Kroger, the largest supermarket chain in the U.S., says it plans to close around 60 stores across the country over the next 18 months in a bid to improve profitability and streamline operations.

The announcement came during the company’s earnings call last Friday. While Kroger has yet to release a list of which locations will close, company leadership emphasized that the closures will be spread nationwide and that impacted employees will be offered positions at nearby stores.

“We see this as an opportunity to move sales from underperforming locations to more successful ones,” said interim Chairman and CEO Ronald Sargent. “We believe this will help improve overall profitability.”

Store Closures Come Amid Shifting Strategy

The planned closures mark a shift for Kroger, which had held off on shuttering any stores during its now-defunct merger attempt with rival grocer Albertsons. That $24.6 billion deal, announced in 2022, collapsed late last year after being blocked in court over antitrust concerns.

Sargent noted that Kroger typically evaluates store performance annually, but store closures were paused during the merger process. With that effort now behind them, the company is once again turning its focus to optimizing its footprint.

Expansion Still on the Horizon

Despite the closures, Kroger isn’t slowing down entirely. The company plans to open at least 30 new stores this year and says it will accelerate store openings in “high-growth geographies” starting next year.

The Cincinnati-based chain currently operates 2,731 stores across 35 states and Washington, D.C., under a variety of brand names including Ralphs, Fred Meyer, Smith’s, and King Soopers.

Labor Tensions Simmer

Kroger’s announcement comes at a tense moment for the company, which is facing ongoing labor unrest. Workers represented by the United Food and Commercial Workers union have raised concerns about chronic understaffing and difficult working conditions.

Union members in Southern California began picketing outside a Los Angeles Ralphs last week. Earlier this year, employees at King Soopers stores in Colorado also went on strike over similar issues.

As the company navigates a changing retail landscape and increasing pressure from labor groups, it remains to be seen how these strategic shifts will play out for both shoppers and employees.

Source: AP News – Kroger plans to close 60 US stores in 18 months to improve profits

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Temu, the fast-growing Chinese e-commerce platform known for rock-bottom prices, is changing how it ships to U.S. customers. But don’t be fooled by the shift—most of its products are still made in China.

Key Change: Local Shipping, Same Chinese Goods

Just hours after a key U.S. tariff exemption expired on Friday, Temu announced a major shake-up: all American orders will now be fulfilled from within the U.S. by locally based sellers.

“All sales in the U.S. are now handled by locally based sellers, with orders fulfilled from within the country,” Temu said in a statement.

The move is part of a broader strategy to adapt to new U.S. trade rules while keeping prices low. Temu says it’s been recruiting U.S. sellers to join the platform—but critics point out that this doesn’t mean the products themselves are American-made.

Why the Sudden Shift? The End of a Loophole

Temu—and similar platforms like Shein and AliExpress—previously benefited from a tariff loophole known as the de minimis exemption. It allowed goods valued under $800 to enter the U.S. without customs duties or extensive inspections. This allowed Chinese platforms to flood the U.S. market with ultra-cheap goods, directly from overseas factories.

But with former President Donald Trump’s renewed push for tariffs on all Chinese imports, that loophole’s days are numbered. The idea is to bring manufacturing jobs back to the U.S.—but platforms like Temu may be dodging the impact by simply changing their shipping routes, not their supply chains.

The Reality Behind “Local Fulfillment”

Just because a product ships from a local U.S. warehouse doesn’t mean it was made in America. In fact, most Temu and Shein goods are still manufactured in China.

Both companies have been building up U.S.-based warehouses for years to reduce shipping times. Temu reportedly started asking Chinese suppliers to bulk ship products to American warehouses as early as February, according to Bloomberg.

But once those stocked items run out, it’s unclear what happens next. Will new imports face Trump’s tariffs? Or will Temu pass costs onto consumers—or simply run out of popular products?

Signs of Trouble: Price Changes and Missing Products

Despite Temu’s claim that prices remain the same, some customers are already noticing changes.

One Reddit user said 60 items in their cart suddenly became unavailable. Another user said their cart of over 300 items dropped to just two, and they faced added fees unless the order totaled at least $30 for “local” items.

