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    New York (CNN Business)Wall Street has attacked Kohl's from all directions over the past year. Activist investors have criticized the department store's strategy, blasted its CEO and tried to replace its board of directors.Kohl's (KSS) has beaten them back -- for now.Kohl's said Wednesday that it re-elected all 13 of its board of director nominees at its annual shareholders' meeting, based on a preliminary vote tally. Macellum Advisors, an activist investment firm, had put up its own slate of nominees to replace 10 of Kohl's board members, saying that the company should consider selling itself or spin off its e-commerce arm.The results were a victory for Kohl's current leaders and a defeat for critics who wanted the retailer to pursue a different strategy under new leaders. Read MoreThe department store sector has been under pressure for years, and Wall Street activists targeted Kohl's because its stock and performance has underperformed rivals such as Amazon (AMZN), Target (TGT) and Walmart (WMT)."Investors voting for Kohl's to retain its current directors represents a much-needed confidence boost for Michelle Gass and her management team,"...
    Amazon founder and chairman Jeff Bezos has seen roughly $20 billion wiped off his net worth, as the company's stock heads for its worst day on the markets in eight years.  Shares of Amazon were down 12.6 percent at noon on Friday, to $2,527.64, after the company announced its first quarterly loss since 2015, and slowing sales growth for the first time in 21 years. Bezos owns an 11.1 percent stake in the company, and the vast majority of his fortune consists of Amazon stock, meaning the billionaire suffered huge losses on paper as the shares tanked. At the close of markets on Thursday, Bezos was worth about $169 billion, according to the Bloomberg Billionaires Index, and his $20 billion wipeout on Friday represented about a 12 percent decline in his fortunes. Amazon founder and chairman Jeff Bezos has seen roughly $20 billion wiped off his net worth, as the company's stock heads for its worst day on the markets in eight years Shares of Amazon were down 12.59 percent at noon on Friday, to $2,527.64, after the company announced...
    BURLINGAME, Calif. (KGO) -- Facebook's parent company, Meta is opening its first retail store in a couple of weeks.The store on the company's campus in Burlingame will allow you to checkout and demo some of its products.RELATED: Startup competing with Facebook for 'Meta' trademark will sell for $20M, report saysThat includes virtual reality hardware, as well as Ray-Ban stories which allows you to capture what you see through a pair of glasses.The store opens May 9. If you're on the ABC7 News app, click here to watch live
    Former employees of disgraced retail giant Abercrombie & Fitch have aired new claims about the company's discriminatory hiring practices in a Netflix documentary.  Speaking in White Hot: The Rise & Fall of Abercrombie & Fitch, which was released on the streaming platform last night, former employees claimed they were sidelined from their jobs at the retailer's US stores because of their ethnicity, claims that Abercrombie has denied repeatedly.  White Hot looks into the hiring practices of the company, stemming from former CEO Mikes Jeffries, who took over the company in 1992 and turned it into a retail success story.  The documentary makes the claim that the company was conscious in its efforts to cater only to white people, by keeping good-looking, white 'models' on the shop floor and hiding employees from minority backgrounds in the backroom.  In the documentary, Dr Anthony Ocampo claimed he was unable to get a job at his local store because there were 'already two Filipinos' working there, while Carla Barrientos, a black woman, claimed she was taken off her store's rota after requesting to work...
    NEW YORK (CNN) — Some employees at the Apple store at New York’s Grand Central Terminal are seeking to form a union, the latest high-profile labor organizing effort to take root in the pandemic era. A person familiar with the matter told CNN Business that workers at the Grand Central Apple store have begun collecting signatures to file a petition to unionize, the first step of a union organizing effort. If they file cards from at least 30% of the workers at the store, the National Labor Relations Board can hold an election. READ MORE: San Jose Home Depot Arson Suspect Identified As Dyllin Jaycruz GogueThe employees leading the effort are partnering with Workers United, an affiliate of the Service Employees International Union, and the same union supporting the so-far-successful organizing effort at Starbucks. The Apple employees have dubbed their effort Fruit Stand Workers United. The organizing effort was first reported by the Washington Post. On the group’s website, it says a union is needed because wages have not kept pace with the cost of living in New York City. It said...
