Apple software hints at September 10 announcement for the next iPhone

A girl reacts as she tries an iPhone X at the Apple Omotesando store on November 3, 2017 in Tokyo, Japan. The date for Apple’s newest iPhone announcement may be hidden in its latest beta release of its new operating system. Apple released its newest iOS 13 beta to developers on Thursday with what some believe is a clue to its iPhone announcement date. Apple’s iPhone business has struggled with trends such as weakness in the Chinese economy and the fact that customers keep their devices longer th


A girl reacts as she tries an iPhone X at the Apple Omotesando store on November 3, 2017 in Tokyo, Japan. The date for Apple’s newest iPhone announcement may be hidden in its latest beta release of its new operating system. Apple released its newest iOS 13 beta to developers on Thursday with what some believe is a clue to its iPhone announcement date. Apple’s iPhone business has struggled with trends such as weakness in the Chinese economy and the fact that customers keep their devices longer th
Apple software hints at September 10 announcement for the next iPhone Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: lauren feiner
Keywords: news, cnbc, companies, apple, screen, revenues, software, tariffs, date, hints, iphones, apples, announcement, iphone, set, store


Apple software hints at September 10 announcement for the next iPhone

A girl reacts as she tries an iPhone X at the Apple Omotesando store on November 3, 2017 in Tokyo, Japan.

The date for Apple’s newest iPhone announcement may be hidden in its latest beta release of its new operating system.

Apple released its newest iOS 13 beta to developers on Thursday with what some believe is a clue to its iPhone announcement date. The operating system contained an asset called “HoldForRelease” that showed a home screen of an iPhone with the calendar date set to September 10, 9to5Mac reported. Apple has held its fall press event around this time in September for the past four years, the site previously noted.

Analysts don’t expect the so-called iPhone 11 to be a huge change from previous models. Barclays semiconductor analysts wrote in May that they anticipate Apple’s 2019 iPhones will offer “relatively few design changes” while the more substantial update, including features like 5G capability, will come in 2020.

J.P. Morgan Chase analysts agreed that major updates would come in 2020 in a July note.

“Our expectations include all three Sep-2020 iPhones (5.4″/6.1″/6.7″ screen sizes) will adopt OLED displays and 5G baseband modems (with support for mmWave frequencies), and at least two of the three models adopting world facing 3D Sensing (Time of Flight) driving industry leading AR/VR capabilities which can be leveraged by custom built applications (including games),” analyst Samik Chatterjee wrote.

Apple’s iPhone business has struggled with trends such as weakness in the Chinese economy and the fact that customers keep their devices longer than they used to before upgrading. For Apple’s third fiscal quarter, iPhone revenues made up 48% of total revenue. It was the first time the segment made up less than half of all revenues since 2012.

Still, Apple has found new areas of growth such as wearables, like the Apple Watch and HomePods, and digital services, like App Store sales, Apple Music subscriptions and iCloud storage.

The Trump administration also alleviated any worries that the iPhone would be subject to new Chinese tariffs that were originally set to go into effect on Sept. 1. The office of the U.S. Trade Representative said this week that the tariffs would be pushed back to December, sending Apple shares up 4% on Tuesday.

An Apple spokesperson was not immediately available to comment.

Subscribe to CNBC on YouTube.

WATCH: A rare look inside the factory that makes iPhone’s Gorilla Glass


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: lauren feiner
Keywords: news, cnbc, companies, apple, screen, revenues, software, tariffs, date, hints, iphones, apples, announcement, iphone, set, store


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Apple took us on a surreal walk through San Francisco, looking at digital art on an iPhone

But the art wasn’t actually physically on the ground — instead, it was digital art, mere 1s and 0s, attached to several significant locations around the city, and viewed through the camera and display of an Apple iPhone. The hope among technologists is that augmented reality can be the next big computing platform, and companies like Facebook, Google, and Microsoft are also investing heavily in augmented reality technologies. “Augmented reality will prove to be as huge an invention as electricity


But the art wasn’t actually physically on the ground — instead, it was digital art, mere 1s and 0s, attached to several significant locations around the city, and viewed through the camera and display of an Apple iPhone. The hope among technologists is that augmented reality can be the next big computing platform, and companies like Facebook, Google, and Microsoft are also investing heavily in augmented reality technologies. “Augmented reality will prove to be as huge an invention as electricity
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Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: kif leswing
Keywords: news, cnbc, companies, digital, art, reality, augmented, piece, took, phone, apple, francisco, surreal, walk, store, san, iphone, looking


