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Retail 2020-07-08T21:30:26Z
bed bath & beyond

Bed Bath & Beyond is closing 200 stores as quarterly sales tumble nearly 50%

Bed Bath & Beyond announced in its July 8 earnings call its plan to "lean into store closures" and cut costs.
Retail 2020-07-08T21:19:33Z
fast food keto options wendys lettuce burger

The CEO of a company that owns more than 100 Wendy's allegedly used $1 million in PPP loans on a new house in Montana, according to a lawsuit

A lawsuit claims that the CEO of a major Wendy's franchisee used $1 million in Paycheck Protection Program loans to fund a newly-purchased house.
Transportation 2020-07-08T21:00:19Z
Screen Shot 2020 07 08 at 3.51.58 PM

Theme parks in Japan are discouraging screaming on roller coasters to slow coronavirus spread, with one park urging riders to 'Please scream inside your heart'

Guidelines set forth by Japan's theme-park associations recommend that thrill-seekers practice physical distancing, wear masks, and avoid screaming.
Retail 2020-07-08T19:17:08Z

Brooks Brothers was struggling even before the pandemic, as it became 'out of step' with a new generation's business fashion sense

With even major Wall Street banks relaxing their dress codes and no longer requiring suits, Brooks Brothers was facing headwinds long before COVID-19.
Retail 2020-07-08T19:01:39Z

On Tuesday, Sephora closed stores for 2 hours to educate employees about racial bias — here's how the cosmetics giant is proving its fight against discrimination is more than just lip service

Sephora was also the first retailer to support the 15% Pledge, a call for brands to dedicate 15% of their shelf space to Black-owned businesses.
Premium Tech 2020-07-08T18:10:25Z

Amazon will start displaying third-party seller names and addresses on its US site to bolster customer information and battle counterfeit products

The move is intended to give customers more information about the merchants they're buying from, and add consistency across its site, Amazon said.
Retail 2020-07-08T17:52:00Z

Ruby Tuesday has quietly closed over 150 restaurants since late January. Here's the list of closures.

Ruby Tuesday has been shedding locations for years as it struggles to win younger consumers.
Retail 2020-07-08T17:51:05Z

Brooks Brothers is permanently closing 51 stores as it enters bankruptcy during the pandemic. See which have shut down so far.

Brooks Brothers decided to close 51 stores before filing for bankruptcy. Some of them have already shuttered.
Tech 2020-07-08T17:46:24Z

People are buying used police body cameras on eBay and other sites and discovering unencrypted footage of officers searching homes

One customer said it was "stupid easy" to recover videos from the SD card within a used device purchased online.
Retail 2020-07-08T17:45:51Z

A Target employee wrote a Muslim woman's name as 'Isis' on her Starbucks order

The local chapter of the Council on American-Islamic Relations said Target's statement was disappointing and called on the barista to be fired.
Retail 2020-07-08T17:35:58Z

Parents plan to drop billions on school necessities at retailers this month, but coronavirus has overhauled the back-to-school shopping cart

Deloitte conducted surveys of parents with kids in college and K-12 schools to get a sense of how the coronavirus has upended back-to-school shopping.
Retail 2020-07-08T16:26:04Z

87% of the thousands of meatpacking workers diagnosed with COVID-19 are Hispanic, Black, or Asian

87% of COVID-19 cases in the meatpacking industry occurred among workers who are racial and ethnic minorities.
Tech 2020-07-08T15:04:57Z

Jeff Bezos' October surprise (no, he's not running for president)

This week in Trending, we take a look at Amazon's latest plans for its delayed Prime Day, Palantir's IPO, and the battle between Tesla and Toyota.
Retail 2020-07-08T14:53:00Z

Before-and-after photos show how much fast-food restaurants have changed over the years

McDonald's restaurants look drastically different now to how they did in 1953, and the same can be said of other chains.
Premium Healthcare 2020-07-08T14:53:00Z
Retail 2020-07-08T14:43:00Z

US retail's foot traffic bounce-back has stalled as the number of coronavirus cases picks up in several states

US retail was recovering from a 82.6% YoY plunge in foot traffic in the week ending April 18 — but in recent weeks its performance is worsening again.
Retail 2020-07-08T14:41:00Z

These 20 retailers and restaurant chains have filed for bankruptcy or liquidation in 2020

J. Crew, Neiman Marcus, and JCPenney are among those that have filed for bankruptcy in the first half of 2020.
Finance 2020-07-08T14:18:00Z

From warehouses to office space, real-estate markets have been turned upside down. These are the winners and losers.

