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Retail
11/17/2023
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By Ethan Huff
Dallas, Los Angeles see largest increases in shoplifting as U.S. economy falters
Retail theft is up bigtime across the United States – but not necessarily in the places you might think. According to a new report from the nonpartisan Council on Criminal Justice (CCJ), Los Angeles and Dallas saw the largest increases in retail theft during the first half of both 2022 and 2023. Retail theft in […]
11/16/2023
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By Zoey Sky
Target CEO warns that shoppers are spending less because of budgetary concerns
Former Walmart CEO Bill Simon recently warned that American consumers are nearing a “breaking point.” Now, it’s Target CEO Brian Cornell’s turn to warn about the cutback in consumer spending. In an interview with CNBC‘s Becky Quick on “Squawk Box,” Cornell talked about Target’s challenges, including the cash crunch facing consumers amid high inflation. Cornell also shed […]
09/25/2023
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By Ethan Huff
Rite Aid to close up to 500 stores in BANKRUPTCY proposal
As much as 25 percent of pharmacy chain Rite Aid’s retail footprint could disappear in the coming days as one of the top 10 largest pharmacies in the United States negotiates with creditors over a chapter 11 bankruptcy plan that The Wall Street Journal says “would substantially shrink [Rite Aid’s] operational footprint.” If all goes […]
09/14/2023
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By Richard Brown
Another one bites the dust: Major car dealership files for bankruptcy, fires all employees
Carlos Lopez traveled from Tampa to Orlando to purchase a car only to be told that Florida-based dealership chain Off Lease Only has closed down and filed for bankruptcy. “The salesman that I was meeting with called me and told me, ‘Hey, I have bad news. The company just went out of business. We’re all […]
07/25/2023
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By Arsenio Toledo
Mexican drug cartels are behind surge in organized retail crime across the US
Mexican drug cartels are trying to expand their global criminal empires. According to reports, they are behind the recent surge in organized retail crime (ORC) in the United States. ORC is the large-scale theft of merchandise in retail outlets with the intent to resell the items for financial gain. Retail crime has become a very serious […]
07/10/2023
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By Arsenio Toledo
BANKRUPTCY BOOM: U.S. saw 70 major bankruptcies in just 4 months, the third worst start of year since 2000
The United States had at least 70 major bankruptcies in the first four months of the year. This major bankruptcy rate is the third worst start to the year since 2000, surpassed only in 2009 during the height of the Great Recession and in 2020 during the upheaval caused by economic lockdowns. In 2009, from […]
07/06/2023
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By Arsenio Toledo
Target to spend $5 billion on its stores to prevent them from shutting down
Big box retailer Target is spending $5 billion on its stores nationwide as part of a wider strategy to keep them profitable and prevent them from shutting down. The investment is a response to new and old issues faced by the company as well as other big box retailers, including the rise in online shopping, […]
06/15/2023
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By Ethan Huff
Westfield stops making mortgage payments on massive mall in San Francisco as city collapses into shambles
Citing skyrocketing crime incidents and tanking sales, Westfield has stopped making mortgage payments on a mall facility in downtown San Francisco, which is seeing an exodus of retailers and other businesses amid its ongoing collapse. Westfield reportedly defaulted on its $558 million loan, which it is handing back to the lender, which will appoint a […]
06/08/2023
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By Laura Harris
HANDS OFF: Walgreens unveils new anti-theft kiosk at redesigned Chicago store to combat organized retail crime
Walgreens has unveiled new anti-theft measures at its redesigned store in Chicago as a solution to rising retail crime, but customers are complaining of being unable to shop for themselves. Company executives made significant changes to their stores to prevent thefts which have been on the rise in retail outlets, with big box stores like […]
06/07/2023
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By Cassie B.
Macy’s and other major retailers say slower sales indicate major problems for American economy
Major retailers are sounding alarm bells over the current state of the economy in light of shifting customer demand at their stores as they struggle to find new ways to remain profitable. Big chains like the department store Macy’s and warehouse club Costco report that shoppers are changing their purchases and spending less money on […]
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