Sears Files For BankruptcySears says it will "close 142 unprofitable stores near the end of the year. Liquidation sales at these stores are expected to begin shortly. This is in addition to the previously announced closure of 46 unprofitable stores that is expected to be completed by November 2018."
JCPenney Offering Random $5K Prize Packages, Vacations In Holiday Hiring PushThe unemployment rate is now at 3.7 percent, the lowest rate since December 1969. While that could mean higher wages for workers, that means a smaller labor pool for retailers like JCPenney and UPS, who are both ramping up their holiday hiring.
6.5 Million Pounds Of Beef Recalled Due To Possible Salmonella ContaminationAn Arizona-based plant is recalling more than 6.5 million pounds of various raw, non-intact beef products that may be contaminated with Salmonella.
Investors Who Shut Down Toys 'R' Us Now Planning To Revive The BrandThe group now believes that it stands a better chance of a realizing a return on its investment by potentially reviving the toy chain, rather than selling it off for parts.
California Passes Net Neutrality Law As Justice Department Says They're SuingBarbara van Schewick, a professor at Stanford Law School, says the California bill is on solid legal ground and that California is within its legal rights.
Amazon Investigates Claims That Employee Sold Confidential DataBrokers for Amazon employees in the southern Chinese city of Shenzhen offered internal sales metrics and reviewer email addresses to independent sellers for payments of between $80 and $2,000, according to the Wall Street Journal.
235,000 Hair Dryers Recalled Due To Burn RiskThe recall of Allure and Allure Pro 2200W hand-held hair dryers comes after its New York distributor, Xtava, received 193 reports of the products or their power cords overheating, melting, exploding or catching fire.
Rite Aid Shareholders Scuttle Deal To Merge With Albertson'sOne of Rite Aid's biggest shareholders, Highfields Capital Management, said that deal was "in the best interests of Albertson's and Rite Aid management, but not Rite Aid shareholders."