retail

Discount retailer Stage Stores filed for bankruptcy Sunday with plans to sell its business after the coronavirus crisis threw a wrench into its turnaround plans. The Houston-based owner of the Peebles, Goody’s and Gordmans chains said it had no choice but to seek a buyer through the Chapter 11 process after the pandemic forced it …

Under Armour’s shares dropped more than 10 percent on Monday after the company said the COVID-19 crisis caused sales of sneakers and other athletic gear to fell more sharply than expected. Store closures in March stopped Under Armour’s growth this year in its tracks, leading sales to drop 23-percent to $930 million in the quarter …

Amid the carnage of the US employment report for April was one bright spot: Superstores led by Walmart, the world’s largest retailer, added more than 90,000 jobs. Overall, roughly 20.5 million people lost their jobs in April, the Labor Department said on Friday, a wipeout of jobs at a rate not seen since the 1930s. …

JCPenney is preparing to file for bankruptcy protection as soon as next week with plans to permanently close about a quarter of its roughly 850 stores, becoming the latest major US retailer to succumb to fallout from the coronavirus outbreak, according to people familiar with the matter. A bankruptcy filing would cap a long decline …

Neiman Marcus filed for bankruptcy Thursday, blaming the coronavirus for spoiling its turnaround and forcing it into a restructuring. The Dallas-based luxury chain became the second major retailer to declare bankruptcy this week, following J.Crew’s Monday Chapter 11 filing, as the pandemic kneecaps the industry. Neiman said it reached a restructuring deal with most of …

J.Crew filed for bankruptcy this week after years of lackluster sales, but the buyout firm that took it private almost a decade ago still made off with a hefty profit, according to public filings and internal documents reviewed by The Post. Texas-based TPG, headed by billionaires David Bonderman and Jim Coulter, has made a fortune …

Cash-strapped Gap Inc. on Wednesday laid out plans to reopen stores in areas where lockdown curbs have eased, while also introducing social-distancing measures. Retailers are trying to restart business activity brought to a standstill due to the COVID-19 lockdowns. Their stores have remained closed for weeks and have resulted in thousands of workers being laid …

Venerable US retailer Lord & Taylor plans to liquidate inventory in its 38 department stores once restrictions to curb the spread of coronavirus are lifted as it braces for a bankruptcy process from which it does not expect to emerge, people familiar with the matter said on Tuesday. Lord & Taylor’s preparations to liquidate its …

A deal to sell Victoria’s Secret has been scrapped after its private equity buyer sued to get out of the deal on a coronavirus-related claim. L Brands — the retail conglomerate owned by billionaire Les Wexner — said Monday it has scrapped its deal to sell a controlling stake in the struggling lingerie chain to …

Iconic American clothing retailer J.Crew on Monday became the first nationwide retailer to file for bankruptcy as the coronavirus crisis ravages the retail industry. The New York-based company — whose clothes were famously touted by Michelle Obama — is among several major retailers that have suffered while the pandemic forces stores closed and shut shoppers …