Macy’s former CEO expects more store closures ahead in 2021
December 22, 2020
More than 11,000 retail stores have closed in 2020 and former Macy’s CEO Terry Lundgren expects to see larger numbers of locations to do the same in the new year. “We’re not done yet. … We’re going to learn even more when we get through the holiday season,” he said. “Retailers who have a weak balance sheet today aren’t going to get relief in January. It’s going to get tougher. When the volume of purchases drops dramatically after Christmas, the expenses remain.”
Recent News
loanDepot and MLB Bring Back Ballpark Bingo
loanDepot, the Official Mortgage Provider of Major League Baseball (MLB), is reviving its beloved “Ballpark Bingo: A Celebration of Firsts” campaign for the 2024 season, aiming to further captivate fans in America’s favorite pastime through an interactive sweepstakes.
Amazon Secures Bally Sports RSN Streaming
In a bid to bounce back from bankruptcy, Diamond Sports, parent company of Bally Sports RSNs, struck a deal in January that ropes in Amazon as a minority investor.
7-Eleven Unveils Hot Dog-Flavored Drink
7-Eleven has revealed an array of new 7-Select sparkling waters sporting bold and innovative flavors. Partnering with Miracle Seltzer, 7-Eleven is introducing Lemon Lime, Green Apple, Sweet Orange, and the surprising addition of Hot Dog flavor.
Waffle House Workers Strike for Fair Pay and Better Working Conditions
Waffle House workers in Conyers, Georgia, are now on their third day of striking over what they call the company’s unfair policies. Led by the Union of Southern Service Workers (USSW), Waffle House employees are demanding an end to the mandatory “meal credit” deductions from their paychecks, along with better wages and improved working conditions.