Apple took us on a surreal walk through San Francisco, looking at digital art on an iPhone

Kif Leswing/CNBC

San Francisco looks different through an iPhone XS Max — it’s still a city, but now there are floating balls of fabric, speech bubbles, and words popping out from the trees and buildings. For more than two hours on Sunday, I ambled through the streets of San Francisco, taking in several art pieces scattered around the city by Apple. But the art wasn’t actually physically on the ground — instead, it was digital art, mere 1s and 0s, attached to several significant locations around the city, and viewed through the camera and display of an Apple iPhone. The walk, which launched on Saturday, is a new program at Apple stores called “AR[T],” which is a play on words on augmented reality, a technology that uses cameras and machine learning to place digital objects in the real world. Apple has developed software for iPhones called ARKit. Apple CEO Tim Cook has called the technology “big and profound.” The hope among technologists is that augmented reality can be the next big computing platform, and companies like Facebook, Google, and Microsoft are also investing heavily in augmented reality technologies. “I think in AR’s early days when it’s still trying to find its footing, user traction and killer apps, these types of organized initiatives by tech giants can slowly push the ball forward,” Mike Boland, chief analyst of ARtillery Intelligence said. “Apple is particular has invested a lot in AR and is banking certain parts of its future hardware lineup on AR, so these ARt walks are both a move to accelerate AR traction and to continue feeling out the demand signals and what will resonate with consumers.” “I have been working in augmented reality for the past 3 years and I am convinced it will be the medium in which we will experience most of the arts in the future,” said artist Sebastian Errazuriz, who was not involved in the project with Apple, but who has made similar public art in augmented reality. “Augmented reality will prove to be as huge an invention as electricity. We will all live augmented reality lives,” he continued.

The walk

Kif Leswing/CNBC

The AR[T] walk I attended started from Apple’s flagship store in Union Square in San Francisco. It’s available at six Apple stores in major cities, including New York, Hong Kong, and Paris. Over about two hours, we walked from the store to an alley, across Market Street to Yerba Buena Gardens, and to a historic church and back. I was lucky to be able to make a reservation on Apple’s website — most sessions through the end of the month are already full. Of the six sessions scheduled at the store for next weekend, all are booked as of Monday. However, when I arrived, there was plenty of space. There were only five of us when we departed the store, including a store employee who came along for the walk on his free time. We were led by two Apple employees with a separate store manager checking in during the walk to troubleshoot our path. If there are open slots in a walk, Apple stores will accommodate people who are there, an Apple representative said, so even if you can’t get a reservation, it still may be worth seeing if there are open spaces. The walk is guided by an Apple store employee and everyone gets to borrow an iPhone XS Max and pair of Beats Solo headphones for the trip. You can’t use your personal iPhone. Each one of the the Apple-loaned iPhones has a non-public AR[T] app installed that enables you to access the experiences. There’s a bit of a ritual to see the art. The tour guide turned each experience on and off from an iPad Pro, and also led discussions about what we saw. We’d walk to a location, like Maiden Lane, a cute little alley in downtown San Francisco. Then, we were told to find and point our phones at a “marker” like a sign, which allows the phone to place digital objects and creatures in the real world by giving the phone a point to orient the graphics around. Once you scan the marker — feeling a little haptic pulse when it’s locked in — then you get a few minutes to walk around and experience the art. At the end of each art piece, the guide asked us to all put our loaner phones together, then the guide would press buttons on his iPad, and all the phones would shut off, turn to black, and we’d be asked to put it in our pockets so we could walk to the next location.

The art

John Giorno’s “Now at the Dawn of My Life” Kif Leswing/CNBC

The draw for the ART walks is six pieces of art selected by the New Museum, a modern art museum based in New York. The art is often interactive and sometimes challenging, although at times you’re reminded that augmented reality is a nascent medium that artists and other creators are still learning how to use. Seven artists, including Nick Cave, John Giorno and Pipilotti Rist, made six pieces for the walk. The first piece we saw was by Cave, and it included creating and customizing a floating ball of digital cloth that walks with you down the alley. At the end, you point your phone towards the sky, and through its screen you can see a giant man with a bowl for his head standing on top of a building. Bowl Man sucks up all the cloth balls, and he changes color. Another piece, by Cao Fei, places a little factory on the ground with a series of conveyor belts moving boxes into the distance. That piece was designed to be interactive — we could pinch or stretch individual boxes, or press a switch that reversed the flow of the boxes.