    New York (CNN Business)Some employees at the Apple store at New York's Grand Central Terminal are seeking to form a union, the latest high-profile labor organizing effort to take root in the pandemic era.A person familiar with the matter told CNN Business that workers at the Grand Central Apple store have begun collecting signatures to file a petition to unionize, the first step of a union organizing effort. If they file cards from at least 30% of the workers at the store, the National Labor Relations Board can hold an election.The employees leading the effort are partnering with Workers United, an affiliate of the Service Employees International Union, and the same union supporting the so-far-successful organizing effort at Starbucks. The Apple employees have dubbed their effort Fruit Stand Workers United. The organizing effort was first reported by the Washington Post.On the group's website, it says a union is needed because wages have not kept pace with the cost of living in New York City. It said it also wants better job protections for workers.Read More"Apple has grown to be the...
    In this article BYNDBeyond Meat's meatless chicken tendersSource: Beyond MeatBeyond Meat is expanding distribution of its meatless chicken tenders to 8,000 new grocery, pharmacy and big-box retail locations. Customers will now be able to buy Beyond Chicken Tenders at select Albertsons, Sprouts, Whole Foods Market and CVS locations nationwide. All Kroger locations also will carry the item by the end of the month. "From a selling standpoint, wherever our customers have interest in carrying our product, we want it to be available so our consumers can ultimately shop there as well," Beyond's Chief Growth Officer Deanna Jurgens said in an interview. The Beyond Chicken Tenders expansion comes after several quarters of weak retail sales for the company. Consumer demand for its beef and sausage alternatives soared during the early days of the pandemic as restaurant sales plummeted, but those shopping habits have since tailed off. Additionally, the company focused on fast-food partnerships in 2021 over launching new retail products. In the fourth quarter, Beyond's U.S. grocery sales fell about 20% to just shy of $50 million.  The slump in sales...
    Sales of marijuana have reached more than $500,000 in New Mexico within hours of the state's retail launch of the drug. Close to $475,000 from adult-use nonmedical marijuana sold in the state before noon Friday, according to the state's Cannabis Control Division. Roughly $180,000 in medical marijuana was added in additional sales, according to a report. WATCH: FLORIDA TEACHER UPSET HE CAN'T SHARE GAY EXPERIENCES WITH KINDERGARTNERS "New Mexicans turned out today in strong numbers to show their support for high-quality New Mexico products coming to them for the first time," Heather Brewer, a spokeswoman for the CCD, said. "The Cannabis Control Division is excited for all the consumers and all of the businesses that have been part of this historic day," she added. Sales began at midnight April 1, and New Mexico residents were quick to line up. "Breaking ground is something big. You know we’ve all been waiting for this for a long time," Jeremy Sandoval, who waited outside the R. Greenleaf Dispensary in Las Cruces, said. Democratic Gov....
    NEW YORK -- Amazon workers in Staten Island, New York, voted to unionize on Friday, marking the first successful U.S. organizing effort in the retail giant's history and handing an unexpected win to a nascent group that fueled the union drive.Warehouse workers cast 2,654 votes - or about 55% - in favor of a union, giving the fledgling Amazon Labor Union enough support to pull off a victory. According to the National Labor Relations Board, which is overseeing the process, 2,131 workers - or 45% - rejected the union bid.The 67 ballots that were challenged by either Amazon or the ALU were not enough to sway the outcome. Federal labor officials said the results of the count won't be verified until they process any objections - due by April 8 - that both parties may file.The victory was an uphill battle for the independent group, made up of former and current workers who lacked official backing from an established union and were out-gunned by the deep-pocketed retail giant. Despite obstacles, organizers believed their grassroots approach was more relatable to workers...
