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.
US Consumer Confidence Drops to 96.1 as Virus Spreads
U.S. consumer confidence fell to a reading of 96.1 in November as rising coronavirus cases pushed American optimism down to the lowest level since August.
Pandemic Pushes Start of Holiday Shopping Earlier than Ever
Add last-minute holiday shopping to the list of time-honored traditions being upended by the coronavirus pandemic.
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.
Gyms, Hotels Reopen as Connecticut Sees Infection Rates Fall
A steady stream of customers lined up for barbecue at lunchtime Wednesday at Bear’s Smokehouse in Hartford and for the first time in three months were allowed to take a seat inside, under the second phase of Connecticut’s reopening amid declining coronavirus numbers.
Lamont Ends Pandemic Closure of Hotels
Gov. Ned Lamont issued a new executive order Tuesday night allowing the state’s hotels to resume operation.
Massive Mall Sale Implodes as Virus Shakes Retail
The nation’s largest mall owner is backing out of a $3.6 billion deal to buy a major rival as the coronavirus pandemic shakes the retail industry.
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.
Retail Developer Says Rent Collection Remained Low in May
Tenants submitted just over half of May rent payments to retail landlord Federal Realty Investment Trust, but phased reopenings are continuing at its 104 shopping centers as local authorities lift restrictions on public gatherings.
Not All CT Stores, Restaurants Ready for Partial Reopening
Many Connecticut stores, attractions and restaurants aren’t planning to immediately set up shop Wednesday when some restrictions are lifted in the first phase of Gov. Ned Lamont’s plan to reopen the state from its COVID-19 shutdown.
US Retail Sales Rose 0.5 Percent in May, Led by Online Shopping
Americans stepped up their retail spending last month, a sign that recent worries about cautious consumers dragging on growth may have been overdone.
Litchfield Bank Plans Cash Mobs to Support Local Retail
Litchfield Bancorp has announced the latest target of its Cash Mob campaign to support local retail.
Former Toys ‘R’ Locations Attract Interest
The toy retailer closed hundreds of locations nationwide earlier this year, including ones in Norwalk, Danbury and Milford.
Hartford Area Retail Vacancies Drop Amid Conversions, Redevelopments
Vacancies in the 37.6-million Greater Hartford retail market fell from 11.1 percent to 10.6 percent in the past year, according to an industry report.
A Fairfield County Market in Transition
Al Mirin started out in the real estate industry as a financial analyst, advising investment and leasing brokers on the fundamentals of their pending deals.
