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BUSINESS
December 16, 2010 | By Andrea Chang, Los Angeles Times
If you thought crazy store hours were strictly a Black Friday phenomenon, get ready for next week. With little more than a week left before Christmas, retailers are making their final push to entice last-minute shoppers. The last 10 days of the season traditionally bring out huge crowds — retailers see about one-third of their holiday sales during the period — and this year is no exception. Toys R Us announced that it would remain open for 88 hours in a row starting at 6 a.m. Tuesday and continuing until 10 p.m. on Christmas Eve. It's the first time that all Toys R Us stores nationwide will stay open around the clock during the final countdown to Christmas.
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BUSINESS
April 14, 2012 | By Andrea Chang
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.
NEWS
September 24, 1987 | United Press International
The ruling Politburo today approved a measure that would allow the opening of the first semiprivate stores in the Soviet Union in 59 years in order to increase the sales of consumer goods. The 14-man policy-making body ruled that individual small stores, kiosks or stalls can be set up by cooperatives or families, the official Tass press agency said.
BUSINESS
August 8, 2000 | Bloomberg News
IParty Corp., which sells party goods over the Internet, plans to buy 33 retail stores in New England and Florida from Big Party Corp. for an undisclosed price. Big Party, which filed for bankruptcy protection earlier this year, operates 54 U.S. stores and had sales of about $69 million in 1999. New York-based IParty plans to acquire the inventory, fixed assets and leases of Big Party stores in six states. The purchase will give IParty its first "bricks-and-mortar" shops.
BUSINESS
June 6, 2007 | From Times Wire Services
True Religion Apparel Inc., which sells jeans for more than $200 a pair, said it ended its review of alternatives and would focus on opening its own stores and expanding its wholesale and licensing business. The Los Angeles-based company, which had retained Goldman Sachs Group Inc. to review "a number of strategic opportunities," said in a statement that it would add six retail stores for a total of 14 in 2007 and would have at least 50 stores by the end of 2009.
CALIFORNIA | LOCAL
April 15, 2012 | By Andrea Chang, Los Angeles Times
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 already had 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.
BUSINESS
January 28, 2013 | By Tiffany Hsu
Barnes & Noble will shut up to a third of its brick-and-mortar bookstores over the next decade as reading habits change and digital publications evolve, according to a new report. The chain will end up with 450 to 500 stores in 10 years, down from the 689 physical stores it has now, according to Mitchell Klipper, chief executive of Barnes & Noble's retail group. That evens out to about 20 stores shuttered yearly over the period, Klipper said in an interview with the Wall Street Journal.
BUSINESS
January 15, 2014 | By Tiffany Hsu
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.
BUSINESS
October 13, 2011 | Bloomberg News
Gap Inc. plans to close stores domestically while expanding its international and online business and said falling cotton prices will boost its profit margin. Gap will reduce its North American namesake stores to about 700 by the end of 2013, a 34 percent decrease from the count at the end of 2007, Chief Financial Officer Sabrina Simmons said today at an investor meeting in New York. Cotton prices that have declined since reaching records this year will help increase profitability, the company said.
BUSINESS
December 13, 2012 | By Shan Li
It's keeping up with the Joneses, retail edition. Toys R Us says its stores will be open for 88 straight hours in the days leading up to Christmas, following in the footsteps of other retailers opening for shop-til-you-drop marathons to woo procrastinating consumers. The retail marathon will start at 6 a.m. on Dec. 21 and conclude at 10 p.m. on Christmas Eve. Troy Rice, executive vice president of stores and services, said the extended hours will allow people to shop "whenever it is convenient to them.
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