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831 stores now open
Judge Jones just said close to 300 folks tied into hearing.
ND9
Today's agenda just posted
https://cases.primeclerk.com/JCPenney/Home-DocketInfo
Judge's calendar has not changed:
07/01/2020
Date Time Docket No. Inst No. Party Hearing Type
07/01/2020 01:00 20-20182-11 686 J. C. Penney Company, Inc.
The Official Committee of Unsecured Creditors Complex Case Setting
07/01/2020 01:30 20-20182-11 J. C. Penney Company, Inc.
The Official Committee of Unsecured Creditors Hearing
I think Reset is only for part of today's Hearing.
NOTICE OF RESET HEARING
PLEASE TAKE NOTICE that on June 3, 2020, the Debtors filed their Motion for Entry
of an Order (I) Establishing Procedures for Interim Compensation and Reimbursement of
Expenses for Professionals, and (II) Granting Related Relief [ECF No. 495] (the “Interim Comp
Motion”).
PLEASE TAKE FURTHER NOTICE that the hearing on the Interim Comp Motion
previously scheduled for July 1, 2020 at 1:00 p.m. (prevailing Central Time) has been reset to
July 8, 2020 at 3:30 p.m. (prevailing Central Time) before David R. Jones, Unites States
Bankruptcy Judge, in Room 400 of the United Stated Bankruptcy Court, 515 Rusk Street Houston,
TX 77002.
Nope, it is just the opposite.... the Fed is buying up everything they can.. so the FDIC is trying close out receiverships now, not delay them..
Simon Property resumes payouts, trims quarterly dividend to $1.30
Jun. 29, 2020 4:14 PM ET|
About: Simon Property Group, Inc. (SPG)|By: Jignesh Mehta, SA News Editor
Simon Property (NYSE:SPG) declares $1.30/share quarterly dividend, -38.1% decrease from last paid dividend (February) of $2.10
Forward yield 7.64%
Payable July 24; for shareholders of record July 10; ex-div July 9.
The Company expects to pay at least $6.00/share in common stock dividends for 2020. It's reopened 199 out of its 204 U.S. retail properties across 37 states.
With $2.10 paid in February, and $1.30 now, $6 for the year means two more $1.30 payouts. On last quarter's earnings call, CEO David Simon had promised his company would not be one of those cutting the dividend by 50% or more. He's delivering so far.
Shares are up 5% in after hours action, following a 10% gain during the regular session.
See SPG Dividend Scorecard, Yield Chart, & Dividend Growth.
https://seekingalpha.com/news/3587093-simon-property-resumes-payouts-trims-quarterly-dividend-to-1_30
Is the Libor Litigation now settled? See 6/26 court docs.
Thanks to Newtogame for posting.
********************
In Re: Libor-Based Financial Instruments Antitrust Litigation
Friday, June 26, 2020
3120 misc Stipulation of Voluntary Dismissal Fri 06/26 4:18 PM
STIPULATION OF VOLUNTARY DISMISSAL It is hereby stipulated and agreed by and between the parties and/or their respective counsel(s) that the above-captioned action is voluntarily dismissed, against the defendant(s) Bank of America, N.A., Barclays Bank Plc,, Bear Stearns Capital Markets, Inc., Citibank, N.A., Citigroup Financial Products, Inc., Citigroup, Inc., Deutsche Bank AG, J.P. Morgan Bank Dublin PLC, J.P. Morgan Markets Ltd., JPMorgan Chase Bank, N.A., Merrill Lynch & Co., Merrill Lynch Capital Services, Inc., Merrill Lynch International Bank Ltd., UBS AG, Bank of America, N.A., Barclays Bank plc, Citibank, N.A., J.P. Morgan Bank Dublin PLC, Merrill Lynch & Co., Merrill Lynch Capital Services, Inc., Merrill Lynch International Bank, Ltd., UBS AG pursuant to Rule 41(a)(1)(A)(ii) of the Federal Rules of Civil Procedure. Document filed by FDIC, as receiver, Federal Deposit Insurance, The Federal Deposit Insurance Corporation as Receiver. Proposed document to be reviewed and processed by Clerk's Office staff (No action required by chambers). .Filed In Associated Cases: 1:11-md-02262-NRB, 1:14-cv-01757-NRB.(Martin, James)
