Struggling retailers may not survive the next recession

With the possibility of a recession looming in the U.S. in the next two years many question whether retailers that have just gotten by or struggled during good times will be able to survive an economic downturn. “If there’s another recession — and I think there will be soon — everyone gets knocked down,” Mark…

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Nordstrom cuts costs, delivers better than expected earnings

Nordstrom beat Wall Street’s earnings expectations after cutting costs and excess inventory levels. The retailer’s net earnings for the second quarter came in at 90 cents per share, ahead of the consensus of 75 cents. Nordstrom reported that net sales fell about two percent as the company’s namesake and Rack stores posted declines. Digital sales…

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Weedmaps promises to axe illegal pot shops

Weedmaps, a directory of medical marijuana dispensaries and stores selling cannabis products for recreational use, announced it would no longer accept advertising from unlicensed businesses. The company has faced pressure from licensed businesses and state regulators to ban unlawful operators from advertising on the platform. “That is a huge win,” Ryan Kunkel, whose Have A…

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Target posts traffic and sales gains

Customer traffic to Target stores rose 2.4 percent in the second quarter as more customers took advantage of its in-store and curbside pickup programs. The retailer posted a 3.4 percent gain in same-store sales with an assist from the chain’s digital business, which was up 34 percent for the period.

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ThredUP bags $175M in funding

ThredUP is having a couple of good weeks. The company, which sells second-hand clothing, announced pilot programs to sell its goods in J.C. Penney and Macy’s last week. Now, it’s reporting that it picked up 175 million in funding for its future expansion efforts, which include more partnerships like those announced last week.

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