“Temu is gone! What I saw today completely convinced me,” one user posted. “Local sellers… don’t have all these items I was interested in.”

Temu insists its pricing is unchanged during the shift, but shortages and new minimum order fees tell a different story.

What Happens Next?

Experts say Temu has limited options if shortages grow. According to Chris Tang, a global supply chain expert at UCLA, the company might need to reorder from China—adding cost and time—or offer alternative products that are still in stock.

So far, Temu hasn’t disclosed its manufacturing partners, and it’s unclear how sustainable the new model is under tighter trade regulations.

Bottom Line:
Temu’s new U.S. shipping model may give the impression of American-made goods, but the reality is more complicated. The products are still largely made in China—only the shipping route has changed. And as the effects of new tariffs ripple through global e-commerce, American customers may soon feel the cost.

Source: CNN – Temu says it’s only shipping from the US. That doesn’t mean the products are made here

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Amazon is exploring whether to display tariff surcharges on ultra-low-cost products sold through its Haul platform—a budget-focused section of its website and app offering items under $20. The potential change, confirmed by Amazon to CNBC, signals a new way the retail giant may respond to increasing trade-related costs.

Haul, Amazon’s answer to fast-growing Chinese discount retailers like Temu and Shein, targets price-conscious shoppers with cheap electronics, clothing, and household items. These competitors have gained massive popularity in the U.S. thanks to their rock-bottom prices—often enabled by trade exemptions and low manufacturing costs.

An Amazon spokesperson clarified that the idea of listing import charges is under consideration only for Haul, not the broader Amazon marketplace. “The team that runs our ultra low cost Amazon Haul store has considered listing import charges on certain products,” the company said. “This was never a consideration for the main Amazon site and nothing has been implemented on any Amazon properties.”

The discussion gained traction after Punchbowl News reported that Amazon would “soon” begin showing tariffs alongside product prices—a move that quickly caught the attention of the White House.

White House press secretary Karoline Leavitt didn’t hold back, slamming the idea as politically motivated. “Why didn’t Amazon do this when the Biden administration hiked inflation to the highest level in 40 years?” she said, calling the reported plan a “hostile and political act.”

This tariff-related shake-up comes as Amazon and other retailers brace for the impact of new trade policies under former President Donald Trump’s second round of tariffs. Earlier this month, Amazon began surveying its massive third-party seller network to assess how the new tariffs are affecting operations, product sourcing, and logistics. Many sellers are already feeling the pinch—raising prices, trimming marketing budgets, and adjusting their supply chains in response to rising import costs.

If Amazon proceeds with its surcharge display on Haul, it could set a precedent for greater transparency in how trade policies affect everyday prices—and spark new debates over who really bears the cost of global trade.

Source: CNBC – Amazon considers displaying tariff surcharge on low-cost Haul products

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Constellation Brands, the company behind popular beers Modelo and Corona, says it’s feeling the sting of President Trump’s hardline immigration policies — and it’s showing up in the sales numbers.

According to CEO William Newlands, Latino customers — who make up nearly half of Constellation’s U.S. consumer base — are pulling back from typical social activities, like dining out or attending gatherings. The reason? Growing fears of immigration raids and deportations under Trump’s administration.

“A lot of consumers in the Hispanic community are concerned right now,” Newlands said during a recent earnings call. “Social gatherings, an area where the Hispanic consumer often consumes beer, are declining today as part of these overarching concerns that they have.”

This shift in behavior contributed to a 1% drop in beer shipments last quarter. The dip was most evident in Hispanic neighborhoods, where store traffic has slowed significantly.

In a follow-up interview with The Wall Street Journal, Newlands explained that many Latino consumers are now avoiding local convenience stores and bodegas — typically go-to spots for beer purchases. Instead, they’re opting for larger retail chains where they feel safer blending into the crowd.

Constellation Brands isn’t the only company noticing a downturn among Hispanic consumers:

• Colgate-Palmolive, Foot Locker, Burlington, and Monster Beverage have all reported softer sales in recent weeks, particularly in Hispanic markets.
• John Faucher, VP at Colgate-Palmolive, acknowledged the shift, saying, “There obviously is an impact on Hispanic demand, as we’ve seen, lower traffic from Hispanic consumers.”