3119 notice Notice of Voluntary Dismissal Fri 06/26 4:08 PM
NOTICE OF VOLUNTARY DISMISSAL pursuant to Rule 41(a)(1)(A)(i) of the Federal Rules of Civil Procedure, the plaintiff(s) and or their counsel(s), hereby give notice that the above-captioned action is voluntarily dismissed, against the defendant(s) BBA Enterprises Ltd., BBA Trent Ltd. (F.K.A. BBA LIBOR, Ltd.), Bank of America Corporation, Bank of Scotland plc, British Bankers' Association, COPERATIEVE RABOBANK UA (F.K.A. COPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK, B.A.), Credit Suisse AG, Credit Suisse International, Creidt Suisse Group AG, HSBC Bank Plc., HSBC Bank USA, N.A., JP Morgan Chase & Co., Lloyds Bank plc (F.K.A. Lloyds TSB Bank plc), Lloyds Banking Group plc, Merrill Lynch International, Portigon AG, Royal Bank of Canada, Societe Generale, The Bank of Tokyo-Mitsubishi UFJ Ltd., The HongKong and Shanghai Banking Corporation Ltd., The Norinchukin Bank, The Royal Bank of Scotland plc, BBA Enterprises, Ltd., Bank Of America Corporation, Cooperatieve Rabobank U.A., JPMorgan Chase & Co, Lloyds Bank plc, Royal Bank of Canada, The Bank of Tokyo Mitsubishi UFJ Ltd., The Hongkong and Shanghai Banking Corporation, Ltd.. Document filed by FDIC, as receiver, Federal Deposit Insurance, The Federal Deposit Insurance Corporation as Receiver. Proposed document to be reviewed and processed by Clerk's Office staff (No action required by chambers). . Filed In Associated Cases: 1:11-md-02262-NRB, 1:14-cv-01757-NRB.(Martin, James)
3118 misc Stipulation of Voluntary Dismissal Fri 06/26 3:55 PM
STIPULATION OF VOLUNTARY DISMISSAL It is hereby stipulated and agreed by and between the parties and/or their respective counsel(s) that the above-captioned action is voluntarily dismissed, against the defendant(s) Citibank, N.A. pursuant to Rule 41(a)(1)(A)(ii) of the Federal Rules of Civil Procedure. Document filed by Federal Deposit Insurance Corporation, FDIC, as receiver, Federal Deposit Insurance, The Federal Deposit Insurance Corporation as Receiver. Proposed document to be reviewed and processed by Clerk's Office staff (No action required by chambers). .Filed In Associated Cases: 1:11-md-02262-NRB, 1:18-cv-01540-NRB.(Martin, James)
3117 notice Notice of Voluntary Dismissal Fri 06/26 3:51 PM
NOTICE OF VOLUNTARY DISMISSAL pursuant to Rule 41(a)(1)(A)(i) of the Federal Rules of Civil Procedure, the plaintiff(s) and or their counsel(s), hereby give notice that the above-captioned action is voluntarily dismissed, without prejudice against the defendant(s) BBA Enterprises Ltd., BBA Trent LTD., Bank of America, N.A., Bank of Scotland PLC, Barclays Bank PLC, British Bankers' Association, Cooperatieve Rabobank UA, Credit Suisse AG, Credit Suisse International, Deutsche Bank AG, HSBC Bank PLC, JPMorgan Chase Bank, N.A., Lloyds Banking Group PLC, Portigon AG, Royal Bank of Canada, Societe Generale, The Bank of Tokyo-Mitsubishi UFJ Ltd., The Norinchukin Bank, The Royal Bank of Scotland PLC, UBS AG, BBA Enterprises, Ltd., Bank of America, N.A., Barclays Bank plc, British Bankers Association, Cooperatieve Rabobank U.A., Credit Suisse AG, DB Group Services (UK) Limited, HSBC Bank plc, J.P. Morgan Chase Bank, N.A., Lloyds Bank PLC (formerly known as Lloyds TSB Bank PLC), Norinchukin Bank, Royal Bank of Canada, The Bank of Tokyo Mitsubishi UFJ Ltd., The Royal Bank of Scotland Group plc, UBS AG. Document filed by Federal Deposit Insurance Corporation, FDIC, as receiver, Federal Deposit Insurance, The Federal Deposit Insurance Corporation as Receiver. Proposed document to be reviewed and processed by Clerk's Office staff (No action required by chambers). . Filed In Associated Cases: 1:11-md-02262-NRB, 1:18-cv-01540-NRB.(Martin, James)
https://www.pacermonitor.com/public/case/684995/In_Re_LiborBased_Financial_Instruments_Antitrust_Litigation
Thanks Newtogame!