Kif Leswing/CNBC In “This Is It,” a short fairy tale is presented through a portal accessed by putting your phone up to a tree.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: kif leswing
Keywords: news, cnbc, companies, digital, art, reality, augmented, piece, took, phone, apple, francisco, surreal, walk, store, san, iphone, looking


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Man in body armor and armed with rifle sparks panic at Walmart in Missouri

An armed man who walked into a Walmart store in Missouri dressed in body armor and fatigues and was detained at gunpoint by an off-duty firefighter is “lucky he’s alive still” considering the situation he created, a police official said. The man who is said to be white and in his 20s was detained by the armed firefighter until police arrived at the Walmart Neighborhood Market, police said in a statement. The man in body armor had been seen pushing a shopping cart and recording video of himself o


An armed man who walked into a Walmart store in Missouri dressed in body armor and fatigues and was detained at gunpoint by an off-duty firefighter is “lucky he’s alive still” considering the situation he created, a police official said. The man who is said to be white and in his 20s was detained by the armed firefighter until police arrived at the Walmart Neighborhood Market, police said in a statement. The man in body armor had been seen pushing a shopping cart and recording video of himself o
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Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: phil helsel, suzanne ciechalski
Keywords: news, cnbc, companies, panic, sparks, walmart, armor, missouri, armed, man, springfield, lucas, walked, body, told, store, rifle


Man in body armor and armed with rifle sparks panic at Walmart in Missouri

An armed man who walked into a Walmart store in Missouri dressed in body armor and fatigues and was detained at gunpoint by an off-duty firefighter is “lucky he’s alive still” considering the situation he created, a police official said.

No shots were fired in the incident that happened just after 4 p.m. Thursday in Springfield, a city of around 160,000 in the southwestern part of the state, officials said.

The man who is said to be white and in his 20s was detained by the armed firefighter until police arrived at the Walmart Neighborhood Market, police said in a statement.

The man in body armor had been seen pushing a shopping cart and recording video of himself on a cellphone, police told NBC affiliate KYTV.

Police were called about a possible active shooter, and the store manager pulled a fire alarm and told people to evacuate, Springfield police Lt. Mike Lucas said.

“He walked in here, heavily armed with body armor on, in military fatigues, and caused a great amount of panic inside the store,” Lucas said about the incident that came days after mass shootings at an El Paso Walmart and a Dayton, Ohio entertainment district that left more than 30 people dead. “… Obviously, what’s happened in Texas and Dayton and all that kind of stuff in the last seven days — that’s on everybody’s minds.”


Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: phil helsel, suzanne ciechalski
Keywords: news, cnbc, companies, panic, sparks, walmart, armor, missouri, armed, man, springfield, lucas, walked, body, told, store, rifle


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Coming soon to a store near you: more expensive items

Thousands of household products could get more expensive, thanks to the newest round of tariffs the U.S. plans to slap on goods from China next month. “This is a really, really tragic situation for consumers who are living paycheck to paycheck,” said Jack Gillis, a spokesman for the Consumer Federation of America. “These are things that are going to have a real, everyday impact for American consumers,” said David French, senior vice president of government relations at the National Retail Federa


Thousands of household products could get more expensive, thanks to the newest round of tariffs the U.S. plans to slap on goods from China next month. “This is a really, really tragic situation for consumers who are living paycheck to paycheck,” said Jack Gillis, a spokesman for the Consumer Federation of America. “These are things that are going to have a real, everyday impact for American consumers,” said David French, senior vice president of government relations at the National Retail Federa
Coming soon to a store near you: more expensive items Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: annie nova
Keywords: news, cnbc, companies, really, consumers, vice, typical, tragic, near, soon, paycheck, coming, tariffs, president, trade, expensive, items, store, spokesman


Coming soon to a store near you: more expensive items

Darby S | Twenty20

Cribs. Toothbrushes. Milk. Thousands of household products could get more expensive, thanks to the newest round of tariffs the U.S. plans to slap on goods from China next month. “This is a really, really tragic situation for consumers who are living paycheck to paycheck,” said Jack Gillis, a spokesman for the Consumer Federation of America. “The administration is negotiating trade deals using our hard-earned dollars,” he said. While previous rounds of the trade war between the world’s largest economies targeted production materials, including steel and aluminium, this time it’s shoes, headphones, pacifiers, bed linens, binders, backpacks, pine nuts and other common items in the crossfire. “These are things that are going to have a real, everyday impact for American consumers,” said David French, senior vice president of government relations at the National Retail Federation.