Data from market research firm Circana shows that Hispanic consumer spending on non-essentials has declined more sharply than that of non-Hispanic consumers this year.

Market analyst Nik Modi of RBC Capital Markets echoed the trend, noting in a recent client note:

“A consistent theme we have heard over the last several months has been mounting pressure among Hispanic consumers stemming from concerns on immigration policy. This has manifested in pullback from retail.”

Beyond the headlines, Trump’s immigration crackdown is adding yet another stressor to an already shaky economic environment for businesses. The administration’s use of aggressive enforcement tactics — even invoking wartime authority in some cases — has created a chilling effect on communities and commerce alike.

Source: CNN – Trump’s immigration crackdown is hurting Modelo and Corona sales, CEO says

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Across China, a new retail phenomenon is taking shape: stores filled with Russian-made products are popping up everywhere. Decked out in the colors of the Russian and Chinese flags, these stores welcome customers with iconic Russian dolls and shelves lined with chocolates, cookies, honey, and vodka.

While some Chinese shoppers are excited by the variety, others are left puzzled by the sudden surge in these stores, questioning why they seemed to appear almost overnight.

Since 2022, thousands of these Russian specialty stores have opened across China, a trend fueled by the strengthening economic ties between Beijing and Moscow. Russia, facing Western sanctions following its full-scale invasion of Ukraine, has found China to be a crucial economic partner.

Trade between the two nations has reached record highs, with Chinese imports of Russian oil, gas, and coal dominating the exchange. However, Russian food products—such as ice cream, biscuits, and milk powder—have also seen a sharp rise in popularity.

To capitalize on the booming demand, Chinese businesses have jumped into action. More than 2,500 new companies involved in Russian product trade have been registered since 2022, with nearly half established in the past year alone. Most of these firms are concentrated in Heilongjiang, the northeastern province bordering Russia, but their reach has expanded to other regions as well.

Beyond traditional imports like aquatic and agricultural products, Russian-branded chocolates, biscuits, and milk powder have gained a special place among Chinese consumers. Moscow’s promotion of the “Made in Russia” brand has contributed to this growing appeal.

In a Beijing store, a shop assistant enthusiastically arranged candies and biscuits, pointing out bestsellers such as Russian honey and premium chocolates. A recorded message played in the background, extolling the health benefits and high quality of Russian goods.

For many Chinese shoppers, Russian products carry a perception of authenticity and quality. “Russia is a vast country with rich resources, and its people are very friendly,” said Liang Jinghao, a tourist from Shanxi province.

Su, a 20-year-old entrepreneur from Gansu province, has opened three Russian goods stores since September 2023. While her stores also sell Sri Lankan and Australian products, she noted that Russian goods are far more popular. “I think Russian products are a better fit for the local taste,” she said.

The surge in Russian goods aligns with the deepening ties between China and Russia. As tensions with the U.S. escalate, both nations have grown closer, united by a common goal of challenging Western influence.

Public sentiment in China has also leaned favorably toward Russia. A 2023 poll from Tsinghua University’s Center for International Security and Strategy found that 66% of respondents viewed Russia favorably, while 76% held unfavorable views of the U.S.

The craze for Russian goods gained momentum in early 2022 when the “Russian State Pavilion,” an e-commerce store endorsed by the Russian embassy, went viral on Chinese social media. Within three days, Chinese shoppers spent nearly 6 million yuan ($826,000) on Russian goods.

By April 2023, over 300 Moscow-based companies had joined Chinese e-commerce giants like Taobao and JD.com. Later that year, the first “Made in Russia Festival and Fair” debuted in Shenyang and Dalian, featuring over 150 Russian companies. The event resulted in $2.3 million in sales and has since expanded to other cities, including Chengdu.

The Russian Export Center, a state-run organization, has also stepped up efforts, planning to establish 300 official Russian goods stores across China by the end of this year.

With popularity comes scrutiny. Reports have emerged of Russian-branded products in these stores that are actually manufactured in China or even other countries like Malaysia. Influencers and media investigations have exposed mislabeled items, sparking backlash on Chinese social media.

