Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th


Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th
Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


Toys R Us built a kingdom and the world's biggest toy store. Then, they lost it.

The toy emporium that Charles P. Lazarus envisioned has been reduced to dusty floors and empty shelves.

Much has been said about the demise of the toy empire, which this week announced its plan to liquidate. There have been fingers pointed at corporate raiders, Amazon and big-box stores. All contributed to its undoing.

Ultimately, though, Toys R Us’ collapse is a story of loyalty run dry. The store in its early days fostered devotion from customers and toymakers. In the end, it lost hold on both.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. It didn’t invest in its stores, even as it was adding to the fleet, leaving it vulnerable when new competition moved in.

The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. By 1978, he had created a toy superstore large enough to become a public company.

In its heyday in the 1980s and 1990s, it was the most important toy store in the country, if not the world. Its strength grew as competitors Kiddie City and Child World went out of business.


Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


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17-year-old Walmart employee quits over store intercom: ‘Nobody should work here, ever’

On December 6th, 17-year old Jackson Racicot posted a video titled, “How I quit my job today,” on Facebook. As of today, the video has been viewed nearly 300,000 times. The teen quit his job at the Walmart Grande Prairie Supercentre in Alberta, Canada, by reading a prepared speech into a store-wide intercom system, Insider reports. “Attention all shoppers, associates and management, I would like to say to all of you today that nobody should work here, ever,” he said over the speakers. His speech


On December 6th, 17-year old Jackson Racicot posted a video titled, “How I quit my job today,” on Facebook. As of today, the video has been viewed nearly 300,000 times. The teen quit his job at the Walmart Grande Prairie Supercentre in Alberta, Canada, by reading a prepared speech into a store-wide intercom system, Insider reports. “Attention all shoppers, associates and management, I would like to say to all of you today that nobody should work here, ever,” he said over the speakers. His speech
17-year-old Walmart employee quits over store intercom: ‘Nobody should work here, ever’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: abigail hess, getty images
Keywords: news, cnbc, companies, store, video, job, 17yearold, racicot, walmart, quit, speech, quits, manager, employee, work, posted, today, intercom, management


17-year-old Walmart employee quits over store intercom: 'Nobody should work here, ever'

Some people know how to make an entrance, while others specialize in exits.

On December 6th, 17-year old Jackson Racicot posted a video titled, “How I quit my job today,” on Facebook. As of today, the video has been viewed nearly 300,000 times.

The teen quit his job at the Walmart Grande Prairie Supercentre in Alberta, Canada, by reading a prepared speech into a store-wide intercom system, Insider reports.

“Attention all shoppers, associates and management, I would like to say to all of you today that nobody should work here, ever,” he said over the speakers. “Our managers will make promises and never keep them.”

During his remarks, Racicot noted that he has been working for Walmart for over a year and a half, and calls out his assistant manager for insulting him.

“[Management] will preach to us about how they care about their employees but about a month ago, my boss, assistant manager Cora called me a ‘waste of time,’ and management did nothing.”

His speech, posted here, includes profanity.


Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: abigail hess, getty images
Keywords: news, cnbc, companies, store, video, job, 17yearold, racicot, walmart, quit, speech, quits, manager, employee, work, posted, today, intercom, management


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Here’s how Starbucks plans to boost US sales in five charts

Starbucks may have had a solid fourth quarter, but it’s not resting on its laurels heading into the new year. It’s no secret that Starbucks has been struggling to get diners in the U.S. to frequent its cafes. While sales have been positive, foot traffic continues to stagnate. Same-store sales, a key metric in the restaurant industry, have dwindled over the last year as customers have balked at some of Starbucks’ limited-time offerings. Comparable-store sales exceeded expectations in the latest p


Starbucks may have had a solid fourth quarter, but it’s not resting on its laurels heading into the new year. It’s no secret that Starbucks has been struggling to get diners in the U.S. to frequent its cafes. While sales have been positive, foot traffic continues to stagnate. Same-store sales, a key metric in the restaurant industry, have dwindled over the last year as customers have balked at some of Starbucks’ limited-time offerings. Comparable-store sales exceeded expectations in the latest p
Here’s how Starbucks plans to boost US sales in five charts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: sarah whitten
Keywords: news, cnbc, companies, starbucks, solid, shareholders, sales, yearthe, traffic, struggling, worldwide, charts, plans, store, heres, stagnatesamestore, boost


Here's how Starbucks plans to boost US sales in five charts

Starbucks may have had a solid fourth quarter, but it’s not resting on its laurels heading into the new year.