More than 70% of shoes sold in the U.S. come from China, according to the Footwear Distributors & Retailers of America, an industry organization with more than 500 members, including Walmart, Nike, Crocs and Steven Madden. Matt Priest, president and CEO of the organization, said the price of a typical hunting boot is expected to increase to $222 from $190; a performance running shoe could cost $187 instead of $150. “All very noticeable increases at checkout,” he said. In a letter to the government, Lui Simpson, vice president for global policy at The Association of American Publishers, said tariffs would make price increases on books “inevitable.”

This is a really, really tragic situation for consumers who are living paycheck to paycheck. Jack Gillis spokesman for the Consumer Federation of America

“[T]ariffs would be immediately devastating for the industry,” Simpson wrote. The previous rounds of tariffs have already squeezed people’s budgets. The levies on imports in 2018 cost the typical U.S. household $419, according to a study by the National Bureau of Economic Research. “Further extensions of the tariffs, as recently announced, will further increase these numbers,” said Stephen Redding, a professor at Princeton University and an author of the report.


Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: annie nova
Keywords: news, cnbc, companies, really, consumers, vice, typical, tragic, near, soon, paycheck, coming, tariffs, president, trade, expensive, items, store, spokesman


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J.C. Penney faces NYSE delisting

J.C. Penney is at risk of delisting from the New York Stock Exchange after shares of the department store chain traded under $1 for a period of 30 consecutive business days, the company said Thursday. J.C. Penney said it will notify the exchange in the next 10 business days of the plan. Shares of the department store chain have plunged more than 70% over the past year, and it reported a first-quarter financial loss of $154 million. J.C. Penney is also burdened with roughly $4 billion in debt, wi


J.C. Penney is at risk of delisting from the New York Stock Exchange after shares of the department store chain traded under $1 for a period of 30 consecutive business days, the company said Thursday. J.C. Penney said it will notify the exchange in the next 10 business days of the plan. Shares of the department store chain have plunged more than 70% over the past year, and it reported a first-quarter financial loss of $154 million. J.C. Penney is also burdened with roughly $4 billion in debt, wi
J.C. Penney faces NYSE delisting Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: jasmine wu
Keywords: news, cnbc, companies, exchange, nyse, store, york, stock, department, penney, chain, company, days, faces, jc, delisting


J.C. Penney faces NYSE delisting

J.C. Penney is at risk of delisting from the New York Stock Exchange after shares of the department store chain traded under $1 for a period of 30 consecutive business days, the company said Thursday.

The company said it received notice on Tuesday and has six months to regain compliance with the requirement. It said it will consider a reverse stock split at its next shareholder’s meeting, to prop its share price above $1 if that doesn’t happen on its own before then. J.C. Penney said it will notify the exchange in the next 10 business days of the plan.

Shares of the department store chain have plunged more than 70% over the past year, and it reported a first-quarter financial loss of $154 million. The company is now valued at around $220 million.

J.C. Penney is also burdened with roughly $4 billion in debt, with $1.5 billion currently available under a revolving credit line, according to SEC filings. The company told CNBC that it has not hired advisors to prepare for restructuring or bankruptcy, after a Reuters report that said otherwise.

Department stores across the board are struggling to make up for declining sales and foot traffic in malls. On Tuesday, luxury department store Barneys New York filed for bankruptcy, and has until Oct. 24 to find a buyer to avoid liquidation.


Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: jasmine wu
Keywords: news, cnbc, companies, exchange, nyse, store, york, stock, department, penney, chain, company, days, faces, jc, delisting


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4 shopping tips that can help you save money on thrift store fashions

Here are some tips from Wider and James to help you save money on clothes you’re excited about. Take stock of your wardrobeJames says that saving money when you’re shopping begins with taking stock of what you already own. Consider reselling your unwanted items online and using your earnings for new threads. And your smartphone can help you find secondhand stores and pop-up thrift sales. While most major retailers only keep in-season merchandise on the racks, thrift and secondhand stores tend to


Here are some tips from Wider and James to help you save money on clothes you’re excited about. Take stock of your wardrobeJames says that saving money when you’re shopping begins with taking stock of what you already own. Consider reselling your unwanted items online and using your earnings for new threads. And your smartphone can help you find secondhand stores and pop-up thrift sales. While most major retailers only keep in-season merchandise on the racks, thrift and secondhand stores tend to
4 shopping tips that can help you save money on thrift store fashions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: ivana pino, sofia pitt, myelle lansat
Keywords: news, cnbc, companies, help, fashions, clothing, online, items, thrift, money, wider, james, youre, store, shopping, secondhand, save, stores, tips


