of May Department Stores' Filene's division before joining Kohl's to oversee e-commerce, marketing, and business development. Now at Burlington, Kingsbury replaces outgoing...
- Blog posts 2008-12-08
- Retail Roundup: Casual Male's Poison Pill, New Execs Shake Up Sears, More
- Casual Male puts poison pill in place --- Casual Male Retail Group announced on Dec. 9 that its board of directors has adopted a rights plan, also known as a "poison pill." Poison pill is a term applied to a strategy companies use to thwart hostile takeovers, according to a...
- Blog posts 2008-12-09
- Retail Roundup: Wal-Mart Settles Suit for $54 Million, Kohl's Plans Deal With MUDD, More
- Wal-Mart paying $54 million to settle wages suit --- Wal-Mart Stores Inc. agreed to pay $54.3 million to settle a lawsuit over wages after a Minnesota judge determined that the company broke state laws by requiring employees to work off-the-clock. The plaintiffs represent about 100,000 current and former employees of...
- Blog posts 2008-12-10
- Retail Roundup: Office Depot to Close 112 Stores, Wholesale Sales Decline, More
- Office Depot to shutter 112 stores --- Office Depot Inc. plans to close 112 under-performing North American locations, slashing 2,200 jobs in the process, according to a Dec. 10 filing. Shares rose 9.1 percent after the world's second-largest office-supplies retailer made the decision to shut down nearly 10 percent of...
- Blog posts 2008-12-11
- Retail Roundup: KB Toys Files For Bankruptcy, Toys 'R' Us Struggles, More
- KB Toys files for bankruptcy protection -- Although the holiday season is usually the busiest time of the year for toy stores, KB Toys Inc., one of the nation's largest toy retailers, filed for Chapter 11 bankruptcy protection Dec. 12. The chain, comprised of 460 locations, plans to close all...
- Blog posts 2008-12-12
- Retail Roundup: Borders Not For Sale, Blockbuster Tests New Format, More
- Borders not for sale --- After roughly half a year on the selling block, Borders Group is no longer for sale, executives announced. "We are no longer contemplating a transaction," CEO George Jones said in reference to the bookstore chain's May decision to review strategic options, including the sale of...
- Blog posts 2008-12-02
- Retail Roundup: Macy's CEO Says Debt Can Be Paid Down, (Very) Black Friday for Online Retailers
- Macy's CEO says debt can be paid down -- Macy's Inc. doesn't plan to close many locations, CEO Terry Lundgren said in a Nov. 28 interview with Bloomberg Television, adding that the second-biggest U.S. department-store chain can pay down debt with cash. "We plan no giant wholesale closings," he said....
- Blog posts 2008-12-01
- Retail Roundup: Thrift Stores See Sales Rise, Donations Drop, and More
- Thrift stores see sales increase, donations decline -- Although retail sales dropped 2.8 percent in October, not all retailers were feeling the sting. In fact, stores that sell second-hand goods actually have received a boost since the downturn began. "Nationwide, Goodwill has seen an increase of between 6 and 11...
- Blog posts 2008-11-17
- Retail Roundup: Steve & Barry's Set to Close, Sears on Thin Ice, More
- Steve & Barry's to say goodbye --- Steve & Barry's is preparing to announce this week that it will close its doors forever, according to a WSJ article that cited two people familiar with the chain's troubles. In October, BNET reported that S&B announced plans to close 103 of its...
- Blog posts 2008-11-18
- Retail Roundup: Billionaire Snaps Up Circuit City Shares, Retailers' New Widgets, More
- Mexican billionaire sees 'great value' in Circuit City -- Although Circuit City Stores Inc. recently filed for bankruptcy protection, one of the world's richest men believes the company may still have a future. Ricardo Salinas Pliego, who owns a 28 percent stake in the company, is "banking on a great...
- Blog posts 2008-11-19
- Retail Roundup: 360 Wal-Marts to be Powered by Wind, Online Retailers Fight, More
- 360 Texas Wal-Marts to be powered by wind -- Wal-Mart recently inked a four-year contract with Duke Energy, which will power hundreds of the chain's Texas stores using wind energy. DE is expected to provide up to 226 million kilowatt-hours of power annually to about 360 stores, resulting in the...
- Blog posts 2008-11-20
- Retail Roundup: Wal-Mart Names New CEO, Sale of Boscov's Approved, More
- New Wal-Mart CEO named -- Wal-Mart, the world's largest retailer, will soon be under new leadership: Company officials announced on the morning of Nov. 21 that Mike Duke will replace H. Lee Scott Jr. as CEO of the massive chain, effective Feb. 1. Duke, 58, currently serves as the head...
- Blog posts 2008-11-21
- Retail Roundup: Mervyns Buyout Firms Profit While Employees Lose Jobs, Wal-Mart to Sell iPhone, More
- Mervyns buyout firms profit while employees lose jobs -- Cerberus Capital Management and other private equity investors in Mervyns raked in $250 million from the company's liquidation, yet 18,000 employees facing layoffs are still waiting to see if the retailer will raise enough to secure their accrued vacation pay. Find...
- Blog posts 2008-11-24
- Retail Roundup: Lenox Files for Bankruptcy Protection, 7-Eleven and J.C. Penney Team-up, More
- Lenox files for bankruptcy protection --- Lenox Group Inc. joined the growing number of businesses falling victim to the sour economy recently: The Minnesota-based company, famed for its Lenox tableware and Department 56 collectibles, filed for Chapter 11 bankruptcy protection earlier this week. The company seeks court approval for $85...
- Blog posts 2008-11-25
- Will Twitter and M-Commerce Save Christmas?
- Retailers preparing for a grim holiday season can't discount the role technology will play in where shoppers choose to spend -- and not spend -- their cash. Twitter, for example, promises to ease bargain hunting for harried customers accustomed to dashing from store to store in search...
- Blog posts 2008-11-25
- Retail Roundup: Kohl's, Forever 21 Take Over Mervyn's Locations, Double-Digit Declines Across Retail Sectors, More
- Kohl's, Forever 21 snap up soon-to-be-vacated Mervyns stores --- Mervyns bankruptcy spells expansion for Kohl's Corp. and Forever 21 Inc., an unlikely pair of apparel retailers who won a joint bid to take over 46 former Mervyns locations for $6.25 million. Kohl's, which opened dozens of new stores in 2008,...
- Blog posts 2008-12-15
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