Staff cuts and bankruptcy: 7 things we learned about retail last week

  • Kara Driscoll
  • Staff Writer
7:33 a.m. Tuesday, Jan. 23, 2018 Business
KARA DRISCOLL/STAFF

The retail industry is shaking things up in the first month of 2018.

Gander Mountain reopened some stores under a new name, while Amazon narrowed the list of contenders for its second headquarters in North America. Here’s what happened last week in retail:

1. Gander Mountain stores to reopen under new name

Gander Outdoors, formerly known as Gander Mountain, announced an initial list of retail stores that are scheduled to open in 2018. In early January, Camping World announced it is beginning to reopen many of the Gander Outdoors stores to serve customers. Following months of negotiations and remodeling existing locations, the company plans to open 69 locations by May 2018. READ MORE

2. Amazon raises price of Amazon Prime monthly memberships

Amazon Prime monthly memberships are about to get more expensive.

The online retail giant announced today that the Amazon Prime monthly fee is increasing from $10.99 to $12.99 in the U.S., an increase of 18 percent. That’s approximately $156 annually. However, the annual Prime membership will stay at $99. READ MORE

3. Columbus named finalist for second Amazon headquarters

Amazon has chosen its finalist for its second headquarters in North America. Amazon reviewed 238 proposals from across the U.S., Canada, and Mexico to be the home of its second headquarters in North America. Amazon announced it has chosen the following 20 metropolitan areas to move to the next phase of the process. READ MORE

4. Bankruptcy next? Bon-Ton Stores Inc. enters into forbearance agreement

The Bon-Ton Stores Inc., parent company of Elder-Beerman, has entered into forbearance agreements with its credit lenders. The retailer announced late Tuesday that the company has entered into forbearance agreements with its ABL credit agreement lenders and an ad hoc group of holders. The Forbearance Agreements will expire on Jan. 26, unless further extended by the parties. The forbearance period under the ABL forbearance agreement will be automatically extended to Feb. 4. READ MORE

5. Macy’s ‘fine-tuning’ staffing at some stores

No Macy’s stores will close in the Dayton region in the near future, but staff changes could occur, according to a company spokeswoman.

“We are fine-tuning our staffing needs in some of our smaller stores to better tailor our in-store resources with business needs and expectations, while providing the best possible customer service experience. This includes increasing associates in some areas of store operations and reducing associates in others. We have not provided a breakdown of these changes by store or region,” the Macy’s spokeswoman said. READ MORE

6. Walmart reportedly cutting more than 1,000 jobs

Retail giant Wal-Mart Stores Inc. is reportedly cutting more than 1,000 corporate jobs,.

The Wall Street Journal reported the retailer is cutting jobs at its headquarters, which comes as Walmart announced its store workers will receive raises and bonuses. Walmart employs more than 1.5 million people in the U.S., plans to cut more than 1,000 corporate jobs, people familiar with the matter told The Wall Street Journal. READ MORE

7. Sewing studio to move to new location in Beavercreek

A local sewing studio will move to a new location in Beavercreek by the end of the month.

Needle, Ink and Thread, a local sewing studio, announced it will move by the end of January. A portion of the recently closed Antiques Marketplace of Beavercreek at 3491 Dayton Xenia Road, will be the studio’s new home. Currently located at 4005 Dayton-Xenia Rd, Needle, Ink and Thread was founded just over a year ago by Jesy Anderson, previous co-owner of Sew DaytonREAD MORE

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