4 shopping tips that can help you save money on thrift store fashions

With fall right around the corner, you may feel inclined to revamp your wardrobe. While buying secondhand clothing isn’t a new way to cut costs, being savvy about it can help you save even more when hunting for gently used threads — both online and at traditional brick-and-mortar stores. “It takes a lot of time and discernment, but…the thrift store is a great place to start if you’re on a budget,” says Morgan Wider, an Atlanta-based personal style expert. And your savings from thrifting can add up fast: A $200 outfit purchased retail could run you just $20 at a thrift store, says Latrice James, a Charlotte-based thrifter and lifestyle blogger. Here are some tips from Wider and James to help you save money on clothes you’re excited about.

1. Take stock of your wardrobe

James says that saving money when you’re shopping begins with taking stock of what you already own. Sorting through your clothing will give you a clearer idea of what you should put on your wish list, she says, so that you avoid wasting money buying items you already have a version of in your closet. Going through your wardrobe could boost your clothing budget, too. Consider reselling your unwanted items online and using your earnings for new threads. “Do you need essential items, [like] a basic white button-down for work or a simple black dress, casual clothing, work clothes, workout apparel?” she asks. Once you’ve assessed what your needs are, you can start scoping out bargains in person and online.

2. Use social and apps to find sales

Start by tapping into your social network or Facebook groups for valuable secondhand finds, suggests Wider: “Think of it as an online party or an online swap where you can sell to your friends. Trading groups on Facebook are filled with great, low-priced items as well. ” To save time and maximize your resale potential, consider using the same sites to both sell your discarded clothing and buy new items. Wider and James both recommend checking out Facebook Marketplace, Poshmark, and Depop for gently used pieces. Thredup, a digital consignment shop, also lets you browse for gently used items. And if you want to take your wardrobe up a notch, seek out luxury secondhand items on sites like Therealreal.com, where you can save up to 90% on brand name clothes.

A good tailor can make anything look expensive on you, because it will fit impeccably. Morgan Wider Personal Style Expert

Before adding anything to your cart, though, Wider and James agree that you should do a little research on the seller and the brand of clothing you’re purchasing: “Returns are usually not available for online resale markets, so the more that you can know about the brand or that seller, then that’s a safer bet,” says Wider. James also recommends following stores’ social accounts on Instagram and Twitter so that you’ll be the first to know of any special promotions. And your smartphone can help you find secondhand stores and pop-up thrift sales. Location-based applications like Thrift Buddy tap into local charity stores, garage sales, or resale shops in your area.

3. Assess overall value

“Really be strategic about what you need,” says Wider. “Does an item fit into your life immediately, or will you be holding onto this for that special date or that special occasion or that new job? Be aware of the value of it.” To determine the value of the items you find, James turns to the internet. “Google is my best friend,” she says. “I always search for the brand online and look into the actual item to compare the price of the item at the thrift store, versus what it’s going for online to help me determine if I’m getting a good deal.” Wider also suggests factoring in extra costs like alterations or dry cleaning, which may be necessary depending on the condition or size of the garment. And make sure to examine each item carefully for any stains or tears. Some you might be able to fix or get repaired, but others you won’t.

4. Purchase out of season

Plan ahead and try to shop for clothing at the end of the season to get the best discounts. Whereas a high-quality winter coat can cost upwards of $200 at the start of winter, waiting until the weather warms up to snag that coat could save you 30% or 40%, says James. Since retailers tend to donate or sell their unsold inventory after a season has passed, consider thrifting for winter clothes in early spring. While most major retailers only keep in-season merchandise on the racks, thrift and secondhand stores tend to carry clothing all year long. “Say you’re looking for a bathing suit and retailers typically put out their suits in February,” says James. “By August, they’ll be discounted and you’ll likely see a whole slew of new bathing suits at the thrift store around that time.” More from Grow: How much you’d have now if you invested $500 in the stock market 10 years ago

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Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: ivana pino, sofia pitt, myelle lansat
Keywords: news, cnbc, companies, help, fashions, clothing, online, items, thrift, money, wider, james, youre, store, shopping, secondhand, save, stores, tips


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Barneys has until Oct. 24 to find a buyer and avoid liquidation

A pedestrian walks past a window display at Barneys New York department store in New York, U.S., on Thursday, Jan. 22, 2009. After a surprise financing offer that developed in bankruptcy court Tuesday, Barneys New York now has more money and more time. The famed luxury retailer has until Oct. 24 to find a buyer and avoid liquidation. Barneys New York filed for bankruptcy early Tuesday morning, with a plan to significantly reduce its footprint. B. Riley Financial owns liquidation firm Great Ameri