Newtogame, thanks for posting. I don't suppose you could provide a link? I've been searching but so far, no luck in finding what you posted. That material is very interesting...
thanks again,
ND9
Anyone believe shareholders will not survive should sell everything they have and not be posting on this message board. That's easy.
Yeah, similar to stock certificates in bill gates drawer..
Cushman & Wakefield’s resident retail experts Ben Conwell
(eCommerce) and Garrick Brown (Bricks and Mortar) share their
perspective on Amazon’s recent acquisition of Whole Foods.
http://www.cwretailinvestmentadvisors.com/wp-content/uploads/2016/11/eCommerce-MarketNote-Perspective-2.pdf
Large Green, look at these articles... all focused on "the last mile" and or "brick and mortar working with e-commerce", etc...
ND9
".. positives for a legacy physical retailer to partner with Amazon,” said Ben Conwell, senior managing director and practice leader of Cushman & Wakefield’s commerce advisory group."
Physical stores piggyback on Amazon’s success
By Beth Mattson-Teig
Contributor, Shopping Centers Today
https://www.icsc.com/news-and-views/icsc-exchange/physical-stores-piggyback-on-amazons-success
Final Delivery: The Last Mile.. author Cushman & Wakefield
ULI Fall Meeting: E-Commerce Session
• Curtis Spencer, IMS Worldwide Inc.
• Chris Caton, Prologis
• Ben Conwell, Cushman Wakefield
http://uli.org/wp-content/uploads/ULI-Documents/Caton_FinalDelivery.pdf
What is “Last Mile Logistics?” author.. Cushman & Wakefield
Timur Tecimer Overton Moore Properties
Rick Kolpa Prologis
Pat Ryan Cabot Properties
Ben Conwell Cushman & Wakefield
https://s3.amazonaws.com/archive.uli.org/fallmeeting2017/ThursdayOct26/Last+Mile+Logisitics+-+ULI+Panel+-+Conwell+-+slides+10-25-17+FINAL.pdf
Q&A with Cushman & Wakefield’s Ben Conwell: Retail’s Not a Zero Sum Game, DTC, Digital Natives to Physical Stores
May 11, 2018
By Dennis Kaiser
https://www.connect.media/qa-with-cushman-wakefields-ben-conwell-retails-not-a-zero-sum-game-dtc-digital-natives-to-physical-stores/
Cushman & Wakefield Director previously was Amazon's Real Estate Head
**********************
Former Amazon Real Estate Chief On How Retailers Can ...www.bisnow.com › national › news › retail › how-retai...
Mar 19, 2017 - Cushman & Wakefield e-commerce director Ben Conwell, previously Amazon's real estate head, sees many new trends as retailers compete
Former Amazon Real Estate Chief On How Retailers Can Compete With Amazon's 'Get Out Of Jail Free Card' Bisnow Is Still Free To Read So, don't miss another story. Log in or register today. LOG IN OR REGISTER
Read more at: https://www.bisnow.com/national/news/retail/how-retailers-aim-to-compete-with-amazon-for-online-shoppers-72309?utm_source=CopyShare&utm_medium=Browser
https://www.google.com/search?q=cushman+%26+wakefield+and+amazon+and++Ben+Conwell,&sxsrf=ALeKk020_X2Tdtsn7-ivqDbBZ8AGpe6yiQ:1593260304141&ei=EDn3XvuLCIS6tQaxmISoAQ&start=0&sa=N&ved=2ahUKEwj709mT_aHqAhUEXc0KHTEMARU4HhDy0wN6BAgLECw&biw=1536&bih=674
Royal Dude, but how do they put Humpty Dumpty back together? Truist has large shareholders. You can't just give that company away to COOP. So how do you propose they do that? Sorry, but I just don't get it..
ND9
Duh, going private does not equate to getting wiped out.. they could buyout shareholders and then go private.
Because nobody knows and everybody is waiting for this be addressed by company...
Where does it say here appeal is holding anything up? Show me a court order. In fact, the WMILT said just the opposite..
I hope her appeal schedule forces the "Puppet Masters" to act quickly and give us our money.... maybe they won't want to take the chance of Appeals Court ruling against them......
