Wednesday, December 21, 2016

Decelerating News

American Apparel  received approval to close nine under-performing stores in New York, Washington, D.C., Seattle, Atlanta, Dallas, Memphis, Santa Cruz, Calif., Evanston, Ill., and Burlington, Vt., by Dec. 31.U.S. Bankruptcy court approved an agreement with liquidators Merchant Resources LLC and Gordon Brothers Retail Partners LLC, that gives the company permission to begin “going out of business” sales for the next two weeks.  .. CVS Health has embarked on a streamlining initiative which will include the closing of 70 stores in 2017. The store closings should provide a $265 million benefit to CVS, mostly in 2017.

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