A pedestrian walks past a window display at Barneys New York department store in New York, U.S., on Thursday, Jan. 22, 2009. After a surprise financing offer that developed in bankruptcy court Tuesday, Barneys New York now has more money and more time. The famed luxury retailer has until Oct. 24 to find a buyer and avoid liquidation. Barneys New York filed for bankruptcy early Tuesday morning, with a plan to significantly reduce its footprint. B. Riley Financial owns liquidation firm Great Ameri
Barneys has until Oct. 24 to find a buyer and avoid liquidation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: lauren hirsch
Keywords: news, cnbc, companies, financing, capital, barneys, avoid, buyer, 24, store, financial, york, bankruptcy, liquidation, oct, retailer, riley


Barneys has until Oct. 24 to find a buyer and avoid liquidation

A pedestrian walks past a window display at Barneys New York department store in New York, U.S., on Thursday, Jan. 22, 2009.

After a surprise financing offer that developed in bankruptcy court Tuesday, Barneys New York now has more money and more time. The famed luxury retailer has until Oct. 24 to find a buyer and avoid liquidation.

Barneys New York filed for bankruptcy early Tuesday morning, with a plan to significantly reduce its footprint. The retailer had filed with $75 million in debtor-in-possession financing provided by Gordon Brothers and Hilco Global. But a new offer from Brigade Capital Management and B. Riley Financial will pay out that $75 million, while also injecting a further $143 million for Barneys to run its business while it looks for a buyer.

“We have new financing that literally developed in the last 30 minutes,” testified Kirkland & Ellis’ Josh Sussberg, legal counsel for Barneys, “for a company that only days ago stared down the barrel of a gun.”

In a statement provided to CNBC, Barneys CEO Daniella Vitale said, “This significantly enhanced financing commitment demonstrates the belief of Brigade Capital and B. Riley Financial in the value of the Barneys New York brand and business…The competition to provide Barneys New York with fresh capital … reinforces our confidence in achieving a value enhancing transaction.”

The luxury retailer tried to sell itself before filing for bankruptcy, and received interest from a number of potential buyers, including online luxury retailer Farfetch, people familiar with the situation tell CNBC. Farfetch previously bought London boutique Browns, which gave it a bricks-and-mortar presence. Last September, it listed its shares on the New York Stock Exchange as it looks to expand in the U.S.

Whether the same buyers will present themselves following Barneys filing is yet to be determined.

Barneys is doing its best to make itself an attractive candidate. As part of its bankruptcy plan, it will continue running five of its more than 10 namesake stores: on New York’s Madison Avenue; in downtown Manhattan; Beverly Hills, California; San Francisco and Copley Place in Boston, as well as two Barneys Warehouse stores.

Over the past several years, Barneys had arguably over-expanded by moving into cities like Seattle, where its avant-garde style did not translate as well. As Barneys begins to close stores, it will move inventory to its remaining locations and its online store.

The locations it is keeping open are the ones in which it rings up the most sales. Nearly half its sales come from its Madison Avenue store. Its website and its store in Beverly Hills store follow, as its second and third strongest businesses, a person familiar said, requesting anonymity because the information is confidential.

The company’s brand, in some circles, has remained powerful. For online retailers, like Farfetch, it offers brick-and-mortar shopping as more retailers seek to give customers the best of both worlds.

“Brigade Capital Management and B. Riley Financial provided this loan because we think there will be significant interest for Barneys’ core business,” said Perry Mandarino, senior managing director, restructuring head and co-head of investment banking with B. Riley FBR.

Still, that bet is protected, should Barneys follow the same path met by Toys R Us, Payless ShoeSource and other retailers that liquidated following a bankruptcy filing.

B. Riley Financial owns liquidation firm Great American, which would likely handle any sales at Barneys if liquidation is necessary. In that case, it would look to earn back its investment by selling the high-end inventory that sits in Barneys stores as well as, possibly, its intellectual property.

“We view the asset valuation expertise of Great American Group as a mitigant to our risk,” said Mandarino.


Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: lauren hirsch
Keywords: news, cnbc, companies, financing, capital, barneys, avoid, buyer, 24, store, financial, york, bankruptcy, liquidation, oct, retailer, riley


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Barneys New York to file for bankruptcy as soon as Monday as it nears loan deal

A pedestrian walks past a window display at Barneys New York department store in New York, U.S., on Thursday, Jan. 22, 2009. Barneys New York is preparing to file for bankruptcy as soon as Monday evening, according to people familiar with the matter. A deal would give Barneys 60 days to try to find a buyer in bankruptcy court, one of the people said. The retailer has 13 department stores and nine warehouse stores. A bankruptcy filing from Barneys this week would mark its second.