The coffee giant, which has nearly 30,000 locations worldwide, held its biennial investor day Thursday, giving analysts and shareholders a glimpse into what is in store for the company in 2019 and beyond.

It’s no secret that Starbucks has been struggling to get diners in the U.S. to frequent its cafes. While sales have been positive, foot traffic continues to stagnate.

Same-store sales, a key metric in the restaurant industry, have dwindled over the last year as customers have balked at some of Starbucks’ limited-time offerings. Comparable-store sales exceeded expectations in the latest period, rising 4 percent, but much of that was due Starbucks charging more for its lattes.


Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: sarah whitten
Keywords: news, cnbc, companies, starbucks, solid, shareholders, sales, yearthe, traffic, struggling, worldwide, charts, plans, store, heres, stagnatesamestore, boost


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Amazon reportedly plans to launch its first physical ‘Go’ store outside the US

Amazon is planning its first physical store in the U.K., likely to be in London’s West End shopping district, according to a report in The Telegraph. The newspaper cited anonymous industry sources who said the company is looking for sites between 3,000 and 5,000 square feet in size for the Amazon Go store. The Telegraph’s report said Amazon’s U.S. team was behind the move, which may see the company open a store at Oxford Circus, the junction between London’s Oxford Street and Regent Street.


Amazon is planning its first physical store in the U.K., likely to be in London’s West End shopping district, according to a report in The Telegraph. The newspaper cited anonymous industry sources who said the company is looking for sites between 3,000 and 5,000 square feet in size for the Amazon Go store. The Telegraph’s report said Amazon’s U.S. team was behind the move, which may see the company open a store at Oxford Circus, the junction between London’s Oxford Street and Regent Street.
Amazon reportedly plans to launch its first physical ‘Go’ store outside the US Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: lucy handley
Keywords: news, cnbc, companies, physical, west, outside, uk, amazon, street, telegraphthe, plans, reportedly, store, report, launch, londons, company, oxford


Amazon reportedly plans to launch its first physical 'Go' store outside the US

Amazon is planning its first physical store in the U.K., likely to be in London’s West End shopping district, according to a report in The Telegraph.

The newspaper cited anonymous industry sources who said the company is looking for sites between 3,000 and 5,000 square feet in size for the Amazon Go store.

The Telegraph’s report said Amazon’s U.S. team was behind the move, which may see the company open a store at Oxford Circus, the junction between London’s Oxford Street and Regent Street.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: lucy handley
Keywords: news, cnbc, companies, physical, west, outside, uk, amazon, street, telegraphthe, plans, reportedly, store, report, launch, londons, company, oxford


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Michael Flynn developments suggest Mueller’s Russia probe has more in store

Others speculated more charges could have been unveiled against Flynn in Tuesday’s sentencing memo. But Flynn’s plea agreement with Mueller says he is eligible for a sentence ranging from zero to six months behind bars. Not everyone viewed the sentencing memo as an hors d’oeuvre on Mueller’s full menu of criminal discoveries. Flynn’s lawyers will file their own version of the sentencing memo by Dec. 11, followed by a reply from the government three days later. “The cooperation does not appear to


Others speculated more charges could have been unveiled against Flynn in Tuesday’s sentencing memo. But Flynn’s plea agreement with Mueller says he is eligible for a sentence ranging from zero to six months behind bars. Not everyone viewed the sentencing memo as an hors d’oeuvre on Mueller’s full menu of criminal discoveries. Flynn’s lawyers will file their own version of the sentencing memo by Dec. 11, followed by a reply from the government three days later. “The cooperation does not appear to
Michael Flynn developments suggest Mueller’s Russia probe has more in store Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: kevin breuninger
Keywords: news, cnbc, companies, sentencing, developments, russia, mueller, probe, flynn, michael, trump, special, plea, muellers, suggest, store, trumps, flynns, memo


Michael Flynn developments suggest Mueller's Russia probe has more in store

Special counsel Robert Mueller’s glowing performance review of star witness and former national security advisor Michael Flynn suggests there are more shoes to drop in the ongoing probe of Russian election interference.