You would think Blackrock and Vanguard would have something to say about being wiped out... They are big JCPenny shareholders.
ND9
Why Amazon is focusing on fashion with its Big Style Sale
THE AMAZON EFFECT / JUNE 26, 2020
By Gabriela Barkho
This week marks Amazon’s first “Big Style Sale,” taking place just weeks ahead of when its annual Prime Day was originally set to occur.
The company, which announced the event in early June, positioned it as a way to “jumpstart” revenue for sellers of fashion merchandise. Promoted participating brands include popular established names like Under Armour and Calvin Klein, as well as younger ones like MVMT Watches.
Last month Amazon reportedly pushed back Prime Day, originally set for July 15 and July 16, in order to get back on track in fulfilling non-essential orders. The decision also follows months of obstacles for the platform’s third party sellers, which began with inventory delays in February due to China’s initial virus outbreak.
Even with these setbacks, Amazon’s sales have been on fire. In its first quarter earnings report of the year this April, Amazon posted net sales grew 26% year-over-year, hitting $75.5 billion. However, the company said the entirety of the recorded profit will go to the Covid-19-related operating costs it incurred during the pandemic’s rush.
The focus on apparel now makes sense. Fashion has historically been a blindspot for Amazon, but it’s been slowly trying to grow its presence in that area. For one, it’s an area of retail that’s been lagging of late; apparel sales nationally have been down since March, having seen record drops in April, and ultimately a 63.4% fall in May compared to the previous year. Despite some bright spots in the athletic and loungewear categories, the industry wasn’t able to make up for the millions in lost spring sales. This event is a potentially way to both grow an ailing category as well as help Amazon increase its retail domain.
One brand participating in the sale is DTC kids apparel label Cubcoats, which is being featured on the event’s official landing page alongside other major companies. Cubcoats — previously a top seller in its category on Amazon Prime Day — is running discounts of up to 50% off from June 22 to June 88 to coincide with the virtual campaign.
The company decided to use this time to give its new face masks “a proper launch” on the Amazon store, said co-founder Zac Park. “This event has been huge for us, we couldn’t be happier with the results,” Park said. Since the sale started earlier this week, it brand has seen “over a 500% increase in traffic” to its Amazon store, he confirmed. And while no marketing spend was used to participate, the company did build a dedicated new sales page for it.
With the much-anticipated Prime Day — typically focused on gadgets — still months away, the fashion sale could provide a much-needed lift for Amazon sellers whose categories suffered throughout the widespread quarantine.
Fashion and luxury brands have historically avoided Amazon for several reasons. For one, nicer companies preferred having more control of their brand. What’s more, Amazon shares very little customer data with its sellers. Though, that hasn’t stopped Amazon from wooing them in recent years, with subsidiary Zappos scoring partnership wins with high end designers like Bottega Veneta and Rick Ownes.
Joe Rohrlich, chief revenue officer at e-commerce platform Bazaarvoice, said the current spotlight on Amazon’s fashion offerings could further offset the industry’s losses, which recently began to have an upswing after the sudden halt in March.
While other categories, like online grocery shopping, have been deemed benefactors of at-home shopping, clothing shopping quickly became limited to remote work-appropriate gear. For example, Rohrich noted that when the global shutdowns began in March, the Bazaarvoice network of over 6,200 brands and retailers “saw a -4% year-over-year decrease in apparel and accessories online orders.”
Rohrlich also expects the event’s mid-year numbers could serve as a preview for what’s to come on Prime Day. With so much uncertainty still plaguing brick and mortar, he said Amazon’s campaign “will no doubt send a surge of sales into the fashion industry.”
https://www.modernretail.co/platforms/amazon-big-style-sale-prime-day-alternative-to-help-fashion-brands/
Amazon is Making Its Bookstores a Priority, and is Now the Fourth Largest Bookstore Chain in the US
25 June, 2020
Amazon, Bookstore3 Comments
The pandemic has many questioning whether brick-and-mortar retail will ever return to normal. Some might wait for an answer before investing in new physical retail locations, but not Amazon. The retailer continues to launch new Amazon Books locations at, compared to its competitors, a breakneck speed.
Amazon opened its first bookstore in November 2015 in Seattle, and since then they have announced, launched, or started developing 24 additional locations, including launching a store in Phoenix, AZ just over 2 weeks after the first Amazon Books location’s 4th anniversary, and filing for permits for a store in Kansas City, MO, in May 2020 (in the middle of a raging pandemic, yes). The stores carry a selection of several thousand books as well as toys, games, electronics, and Amazon hardware such as the Kindle ereader and the Echo smart speaker.
