Thursday, January 24, 2019
Decelerating Retail News
Beauty Brands has declared bankruptcy, weeks after the beauty products retailer announced it would close 25 stores, leaving it with 33 locations...Kohl’s Corp. plans to close four “lower performing” stores this year, shutter its customer-service center in Dallas, and offer a retirement program to long-time employees 55 and older. Kohl’s will close two locations in New York, one in KS and one in LA. Kohl’s plans on opening four smaller stores, keeping its store count at 1,158...P.F. Chang’s entered into an agreement to be sold to TriArtisan Capital Partners LLC and Paulson & Co. Inc. The deal is expected to close in the first quarter of 2019. P.F. Chang’s currently operates 214 US locations and franchises another 93 in 24 countries worldwide…The parent company of Sleep Outfitters, Innovative Mattress Solutions, has filed for Chapter 11 bankruptcy protection for reorganization. Innovative Mattress Solutions also owns Mattress Warehouse and Mattress King. The company has 143 stores...Whole Foods Market plans to discontinue the Whole Foods 365 store format. Plans call for the company to continue operating the current 12 Whole Foods 365 locations but not to build any more. Whole Foods operates 475 US stores.