    A chain of specialty tile and flooring stores has opened a new location on Long Island. Floor & Decor opened its newest location in Nassau County on Monday, March 14, the company announced.  The 75,000 square-foot warehouse store is located at 650 Stewart Ave. in Garden City. The store employs about 50 people and is managed by Chief Executive Merchant Franklin Guardarrama, the company said.  “Floor & Decor is excited to open a store in Garden City,” Guardarrama said in a statement. “We are eager to introduce both Professional customers, as well as Homeowners, to our one-stop solution for their flooring needs with an extensive selection of in-stock, trend-right flooring options. We offer great service and quality flooring at unbeatable prices. With our free design services, we look forward to helping every customer turn their vision into reality.”
    THE beloved Barnes & Noble bookseller is recognised countrywide - with the largest number of retail outlets in the United States. Tracing back to 1873, Barnes & Noble continues to serve over 600 communities in all 50 states. 1Barnes & Noble operates 614 stores nationwideCredit: Alamy Who founded Barnes & Noble? Barnes & Noble's began when Charles M. Barnes started a book business from his home in Wheaton, Illinois in 1973. In 1886, a man named Gilbert Clifford Noble was hired to work at a newly established bookstore called Arthur Hinds & Company in New York City as a clerk. This bookstore became known as Hinds & Noble. In 1917, Noble bought out Hinds and entered into a partnership with William Barnes, son of his old friend Charles Barnes. The name of the store was soon changed to Barnes & Noble. William Barnes divested himself of his ownership interest in his father's business shortly before his partnership with Noble. Most read in US NewsUNDER-COVERS I'm an 'ex-Russian spy and was trained how to seduce men and perform sex acts'BROKEN...
    REI staff at its New York flagship decorated their green vests with pro-union buttons.Ron Adar/ZUMA Fight disinformation. Get a daily recap of the facts that matter. Sign up for the free Mother Jones newsletter.The rock-climbing, canyon-crossing, river-rafting workers at outdoor gear giant REI love a challenge—even when it comes from their bosses. Overcoming stiff corporate opposition and a slick anti-union campaign, staff at the company’s New York flagship store voted Wednesday to unionize by an overwhelming 7-to-1 margin. REI SoHo, the nearly 40,000-square-foot Manhattan store, is the first of the company’s locations to unionize. Eighty-six percent of its 116 staff, from tech specialists to shipping and retail workers, voted to form a new local of the Retail, Wholesale and Department Store Union—the same union that workers at Amazon’s huge Bessemer, Alabama facility are now voting on whether to join. The REI vote follows an expensive, full-bore effort against the union, including an anti-union podcast that drew laughs online for “progressive” flourishes like an Indigenous land acknowledgement and executives’ recitation of pronouns. (REI CEO Eric Artz, who opened with the land...
    (CNN Business)First, Amazon killed traditional bookstores. Then it opened its own. Now, Amazon is doing away with its bookstores. The e-commerce giant confirmed Wednesday that it is closing 68 retail locations, including all of its Amazon (AMZN) Books stores, as part of a broader shift in its bricks-and-mortar retail strategy. In addition to the bookstores, Amazon is also closing two other physical retail concepts: Its "4-star" stores, which sold products that had high customer ratings, and its Pop Up stores. Instead, Amazon said it's planning to "focus more" on other physical retail efforts, including its dedicated stores for groceries, Amazon Fresh and Whole Foods, as well as its recently launched apparel shop, Amazon Style. It will also continue to focus on Amazon Go, its cashierless grocery store concept. "We remain committed to building great, long-term physical retail experiences and technologies, and we're working closely with our affected employees to help them find new roles within Amazon," Betsy Harden, a spokesperson for the company, said in a statement.Read MoreAmazon's first foray into brick-and-mortar retail came in early 2015 with a campus...
