Joann Fabric to Close 500 Stores Nationwide Amid Second Bankruptcy Filing
Retail giant Joann plans to shutter nearly two-thirds of its fabric and craft stores across the US as part of Chapter 11 restructuring. The company, facing billions in debt, will begin liquidation sales while maintaining operations and employee benefits during the transition.
Costco's Bold Move: Top Clerks to Earn Nearly $32/Hour in Major Wage Boost
Retail giant Costco announces significant wage increases for hundreds of thousands of workers, with top-scale clerks reaching $31.90 per hour by March 2024. The comprehensive three-year agreement includes enhanced benefits and vacation time, setting new standards in retail worker compensation.
Costco Announces Major Wage Hike: Store Workers to Earn Over $30 Per Hour
Retail giant Costco plans to boost wages for US store employees to over $30 per hour within three years, following pressure from the Teamsters union. The phased increase includes immediate raises for both top-tier and entry-level workers, potentially influencing compensation trends across the retail sector.
Starbucks Ends Open-Door Policy: Purchases Now Required for Store Access
Starbucks implements new rules requiring customers to make purchases to use store facilities and restrooms, reversing its 2018 open-door policy. The change aims to address safety concerns while maintaining a welcoming environment, with clear guidelines on acceptable behavior.
Macy's Strategic Overhaul: 66 Store Closures Signal Major Retail Transformation
Retail giant Macy's unveils plans to close 66 stores by early 2025 as part of its 'Bold New Chapter' strategy, aiming to shutter 150 locations by 2026. The restructuring initiative focuses on investing in 350 remaining stores while expanding luxury divisions Bloomingdale's and Bluemercury.
Major U.S. Retailers Announce Historic Wave of Store Closures Amid Digital Shift
Over 7,100 retail locations are set to close in 2024, marking a 69% increase from the previous year and the largest surge since the pandemic. Family Dollar, CVS, Big Lots, and Walgreens lead the closures as traditional retailers struggle against online competition.
Big Lots Closure: Retail Giant Shutters All Stores, Cuts 500+ Corporate Jobs
Big Lots announced the closure of all 963 stores nationwide and the layoff of its corporate workforce following a failed buyout attempt. The dramatic end comes after the retailer's Chapter 11 bankruptcy filing, affecting over 27,000 employees across 48 states.
Walmart Tests Body Cameras to Shield Workers from Rising Customer Violence
Walmart launches a pilot program equipping employees with body cameras amid escalating in-store violence, with 473 gun-related incidents reported since 2020. Unlike other retailers' anti-theft focus, this initiative specifically aims to protect workers from aggressive customer interactions.
TGI Fridays Declares Bankruptcy Amid Post-Pandemic Restaurant Industry Turmoil
TGI Fridays' parent company files for Chapter 11 bankruptcy protection following dramatic reduction in U.S. locations from 237 to 163. The casual dining chain aims to restructure operations while keeping remaining restaurants open, citing COVID-19 impact and increased competition.
Major Drugstore Chains Overhaul Operations Amid Retail Challenges
CVS and Walgreens initiated dramatic transformations in 2024, closing hundreds of stores and revamping business strategies under new leadership. The pharmacy giants struggled with declining front-end sales while seeking to modernize their century-old retail model.