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In 1948, John Cotter formed Cotter & Company, a wholesaler that supplied products to hardware stores in the Chicago area. In 1962, after purchasing hardware wholesaler Hibbard, Spencer & Bartlett, which manufactured products under the True Value name, Cotter & Company rebranded as True Value Company. There are now more than 4,500 True Value retail stores worldwide.
Chicago-based True Value hardware files for bankruptcy, agrees to sell to Do it Best
The hardware retailer’s 4,500 member stores are independently owned and will continue day-to-day operations.
https://chicago.suntimes.com/money/2...lls-do-it-best
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CVS Pharmacy was founded in 1963 in Lowell, Massachusetts, as Consumer Value Stores. There are 9,292 CVS Pharmacies in the United States and its territories. Shares of Parent Company CVS Health Corporation closed today at 60.34, a drop of 3.33 (5.23%).
CVS names new CEO in the wake of layoffs and poor stock performance
https://www.cnn.com/2024/10/18/busin...ceo/index.html
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Harold Butler and Richard Jezak founded Danny's Donuts in 1954 in Lakewood, California. The chain quickly expanded and became Danny's Coffee Shops, open 24 hours. In 1969, Danny's was renamed Denny's to avoid confusion with Coffee Dan's, a chain of 24-hour diners in Los Angeles and San Francisco. Shares oif Denny's closed today at 5.47, a drop of 1.17 (17.62%)
Denny's is closing 150 restaurants
https://www.cnn.com/2024/10/22/food/...res/index.html
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Beyond Inc., the parent company of Overstock, Zulily and Bed Bath & Beyond, declared in a filing with the Securities & Exchange Commission that this "reduction in force" will "create a more variable, leverageable cost structure and create a more streamlined organization to align to its asset-light business that supports an affinity and data monetization model with a strong technology focus." Uh, what?
Bed Bath & Beyond parent company to slash workforce by about 20%
https://chainstoreage.com/news-brief...force-about-20
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The fine of 20,000,000,000,000,000,000,000,000,000,000,000 rubles isn't as bad as it sounds. Right now a ruble is equal to $0.0102752. In U.S. dollars, the fine is only $194,643,410,000,000,000,000,000,000,000,000.
Russia fines Google 20,000,000,000,000,000,000,000,000,000,000,000 rubles
https://www.cnn.com/2024/10/31/tech/...sia/index.html
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Alan Stillman opened the first TGI Fridays in 1965 in New York City. At its peak, the chain had 890 locations worldwide – and then came the COVID-19 pandemic.
TGI Fridays files for Chapter 11 bankruptcy protection
https://www.huffpost.com/entry/tgi-f...b0c69b94984627
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Jeffrey Horowitz opened the first Vitamin Shoppe in 1977 in New York City. There are now 696 Vitamin Shoppes in the United States. The company went public in 2009. Shares reached a high of $64.76 in February 2013. In May 2023, when the company went private, shares had fallen to $29.92. In November 2024, we know there are no vitamins that can prevent bankruptcy.
Vitamin Shoppe owner files for bankruptcy
Franchise Group, which also runs Pet Supplies Plus and Buddy's Home Furnishings, will shut down American Freight starting this week.
https://www.retaildive.com/news/vita...-group/731857/
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In 2018, President Trump imposed tariffs of 10% on imported aluminum, 25% on imported steel, 20% on washing machines and 30% on imported solar panels. Trump believed the tariffs would be paid by China and other nations who export goods to the United States. He was wrong. Americans paid these tariffs in the form of dramatically higher prices. Trump, who never admits to being wrong about anything, is planning to impose more tariffs after be assumes the Presidency in January – and, once again, Americans will wind up paying for them.
Retailers are already preparing for Trump’s tariffs that threaten to upend the economy
The Independent, Nov 7 2024
Donald Trump has proposed adding a tariff of 10 to 20 percent on all imports – and a 60 to 100 percent tariff on imports from China. These tariffs would put a significant burden on shoppers, according to National Retail Federation CEO Matthew Shay. "The adoption of across-the-board tariffs on consumer goods and other non-strategic imports amounts to a tax on American families," Shay told Fox Business. "It will drive inflation and price increases and will result in job losses." The tariffs could lead to as much as $7,600 in additional costs annually per household.
https://www.independent.co.uk/news/w...-b2643504.html
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"Daughter, you can have your Galinda doll. I want some of these living dolls on this porn site!"
Mattel says it 'deeply' regrets misprint on 'Wicked' dolls packaging that links to porn site
https://abcnews.go.com/Entertainment...inks-115734922
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A majority of the items sold on Amazon Haul will cost $10 or less. A majority of shoppers will likely refer to those items as "junk." Shares of Amazon closed today at 214.10, a gain of 5.19 (2.48%).