A pedestrian walks past a window display at Barneys New York department store in New York, U.S., on Thursday, Jan. 22, 2009. Barneys New York is preparing to file for bankruptcy as soon as Monday evening, according to people familiar with the matter. A deal would give Barneys 60 days to try to find a buyer in bankruptcy court, one of the people said. The retailer has 13 department stores and nine warehouse stores. A bankruptcy filing from Barneys this week would mark its second.
Barneys New York to file for bankruptcy as soon as Monday as it nears loan deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: lauren hirsch lauren thomas, lauren hirsch, lauren thomas
Keywords: news, cnbc, companies, stores, deal, store, bankruptcy, loan, online, nears, york, soon, file, filing, department, barneys, reported


Barneys New York to file for bankruptcy as soon as Monday as it nears loan deal

A pedestrian walks past a window display at Barneys New York department store in New York, U.S., on Thursday, Jan. 22, 2009.

Barneys New York is preparing to file for bankruptcy as soon as Monday evening, according to people familiar with the matter.

The embattled luxury department store chain is nearing an agreement with lenders that would secure it enough financing to give it time to find a buyer, the people said, asking to remain anonymous because the discussions are private.

Barneys is close to a deal with Gordon Brothers and Hilco Global, firms that specialize in selling assets for distressed companies, they said. A deal would give Barneys 60 days to try to find a buyer in bankruptcy court, one of the people said. If Barneys can’t reach a deal, it will likely have to liquidate.

Barneys is also looking to immediately close most of its locations. It is seeking to find buyers for seven, if not fewer, core locations across the country, one of the people said. Its main focus is keeping its Madison Avenue in New York and Beverly Hills, California, stores opened and stocked.

The retailer has 13 department stores and nine warehouse stores.

“The Barneys New York Board and management continue to work constructively and collaboratively with a number of parties and are committed to reaching a mutually agreeable resolution to strengthen our business,” a Barneys spokesperson said in an emailed statement.

CNBC had reported at the end of July that Barneys was starting to raise financing for a bankruptcy filing, which continues to be delayed. It’s been looking for a path to avoid bankruptcy, to help cope with a liquidity crunch spurred by a rent hike at its Manhattan flagship.

Barneys is one of many department stores — including Nordstrom, Hudson’s Bay, J.C. Penney and Macy’s — that are struggling as shoppers buy apparel online or directly from brands. Luxury retail, meantime, while previously immune to online shopping trends, is seeing increased competition from new rivals like Net-a-Porter.

Barneys is facing extra pressure from the real estate costs associated with its more than 10 namesake stores in New York, California, Illinois, Massachusetts, Nevada, Washington and Pennsylvania.

Rent at Barneys’ flagship on Madison Avenue, owned by Ashkenazy Acquisition, jumped from roughly $16 million to approximately $30 million in January, nearly wiping out its earnings before interest, taxes, depreciation and amortization.

A bankruptcy filing from Barneys this week would mark its second. It filed for the first time, to protect the company from creditors, back in 1996.

The Wall Street Journal first reported Barneys’ plans for a Monday filing.


Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: lauren hirsch lauren thomas, lauren hirsch, lauren thomas
Keywords: news, cnbc, companies, stores, deal, store, bankruptcy, loan, online, nears, york, soon, file, filing, department, barneys, reported


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5 groceries that are cheaper at Aldi than Trader Joe’s

If you’re shopping at Trader Joe’s to score the best prices, chances are, you’re getting a pretty good deal. “Aldi, happily, has a lot of good quality, good-tasting products at good prices,” John Karolefski, grocery store analyst and editor of Grocery Stories, tells CNBC Make It. It’s a strategy similar to the one used by Trader Joe’s, but Aldi is able to beat their prices because it also takes a stripped-down approach in its stores. It’s worth noting that Aldi U.S. and Trader Joe’s are independ


If you’re shopping at Trader Joe’s to score the best prices, chances are, you’re getting a pretty good deal. “Aldi, happily, has a lot of good quality, good-tasting products at good prices,” John Karolefski, grocery store analyst and editor of Grocery Stories, tells CNBC Make It. It’s a strategy similar to the one used by Trader Joe’s, but Aldi is able to beat their prices because it also takes a stripped-down approach in its stores. It’s worth noting that Aldi U.S. and Trader Joe’s are independ
5 groceries that are cheaper at Aldi than Trader Joe’s Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: megan leonhardt
Keywords: news, cnbc, companies, store, stores, groceries, products, good, youre, trader, prices, joes, grocery, cheaper, aldi


5 groceries that are cheaper at Aldi than Trader Joe's

If you’re shopping at Trader Joe’s to score the best prices, chances are, you’re getting a pretty good deal. But there are several everyday items you may be surprised to find are cheaper at Aldi.