For a while there it looked like Amazon was cooling to the idea of physical bookstores; in 2018 they canceled two bookstores and converted a third location into a 4-Star store. That period of uncertainty lasted only a few months, however, with Amazon opening its next bookstore in Denver in March 2019.
Amazon has continued to open bookstores since then, and they have also started renovating older stores. In late 2019 Amazon temporarily shut down the Georgetown, Bethesda, and three other Amazon Books locations so they could refit the stores with electronic shelf labels, shift the books so they were shelved spine out, and reorganize the store layouts.
In spite of Amazon’s continued expansion, the retailer has faced less and less criticism as time passed. For the first year or so the announcement of each new Amazon Books location drew complaints from local booksellers, and after the first location opened in Seattle, the ABA started muttering about violations of antitrust law, although this ultimately proved unfounded.
Very little has been written about Amazon’s bookstores in the past few years, and yet at the same time Amazon has managed to become the fourth largest bookstore chain in the US after B&N, BAM!, Half-Price Books, and Deseret Books. (This list does not include Hudson News, which operates airport bookstores, or Follett or B&N Edu, which operate college bookstores.)
To be honest, this achievement isn’t as impressive as it would have been three or four years ago. A number of chains have failed in the past few years, including Lifeway, Book World, Hastings, and Family Christian Stores. Each of these chains had more stores than Amazon Books, but they did not have the sales to keep the stores open.
Amazon does, or so we assume. The retailer has not revealed revenue figures for their stores, leaving us no option other than to speculate.
At the very least we can conclude that Amazon is getting something of value out of their bookstore chain. Is it sales data? Tax write offs?
Your guess is as good as mine.
https://the-digital-reader.com/2020/06/25/amazon-is-making-their-bookstores-a-priority-and-are-now-the-fourth-largest-bookstore-chain-in-the-us/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheDigitalReader+%28The+Digital+Reader%29
Amazon launches Smart Stores in India
Jun. 26, 2020 8:00 AM ET|About: Amazon.com, Inc. (AMZN)|By: Brandy Betz, SA News Editor
For the India-specific program, Amazon (NASDAQ:AMZN) is providing stores with digital log software and a QR code that, when scanned, provides a shopper with the store's entire inventory, discount offers, and product reviews.
Customers can select items in the app and pay using Amazon Pay.
The company piloted the program two months ago and has now rolled out to over 10,000 shops, including Big Bazaar, MedPlus, and More Supermarkets.
Amazon points out the social distancing benefits of the digital storefronts, which don't require shoppers to step into the store or physically handle cards or cash.
The Smart Store push is Amazon's latest move into India's brick-and-mortar retailers. The tech giant is a stakeholder and the authorized online sales channel for retail giant Future Retail, which operates more than 1,500 stores in the region.
https://seekingalpha.com/news/3586449-amazon-launches-smart-stores-in-india
“Private Company” doesn’t equate to nothing for shareholders.. Elliott might buyout shareholders... how do we know that wasn’t agreed to today?
Junior Bondholders are wiped out but where does it say shareholders are wiped out? Why would they mention junior bondholders but not shareholders?
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Windstream restructuring gets court approval
Jun. 25, 2020 4:52 PM ET
|About: Uniti Group Inc. (UNIT)|By: Jason Aycock, SA News Editor
Windstream Holdings' (OTCPK:WINMQ) restructuring plan has been approved in court, and the company now expects to emerge from Chapter 11 bankruptcy in August as a privately held company, with the backing of Elliott Management.
That will result in cutting debt by more than $4B (about two-thirds) - wiping out junior bondholders - and gaining access to about $2B in new investment capital.
“We look forward to beginning this new chapter for Windstream," says CEO/President Tony Thomas. "When we emerge, our lenders will become our new owners and strategic partners and are aligned with our long-term strategy and mission to deliver quality and reliable services. As a private company, Windstream will have increased flexibility to invest in our network, accelerate our transformation and return to growth."
An interested party: Uniti Group (NASDAQ:UNIT); settling a lease dispute between the two is key to Windstream's new strategy.
https://seekingalpha.com/news/3586337-windstream-restructuring-gets-court-approval
See the future of online shopping. It looks nothing like Amazon
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An interesting article... What caught my eye was this phrase that states, "Shopping for clothes online can feel like a chore. You need to plow through row after row of outfits, filtering through categories, until you find something that catches your eye."