In a heavily redacted court filing ahead of Michael Flynn’s Dec. 18 sentencing, Mueller on Tuesday recommended a light sentence — possibly no incarceration — for President Donald Trump’s former aide.

Mueller said in the sentencing memo that Flynn, 60, had provided “firsthand insight” over the course of 19 interviews with special counsel investigators and Justice Department attorneys, and that his benefits to their work “may not be fully realized” until the investigations are finished.

The filing reveals that Flynn’s cooperation extended beyond the probe of Russian meddling in the 2016 U.S. presidential election and possible coordination between Trump campaign-related figures and the Kremlin.

One lengthy section, almost entirely blacked out, points to a separate and unspecified “criminal investigation” in which Flynn had “provided substantial assistance” to investigators.

“Mueller still has many more revelations to drop, and they’re going to land hard,” former federal prosecutor Elie Honig wrote in a CNN op-ed about the memo.

White-collar attorney Sol Wisenberg, who was deputy independent counsel in the Whitewater investigation into then-President and first lady Bill and Hillary Clinton, said on Fox News that “the memo itself is kind of a dud,” but only because “all the good stuff is redacted.”

Flynn pleaded guilty in December 2017 to a single count of lying to the FBI about his contacts with Sergey Kislyak, Russia’s ambassador to the U.S. Flynn spoke to Kislyak during the presidential transition period about sanctions slapped on Russia by President Barack Obama in December 2016, in retaliation for that country’s attempts to interfere in the presidential election.

Some legal minds at the time considered the one-count plea agreement a “sweetheart deal” in light of previously revealed potential offenses Flynn was alleged to have committed, such as making false statements in documents he retroactively filed when registering as a foreign agent for Turkey. Others speculated more charges could have been unveiled against Flynn in Tuesday’s sentencing memo.

“Flynn could have been subjected to additional charges that would have considerably raised that calculus,” former U.S. Attorney Joyce Vance said Wednesday on MSNBC. But the fact that his plea continued to include just one charge of lying to the government “tells me that he really brought something valuable to the table,” Vance added.

Lying to the FBI carries a possible maximum sentence of five years in prison. But Flynn’s plea agreement with Mueller says he is eligible for a sentence ranging from zero to six months behind bars.

Before the memo was made public, professor David Shapiro of John Jay College of Criminal Justice said he would be looking to see why Flynn’s plea deal gave that lenient sentencing range. “I would be seeking reasons why this case was both given intense scrutiny and pleaded downward,” Shapiro said in an email. “‘Where’s the beef?'”

After reading the filing, Shapiro said, “It overwhelmingly compels the conclusion that more is to come” from Mueller.

Not everyone viewed the sentencing memo as an hors d’oeuvre on Mueller’s full menu of criminal discoveries.

Rudy Giuliani, the former New York mayor who is representing Trump in the Mueller probe, reportedly sent a text to a Politico reporter appearing to derisively suggest that the filing produced nothing of value.

Flynn’s lawyers will file their own version of the sentencing memo by Dec. 11, followed by a reply from the government three days later.

The favorable treatment Flynn received from Mueller in the memo contrasts sharply with the special counsel’s recent revelation that Paul Manafort, Trump’s former campaign chairman, had lied to investigators after striking his own plea deal. Manafort was convicted in August on eight criminal counts related to work he did for a pro-Russia political party in Ukraine years before joining Trump’s campaign. He pleaded guilty to other charges lodged by Mueller in September, just before his second trial began.

Mueller is expected to file another court document later this week in connection with Manafort.

Another former Trump associate, Michael Cohen, admitted last week that he lied to Congress about an aborted plan to build a Trump Tower in Moscow. Cohen, Trump’s former personal attorney, has cooperated with Mueller’s team in seven interviews reportedly totaling 70 hours of participation. He is expected to be sentenced on Dec. 12.

