January 15, 2014 |
J.C. Penney Co. is attempting to right-size itself by closing 33 under-performing stores around the country and eliminating 2,000 positions, the retailer said Wednesday. The Plano, Texas, company said it hopes the effort will save $65 million a year beginning this year. Units getting the ax will finish shutting down in early May. The only store closing in California is at Arrow Plaza in Rancho Cucamonga. Chief Executive Myron Ullman said the cuts were necessary as part of J.C. Penney's “progress toward long-term profitable growth.” The company operates roughly 1,100 stores nationwide.
August 13, 2011 |
Chinese authorities have found 22 more fake Apple Inc. stores in the city of Kunming after the uncovering of a fake Apple store in that city by a blogger. China's Administration for Industry and Commerce has suspended previously exposed stores from doing business, but the 22 newly discovered stores are instead being ordered to stop using Apple's logo and trademarks, according to a report from Reuters. State media reports said Apple China had filed a complaint with the government and accused such fake stores of unfair competition and trademark violation.
October 11, 2013 |
Forget summer, forget fall. In L.A.'s home furnishings marketplace, the name of the season is change. As consumers fluff homes for the holidays, the rush of new stores and expansions is enough to daunt even the most devoted shopper. A sampling of the comings and goings: Bobby Berk Home: The company that describes itself as “California chic” opened its first store here last week after establishing its brand in New York, Atlanta and Miami. Berk, 31, said his space in the Helms Bakery complex is something of a test site for his just-released line of contemporary sofas, chairs, dressers and tables, all made in downtown L.A. Other names familiar to fans of modern design - Bend, Loll, Fermob - fill out the shop.
December 23, 2012 |
KABUL, Afghanistan -- Firefighters battled through the night to contain a raging fire that swept through a market in the Afghan capital. No injuries were reported, but the blaze destroyed hundreds of stores and millions of dollars worth of merchandise, Afghan police and firefighters said at the scene. Dealers at the neighboring currency exchange, the city's largest, said they evacuated cash, computer equipment and records from their shops as...
March 29, 2012 |
Best Buy's sprawling blue big-box stores will start disappearing this year, replaced by more compact shops and mobile-only stores as the country's largest consumer electronics retailer tries to reclaim revenue from rivals such as Amazon. The company will shut down 50 of its large-model stores this year while testing new branches that are 20% smaller in San Antonio, Texas, St. Paul, Minn. and Best Buy's Minneapolis hometown. The downsizing has been in the works for months . The electronics giant also wants to cut $800 million out of its costs by 2015, including $250 million within the next fiscal year.
April 29, 2010 |
The long-troubled Koo Koo Roo restaurant chain planned to close 10 of its last 13 locations Wednesday night, its parent company said. The stores are being closed as part of a bankruptcy reorganization announced last week by Magic Brands, the Austin, Texas, company that now owns Koo Koo Roo along with the Fuddruckers hamburger chain. Dwayne Chambers, senior vice president for marketing of Magic Brands, said the chain will continue to operate three of its stores, those in Santa Monica, West Hollywood, and the Larchmont neighborhood of L.A..
May 20, 2013 |
Sometimes smaller is better. That's the philosophy of Big 5 Sporting Goods Corp., which owns 415 sporting-goods stores in 12 states, about half of them in California. The El Segundo company believes that operating a large number of easily accessible, smaller stores is more profitable than offering fewer big ones. The average size of its stores is 11,000 square feet, less than a quarter the size of its big-box competitors. "It allows us to be more convenient in metropolitan markets," said Steven G. Miller, Big 5's chief executive and son of co-founder Robert W. Miller.
December 26, 2010 |
It's the day after Christmas, and you're staring down a small mound of gifts you'd never ? not in a million years ? purchase for yourself. How to flip that reindeer sweater into a chic cashmere scarf without getting into a tangle with a salesperson? We asked Trina Gupta, founder of Los Angeles-based personal shopping firm Petite Style Studio, to give us her tips on how to return or exchange unwanted merchandise with little to no fuss. Delay and expect to pay "Time is the biggest factor when returning something," Gupta said, "because the stores want to be able to resell the product, and the longer you wait, the less relevant that product becomes.
August 20, 2009 |
Dump out the coffee cans, car ashtrays and the bottom of your purse. The lowly penny, which almost was taken out of circulation three years ago, is making a comeback as the recession puts a crimp in back-to-school sales. Spiral notebooks, batteries, markers, crayons, pencils and even some clothing are just a few of the items going for 1 cent these days. The gimmick, which seems as old as the penny, is gaining traction as merchants try to attract penny-pinching consumers with deals.
April 14, 2012 |
Beleaguered Best Buy will close three stores in Southern California as part of a previously announced plan to shut 50 locations by the end of the year. The three stores are at 10861 Weyburn Ave. in Westwood; 4120 E. 4th St. in Ontario; and 2857 Park Ave. in Tustin. Eight of the 50 stores had already been tapped for closure. Of the 42 locations announced Saturday, Best Buy said most would be shut by May 12; three additional locations will close by late summer. "This was not an easy decision to make," the company said in a statement.