Hmmm, so shopping on line for clothes isn't preferred? Great, JCPenny can provide 700 locations to sell some clothing, allow folks to try it on, pick up packages, work with other Mall tenants, etc, etc..
ND9
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See the future of online shopping. It looks nothing like Amazon
06-25-20
6:00 AM
THE REBUILDERS
See the future of online shopping. It looks nothing like Amazon
Diesel has created a virtual showroom that mimics the real thing in Milan. It offers a glimpse at a more immersive future of online shopping.
BY ELIZABETH SEGRAN3 MINUTE READ
Shopping for clothes online can feel like a chore. You need to plow through row after row of outfits, filtering through categories, until you find something that catches your eye. But the Italian denim brand Diesel offers a tantalizing alternative: a digital showroom that takes online shopping to a new level, incorporating some of the best parts of physical retail.
Diesel came up with this showroom in response to a problem. Thanks to the coronavirus, buyers from department stores and boutiques couldn’t visit the brand’s physical showroom in Milan to explore the brand’s Spring/Summer 2021 collection and place orders. So the brand’s leadership quickly came up with a new plan: They partnered with the consultancy Accenture to design an immersive virtual showroom that looks very similar to the real thing, where people can saunter around mask-free, without worrying about social distancing.
[Image: courtesy Diesel]
It’s a fun, hyperrealistic experience that offers a glimpse into what online shopping might look like in coming months and years. “One must look for silver linings whenever and wherever possible,” explains Massimo Piombini, Diesel’s CEO, in an email. “2020 has sparked an urgency to accelerate what we can offer and accomplish in the digital space.”
Your journey through the showroom begins in a waiting area decorated with a lush plant wall, where you’re met by a concierge who serves as your guide. Then you begin to explore different rooms with your mouse, much the way you might if you were in an open-world video game like Minecraft. Everything is designed in Diesel’s industrial-chic aesthetic, with cinderblock walls and cement floors covered in a pattern of broken glass. One room features mannequins clad in the brand’s latest ’90s-inspired denim. Turn the corner, and you’re in the footwear studio, where you can take a look at a pair of neon sneakers.
[Image: courtesy Diesel]
Importantly, you can zoom in or out. Buyers can scan through the brand’s entire Spring/Summer 2021 collection, get a 360-degree look at each garment, inspect textures close-up, and even look at tags that convey useful information, such as price and a garment’s composition.
The experience is currently only available to a small community of vendors, but in many ways, it is an experiment that could replace—or at least supplement—e-commerce for everyday consumers. E-commerce has spiked by nearly 40% in the wake of social distancing. But most e-commerce websites haven’t change significantly since the early ’90s. Back then, brands began building what amounted to a digital version of their catalog. Three decades later, most brands—from major department stores like Nordstrom to newer brands like Everlane—feature rows upon rows of garments, which the consumer must scour by filtering through categories. There have been a few efforts to go beyond this model, from Man Repeller’s arcade game-like interface to The Yes, a shopping app that shows you a customized assortment of products. But for the most part, online shopping hasn’t evolved.
[Image: courtesy Diesel]
The Diesel showroom isn’t perfect. It’s about exploration, which is obviously more time-consuming than simply scanning through lists of products on a website. (And online, efficiency reigns; just look at the popularity of Amazon.) But it does show what is possible when it comes to online shopping. E-commerce doesn’t have to be purely transactional: It can incorporate some of the visceral pleasures of browsing in real life.
Brands may imagine that transitioning their inventory to a virtual platform like this might be an overwhelming challenge, but it’s worth noting that Diesel managed to build this entire experience and upload every garment from its latest collection in a matter of months.
Brick-and-mortar retail has been in decline for about a decade, partly because brands did not invest in innovation. The coronavirus has forced many brands to shutter even more stores. As retailers continue to negotiate these store closures, there’s a good chance we’ll see more experiments like this one. And that’s a good thing because I, for one, am bored of scrolling through endless rows of clothes
https://www.fastcompany.com/90520692/see-the-future-of-online-shopping-it-looks-nothing-like-amazon
Amazon to open 14 delivery stations in N.J., hire for new positions
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Amazon needs more delivery stations... why not buy 700 (i.e., JCPenny)?