But while those matters are among the recent developments to be made public in the Mueller probe, it’s not likely that Flynn had dished to the special counsel about them in particular, according to David Weinstein, a defense attorney and former federal prosecutor.

“The cooperation does not appear to be against Manafort or Cohen or it wouldn’t have been blacked out,” Weinstein said of the sentencing memo.

“There is more to come.”


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: kevin breuninger
Keywords: news, cnbc, companies, sentencing, developments, russia, mueller, probe, flynn, michael, trump, special, plea, muellers, suggest, store, trumps, flynns, memo


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6 foods you should never buy at Whole Foods

Though Amazon purchased Whole Foods over a year ago, prices at the high-end grocery chain haven’t come down (though Prime members can get 10 percent off). A cart of groceries at Whole Foods containing about 60 items cost $197, according a recent research report from Morgan Stanley, about 15 percent higher than a conventional grocery store: The same grocery items at Kroger cost $153. “Generally speaking, the perimeter of Whole Foods Markets are usually much more expensive, but quality is also dee


Though Amazon purchased Whole Foods over a year ago, prices at the high-end grocery chain haven’t come down (though Prime members can get 10 percent off). A cart of groceries at Whole Foods containing about 60 items cost $197, according a recent research report from Morgan Stanley, about 15 percent higher than a conventional grocery store: The same grocery items at Kroger cost $153. “Generally speaking, the perimeter of Whole Foods Markets are usually much more expensive, but quality is also dee
6 foods you should never buy at Whole Foods Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: megan leonhardt, -cindy livesey, author of living rich with coupons
Keywords: news, cnbc, companies, foods, way, cost, prices, store, buy, higher, items, research, expensive, grocery


6 foods you should never buy at Whole Foods

Though Amazon purchased Whole Foods over a year ago, prices at the high-end grocery chain haven’t come down (though Prime members can get 10 percent off). A cart of groceries at Whole Foods containing about 60 items cost $197, according a recent research report from Morgan Stanley, about 15 percent higher than a conventional grocery store: The same grocery items at Kroger cost $153.

“Generally speaking, the perimeter of Whole Foods Markets are usually much more expensive, but quality is also deemed better, too,” says Chuck Grom, Managing Director of Gordon Haskett Research Advisors, who analyzes pricing trends at Whole Foods and other retailers.

Even so, you should really only shop at Whole Foods for specialty items you can’t find elsewhere, or if a certain product is on sale, Cindy Livesey, author of “Living Rich with Coupons,” tells CNBC Make It. “It’s a very expensive store and their prices on the majority of their items are way higher than you can get anywhere else.”

Here are the top six foods experts say you shouldn’t bother buying at Whole Foods.


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: megan leonhardt, -cindy livesey, author of living rich with coupons
Keywords: news, cnbc, companies, foods, way, cost, prices, store, buy, higher, items, research, expensive, grocery


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How to protect yourself after Marriott’s Starwood data breach

If you’ve stayed at a Starwood Hotel property in recent years, your personal information may have been compromised. Marriott International announced Friday that hackers had copied data from the reservation database for its Starwood Hotels brand, with unauthorized access dating back to 2014. “The company has not finished identifying duplicate information in the database, but believes it contains information on up to approximately 500 million guests who made a reservation at a Starwood property,”


If you’ve stayed at a Starwood Hotel property in recent years, your personal information may have been compromised. Marriott International announced Friday that hackers had copied data from the reservation database for its Starwood Hotels brand, with unauthorized access dating back to 2014. “The company has not finished identifying duplicate information in the database, but believes it contains information on up to approximately 500 million guests who made a reservation at a Starwood property,”
How to protect yourself after Marriott’s Starwood data breach Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: kelli b grant
Keywords: news, cnbc, companies, information, visit, million, credit, store, reservation, protect, starwood, guests, marriotts, breach, address, data


How to protect yourself after Marriott's Starwood data breach

If you’ve stayed at a Starwood Hotel property in recent years, your personal information may have been compromised.

