Another retailer moving away from bricks and mortar.
Lingerie retailer Frederick's of Hollywood is closing all 111 of its brick-and-mortar stores. The company will continue to offer their products exclusively online.
A statement on their website reads, "We no longer have store locations. Our online store offers the same selection of products."
Read more Nicki Minaj Shows Off (Possible) Engagement Ring on Instagram
The 68-year-old business, which was the leading lingerie retailer until being eclipsed by Victoria's Secret in the 1980s, was founded during the '50s pin-up era by Frederick Mellinger. Also known for housing The Lingerie Museum and Celebrity Lingerie Hall of Fame, famously looted during the 1992 L.A. riots, Frederick's of Hollywood will continue to offer bedroom accessories and sex toys in addition to lingerie.
In the face of its fierce competition, the company filed for bankruptcy in 2000 and re-emerged in 2003. Frederick's then went public in 2006 before being taken private by Harbinger Group and other investors in 2013.
Tell me about it. An old college buddy of mine moved to Houston three years ago to do geology work for the oil industry. Got laid off last year. Just found something in Oklahoma. Hope it lasts.
Blames plumbing problems.
BRANDON, Fla. - Employees of a Walmart in Brandon that abruptly closed Monday were among more than 2,000 employees nationwide who learned almost simultaneously they were being laid off.
In a nearly identical manner at every store, Walmart corporate officials visited the five locations, called an impromptu meeting in the back of the store and told employees that the stores would be closing that evening.
Besides Brandon, the affected locations were in Pico Rivera, Calif., Livingston, Texas, Midland, Texas, Tulsa, Okla.
“The issues mostly relate to clogs and water leaks in the plumbing - we’ve had persistent issues over the last several years,“ said a Walmart spokesperson said.
“These incidents impact the availability of water and create drainage issues for critical areas of the store which impacts our ability to serve customers,” she said.
“Normally, we do our best to avoid disrupting a store’s operations. However, given this particular store had one of the highest incidences of plumbing issues in the entire fleet and in order to reduce the costs associated with these incidents, we felt it was in the store’s best interest to invest in making the necessary improvements to resolve these issues,” the spokesperson said.
The I-Team has learned that none of the five affected stores have sought any plumbing permits for future repairs.
Moments ago the Department of Commerce reported March starts and permits data, which after the February collapse was expected by everyone to rebound strongly because, well, it didn't snow as much in March as it did in February. Apparently it did, because not only did Housing Starts miss massively, and just as bad as in February, printing at 926K, on expectations of a 1.040MM rebound from last month's revised 908K, but permits also missed and in fact declined from last month's 1102K to 1039K.
Worse, while single family starts continue to drag along a level that is largely unchanged since the end of 2012, multi-family starts tumbled to the lowest since September 2013 at 287K, suggesting the rental boom is truly finished.
That's already happening. Our Carrabba's has special marked parking areas for "curbside pickup".
Get the food to go and no tip required. Probably no drinks either. Guest check plummets and you guessed it....less need for trained wait staff.
No doom and gloom from old sage, but the New York Fed Chief on the other hand.....
NEW YORK (Reuters) - The municipal bankruptcies in Detroit and Stockton, California, may foretell more widespread problems in the United States than is implied by current bond ratings, a top Federal Reserve official said on Monday.
"While these particular bankruptcy filings have captured a considerable amount of attention, and rightly so, they may foreshadow more widespread problems than what might be implied by current bond ratings," New York Fed President William Dudley said at a workshop on Chapter 9 bankruptcies.
"We need to focus our attention today on addressing the underlying issues before any problems grow to the point where bankruptcy becomes the only viable option," he added, according to a text of his speech.
A sure sign of a healthy and vibrant economy!
MARYVILLE (WATE) – Ruby Tuesday will close 30 restaurants over the next few months, though they won’t say which ones.
The announcement comes with the company’s report that it sustained more than 34 million dollars in losses in the last quarter.
What's that?....something like 2,000-3,000 people losing their jobs?
I don't, nor did I ever say, that I was running a trust. Those are your words.
I am listed as a joint tenant, along with three others, each controls 25%.
FTR yield = 5.7% & 2-yr return of 76%
VZ yield = 4.5% & 2-yr return of -(3)%
Where are you getting your numbers CD?....or are we just supposed to trust whatever you say?
D.A. Davidson just issued upgrade, so we'll call it a wash.
Short interest decreasing again. Good news.
And yes, I have been busy with a new E-commerce venture, so less time to post.
Let the good times roll.
Walgreens Boots Alliance Inc. plans to close 200 Walgreens drugstores in the U.S., part of a further $500 million in cost cuts planned by the company that was formed by a trans-Atlantic merger at the end of last year.
Wonder what it will be after the next correction?
After all, the market is in the 6th longest bull run in it's history.
Yup...and there are 92 million people out of the workforce. Sitting on the sidelines because they are so discouraged with the job market. We know many who have multiple part time jobs, just trying to make it.
The lowest labor participation rate since 1978.
Champagne corks heard popping.
Wouldn't be surprised if FTR rebranded under another name.
With this VZ purchase FTR is doubling in size, so a name change might be in the works.