Flex-office firms are struggling, and companies are rethinking leases for offices. Meanwhile, demand for warehouse space is emerging as a bright spot.
Retail 2020-07-08T13:59:00Z

More than 4,700 stores are closing in 2020 as the retail apocalypse drags on. Here's the full list.

Brooks Brothers filed for bankruptcy in July. At the time of the filing, the company had decided to close 51 of its 250 North American stores.
Retail 2020-07-08T12:45:19Z

Iconic American suit maker Brooks Brothers files for bankruptcy

Brooks Brothers, famous for its suits, has filed for bankruptcy amid the coronavirus pandemic and years of flat sales.
Retail 2020-07-08T09:19:00Z

Amazon, ASOS, Next, and Zalando pull Boohoo's brands from their websites following reports that suppliers' factory workers are paid as little as $4 an hour

A Sunday Times investigation found that workers in a factory in the UK that supplied clothes for Boohoo were paid as little as £3.50 ($4.38) an hour.
Retail 2020-07-08T08:53:31Z

Ann Taylor parent company Ascena will reportedly close 1,200 stores across its brands as it prepares for bankruptcy

Under its Chapter 11 arrangement, Ascena would shed about $700 million from its $1.1 billon debt load, and its lenders will assume ownership.
Retail 2020-07-08T07:40:24Z

Boohoo launches an independent review of its supply chain and cuts its relationship with two suppliers following exploitation claims

A recent Sunday Times investigation found that workers at one of its suppliers' factories were paid as little as £3.50 ($4.37) an hour.
Retail 2020-07-08T04:00:00Z

THE BUY BUTTON REPORT: The introduction of SRC will turn the online retail payments industry on its head — here's how payments players can win in the new checkout landscape

This report lays out what SRC and its buy button are, how the button works for users and merchants, and obstacles between it and widespread adoption.
Retail 2020-07-07T21:47:57Z

JCPenney is closing 2 more stores for good

JCPenney, which filed for bankruptcy in May, added two New York stores to its list of locations that are closing for good.
Retail 2020-07-07T21:35:00Z

Levi's is slashing 700 jobs — a total of 15% of its total workforce — as it becomes the latest victim of the coronavirus pandemic

While most retailers are struggling with virus-related sales woes, denim has been hit hard as homebound Americans swap out jeans for athleisure.
Retail 2020-07-07T20:36:35Z

Association representing Target, Home Depot, and other major retailers is demanding that governors start requiring masks in public

Store workers shouldn't have to face hostility around masks while on the job, retailers say.
Retail 2020-07-07T20:26:38Z

Walmart's Amazon Prime rival is reportedly set to launch this month

Recode reported that the subscription service will include perks like members-only discounts and an unlimited same-day delivery service.
Premium Tech 2020-07-07T20:08:25Z

Amazon has put a 15-year company veteran who most recently ran the Prime program in charge of its new COVID-19 testing project, codenamed 'Ultraviolet'

Amazon put its COVID-19 testing project in the hands of a trusted exec with a proven track record in the Prime business — but no healthcare background.
Executive Lifestyle 2020-07-07T19:06:00Z

The founders of Panda Express built a $3 billion fortune off of the Chinese food empire. Here's why the first-generation immigrants say the key to achieving the American dream is giving back.

Panda Express CEO Peggy Cherng launched her Chinese food empire, but says her greatest invention is the donation box by each location's cash register.
Premium Advertising 2020-07-07T18:57:00Z

Meet 18 firms solving companies' giant problems selling and advertising on Amazon

Business Insider identified firms that are helping marketers run ad campaigns and set e-commerce strategies and logistics for sellers.
Retail 2020-07-07T17:05:45Z

Whole Foods employee says workers were sent home for refusing to remove anti-racism shirts as the company faces protests over its dress-code policy

Whole Foods told Business Insider that its dress code prohibits clothing with visible messages that are not company-related.
Premium Advertising 2020-07-07T17:00:00Z

Gary Vaynerchuk is charging up to $250,000 to help companies shake up their e-commerce operations. Here's the pitch deck.