ND9
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Amazon to open 14 delivery stations in N.J., hire for new positions
Posted Jun 24, 2020
Online retail giant Amazon has signed leases for 14 delivery stations in New Jersey with plans to open them this year, an Amazon Logistics spokeswoman told NJ Advance Media on Wednesday.
Packages from Amazon’s fulfillment centers are transported to Amazon delivery stations, where they’re sorted. The packages are then delivered from there to customers.
Leases have been signed for the following 14 locations in New Jersey:
Paddock St., Avenel
International Dr. South, Budd Lake
Moonachie Ave, Carlstadt,
Washington Ave., Carlstadt,
Thomas McGovern Dr., Jersey City
Court South, Edison
Central Ave., Kearny
Logistics Dr., Kearny
Lower Rd., Linden
Center Square Rd., Logan Township
555 Macarthur Blvd., Mahwah (opened early May)
Delancy St., Newark
North St., Teterboro
Forest Parkway, West Deptford
The spokeswoman said the 14 delivery stations will be hiring for full-time and part-time positions. Pay will be at least $15 per hour and include benefits. The jobs have not yet been posted but eventually will be listed on Amazon’s job portal.
Amazon has more than 150 delivery stations in the U.S.
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Who sells face masks? Where to buy disposable or reusable styles online
Please subscribe now and support the local journalism YOU rely on and trust.
Nicolette Accardi can be reached at naccardi@njadvancemedia.com. Follow her on Twitter: @N_Accardi. Find NJ.com on Facebook. Have a tip? Tell us. nj.com/tips
https://www.nj.com/business/2020/06/amazon-to-open-14-delivery-stations-in-nj-hire-for-new-positions.html
Amazon to the rescue of the fashion world!
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Amazon getting more and more into fashion... Could tie to having a retail presence and JCPenny, but not sure.
ND9
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Amazon to the rescue of the fashion world!
The move will create a new outlet for brands that are at risk of bankruptcy after COVID-19 forced the closing of the stores that sell them, resulting in canceled orders and piles of unsold stock.
New York Times May 15, 2020, 12:03 IST
Amazon to the rescue of the fashion world!By : Vanessa Friedman
Finally, Jeff Bezos is really in fashion. On Thursday, Amazon rode to the rescue of the beleaguered U.S. industry — or at least one particularly challenged and particularly notable subsection: independent high-end designers.
Along with Vogue and the Council of Fashion Designers of America, the e-commerce giant announced the unveiling of “Common Threads: Vogue x Amazon Fashion,” a new storefront featuring 20 buzzy creative names, including Batsheva Hay, Brock Collection, 3.1 Phillip Lim and Edie Parker.
“I’m thrilled to announce this partnership and want to thank Amazon Fashion, not only for its generous support of ‘A Common Thread,’ but also for so quickly sharing its resources to aid American designers affected by the pandemic,” said Anna Wintour, editor-in-chief of Vogue and Condé Nast’s artistic director.
“While there isn’t one simple fix for our industry, which has been hit so hard, I believe this is an important step in the right direction.”
The move will create a new outlet for brands that are at risk of bankruptcy after COVID-19 forced the closing of the stores that sell them, resulting in canceled orders and piles of unsold stock. Even luxury e-tailers like Net-a-Porter have had to close their warehouses.
But it also positions Amazon, which may be the largest fashion retailer in the United States but is often seen as, if not an enemy, at least a questionable suitor when it comes to the designer world, as its white knight. And the move gives Bezos a certain sway over a community that, until now, was largely suspicious of him.
But the ethos of Amazon — “the everything store” — has never mixed well with that of the fashion week flock, which may best be characterized as “only a few, very special, things,” just as its shopping “environment” never seemed sufficiently glamorous to many luxury brands. Though their products were sold on the Amazon-owned Zappos or Shopbop, those brands shied away from being sucked into the parent company’s maw.
That did not stop Amazon from trying. In 2011, the company introduced myhabit.com, a flash-sale site meant to compete with sites like Gilt Groupe. That closed in 2016, the year after Amazon teamed up with the CFDA to sponsor the first New York Men’s Fashion Week (a relationship that ended in 2017). That same year Amazon Fashion went all in with private label clothing, a category that now includes 111 different labels and 22,617 products, according to a report from Coresight Research.