    In this article AMZNPeople shop in the newly opened Amazon Books on May 25, 2017 in New York City.Getty ImagesAmazon is shutting down all its Amazon Books physical bookstores, as well as its Amazon 4-star and Amazon Pop Up stores, which sold a variety of electronics and other hot items. The closures affect 68 stores across the U.S. and U.K., Amazon said. Closure dates will vary by location and Amazon will help affected employees find roles elsewhere in the company. Workers who opt not to stay with the company will be given severance, Amazon said. News of the store closures was first reported by Reuters. Amazon has gradually launched an array of brick-and-mortar concepts, from supermarkets to retail stores offering Amazon-branded electronics like Fire tablets and Echo smart speakers. The 4-star stores, in particular, attempted to mesh Amazon's in-store and offline operations by featuring top-selling products in its web store. But Amazon's physical stores unit has noticeably lagged its overall retail business in recent years. Physical stores, which includes Whole Foods and Fresh stores, saw lower sales in 2021 than...
    Plant-based meat company Beyond Meat said Thursday that its sales dropped in the fourth quarter due to weak retail demand. El Segundo, California-based Beyond Meat said its net revenue fell 1.2% to $100.7 million in the October-December period. That was shy of Wall Street’s forecast of $101 million, according to analysts polled by FactSet. Beyond Meat said restaurant sales are showing promise as its products roll out to more locations. Panda Express began selling Beyond Meat orange chicken at 70 U.S. locations in October, for example. But the company said that couldn’t make up for a 19.5% decline in sales at groceries and other retailers. The company reported a net loss of $80.4 million for the quarter. The loss, of $1.27 per share, was also far larger than the 70-cent loss Wall Street was expecting. Beyond Meat shares fell 10% in after-hours trading. Copyright © 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
    Kmart, a once-popular discount chain with more than 2,000 stores throughout the United States, has become the latest victim of the retail apocalypse, with just four stores still in operation.  The once retail giant recently announced that it is closing two more of its locations - leaving just two in New Jersey, one on Long Island, New York, and one in Miami, Florida, according to the Oregonian. The announcement came after decades of the discount retail chain failing to keep up with Walmart and Target's low prices, a problem that was only exacerbated by the rise of the Internet and the store's inability to properly brand itself. It was supposed to be 'so bland that it nobody felt it was uninviting,' said Ben Schultz, a graduate student in public history at the University of Wisconsin in Milwaukee who has been studying the decline of the retail chain. 'It was a place that could be common to everyone.' But 'when they tried to change their image, they didn't have an image.'  Kmart, a once popular discount chain across America, announced recently it...
    By Mark Gurman | Bloomberg Apple Inc. has dropped its mask requirement at most retail stores across the U.S., following reduced Covid-19 cases and changes in local mandates. The iPhone maker also is ramping up for the return of in-store classes. The company announced the changes this week to employees at eligible stores and has updated its website to reflect which locations are no longer requiring masks. Apple, however, will continue to recommend that customers wear masks and will provide them upon request. Apple retail workers will still be required to wear masks, employees say. The change in mask policy applies to stores in states including Ohio, North Carolina, Georgia, Kansas, Kentucky and others that have ended mandates. Customers must wear masks in stores in the few states with stricter guidelines, such as Hawaii. Apple’s locations in New York have also made masks optional for customers who are fully vaccinated. An Apple spokesperson didn’t respond to a request for comment on the changes. Related Articles We tested Apple’s new option to unlock an iPhone while wearing a mask...
    Apple Store employees around the United States are reportedly attempting to unionize as hourly workers grow frustrated with wages and working conditions. According to the Washington Post, Apple employees are using Android smartphones to discuss unionization to avoid potential snooping efforts by their employer. The Washington Post reports that employees at Apple Stores across the U.S. are working to unionize as many complain of low wages and poor working conditions. Groups at two retail stores are reportedly backed by major national unions are planning to file paperwork with the National Labor Relations Board (NLRB) in the future. At least half a dozen locations are at less-advanced states in the unionization process. People walk inside an Apple store in Beijing on October 19, 2020. (GREG BAKER/AFP via Getty Images) © AFP/File Josh Edelson Largely motivated by employee wages that have stagnated in the face of growing inflation and seeing workers at companies like Starbucks successfully unionize, retail workers are hoping to push the world’s most valuable company to improve worker conditions and pay levels. Apple currently has over 500 retail locations worldwide and over 270...