retailers

Macy’s said on Thursday it could rack up operating losses of up to $1.11 billion in the first quarter, as the department store operator was forced to shut stores due to lockdowns aimed at curbing the spread of the new coronavirus. The health crisis has forced brick-and-mortar retailers to tap credit lines, lay off employees …

Victoria’s Secret is slimming down — and Wall Street likes the new look. The lingerie giant’s corporate parent L Brands saw a 10-percent stock surge on Thursday after Victoria’s Secret said its shuttering more than 20 percent of its stores this year — or about 250 locations in the US and Canada — as its …

Target Corp’s quarterly online sales surged 141 percent due to panic buying in the coronavirus crisis, the retailer said on Wednesday, driving results past Wall Street expectations even as its operational costs soared. The company said it had set aside nearly $500 million to spend on maintaining safety standards at stores and pay employees higher …

Pier 1 Imports is calling it quits. The bankrupt home-goods retailer has asked a court for permission to liquidate its remaining 540 stores once they reopen, ending a 58-year legacy of selling colorful glassware, wicker furniture and other home decor. “This is not the outcome we expected or hoped to achieve,” Robert Riesbeck, Pier 1’s …

JCPenney plans to trim its store count by 29 percent, to about 604, as the US department store chain looks to focus on those more profitable, a regulatory filing showed on Monday, two days after it filed for bankruptcy protection. The stores to stay open accounted for 82 percent of the company’s fiscal 2019 sales, …

JCPenney filed for bankruptcy protection on Friday, the latest among traditional brick-and-mortar retailers to crumble as prolonged store closures due to the COVID-19 pandemic deliver the final blow to troubled businesses. The department store chain, known for selling family apparel, cosmetics and jewelry at roughly 850 locations, said it reached an agreement with creditors for …

JCPenney shares surged after the retailer said it has made a $17 million interest payment that was due May 7. The announcement eased fears that the struggling retailer is headed for a bankruptcy filing soon, sending its shares up nearly 30 percent in afternoon trading, to 25 cents. The once-mighty department store chain has been …

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 …