Marriott International announced Friday that hackers had copied data from the reservation database for its Starwood Hotels brand, with unauthorized access dating back to 2014.

“The company has not finished identifying duplicate information in the database, but believes it contains information on up to approximately 500 million guests who made a reservation at a Starwood property,” Marriott said in the announcement.

For 327 million guests, they said, the information compromised “includes some combination of” data points including name, mailing address, phone number, email address, passport number and date of birth. Some of those guests may also have had their payment card information compromised.

“For the remaining guests [in that 500 million total], the information was limited to name and sometimes other data such as mailing address, email address, or other information,” they said.

The extent of the data stolen makes it important for travelers to take action. (See tips below.)

“The names, addresses, passport numbers and other sensitive personal information that was exposed is of greater concern than the payment info, which was encrypted,” CreditCards.com industry analyst Ted Rossman said in a statement. “People should be concerned that criminals could use this info to open fraudulent accounts in their names.”

How to freeze your credit report for free: • TransUnion: Visit TransUnion.com/credit-freeze. The company also has a free-freeze mobile app called myTransUnion, available at the Google Play Store and the Apple App Store. • Equifax: Visit https://www.Equifax.com/personal/credit-report-services/. Or call its automated line at 800-685-1111. • Experian: Visit www.Experian.com/freeze. Or call 1-888-EXPERIAN (1-888-397-3742).

Review your credit report and statements for potential fraud. Consider freezing your credit, if other breaches haven’t already prompted you to take that step. It’s free, and quickly accomplished by reaching out to the three major bureaus.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: kelli b grant
Keywords: news, cnbc, companies, information, visit, million, credit, store, reservation, protect, starwood, guests, marriotts, breach, address, data


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Morgan Stanley upgrades McDonald’s on store modernization: ‘Buying the McDonald’s of the future’

Morgan Stanley is “buying the McDonald’s of the future today,” the firm says in upgrading the fast-food chain’s stock to overweight from equal weight. McDonald’s shares rose 1.4 percent in premarket trading. Glass said “the market is potentially underappreciating” these modernization efforts, and he expects McDonald’s will soon have a “structurally improved” business model. McDonald’s shares outperform the market 60 percent of the time when the S&P 1500 is declining and the CBOE Volatility Index


Morgan Stanley is “buying the McDonald’s of the future today,” the firm says in upgrading the fast-food chain’s stock to overweight from equal weight. McDonald’s shares rose 1.4 percent in premarket trading. Glass said “the market is potentially underappreciating” these modernization efforts, and he expects McDonald’s will soon have a “structurally improved” business model. McDonald’s shares outperform the market 60 percent of the time when the S&P 1500 is declining and the CBOE Volatility Index
Morgan Stanley upgrades McDonald’s on store modernization: ‘Buying the McDonald’s of the future’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: michael sheetz, getty images
Keywords: news, cnbc, companies, efforts, future, stock, mcdonalds, market, store, glass, stanley, upgrades, morgan, shares, buying, modernization, defensive


Morgan Stanley upgrades McDonald's on store modernization: 'Buying the McDonald's of the future'

Morgan Stanley is “buying the McDonald’s of the future today,” the firm says in upgrading the fast-food chain’s stock to overweight from equal weight.

“We are endorsing the notion that McDonald’s massive store modernization efforts, first rolled out in select international markets and now in the US (its single largest market), will begin to pay off in ’19 and should produce best in class sales results for more years to come,” Morgan Stanley’s John Glass said in a note to investors Thursday.

McDonald’s shares rose 1.4 percent in premarket trading.

Glass said “the market is potentially underappreciating” these modernization efforts, and he expects McDonald’s will soon have a “structurally improved” business model. He added that McDonald’s is a key “defensive” stock “during periods of economic slowing.” McDonald’s shares outperform the market 60 percent of the time when the S&P 1500 is declining and the CBOE Volatility Index is rising.

“McDonald’s provides a stabilizing, defensive counterbalance in a volatile market environment,” Glass said.