Vaynerchuk said a lot of startups, fueled by venture funding, chased the wrong metrics and are in danger of hitting a growth wall.
Retail 2020-07-07T16:55:02Z

A Home Depot shopper was arrested after scuffling with a fellow customer over masks and saying 'white power'

"I believe in white power," Home Depot shopper Teri Hill allegedly said before engaging in a scuffle with another customer.
Premium Advertising 2020-07-07T16:46:00Z

Verishop is diving into social commerce with shoppable videos, but experts say it will face tough competition from Instagram, Snap, and Pinterest

Verishop is taking a page out of popular e-commerce outlets in China including Alibaba, JD.com, and Pinduoduo.
Premium Retail 2020-07-07T16:37:00Z

Departing Crate & Barrel CEO Neela Montgomery on pivoting the brand during the pandemic and rethinking the store experience

The Crate & Barrel of the future could include smaller stores and more virtual appointments.
Retail 2020-07-07T16:17:00Z

Costco led the way in requiring shoppers to wear masks. Anti-mask customers are still fighting back.

Two months after Costco rolled out its new mask policy, viral clashes between anti-mask customers and employees or other shoppers continue.
Retail 2020-07-07T15:19:42Z

Black shoppers are being called not to spend money anywhere but Black-owned businesses as part of 'Blackout Day' economic protest

Tuesday, July 7, is Blackout Day, which calls for an economic protest of any business that is not Black-owned.
Retail 2020-07-07T15:00:00Z

Chain restaurants including Dunkin' and Starbucks are permanently closing over 1300 total locations during the pandemic. Here's the full list of chains.

Dunkin' is the latest fast food chain to announce a wave of permanent closures during the pandemic.
Retail 2020-07-07T14:55:33Z

Take a look inside this exclusive, socially-distanced tropical restaurant pop-up that has a fully automated ordering system

"COVID gave me the opportunity to reimagine the guest experience," owner James Gardner told Business Insider.
Retail 2020-07-07T14:52:00Z

20 products that are worth buying at TJ Maxx — and 8 more you should skip

We consulted a shopping expert and several blogs and online reviews to find the best and worst products at TJ Maxx.
Retail 2020-07-07T13:45:13Z

Billionaire-backed private members' club Soho House received almost $22 million in coronavirus PPP loans

The US paycheck protection program sanctioned six different loans to the private members' club to protect it from the COVID-19 storm.
Retail 2020-07-07T13:40:00Z

A new oversight policy could make Indian e-commerce more competitive

India's Ministry of Commerce created a draft policy that would give the government more insight into how e-tailers operate in the market.
Premium Finance 2020-07-07T13:19:44Z

How Postmates went from multiple IPO setbacks to a $2.65 billion takeover by Uber

Postmates said in February 2019 that it had filed to go public, but it shied away from an initial public offering several times.
Retail 2020-07-07T13:13:00Z

US digital travel sales will fall 45% this year, down more than $93 billion

The US travel industry has been hit hard by the pandemic and digital travel sales may drop 45% this year, with many sectors not recovering until 2022.
Retail 2020-07-07T12:00:00Z

Corner stores can be hotspots for violence in majority-Black neighborhoods. Here's how one faith-based organization is working to change that.

The Inner-city Muslim Action Network is building solidarity between Arab American storeowners and Black communities one conversation at a time.
Markets 2020-07-07T10:32:54Z

Boohoo stock tumbles 30%, wiping $1.25 billion off its market value, after an explosive report into working conditions at one of its factories

An investigation by the Sunday Times found that the fast-fashion retailer paid its factory workers abysmally low wages.
Markets 2020-07-07T07:44:00Z

Warren Buffett's 'most gruesome mistake' was buying Dexter Shoe. Here's the story of his $9 billion error.

"As a financial disaster, this one deserves a spot in the Guinness Book of World Records," the Berkshire Hathaway boss and famed investor said.
Retail 2020-07-07T06:03:00Z

The Future of Retail: Online Checkout

In The Future of Retail slide deck, Business Insider Intelligence outlines SRC-enabled checkout and explores how it could either take off or burn out.
Premium Tech 2020-07-06T23:01:57Z

The big winner of Uber's $2.65 billion Postmates acquisition is Spark Capital, a small VC firm that's enjoying a streak of hits in a gloomy 2020.

Spark Capital, an investor in Postmates, Mirror, and other buzzy startups, has seen a number of big acquisitions and valuations in its portfolio.
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