“I’ve never seen these candies in Russia. The packaging is all fake,” said one Russian influencer on Douyin, China’s version of TikTok. Another questioned the authenticity of sausages being sold in a Shanghai store, while a shopkeeper pleaded with her to stop filming.

The Russian embassy in China issued a warning about counterfeit goods, stating that mislabeled products “often do not meet quality requirements” and differ from their genuine Russian counterparts. In response, market regulators in Shanghai conducted inspections on 47 Russian goods stores, uncovering misleading advertising and unauthorized branding.

Some stores were fined or shut down, while others were required to clearly label domestically produced goods. Similar inspections have since been carried out in other cities.

Despite the controversy, demand for Russian goods remains strong. The Russian Export Center has advised consumers to look for the official dove-shaped “Made in Russia” label on packaging to ensure authenticity.

With official backing and consumer enthusiasm still high, the presence of Russian goods stores in China is likely to grow. However, the industry will need to address concerns about product authenticity to maintain trust and sustain its rapid expansion.

Source: CNN – ‘Made in Russia’ goods are the new craze in China’

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Major Surf and Skate Brands Face Store Closures

Quiksilver, Billabong, and Volcom—three iconic brands in the surf and skate industry—are set to close their U.S. retail stores in 2025. The move comes after Liberated Brands, the company operating these stores, filed for Chapter 11 bankruptcy on Sunday.

As a result, over 100 stores across the country will shut down, marking a significant shift for the once-thriving action sports retail sector.

Why Are These Stores Closing?

According to a bankruptcy filing, several economic challenges contributed to the closures, including:
Inflation pressures affecting operational costs
Changes in consumer spending habits
Shifts in the global retail landscape

Liberated Brands acknowledged these difficulties in a statement, saying:
“The team has worked tirelessly over the last year to propel these iconic brands forward, but a volatile global economy and rising cost of living have taken a heavy toll.”

Despite the closures, the Quiksilver, Billabong, and Volcom brands will continue to operate under new management, the company confirmed.

Wider Trend: Retail Struggles Across the U.S.

The shutdown of these stores reflects a broader retail downturn, with other major chains also closing locations.

Recent Retail Closures:

Macy’s – Closing 66 locations in early 2024, with nearly 150 stores set to close over three years under the Bold New Chapter strategy.
Kohl’s – Shuttering 27 underperforming stores by April 2025.

Macy’s and Kohl’s both cited efforts to reshape their business models and focus on profitability amid shifting shopping trends.

What’s Next?

While brick-and-mortar locations are disappearing, the Quiksilver, Billabong, and Volcom brands will continue under new ownership, offering products online and through select retailers.

Retail experts predict that the action sports industry will continue evolving, with digital sales and direct-to-consumer strategies becoming more dominant in the future.

Key Takeaway: The closure of over 100 Quiksilver, Billabong, and Volcom stores marks the end of an era for surf and skate retail, reflecting the larger challenges facing traditional retail businesses in today’s economy.

Source

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Party City, the iconic U.S. party supply retailer, is shutting down all its stores, ending nearly 40 years of business. CNN reports that the company will wind down operations immediately, marking the end of an era.

CEO’s Heartbreaking Announcement

In a video call with employees, CEO Barry Litwin shared the devastating news, telling staff that today would be their last day of work. The company, which has struggled for months, will not provide severance pay or extend employee benefits as it closes its doors.

“This is, without a doubt, the hardest message I’ve ever had to deliver,” Litwin said, expressing his sorrow over the company’s collapse. Despite Party City’s best efforts, it could not overcome its financial challenges, including soaring inflation and rising operational costs, which ultimately led to a significant decline in consumer spending.

Litwin acknowledged that Party City had fought tirelessly to avoid this outcome, but financial pressures made the winddown process inevitable.

A Long Road to Bankruptcy

The New Jersey-based company had only appointed Litwin as CEO four months ago, with his stated mission to improve Party City’s financial health. In January 2023, the company filed for bankruptcy, burdened by a staggering $1.7 billion in debt. The bankruptcy allowed it to eliminate nearly $1 billion in debt but still left the company with over $800 million to pay off, straining its finances throughout 2024.