Morgan Stanley raised its price target on McDonald’s to $210 a share from $173 a share

WATCH:We tried out the world’s fanciest McDonald’s


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: michael sheetz, getty images
Keywords: news, cnbc, companies, efforts, future, stock, mcdonalds, market, store, glass, stanley, upgrades, morgan, shares, buying, modernization, defensive


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More trouble for malls: A new wave of closures from Gap, Victoria’s Secret and others

Now, a slew of specialty retailers like Gap and L Brands are getting serious about downsizing, which will leave more vacant storefronts within malls until landlords are able to replace tenants. And if retailers are not shutting stores, the focus is on negotiating with landlords over how to cut rent and other expenses. The comments come after Gap earlier this month warned it could shut hundreds of stores for its namesake brand “quickly” and “aggressively.” Victoria’s Secret has been viewed as dra


Now, a slew of specialty retailers like Gap and L Brands are getting serious about downsizing, which will leave more vacant storefronts within malls until landlords are able to replace tenants. And if retailers are not shutting stores, the focus is on negotiating with landlords over how to cut rent and other expenses. The comments come after Gap earlier this month warned it could shut hundreds of stores for its namesake brand “quickly” and “aggressively.” Victoria’s Secret has been viewed as dra
More trouble for malls: A new wave of closures from Gap, Victoria’s Secret and others Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: lauren thomas, scott mcintyre, bloomberg, getty images
Keywords: news, cnbc, companies, owners, leases, gap, brands, wave, secret, company, stores, trouble, malls, shut, told, closures, victorias, retailers, store


More trouble for malls: A new wave of closures from Gap, Victoria's Secret and others

Mall and shopping center owners across the U.S. are preparing to be hit by more store closures, following a brutal year that included department store chains like Bon-Ton and Sears going bankrupt, Toys R Us liquidating and even Walmart shutting dozens of its club stores.

Now, a slew of specialty retailers like Gap and L Brands are getting serious about downsizing, which will leave more vacant storefronts within malls until landlords are able to replace tenants.

And if retailers are not shutting stores, the focus is on negotiating with landlords over how to cut rent and other expenses. Real estate analysts say it’s the retailers, not the mall and shopping center owners, that still have the upper hand in most negotiations today.

“Our early read on 2019 is more of the same … with both malls and [shopping centers] facing another year of tepid earnings growth and store closure-related headwinds,” Mizuho analyst Haendel St. Juste said.

The CEO of clothing retailer Express, David Kornberg, told analysts Thursday morning the company is “benefiting from reduced occupancy costs, which are expected to continue based on recent lease negotiations.”

Express has 60 percent of its leases up for renewal over the next three years, and will be in a position to argue for slashed rents because of that, he said. Express currently has more than 600 stores, including outlets, across the U.S. and Puerto Rico.

The comments come after Gap earlier this month warned it could shut hundreds of stores for its namesake brand “quickly” and “aggressively.”

“There are hundreds of other stores that likely don’t fit our vision for the future of Gap brand specialty store, whether in terms of profitability, customer experience, traffic trends,” CEO Art Peck said.

Then, L Brands CFO Stuart Burgdoerfer told analysts earlier in November the company is going to “take a hard look” at its real estate “over the next several months.” He said L Brands hasn’t had much flexibility to shut stores of late, without incurring a penalty, as leases in the U.S. typically last for 10 years, and can be 15 years in the U.K. But he hinted the company hopes to take a more aggressive stance, moving forward.

“We’re doing some more purposed testing for Victoria’s [Secret] around closing some stores that may not be as obvious financially, but really observing the sales transfer effects,” Burgdoerfer said. Victoria’s Secret has been viewed as dragging down Bath & Body Works, which is also owned by L Brands and is seeing improved sales trends for its lotions and candles as its stores are being remodeled.

Bucking the trend, Abercrombie & Fitch said Thursday morning it plans to close fewer stores this year than it previously anticipated, based on a regained momentum of its apparel business. It’s now planning to shut just 40 locations in malls, compared with a previous target of 60. But it also still has 60 percent of its leases expiring by 2020, giving the company more flexibility in the coming months to sign better deals with property owners. Abercrombie currently has more than 850 stores globally, including those under the Hollister banner.

