Tuesday, March 26, 2019
Decelerating Retail News
Whole Foods plans to convert all 12 of its existing 365 stores into regular Whole Foods by the end of this year. The move follows its decision to stop expanding the smaller format stores...Hudson’s Bay Company is closing up to 20 of its 133 US Saks Off 5th stores. No details on the closures were announced...Tesla is shuttering some brick-and-mortar stores in favor of e-commerce. Tesla will keep an unspecified “small number” of its approximately 130 US stores in high-traffic locations...Family Dollar will close 390 stores this year, re-brand some as Dollar Tree, and renovate others as the discount chain seeks a turnaround. Dollar Tree bought Family Dollar in 2015…Premium denim brand Diesel USA Inc. has filed for bankruptcy protection. Diesel USA doesn’t plan to close stores. Instead, its court papers describe a plan to restore the brand in the US, including opening new stores and retrofitting old ones. Diesel USA has 28 US stores...Amazon will close all of its 87 US pop-up locations in April. Amazon has pop-ups inside Whole Foods locations, Kohl’s stores, and malls around the US...Just One More Restaurant, the company that licenses the Palm name to more than 20 restaurants, entered Chapter 11 bankruptcy protection in Fort Meyers, FL...Home furnishings retailer Z Gallerie has filed for Chapter 11 bankruptcy protection and is seeking approval to close 17 of its 76 stores...Shopko plans to liquidate, citing its inability to find a buyer and will close an additional 120 stores in addition to the approximately 250 locations that were announced earlier. Gordon Brothers will oversee the liquidation process, which should conclude in 10 to 12 weeks.