The iconic American retailer Sears is closing 80 more stores, including the Mall of America location in Bloomington, as it teeters on the brink of liquidation. However, the 130-year-old Minnesota-born retailer, once the nation’s largest department store chain, got a last-minute bid for its remaining stores Friday to avert closing down completely. Sears is one of the four original anchor stores in the Mall of America. The three-floor store, which opened with the mall in 1992, is the last full-scale Sears in Minnesota. The retailer announced in October that it would be closing its store on St. Paul’s Rice Street in the early weeks of 2019. Once the Mall of America store closes in the coming months, the only Minnesota locations that will remain are the smaller Sears Hometown stores. The retailer that began as a mail-order catalog in the 1880s has been in a slow death spiral, hobbled by the Great Recession and then overwhelmed by rivals both down the street and across the … [Read more...] about Sears to close Mall of America store as it faces possible liquidation
Macys closing down
By Holly Shively, Staff Writer Time is running out to take advantage of Toys “R” Us going out of business sales.A Beavercreek store at 2500 N. Fairfield Road will be open until Friday, but the Miamisburg location at 2859 Centerville Road will close Wednesday, store associates said. All Toys “R” Us and Babies “R” Us stores will be closed by Friday, according to the company. »RELATED: Staying in a hotel? Amazon’s Alexa may order room service for you Toys ‘R’ Us, Inc. voluntarily filed for relief under Chapter 11, in September 2017. Toys R Us was $5 billion in debt, as of April 29 of that year.About 30 shoppers were at the Beavercreek location Monday at 1:30 p.m., where sales are now up to 80 percent off. Half the store was empty and blocked off. Some shelves in the store were vacant, while others were sprinkled with items or half full. But no shelves were entirely stocked.The retailer, which started liquidation in … [Read more...] about Time running out at Toys “R” Us, local stores to close this week
By Holly Shively, Staff Writer The amout consumers will spend on Fourth of July will drop slightly this year because the holiday falls on a Wednesday.Americans are expected to spend $6.9 billion for Fourth of July cookouts and picnics, down from $7.1 billion last year, according to the National Retail Federation.More than 216 million Americans plan to observe Independence Day, down slightly from last year’s 219 million. Nearly 62 percent are planning a cookout or picnic, spending an average of $75.35 per person on food items, a new record topping last year’s $73.42. » BIZ BEAT: New discount clothing retailer may be coming to Dayton Mall “With the holiday falling in the middle of the week, a few less Americans will be free to celebrate and that affects spending totals,” NRF President and CEO Matthew Shay said. “But those who are celebrating by attending or hosting a cookout or picnic, are actually spending more, and retailers will be ready … [Read more...] about Travel, spending expected to be down around Fourth of July
Updated 7:31 am, Monday, June 18, 2018 America hasn't stopped shopping, but it does shop differently than it used to. As online retail has gotten more popular, it's taking a bite out of sales at brick-and-mortar stores. Many traditional retailers have risen to the challenge with their own online presence, but what happens all those old mall locations? Usually, companies respond by shutting down stores or shrinking their square footage. And while this can be good for stores — focusing their cash on online operations or more successful retail locations — it's not always good for shoppers. Losing a big department store doesn't just mean one less local shopping option; a store closure can lead to a retail chain reaction. A large anchor store leaving a mall means there's less foot traffic for other stores, potentially leading to more closures... and eventually an empty mall. This year Kmart, Macy's, and Sears are all shuttering dozens of locations nationwide. While … [Read more...] about Is Your Local Macy’s, Sears, or Kmart Closing?
By Nancy Luna | [email protected] | Orange County Register PUBLISHED: September 22, 2017 at 12:02 pm | UPDATED: September 22, 2017 at 5:12 pm Five Lagunas can’t catch a break. A year after the Lake Forest-based developer Merlone Geier Partners bought the Laguna Hills mall for $110 million, longtime anchor Sears closed, vacancy rates skyrocketed to 32 percent and a leading analyst firm gave the center a B-minus rating. To right the ship, Merlone Geier broke ground in 2016 on a massive $260 million makeover for the mall, rebranding it Five Lagunas. The fix-it plan called for a pedestrian-friendly urban village with chef-driven dining, new store facades, a redesigned mall interior, a 14-screen luxury cinema, a fitness center, apartments and a park. Luxury apartments, a movie theater, park and indoor and outdoor shops are all part of a plan unanimously approved Tuesday to revitalize the tired Laguna Hills Mall, creating Five Lagunas.Construction workers work on the … [Read more...] about Renovation stopped at Five Lagunas in Laguna Hills as Macy’s set to close