Retailing Giants Shut Hundreds of Stores Down In US & Elsewhere, Job Cutting Feared

Walmart and Macy’s have announced shutting hundreds of stores on Friday and thus lingers the list with other retailing giants like Sears and Target. Surprising growth of ecommerce has reduced growth of the departmental stores and shopping malls. With the announcement of the World’s largest retailer, traditional stores have been started to witness the blink of extinction.

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Abercrombie CEO Jeffries steps down as company seeks new look

Abercrombie & Fitch Co (ANF.N) Chief Executive Michael Jeffries, who transformed the teen apparel retailer from a drab sports brand into a fashion icon before running afoul of shoppers and investors, has stepped down after over two decades at the helm.

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Sears Holdings explores creation of REIT to raise cash

Struggling retailer Sears Holdings Corp (SHLD.O) said it was exploring the conversion of 200-300 stores to a real estate investment trust (REIT) and offer it to shareholders through a rights offering to raise cash.

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Virginia-based digital ID network scores $10M in funding to build own marketplace

Tysons Corner, US-based secure digital ID network scored $10 million in combined venture capital and debt funding to build its own online marketplace for its users.

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Beleaguered Sears Holdings to spin off Lands' End clothing business

Sears Holdings Corp, which had been selling and closing stores to turn around its business, will be spinning off its Lands' End clothing business. The spinoff will be through a pro rata distribution of the apparel retailer's shares to Sears shareholders.

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What to Watch in The Day Ahead on Thursday

Bank of America CEO Brian Moynihan and Federal Reserve Board Governor Jerome Powell will be among bank executives and regulators speaking at an industry conference in New York hosted by The Clearing House Association, which represents interests of the biggest commercial banks.

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Retailers gearing for all important Christmas shopping season

WalMart, Sears, Macy's and other retailers are now doing their best to increase sales for the coming Christmas season.

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