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BUSINESS
September 25, 2012 | By Tiffany Hsu
Staples Inc. is speeding up store closures, shaking up management and boosting its online business as the office-supply chain implements a multiyear plan to cut costs. The Framingham, Mass.-based company is looking to save $250 million, before taxes, by the end of fiscal year 2015. At that point, Staples said it intends to have shaved down its retail square footage by 15%. For now, the chain is looking to accelerate the shutdown of 15 U.S. stores. By the end of its fiscal year, Staples said it expects to have 30 net store closures and 30 downsized or relocated stores in North America.
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BUSINESS
June 14, 2013 | By Tiffany Hsu
The gale force of controversy that's battered Lululemon Athletica Inc. in recent months would have left most executives curled up in a ball, bedridden and buried under a mound of crumpled tissues. Instead, the company's leadership team, which had to recall its too-sheer black yoga pants in March and has been suffering ever since, appears to be in stitches. On Monday, Chief Executive Christine Day said she would step down from her post once a replacement was found. The announcement came two months after Chief Product Officer Sheree Waterson was removed.
BUSINESS
March 26, 2011 | By Ben Fritz, Los Angeles Times
As it heads toward the auction block in early April to end its troubled bankruptcy process, Blockbuster Inc. is closing 186 stores nationwide. The struggling home video chain based in Dallas revealed in court filings that it would reject the leases and abandon its properties at the end of the month in an attempt to reduce its ongoing losses. Among the Blockbuster locations that will close are 15 in California, six of them in the Los Angeles area. Those stores are in El Segundo, Santa Ana, Newport Beach, Corona, Anaheim Hills and L.A.'s Larchmont neighborhood.
BUSINESS
February 24, 2010 | Bloomberg News
Blockbuster Inc. said Wednesday that it will close at least 500 stores and is exploring ways to restructure debt. Blockbuster has been working with Rothschild Inc. since February 2009 on financing and strategy, the Dallas-based company said. The company has total debt of $963.9 million, including leases. The company closed 253 stores in January as more consumers turned to Coinstar Inc.'s Redbox movie vending machines and mail-order and online rental services such as Netflix Inc. Blockbuster, which licenses its name for rental kiosks owned by NCR Corp.
BUSINESS
March 15, 2012 | By Shan Li
Stylish tots and their mothers rejoice -- a collection designed by Diane von Furstenberg hits BabyGap and GapKids stores and the Web today. In this latest partnership between high-end design and mainstream retail, Von Furstenberg, best known for breezy wrap dresses, distilled her aesthetic to create colorful printed apparel, accessories and shoes for the under-14 crowd. Von Furstenberg also reinterpreted her signature wrap dress with a higher waist for young girls to match their mothers.
BUSINESS
March 13, 2012 | By Shan Li
Struggling Barnes & Noble Inc., in its latest attempt to draw shoppers into bricks-and-mortar stores, is adding 25 in-store boutiques that sell products from Penguin publishing house, a report said. These boutiques, which have already been tested in 10 Barnes & Noble stores, are stocked with books published by Penguin and other gift-type items such as mugs and totes, the Wall Street Journal reported. Each one occupies about 200 square feet. The test boutiques have proved successful thus far, and Barnes & Noble decided to expand the concept into more than two dozen other stores, said Patricia Bostelman, a vice president of marketing for the bookseller.
BUSINESS
October 29, 2012 | By Tiffany Hsu
Hurricane Sandy is bearing down hard on the East Coast. Atlantic City, N.J., casinos have been evacuated. Jersey Shore is abandoned. Some Manhattan streets are starting to flood. The mega-storm has already smashed through construction sites, shut down stores and Wall Street and left even jaded residents slightly panicky. Vendors of essential items such as food, water, gas and batteries are prohibited from price-gouging during the tempest, warned New York Attorney General Eric Schneiderman.
BUSINESS
February 13, 2014 | By Tiffany Hsu
Uniqlo, a popular Japanese apparel retailer often compared to American brand Gap, will open its first stores in Southern California this fall at the Beverly Center in Los Angeles and South Coast Plaza in Costa Mesa. The company already has more than 1,300 stores worldwide, including 17 in the U.S. Of those, five are up and running in the Bay Area. The first store in the chain, which is known for its wide array of basics, opened in Hiroshima in 1984. Uniqlo is owned by Japanese holding company Fast Retailing Co., parent to Helmut Lang and Theory.
BUSINESS
November 16, 1997 | GEORGE WHITE
New merchants have been moving to Rodeo Drive as sales rise to levels not seen since the late 1980s. Here is a list of recent store make-overs, openings and expansions. Openings * Hugo Boss: Apparel, acessories and other merchandise; Opened June 1. * Frederic Fekkai: Beauty salon; open Friday. * Hermes: Apparel, accessories, crystal, gifts; reopened Sept. 16 at larger site. * Tommy Hilfiger: Apparel, acessories and other merchandise; opens today.
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