“I would say, we retain a lot of flexibility with our leases … based on lease expiration,” CEO Fran Horowitz told CNBC. “We work with our landlords. We negotiate with them.”

All things considered, U.S. mall owners like Simon, Macerich, Taubman, Seritage, Brookfield and Unibail-Rodamco-Westfield must look for new ways to fill these gaps, as there aren’t many retailers today opening new stores at the same size and scale as before the Great Recession.

Some are turning to co-working spaces, apartment complexes and health facilities to replace department stores. Others are building spaces that house multiple e-commerce brands on a rotating basis. There’s a wave of digital brands like Casper, Warby Parker and Untuckit opening bricks-and-mortar locations.

“We continue to believe that we’re still in the earlier stages of the reshaping of the retail landscape and facing a challenging backdrop marked by defensive landlords/weak pricing power, more anticipated store closures, and selective capital,” St. Juste said.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: lauren thomas, scott mcintyre, bloomberg, getty images
Keywords: news, cnbc, companies, owners, leases, gap, brands, wave, secret, company, stores, trouble, malls, shut, told, closures, victorias, retailers, store


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Here is a look at the new store design Baskin-Robbins is testing

Baskin-Robbins is testing a new sleek and modern store format that will feature novelty snacks and prominent ice cream displays. The iconic ice cream brand unveiled its store design Wednesday in Fresno, California. He expects the company will open six to 10 locations in 2019, between new stores and remodels, and a second concept Baskin-Robbins store will open in El Paso, Texas in early 2019. Dunkin’, which shares an owner with Baskin-Robbins in Dunkin’ Brands, is in the midst of a $100 million i


Baskin-Robbins is testing a new sleek and modern store format that will feature novelty snacks and prominent ice cream displays. The iconic ice cream brand unveiled its store design Wednesday in Fresno, California. He expects the company will open six to 10 locations in 2019, between new stores and remodels, and a second concept Baskin-Robbins store will open in El Paso, Texas in early 2019. Dunkin’, which shares an owner with Baskin-Robbins in Dunkin’ Brands, is in the midst of a $100 million i
Here is a look at the new store design Baskin-Robbins is testing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: kate rogers, photo, vinni hoke
Keywords: news, cnbc, companies, concept, testing, prominent, design, dunkin, baskinrobbins, wanted, open, locations, look, store, stores


Here is a look at the new store design Baskin-Robbins is testing

Baskin-Robbins is testing a new sleek and modern store format that will feature novelty snacks and prominent ice cream displays.

The iconic ice cream brand unveiled its store design Wednesday in Fresno, California. The company is planning for a nationwide rollout in 2019, during a time when restaurant players from McDonald’s to Starbucks are creating experiences for customers that are both modern and indelible with new and upgraded stores.

“We’ve done a lot of consumer research and wanted to create a design that reflects what Baskin-Robbins is — a place where guests can come and unwind and create memories with family and friends,” says Jason Maceda, senior vice president of Baskin-Robbins U.S. & Canada. He expects the company will open six to 10 locations in 2019, between new stores and remodels, and a second concept Baskin-Robbins store will open in El Paso, Texas in early 2019.

Dunkin’, which shares an owner with Baskin-Robbins in Dunkin’ Brands, is in the midst of a $100 million investment in its U.S. businesses, including its own next-generation concept stores. Dunkin’ opened 60 of its revamped locations by the end of the third quarter, surpassing its initial goal having 50 by the end of the year.

Baskin-Robbins declined to comment on the size of the investment it is making.

Maceda said there are some 1,300 stores within the system that are Dunkin’ and Baskin-Robbins combined locations, and the brands will be testing new concepts for those in the next year. Both concept stores feature more prominent displays for consumers and modernized touches.

“We wanted to make sure, like Dunkin’, we got this right before we rolled it out,” Maceda said.

Here’s a peek at Baskin-Robbins’ new look:


Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: kate rogers, photo, vinni hoke
Keywords: news, cnbc, companies, concept, testing, prominent, design, dunkin, baskinrobbins, wanted, open, locations, look, store, stores


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