Daughters of Target’s late cofounder raise concern over company’s pullback on DEI efforts

NEW YORK — The daughters of one of the cofounders of Target are expressing their alarm and shock at the discounter’s recent moves to roll back its diversity, equity and inclusion initiatives that have come under attack from conservative activists and of last month, the White House. In letters to the editor published Thursday in […]

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Target is ending DEI goals as workplace inclusion gets strong opponent in White House

NEW YORK — Discount store chain Target said Friday that it would join rival Walmart and a number of other prominent American brands in scaling back diversity, equity and inclusion initiatives that have come under attack from conservative activists and, as of this week, the White House. The Minneapolis-based retailer said the changes to its […]

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Costco defends its diversity policies as other US companies scale theirs back

NEW YORK — Costco is pushing back on a shareholder proposal that urges the wholesale club operator to conduct an evaluation of any business risks posed by its diversity, equity and inclusion practices. Investors were expected to vote on the recommendation during the company’s annual meeting Thursday. The National Center for Public Policy Research, a […]

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The Container Store, buffeted by rough housing market, seeks bankruptcy protection

NEW YORK — The Container Store has filed for bankruptcy protection as the storage and organizational goods retailer with roots dating back to 1978 grapples with mounting losses and cash flow shortages. The Texas company has faced increasing competition from retailers like Target and Walmart at the same time that demand for its goods are […]

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Big Lots conducts going-out-of-business sales after sale of company falls through

NEW YORK — Discount chain Big Lots is conducting going–out-of-business sales at its remaining locations after a sale of the company didn’t materialize. The Columbus, Ohio-based retailer, which sells furniture, home decor and other items, filed for Chapter 11 bankruptcy protection in early September and said private equity firm Nexus Capital Management LP had agreed […]

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Macy’s offers a mixed outlook after reporting third quarter profit and sales declines

NEW YORK — Macy’s reported a decline in profits and sales for its third quarter with many customers of the department store chain continuing to divert spending to basics like groceries amid elevated prices. The company, which also owns upscale Bloomingdale’s and the cosmetics chain Bluemercury, raised its annual sales expectations, but lowered profit projections […]

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Activist investors urge Macy’s to create a real estate unit among other changes to boost stock

NEW YORK — Activist investor Barington Capital Group is calling on department store retailer Macy’s to develop an internal real estate subsidiary, reduce capital expenditures, and explore strategic options for its Bloomingdale’s and Bluemercury chains among other changes to boost its slumping stock, according to its proposal made public Monday. The presentation to Macy’s shareholders […]

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Retailers bank on Black Friday to energize bargain-hungry holiday shoppers

NEW YORK — It’s show time. After weeks of pushing early deals, retailers in the United States and some other countries are promising bigger discounts on Black Friday, the sales event that still reigns as the unofficial kickoff of the holiday shopping season even if it’s lost some luster. Department stores, shopping malls and merchants […]

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Why retailers still see Black Friday as the high point of the holiday shopping season

NEW YORK — After weeks of plugging increasingly inviting discounts, retailers in the United States and several other countries are preparing for prime time: Black Friday, the bargain bonanza that still reigns as the unofficial kickoff of the holiday shopping season even if it’s lost some luster. Department stores, shopping malls and merchants — big […]

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