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Retail stocks hit decade lows on the heels of Macy's dismal earnings - CNBC |
- Retail stocks hit decade lows on the heels of Macy's dismal earnings - CNBC
- Tack Boutique closes shop - West Orange Times & Windermere Observer
- Varsity Bike Closing After 24 Years In Dinkytown - WCCO | CBS Minnesota
- Things to do in Des Moines - The Washington Post
- Jordyn Woods' Cryptic New Tattoo Seemingly References Cheating Scandal - PopCulture.com
- Two Turtles pet store, Akron neighborhood mainstay, to close - Akron Beacon Journal
- 20 Best Fall Getaways 2019 — Fall Weekend Getaways Near Me - countryliving.com
| Retail stocks hit decade lows on the heels of Macy's dismal earnings - CNBC Posted: 14 Aug 2019 05:33 AM PDT Shares of department stores Nordstrom, Kohl's, Dilliard's, and J.C. Penney tanked Wednesday after Macy's lowered its profit outlook in an earnings miss that underlined challenges in the retail sector. Macy's shares closed Wednesday down 13%, while Nordstrom and Kohl's skidded 10%, J.C. Penney dropped nearly 5% and Dilliard's was less than 2% lower. Macy's fell to its lowest level since February 2010, while Nordstrom's low was its worst since July 2009. Outside the department store sector, declines were also severe. Shares of Gap fell nearly 8%, hitting its lowest level since October 2011. Victoria's Secret-owner L Brands sank 8%, its worst performance since February 2010. The S&P Retail ETF (XRT) sank nearly 4%, to its lowest level in two years. The decline in retail stocks happened against the backdrop of a broader market sell-off with the Dow Jones Industrial Average tanking 800 points in its worst day of the year. The plunge in stocks was sparked by investor worries about an inversion in bond market yields, which has been known to indicate a coming recession. In its earnings report, Macy's said excess inventory during the spring season forced the company to cut prices in order to move merchandise, which weighed on profits. The company is now expecting to earn between $2.85 and $3.05 a share this fiscal year, down from a range of $3.05 to $3.25. On Wednesday, J.P. Morgan downgraded shares of the department store to underweight from neutral, lowering its price target to $16 from $22. The stock closed at a little lower than $17. The retail sector has been under pressure as annual sales at U.S department stores fell 20% from 2017 to 2018 and are on pace to drop even further this year, according to the U.S. Census Bureau. More and more shoppers are steering clear of shopping malls and instead turning to online platforms like Amazon, Stitch Fix, Net-a-Porter and Gilt to shop. Department stores are also struggling as more of the brands that sell within their stores, like Nike and Coach, are investing in selling as much directly to consumers as they can. Department store operators also continue to deal with the threat of additional tariffs on consumer goods, like apparel and footwear, going into effect later this year. The fallout from these headwinds has been clear: Luxury chain Barneys New York filed for bankruptcy earlier this month, while Penney announced it was working with restructuring advisors to lessen its debt. It has been a bad year for department store stocks in general, with shares of Macy's and Nordstrom both down more than 40% since the start of the year. –CNBC's Lauren Thomas contributed to this report.  |
| Tack Boutique closes shop - West Orange Times & Windermere Observer Posted: 14 Aug 2019 09:18 AM PDT  For eight years, Tack Boutique was the equestrian center of downtown Winter Garden, with its offerings of riding outfits and accessories and horse-themed décor. Nora Farrell has owned and operated her business at 21 S. Main St. since its opening in June 2011. Prior to that, she ran it as a mobile store for a year, attending horse shows and visiting barns to sell her merchandise. Farrell retired and closed her doors permanently July 31, and it was a bittersweet day for the shop owner. Many of her customers became her friends, and she said she will miss the regular visits and conversations. "I appreciate my loyal customers so much, and I loved getting to know them all and developing relationships with my customers," Farrell said. "That was a really great part of my job, part of the business." Much of her business came from repeat customers, who frequented the store to buy products for themselves as well as gifts for friends and family. "That was the thing about being downtown," she said. "I had people come in all the time." Farrell said it was fun to see who was going to walk in the door next because she had customers from all over the world. Although she was located on one of downtown's side streets, people acknowledged her sign outside and ventured in. Her best sellers were the starter packs for new riders. Now that she has closed her brick-and-mortar business, Farrell said she is considering setting up an eBay account or selling merchandise to other stores. "It was just a personal decision (to close)," Farrell said. "My mom is 89; my sister just moved down here. I wanted more time to just spend with my family. (My husband) Nick travels a lot; I might get to travel some with him." Most days, it was Farrell behind the cash register; she had only occasional part-time help plus assistance from her husband and three children. "People don't realize it's 24/7 when you own your own business, and I was just tired," she said. "(On) the business side of it, I think I plateaued. I never got to the next level where I could hire another person." Farrell might have closed her shop, but she has no intentions of leaving the equestrian world. "I've been connected to it for my whole life," she said. "I'm not hanging up my boots or anything like that. I'm hoping to get back into riding because I really haven't been on a horse in a few years." She said she would like to spend some time volunteering at local therapeutic horseback-riding organizations, such as Freedom Ride Inc., and those with animal therapy programs, such as Soul Haven Ranch. She admits she doesn't plan to stay retired forever and would be happy working again, hopefully in the horse industry. But for now, she is OK with giving up her storefront and stressing less about the issues that come with business ownership. "It was my home for eight years," Farrell said. "I will miss it, but I'm happy to not have to be here all day every day. It's just time for someone else to take the reins, so to speak."  |