Though Party City managed to keep most of its 800+ stores open, it closed more than 80 locations between 2022 and 2024, and its debt continued to weigh on its ability to recover.

A Sudden and Emotional End

The closure announcement shocked Party City employees, many of whom had not been informed of the company’s dire situation. Employees were sent home on December 10, and the corporate headquarters was locked down. Internal communications revealed growing confusion and frustration among staff, particularly after product development teams were abruptly recalled from a vendor trip and sent home.

Several workers expressed anger over the lack of transparency from management, especially after previous town hall meetings that projected optimism about the company’s future. Litwin later apologized for the communication breakdown, acknowledging the company’s failure to adequately inform employees about the impending closure.

Tearful Goodbyes and Hard Realities

Party City’s Chief Human Resources Officer, Karen McGowan, became emotional during the call, visibly shaken as she outlined the termination of benefits and severance for employees. “I certainly know this is a lot to take in,” McGowan said, her voice faltering as she paused to compose herself.

End of an Era for Party City

Once the largest party supply retailer in the U.S., Party City employed over 16,000 full-time and part-time workers in 2021. Known for selling balloons, Halloween costumes, and various party supplies, the company had long faced fierce competition from e-commerce giants, pop-up stores like Spirit Halloween, and large retailers such as Walmart, Amazon, and Costco.

The pandemic and a helium shortage further damaged Party City’s balloon business, adding to the financial strain. As consumer spending tightened in response to rising living costs, Party City became one of the latest casualties in a wave of retail bankruptcies.

Retail Decline Across the Nation

Party City’s closure comes as part of a broader trend of retail store closures in 2024, a year on track to see the highest number of closures since 2020. Just days ago, Big Lots announced it was also going out of business after a failed attempt to secure a rescue deal.

The growing list of retailer bankruptcies highlights the ongoing struggles faced by brick-and-mortar businesses as they navigate rising costs and shifting consumer habits.

Party City’s closure marks a major shift in the landscape of U.S. retail, signaling the end of a popular brand that had become synonymous with celebrations for decades.

Source

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Updated: December 19, 2024 | By Megan Cerullo, Edited by Alain Sherter | CBS News

Big Lots, the well-known discount retailer, announced on Thursday that it will close all its stores nationwide as part of a bankruptcy process. The company plans to launch “going out of business” sales across its 900+ locations to liquidate inventory.

Failed Acquisition and Strategic Alternatives

Big Lots had initially planned to sell its assets to Nexus Capital Management, a private equity firm. However, that deal is no longer expected to materialize. While the company is still exploring other options and negotiating with Nexus, it has decided to move forward with closing its stores.

“We have worked tirelessly to secure a solution for the business,” said CEO Bruce Thorn. “Despite our efforts, we have made the difficult decision to begin the [going out of business] process to preserve the value of the Big Lots estate.”

A Retailer Built for Bargain Hunters

Headquartered in Columbus, Ohio, Big Lots operates more than 900 stores across the United States. Known for offering budget-friendly deals, the retailer sells a variety of products, including furniture, home décor, apparel, health and beauty items, and pantry goods. Its slogan promises “bargains to brag about.”

Bankruptcy and Store Closures

Big Lots filed for bankruptcy protection in September, originally intending to sell its operations to Nexus. Over the past year, the retailer had already announced plans to close hundreds of stores:

• August 2024: Up to 315 store closures planned.
• October 2024: Another 56 locations in 27 states marked for closure.

With the latest announcement, all remaining stores will be shuttered.

Broader Retail Trends in 2024

Big Lots is just one among many retailers struggling in a tough economic climate. According to research firm CoreSight, more than 7,100 U.S. retail locations are set to close by the end of 2024, marking a 69% increase compared to 2023. Additionally, 45 retailers have filed for bankruptcy this year, nearly double the number in 2023.

Other Major Retail Closures in 2024

CoreSight’s report highlights other companies facing significant store closures this year:

• Family Dollar: 677 locations
• CVS Health: 586 locations
• Conn’s: 553 locations
• Rue21: 543 locations
• 7-Eleven: 492 locations
• Rite Aid: 408 locations

Big Lots itself accounts for 580 closures, underscoring the deep challenges facing the retail industry.

