Macy’s to Close 150 Stores as Sales Slip and It Pivots to Luxury
Macy’s will close 150 stores over the next three years and 50 by the end of 2024, the department store said Tuesday after posting a fourth quarter loss and declining sales.
Americans Ramped Up Holiday Spending Despite Inflation, Anxiety
Holiday sales rose this year and spending remained resilient during the shopping season even with Americans wrestling with higher prices in some areas and other financial worries, according to the latest measure.
Boston, Area Communities Roll Back Reopening to Phase Two
Boston is joining several area cities and towns in closing gyms, museums, private clubs and other businesses for three weeks in an effort to rein in the spread of COVID-19.
Dunkin’ to Close 800 US Stores as Pandemic Hurts Sales
Dunkin’ Brands Inc. expects to close up to 800 underperforming U.S. stores this year as it tries to shore up its portfolio in the wake of the coronavirus pandemic.
Banker & Tradesman’s Editorial Cartoon: So Close
The coronavirus transmission rate has slipped above a key threshold in Massachusetts, just as the state was poised to have a relatively worry-free reopening.
Shopping, Outdoor Dining Resumes Today
Massachusetts restaurants, retail shops, child care facilities and hotels got the green light Saturday to emerge from their government-induced slumbers beginning on Monday, with important safety restrictions.
Cinema Chain AMC Warns It May Not Survive the Pandemic
Movie theater chain AMC warned Wednesday that it may not survive the coronavirus pandemic, which has shuttered its theaters and led film studios to explore releasing more movies directly to viewers over the internet.
New Laws, Flexibility Needed to Facilitate Outdoor Dining
While some municipalities work to make it easier for restaurants to reopen with outdoor dining, the head of the Newton-Needham Regional Chamber said other businesses can help and that diners need to be prepared to pay more for a meal out.
Some Mass. Businesses Could Reopen May 18
The state’s goal is to have some business reopen May 18, pending the completion of new guidelines, Gov. Charlie Baker said.
Retailers Reel from Virus, but Get Creative
Across Massachusetts, restaurateurs are swapping dining room china and silverware for to-go containers and plastic cutlery as they scramble to deal with the impact of the coronavirus.
Hotels, Retail and Tech Vulnerable to Coronavirus Impacts
Disruption to U.S. commercial real estate markets from the coronavirus outbreak will hit the hotel and retail industries hardest initially and cause supply chain disruptions that could affect the tech sector.
Joe Coulombe, Founder of Trader Joe’s Markets, Dies
Joe Coulombe envisioned a new generation of young grocery shoppers emerging in the 1960s, one that wanted healthy, tasty, high-quality food they couldn’t find in most supermarkets and couldn’t afford to buy in the few high-end gourmet outlets.
Help for Gateway Cities’ Retail Environments
In Gateway Cities, retail vacancy presents a major challenge. Older buildings lack modern infrastructure and rarely conform to current codes. Convincing building owners to make costly upgrades is difficult. Fortunately, Massachusetts has little-known tools that are just right for this job.
Time to Change Your Retail Strategy
When seen in light of brick-and-mortar retailers’ ongoing struggles, what’s going on in Malden Center makes a compelling case that landlords ought to look at storefront spaces less as profit centers and more as drivers of overall value.
Champagne and Shoes: Luxury Stores Adapt to Changing Shopper
New entrants have disrupted the luxury sector by creating different channels to attain the seemingly unattainable. For luxury department stores that once had a lock on where the well-heeled could shop, that has forced them to reimagine their approach.
Burlington Mall Expansion Will Include Japanese Barbecue Restaurant
Electronic repair specialist uBreakiFix, Modern Acupuncture and Japanese barbecue concept Gyu-Kaku are joining the list of tenants at The Village at Burlington Mall, the redevelopment of the former Sears Auto building.
State Regulators OK Pot Cafe Program
“Social consumption” marijuana businesses could be coming to a dozen Massachusetts communities under a pilot program approved by the state Cannabis Control Commission.
Payless ShoeSource to Shutter All of Its Remaining US Stores
Payless ShoeSource is shuttering all of its 2,100 remaining stores in the U.S. and Puerto Rico, including nearly 50 in Massachusetts, joining a list of iconic names like Toys R Us and Bon-Ton that have closed down in the last year.
Stop & Shop Will Debut Driverless Grocery Delivery in 2019
Stop & Shop will launch a new grocery delivery in Boston later this year, using remotely piloted vehicles customers can summon with an app.
A Tech Solution for Streamlining Leasing Contracts
By finally adopting digital, data-driven technologies in 2019, CRE companies will be able to expedite business processes and produce greater outcomes for their employees, tenants and ultimately the bottom line.
