5 MUST-READ retail stories from last week

  • Kara Driscoll
  • Staff Writer
1:20 p.m Monday, March 5, 2018 Business

1. JC Penney cuts 360 jobs in stores, corporate headquarters

J.C. Penney will cut approximately 360 jobs along with shaking up its leadership team at corporate headquarters.

The company confirmed it was reducing its staff at headquarters in Plano, Texas. The company reported disappointing fourth-quarter earnings on Friday, and will eliminate 230 positions from stores and another 130 at headquarters. READ MORE

2. After Florida school shooting, retailers weigh in on gun control debate

As retailers take a stance on gun control after a mass shooting that killed 17 people in Parkland, Florida, gun owners said they’ll boycott the stores.

Dick’s Sporting Goods, which owns Field & Stream, announced it would no longer sell assault-style rifles, also referred to as modern sporting rifles. Company officials said they already removed them from all Dick’s stores after the Sandy Hook massacre, but they will now remove them from all 35 Field & Stream stores. READ MORE

3. Physical therapy company opens near Dayton Mall

Athletico Physical Therapy opened for business last week in front of Bargain Hunt in Miami Twp.

The physical therapy company occupies 3,200 square feet in the SF North Building, according to Sean Sullivan of Town Center Company. Athletico, located at 8316 Springboro Pike, provides services including physical therapy, vestibular rehabilitation, a program to treat ACL injuries and more. The chain also has locations in Dayton, Kettering, Middletown, St. Mary’s, Columbus, Toledo and West Chester. READ MORE

4. No need to leave the house. Subscription boxes disrupting retail industry

It’s the ultimate model for a consumer base obsessed with convenience — companies are mailing pre-packed boxes of products ranging from healthy foods to upscale cosmetics. The growing subscription box market draws in about 5.7 million customers, according to a 2017 Hitwise report. READ MORE

5. Macy’s details 2017 earnings report. Will more stores close?

Sales in fiscal 2017 totaled nearly $25 billion, down 3.7 percent from total sales of nearly $26 billion in fiscal 2016. Comparable sales on an owned basis declined 2.2 percent in fiscal 2017. However, sales in the fourth quarter of 2017 totaled $8.6 billion, an increase of 1.8 percent. READ MORE


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