| Varsity Bike Closing After 24 Years In Dinkytown - WCCO | CBS Minnesota Posted: 14 Aug 2019 10:33 AM PDT  MINNEAPOLIS (WCCO) — The owner of Dinkytown's Varsity Bike & Transit announced Wednesday the shop will close at the end of September. Rob DeHoff, owner of the 24-year-old business, said he's closing because online retailers are making it more difficult to run a brick and mortar store and he's ready to go in a different direction. "I am sad to announce that Varsity Bike will be closing the end of September," DeHoff said in a statement. "I really appreciate all of the support of the 24 years that we have been open. It has been a joy for me and I will miss the store and interaction with all of you greatly." A liquidation sale is going on now, with 10% off bikes and 20% off parts and accessories. DeHoff also says he'll throw a "goodbye party" Saturday, Sept. 14 from "noon until dark."  |
| Things to do in Des Moines - The Washington Post Posted: 14 Aug 2019 09:17 AM PDT I didn't exactly go to Des Moines expecting corn fields, but I didn't want to miss them, either. One night in the capital city this summer, I drove 30 minutes northeast of Des Moines and joined a weekly bike ride in the rural town of Maxwell . Our small group pedaled along quiet farm roads, past corn and soybean fields and over idyllic rolling hills, just as I had pictured. A small plane buzzed overhead, playfully looping and rolling, and I slowed to see grazing cows and a small cemetery. We finished our ride as the fiery sun set. Only then was I ready for the big city. Des Moines, or DSM to locals, is a laid-back, easily navigable city with an impressive network of bike trails, one of the most beautiful and interesting capitol buildings I've toured and an emerging food and cocktail scene. Locals I met were kind and welcoming, probably more informed about presidential candidates than many of my D.C. neighbors and proud to host the country's first caucuses during election season. Next year, the city will unveil the largest skate park in the country (with an 80-foot-long, totally skatable "WOW" sculpture) and host its first Ironman competition. It also plans to create a white-water destination on the river with a surfing simulator for extreme paddlers. Des Moines is on the move. Go now, while it still enjoys the charms and convenience of a small town. Go before winter hits. Go while there's still corn. You're going where?A monthly series highlighting the best vacation destinations you've probably never considered. Other locations include: Greenville, S.C., Boise and Eugene. Key:
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| Jordyn Woods' Cryptic New Tattoo Seemingly References Cheating Scandal - PopCulture.com Posted: 14 Aug 2019 06:16 AM PDT Jordyn Woods has some brand new ink, and it seemingly references the difficult six months she's had in wake of the Tristan Thompson cheating scandal. The former Keeping Up With the Kardashians star showed off a new tattoo on her left forearm on Monday at the UOMA Summer House party in Los Angeles.  Written in small script across her arm, the tattoo reads, "What's meant for me will never miss me." The words are an excerpt from a quote attributed to writer, theologian and scholar Al-Shafi'i: "My heart is at ease knowing that what was meant for me will never miss me, and that what misses me was never meant for me." Woods, 21, got the new ink on Wednesday, Aug. 7, at her brother Joshua's tattoo shop in Los Angeles. After leaving the shop with her left forearm bandaged, Woods shared a glimpse at the tattoo on her Instagram Stories. The quote could easily sum up Woods' feelings about her time in the headlines after she was caught making out with Khloé Kardashian's boyfriend at the time, Tristan Thompson, with whom Kardashian shares 16-month-old daughter True. In the wake of the scandal, Kardashian, 35, split with Thompson, 28. Jenner, 22, cut ties with Woods, who at the time of the scandal was best friends with and even lived with Jenner. Woods moved out of Jenner's mansion days after the scandal broke and recently spoke out about their estranged relationship these days. "I hope everything falls into place and that we can all grow and build our relationships with our family and God and come back together one day and be stronger and happier," she told Cosmopolitan UK in July. "A lot of people can be around when things are good, but you don't know who's really around until things are bad." Meanwhile, Jenner reportedly "won't talk trash" on Woods, a source told Us Weekly this month. "None of the Kardashian/Jenners are speaking to Jordyn, but Kylie still won't trash talk Jordyn," the source said. "She doesn't wish her ill will." In an episode of Keeping Up With the Kardashians in June, Jenner criticized sister Kim Kardashian for bullying Woods online after the scandal unfolded and Kim had posted videos of herself singing along to songs that referenced cheating. "I just feel like we're bigger than this, we're better than this. I feel like, call her or talk to her in person," Jenner told her sister. "We just don't need to bully anyone." 0commentsUp until recently, Jenner was the only member of the famous family who still followed Woods on Instagram, though she unfollowed the model in late July after Woods was seen hanging out with Kardashian's ex-boyfriend James Harden. Photo credit: Frazer Harrison / Staff / Getty  |
