Monday, June 25, 2018

Decelerating News

Luxury grocer Dean & DeLuca, facing claims from suppliers that they haven’t been paid, is shrinking its US brick-and-mortar presence. The retailer’s owner, Pace Development Corp., has reduced the number of Dean & DeLuca locations from 42 to 18...Claire’s Stores won court approval to vacate 37 of its US standalone stores, mostly in malls. In April the retailer, which filed for Chapter 11 bankruptcy two and a half months ago, won court approval to leave an additional 95 stores…Hudson’s Bay Co. will close up to 10 Lord & Taylor stores, including its flagship on 5th Avenue in Manhattan…Kroger Mid-Atlantic will exit the Raleigh-Durham, NC, market in August, closing its 14 stores. The company is under contract with Food Lion for one store, Crunch Fitness for one store, and Harris Teeter for 8 stores. Kroger Mid-Atlantic operates 108 additional stores... H&R Block will close 400 locations. The company operates nearly US 10,000 locations..Starbucks will close 150 poorly performing company-operated stores next year, about three times as many as it typically closes.

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