A Glimpse at the Future

With the retail landscape shifting due to economic pressures and changing consumer behaviors, Big Lots’ closure adds to a growing list of casualties in 2024. For now, customers can take advantage of the retailer’s final sales as it exits the market entirely.

Source

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Macy’s is accelerating its store closure plans, announcing it will shut down 65 locations this year—an increase from the 50 closures previously scheduled for the fiscal year. This move is part of the company’s larger strategy to eliminate around 150 underperforming stores over the next three years.

The update was shared during Macy’s third-quarter earnings call on Wednesday.

Post-Holiday Closures Expected

“We now expect to close roughly 65 locations this year,” said Macy’s CEO Tony Spring. He added that the closures would occur after the holiday shopping season.

The announcement comes as Macy’s addresses broader challenges within the retail industry, including dwindling mall traffic and rising online shopping trends.

Accounting Scandal Revealed

Macy’s had delayed reporting its third-quarter earnings after uncovering a $151 million accounting error tied to small-package delivery expenses. An independent investigation found that a single employee intentionally falsified accounting records and documentation.

Adrian Mitchell, Macy’s COO and CFO, clarified that the issue did not involve theft and had no impact on revenue, cash flow, or inventory, as all vendors were fully paid. The company is now revamping its financial reporting controls to prevent future issues.

Department Stores Face Industry-Wide Challenges

Macy’s closures reflect broader struggles in the retail sector. With fewer customers visiting physical stores, U.S. retailers have announced over 7,100 store closures by the end of November 2024—a 69% increase compared to the same period last year, according to CoreSight Research.

The number of retail bankruptcies has also surged, with 45 retailers filing for protection in 2024, compared to 25 in 2023.

Largest Retail Store Closures in 2024

The retail chains leading store closures in 2024 include:

• Family Dollar: 677 closures
• CVS Health: 586 closures
• Big Lots: 580 closures
• Conn’s: 553 closures
• Macy’s: 55 closures

Macy’s Strategic Shift

Despite challenges, Macy’s is focusing on growth through its Bloomingdale’s and Bluemercury brands. Over the next three years, the company plans to:

• Open 15 new Bloomingdale’s stores.
• Launch 30 new Bluemercury locations.
• Remodel 30 existing Bluemercury stores.

Stock Performance

Macy’s stock has dropped approximately 20% over the past year, reflecting investor concerns amid the company’s restructuring efforts and broader retail struggles.

Source

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This year’s Black Friday online shopping set a new record, with consumers spending a staggering $10.8 billion, according to Adobe Analytics, which tracks U.S. e-commerce data. This is more than double what was spent in 2017, when online sales totaled just over $5 billion.

The surge in Black Friday sales followed another record: consumers spent $6.1 billion online on Thanksgiving Day itself, marking a nearly 9% increase from the previous year.

What Did People Buy on Black Friday?

Toys were a major driver of Black Friday online sales, with toy purchases soaring by 622% compared to an average day earlier in the fall. Other big categories included jewelry, which rose by 561%, appliances up 476%, apparel up 374%, and electronics up 334%.

Popular toys this year included Harry Potter LEGO sets, “Wicked” toys, card and board games, Disney Princess dolls, and Cookeez Makery oven playsets. Gaming consoles like the PlayStation 5, Xbox Series X, Nintendo Switch OLED, and Meta Quest were also in high demand.

In addition to toys and games, beauty and tech products were big sellers. Makeup and skincare sets, Bluetooth speakers, headphones, smartwatches, perfumes, and espresso machines also saw a boost in sales.

Mobile Shopping on the Rise

More than half of all online sales on Black Friday (about 55%) were made through mobile devices, highlighting a shift toward shopping on smaller screens.

In-Store vs. Online Shopping

While online shopping soared, in-store sales showed a much smaller increase. MasterCard reported that online retail sales grew by 14.6% compared to last year, while in-store sales only rose by 0.7%. Overall, retail sales—including both online and in-store—were up 3.4% this year.

It seems consumers were more inclined to shop from the comfort of their homes than to visit physical stores this Black Friday.

Source

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