| Two Turtles pet store, Akron neighborhood mainstay, to close - Akron Beacon Journal Posted: 14 Aug 2019 03:25 PM PDT The Two Turtles tropical fish store, a mainstay of Akron's Highland Square neighborhood, is closing after 36 years. Akron husband-and-wife owners Rick Johnson and Mary Kay Roediger are retiring, and selling off remaining fish, reptiles and hard goods, such as filters and aquariums at discounted prices — 30 to 40 percent off — beginning Friday. They'll shut down the shop at 760 W. Market St. on Sept. 15. The business — nestled in a small strip plaza — has carried on despite the rise in chain pet stores and online retailers who weren't even on the scene in 1983, the shop's founding year. A key to the store's success has been its focus on hard-to-find fish, Johnson said Wednesday, standing in the store that houses dozens of tanks containing everything from iridescent sharks — a species of shark catfish — to gold fish. "We used to sell so much dog food … we brought Iams here" to the area, Johnson said, referring to the popular dog food. While the store has faced increased competition, the couple is getting out of the business because they've had enough of long hours, little free time and cleaning fish tanks. "Thirty-six years is a long run for any job," Johnson, 69, said. "My father worked at B.F. Goodrich [as a factory worker] and he worked 30 years" and then retired. "When you're doing retail, you're always working," Roediger, 62, said. "Now is a good time to retire," she said, explaining that she and her husband are excited about spending more time traveling with their 5-year-old granddaughter, Estella Johnson, who starts kindergarten soon. The couple plans to watch her after school. Wednesday morning Estella was at the shop, where she visits frequently. Carrying a plastic cage containing her crickets, Estella walked around and greeted people. "Are you giving them a tour?" Roediger asked Estella, who had struck up a conversation with a few customers. Efforts to sell the business were stymied by the fact that the Two Turtles' lease is up. Some people are daunted by the amount of work the shop requires, Roediger said. "It's a very demanding job," she said. "You have to have knowledge about [fish] husbandry... It's cleaning fish tanks every day. It's a little intimidating." It's been years since the shop sold cats, as well as other mammals, such as guinea pigs. The couple would take in stray cats, get their initial shots and then sell them. This was before many of the rescue organizations in the area began. "Thank goodness they did," Roediger said. The couple met while working for a tropical fish distribution business outside Cleveland. Johnson, a tropical fish enthusiast, worked in the "fish room," caring for the fish and selling them — via telephone — to pet stores. Roediger sold hard goods — such as filters and aquariums — and packed orders. "We got our background there, and then decided to borrow the money and open our shop," Roediger said. They named the place Two Turtles after their two tortoises that used to wander around the shop. After one of them was stolen, they sold the other one. "We had two sons and they kind of grew up here," helping out in the store when they were old enough, Roediger said. "I have so many good memories working here." The sons returned to working in the store after college, before deciding to "do their own thing," Roediger said. Son Jesse Johnson, works with computers, and son Jamie Johnson, is in customer service. Roediger said she's proud the store was a source of employment for so many years. Nicholas Heim, a 21-year-old University of Akron student, was a customer first and then an employee. He heard about the shop from an employee of a chain pet store who told him it was a place to find "the hard-to-find fish." "I'll definitely miss working here," he said. "l'll definitely have to go farther to find more fish." Contact Katie Byard at 330-996-3781 or kbyard@thebeaconjournal.com. Follow her @KatieByardABJ on Twitter or on Facebook.  |
| 20 Best Fall Getaways 2019 — Fall Weekend Getaways Near Me - countryliving.com Posted: 14 Aug 2019 12:07 PM PDT  DenisTangneyJr Fall is the ideal season to escape the day-to-day hustle and bustle of everyday life for a fun getaway. In between back-to-school activities, Halloween parties, planning holiday menus, and tailgating and cheering on your favorite team, it's important to take a little "me" time. The weather is perfection—things have finally cooled off but it's not too cold yet—so you actually want to spend time outside again! Make it count with a weekend of exploration. Many of the hottest (in every way!) summer spots are far less crowded this time of year, and sometimes you can get even get special off-season rates. So pack up the kids for a family-friendly trip, or leave them at home and take that special someone on a romantic weekend that will leave you recharged. After all, it doesn't need to be summer to warrant an epic vacation to Niagara Falls or the relaxing fall weekend in scenic Michigan. We've got you covered on all the best fall getaways, whether you're looking for the best fall foliage, a tiny town in your state, the top pumpkin patch picks, or even a scenic train ride. Consider this your fall trip bucket list. All that's left to do is pack your bags, load up a playlist, and hit the road. You won't regret it. Advertisement - Continue Reading Below Advertisement - Continue Reading Below  |
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