Amazon's new $20 and under store is here top challenge Shein and Temu
https://www.theverge.com/2024/11/13/...rgain-webstore
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In 1932, Arthur Taubman purchased Pep Boys' three Advance variety stores in Virginia. In 1938, the chain began expanding. In 1978, the stores transitioned from selling household goods to selling auto parts.and were renamed Advance Auto. In 1985, the chain became Advance Auto Parts. The company now owns nearly 4,500 stores in the United States, Canada, Puerto Rico, and the Virgin Islands. Shares of Advance Auto Parts closed today at 41.20, a gain of 0.26 (0.64%).
Advance Auto Parts closing more than 700 stores across the US
https://www.wral.com/story/advance-a...e-us/21722692/
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Spirit Airlines, founded in 1983 as Charter One Airlines, is North America's seventh-largest passenger airline. Shares closed today at $1.08, unchanged.
Spirit Airlines files for bankruptcy protection but plans to keep flying
https://www.npr.org/2024/11/18/nx-s1...tcy-protection
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Michael Ingravalio opened Mike's Giant Submarine Shop in 1956 in Point Pleasant, New Jersey. Peter Cancro began working at the sandwich shop in 1971 and purchased it in 1975. He changed the name to Jersey Mike's Subs in 1987 and began offering franchises. Today there are around 3,500 Jersey Mike's worldwide. The company is not publicly traded.
Jersey Mike's sold to private equity firm Blackstone for $8 billion
https://www.nj.com/business/2024/11/...ne-for-8b.html
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AT&T purchased DIRECTV for $48.5 billion in 2015 and sold a 30% stake of the business to private equity firm TPG in 2021. In September 2024, TPG agreed to pay $7.6 billion to acquire AT&T's 70% stake in the company. Also in September 2024, DIRECTV announced plans to acquire Dish Network from EchoStar for $1 and the assumption of $9.8 billion in debt. Dish bondholders rejected the deal, which would have reduced their claims by about $1.5 billion, and now.......
DIRECTV cancels agreement to merge with Dish
https://www.cnn.com/2024/11/22/busin...ntl/index.html
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Stellantis, headquartered in Hoofddorp, The Netherlands, owns Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram Trucks and Vauxhal and, based on sales, is the world's fourth-largest automaker behind Toyota, Volkswagen and Hyundai. Shares of Stellantis are now at 13.20.
Stellantis CEO Carlos Tavares resigns as carmaker continues to struggle with slumping sales
https://apnews.com/article/stellanti...94a7821cb73317
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Before becoming CEO of Subway in November 2019, Chidsey served as CFO of PepsiCo World Trading Company and CEO of Burger King. Subway is a privately held company and is not traded on any stock exchange.
Subway CEO John Chidsey steps down amid a major transition for the sandwich giant
https://www.entrepreneur.com/franchi...e-brand/483636
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In 1865, William Wallace Cargill bought a grain warehouse in Conover, Iowa. The company now operates in 66 countries and produces grain, beef, poultry, cattle feed, palm oil, vegetable oil, salt, glucose syrup and other commodities. In terms of revenue, Cargill is the largest privately-held company in the United States.
Cargill to lay off 8,000 workers amid falling commodity prices
https://www.foxbusiness.com/lifestyl...mmodity-prices
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The Kroger Company, founded in 1883 when Barney Kroger opened a grocery store in Cincinnati, is the United States' largest supermarket operator, with more than 2.700 stores in 35 states and the District of Columbia. Among Kroger's chains are Dillons, Ralphs, Fred Meyer, Smith's, Fry's, QFC, Harris Teeter, King Soopers and Food 4 Less. Albertsons, with nearly 2,400 stores, is the nation's second-largest supermarket operator. Among the company's chains are Vons, Albertsons, Safeway, Shaw's, Balducci's, Randalls, Tom Thumb, Jewel-Osco, Market Street, Acme Markets and Kings Food Markets, Shares of Kroger closed today at 60.73, a gain of 2.96 (5.12%). Shares of Albertsons closed at 18.51, a drop of 0.43 (2.27%).
$24.6 billion Kroger-Albertsons merger blocked by federal court
https://www.9news.com/article/news/n...9-06dea96d4012
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What Albertsons CEO Vivek Sankaran was essentially saying is: "If you won't play ball with me, I'm taking my ball and going home."
Albertsons gives up on Kroger merger and sues the grocery chain for failing to secure deal
https://www.seattletimes.com/busines...o-secure-deal/
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Steve Mandell opened the first Party City store in 1986 in East Hanover, New Jersey. At its peak, the chain had more than 900 locations in the United States, Canada and Mexico. After Party City filed for bankruptcy protection in January 2023 – its share price was 0.10 – trading was halted and its stock was delisted from the New York Stock Exchange.
Party City may file second bankruptcy, close more than 700 stores: Report
https://san.com/cc/party-city-may-fi...stores-report/