“Aldi, happily, has a lot of good quality, good-tasting products at good prices,” John Karolefski, grocery store analyst and editor of Grocery Stories, tells CNBC Make It. “It’s one of the reasons they’ve been so successful in the U.S.”

Part of the secret to the store’s low prices is that the vast majority of their products are private label, so you’re not paying for the marketing and advertising that many brands use to attract customers.

It’s a strategy similar to the one used by Trader Joe’s, but Aldi is able to beat their prices because it also takes a stripped-down approach in its stores. There are few frills: Products are shelved in the shipping boxes they arrived in, there are fewer employees around the store to help customers, you need to bring and bag your own groceries and you rent your shopping cart for a quarter to ensure you bring it back.

It’s worth noting that Aldi U.S. and Trader Joe’s are independently operated companies with distinct but once-related corporate parents. It could be said that Aldi and Trader Joe’s are “estranged cousins.”

Next time you’re heading to the grocery store, here are five items to try purchasing from Aldi to save a bit more on your grocery budget.


Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: megan leonhardt
Keywords: news, cnbc, companies, store, stores, groceries, products, good, youre, trader, prices, joes, grocery, cheaper, aldi


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Lowe’s lays off thousands of workers

Home improvement retailer Lowe’s has told thousands of workers that their jobs are being eliminated. The company plans to outsource jobs of maintenance and assembly workers to third-party companies. “We are moving to third-party assemblers and facility services to allow Lowe’s store associates to spend more time on the sales floor serving customers. The company announced in April that it is opening a new technology center in North Carolina and would hire up to 2,000 employees there. Last year, C


Home improvement retailer Lowe’s has told thousands of workers that their jobs are being eliminated. The company plans to outsource jobs of maintenance and assembly workers to third-party companies. “We are moving to third-party assemblers and facility services to allow Lowe’s store associates to spend more time on the sales floor serving customers. The company announced in April that it is opening a new technology center in North Carolina and would hire up to 2,000 employees there. Last year, C
Lowe’s lays off thousands of workers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: jesse pound lauren thomas, jesse pound, lauren thomas, jasmine wu
Keywords: news, cnbc, companies, lays, store, announced, thirdparty, thousands, stores, closures, lowes, workers, jobs, coresight, company


Lowe's lays off thousands of workers

Home improvement retailer Lowe’s has told thousands of workers that their jobs are being eliminated.

The company plans to outsource jobs of maintenance and assembly workers to third-party companies. The assembly workers put together products such as wheelbarrows and grills.

“We are moving to third-party assemblers and facility services to allow Lowe’s store associates to spend more time on the sales floor serving customers. Associates who were in these positions will be given transition pay and have the opportunity to apply for open roles at Lowe’s,” the company said in a statement to CNBC.

News of the layoffs was first reported by the Wall Street Journal.

The company said in a securities filing earlier this year that, as of Feb. 1, it had roughly 190,000 full-time employees and another 110,000 part-time workers.

Lowe’s has added jobs outside of its traditional retail centers. The company announced in April that it is opening a new technology center in North Carolina and would hire up to 2,000 employees there.

The company’s stock, which has a market value of $78 billion, was trading down nearly 2% on Thursday afternoon. Lowe’s shares are up nearly 8% since the start of the year.

Since CEO Marvin Ellison took over in July 2018, Lowe’s has been shuttering stores to reduce costs. The company said it currently has 1,725 stores in the United States.

The store closures have been part of a bigger trend in retail. So far this year, more than 7,000 store closures have been announced by U.S. retailers, according to a tracking done by Coresight Research. And the tally could top 12,000 by the end the year, setting a new record, Coresight says. Last year, Coresight tracked 5,524 store closures, down more than 30% from an all-time high of 8,139 closures announced in 2017.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: jesse pound lauren thomas, jesse pound, lauren thomas, jasmine wu
Keywords: news, cnbc, companies, lays, store, announced, thirdparty, thousands, stores, closures, lowes, workers, jobs, coresight, company


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