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  • What to Watch in the Markets this week

    Key updates from Janet Yellen, Nike, and the BEA.

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  • We Went to Sears For The First Time In More Than 10 Years and Instantly Saw Why It's Dying
    Business
    The Street17 hours ago

    We Went to Sears For The First Time In More Than 10 Years and Instantly Saw Why It's Dying

    I haven't been inside a Sears store for more than 10 years, until Thursday, June 22. And, wow, did I learn a lot. Mainly, I came away with a better understanding of why Sears Holdings Corp. (SHLD) is closing an additional 20 stores on top of the 245 it already planned to shutter. And why it has failed to turn a profit in 29 out of the last 37 quarters and seen same-store sales decline in 11 of the past 12 quarters.  I observed alienating treatment of a loyal customer at the store in Jersey City, N.J., which was also messy and uninviting inside.   When I came upon customer Stephanie Rosso, a resident of Jersey City, she was struggling with four employees to get a simple return transaction completed

  • 24 Large Retailers Besides J.C. Penney Are Closing Waves of Stores
    Business
    The Street17 hours ago

    24 Large Retailers Besides J.C. Penney Are Closing Waves of Stores

    The Great Restructuring in retail continues.  In the wake of a disappointing holiday season, J.C. Penney (JCP) said recently that it will close 138 stores stores by the end of the summer. The store closures represent 13% to 14% of the company's current store base and less than 5% of annual sales. They have a negligible impact on net income. J.C. Penney said same-store sales at the locations were "significantly below" the remaining store base and operate at a much higher expense rate due to poor productivity. The company expects $200 million in annual costs savings from the efforts. "We believe closing stores will also allow us to adjust our business to effectively compete against the growing

  • Could Walmart Buy Costco to Take on Amazon? Well ...
    Business
    The Street2 days ago

    Could Walmart Buy Costco to Take on Amazon? Well ...

    I heard a rumor out there that Walmart (WMT) might consider acquiring Costco (COST) to offset the Amazon (AMZN) buyout of Whole Foods (WFM) . Just a rumor. However, even if this turned out to be true, these would not be the same type of deals. First, Costco is near all-time highs, where savvy buyers, of which Walmart is among the savviest, don't buy. Savvy buyers like to buy assets, and everything else, near lows, and sell them near highs. Amazon didn't agree to buy Whole Foods at its all-time high, near $60, in 2013. They waited until no one appreciated the asset, and after a 50% crash, they made their offer. No, Amazon isn't getting Whole Foods at that extreme discount, but they will get it