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J.C. Penney reports hefty 3Q loss

J.C. Penney Co. reported a bigger-than-expected loss in the third quarter on plummeting sales as customers continue to reject its move get rid of blockbuster sales in favor of everyday low pricing.

 

Big stores opening even earlier on Thanksgiving

It used to be just called Thanksgiving. Now the day is increasingly called Black Friday Eve or Black Thursday, as retailers double down on ever-earlier opening hours for the kickoff of the holiday shopping season.

 

Shunning Amazon, Booksellers Resist a Transformation

The 4-Hour Chef

Amazon prides itself on unraveling the established order. This fall, signs of Amazon-inspired disruption are everywhere. There is the slow-motion crackup of electronics showroom Best Buy. There is Amazon’s rumored entry into the wine business, which is already agitating competitors. And there is the merger of Random House and Penguin, an effort to create a mega-publisher sufficiently hefty to negotiate with the retailer on equal terms.

 

Google Planning a Credit Card?

Mobile Payments

The idea behind mobile payments currently holds more appeal than the reality does. Can Google change that? Retailer support for mobile payments is hard to find outside major metropolitan areas, and even then, the gaggle of tap-to-pay options means your favorite NFC-friendly store may not accept your preferred mobile wallet technology. If a new leak proves true, Google may have worked its way around the hurdle, albeit in an NFC-free manner.

 

Newly-Minted Billionaire Is Spinning eBay Scraps Into Gold

Michael Rubin is lucky. And he’s also damned good. Lucky, because eBay approached him last year with a $2.4 billion offer to buy his moneylosing GSI Commerce–which provides Web design, customer service and shipping to big-brand retailers–a 51% premium over the share price. Damned, because Rubin has always played so loose and fast that he’s nearly brought on his own ruin–and stoked the wrath of shareholders. Good, because he has an uncanny eye for undervalued assets and a lifelong talent for turning them into gold.

 

Amazon Launches 'Black Friday' Deals

Amazon launched its Black Friday deals store, joining its rivals who are looking to get an early start on attracting holiday shoppers.

 

Barnes & Noble warns of nationwide card data theft

Barnes & Noble

Barnes & Noble, the country’s largest bookseller, said data thieves hacked into payment devices at 63 of its stores nationwide and may have stolen credit and debit card information from customers.

 

Retail sales point to stronger third-quarter consumer spending

Retail Sales

U.S. retail sales rose in September as Americans bought more cars and gasoline, while a gauge of consumer spending pointed to stronger-than-expected economic growth in the third quarter.

 

Walmart strikes spread to more states

For the second time in five days – and also the second time in Walmart’s five decades – workers at multiple U.S. Walmart stores are on strike. This morning, workers walked off the job at stores in Dallas, Texas; Miami, Florida; Seattle, Washington; Laurel, Maryland; and Northern, Central, and Southern California. No end date has been announced; some plan to remain on strike at least through tomorrow, when they’ll join other Walmart workers for a demonstration outside the company’s annual investor meeting in Bentonville, Arkansas. Today’s is the latest in a wave of Walmart supply chain strikes without precedent in the United States: From shrimp workers in Louisiana, to warehouse workers in California and Illinois, to Walmart store employees in five states.

 

Best Buy to match some rivals' online pricing

Best Buy said Friday that it has authorized its store staffers to match online prices of competitors in some cases, as it beefs up service offerings as the all-important holiday season kicks off.

 

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