On an investor call in 2016, Jean-Jacques Guiony, chief financial officer of LVMH, the largest luxury group in the world, announced: “We believe that the existing business of Amazon doesn’t fit our luxury, full stop, but also doesn’t fit with our brands. If they change the business model, I don’t know, but with the existing business model, there is no way we can do business with them for the time being.”
Still, WWD reported in January that Amazon was planning a new luxury platform to compete with the Alibaba Tmall, along with a $100 million marketing campaign; and as recently as February, Bezos was at Paris Fashion Week celebrating Diane von Furstenberg’s Légion d’Honneur with Wintour and designers like Christian Louboutin.
Now the novel coronavirus pandemic has changed the playing field.
Amazon, Hay said, “is the one place everyone is shopping.” (Indeed, Bezos is potentially on his way to becoming the world’s first trillionaire because of it.) Whether they like it or not, designers, especially small ones, have no real choice. They need to move their existing inventory, and they need a partner with the logistics to do it. And one that has access to an enormous ready-made consumer base.
The idea for the storefront came out of an initiative created by Vogue and the CFDA, who have been working together on ways to support the industry through the pandemic. Last month they announced the Common Thread grant program, raising over $4 million to be disbursed in small increments to designers, retailers, garment manufacturers, as well as the fashion support system to help them survive until reopening.
Amazon is donating $500,000 to the fund (for which many of the designers it will sell have also applied), and when Amazon asked how else it could help, the storefront idea was born.
As to what exactly it is: The designers can choose what inventory to sell on Amazon (most likely a mix of current and past stock), and they control their own pricing and imagery. They can opt to use Amazon’s fulfillment platform or do the fulfillment themselves. The standard third-party selling fees — typically around 17% — apply. According to one participant, however, Amazon agreed to eliminate monthly fees, warehouse fees and packaging fees for the initiative.
Vogue and the CFDA initially approached most of the designers about the deal because, as Hay pointed out, Amazon “doesn’t have much of a relationship with many of these brands.”
Now, of course, that will change. “It does feel like lot of things are shifting in the world,” she said.
Whether those shifts include a customer who wants to buy an irony-laden prairie dress (Hay’s signature) or a very expensive unique floral dress (a trademark of Jonathan Cohen) at the same time and in the same place that she buys toilet paper and nail polish remains to be seen.
After all, at the time of the Common Threads store opening, the three current top-selling items on Amazon, in clothing, shoes and jewelry, were a men’s T-shirt multipack, a Hanes men’s sweatshirt and a classic Croc. Even in the private label offering, the average price tag is only $32, according to Coresight.
https://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/amazon-to-the-rescue-of-the-fashion-world/75752807
Large Green, looks like another JCP hearing on 7/8
ND9
Case 20-20182 Document 847 Filed in TXSB on 06/24/20 Page 1 of 5
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE SOUTHERN DISTRICT OF TEXAS
CORPUS CHRISTI DIVISION
IN RE: J.C. PENNEY COMPANY INC. § Case No. 2:20-bk-20182
§ (Chapter 11)
NOTICE OF HEARING
PLEASE TAKE NOTICE that on June 12, 2020, Creditor Janimary Hernandez filed her
Motion of Janimary Hernandez for Relief from Automatic Stay on Southern District of New York
Proceedings [ECF No. 735].
PLEASE TAKE FURTHER NOTICE that a hearing on this Motion has been set for July 8, 2020 at 2:00 P.M. (Central Time) before David R. Jones, United States Bankruptcy Judge, by video or audio conferencing unless otherwise ordered by the Court.1
847
Notice of Hearing. (Related document(s):735 Motion for Relief From Stay) Filed by Janimary Hernandez
Attachments:
Related: 735email 06/24/2020
Thanks Large Green
Should Amazon nab JC Penney? In a word: Yes
By Brittain Ladd
06/22/2020
Rumors continue to swirl that Amazon is interested in acquiring JC Penney. I believe the rumors are true. In this July 15, 2018, article Killing JC Penney: Can The Iconic Retailer Be Saved? I made the argument that Amazon could acquire JC Penney to gain access to additional stores and JC Penney’s ecosystem of own brands.
I am on the record as stating that Amazon should assess acquiring Target, Kohl’s, Costco or Menards in addition to JC Penney.
As a former executive at Amazon, I bring a unique perspective to the discussion of Amazon acquiring JC Penney. I wrote strategies for Amazon to become a third-party logistics company, and I wrote strategies arguing that Amazon should acquire a grocery retailer. I first recommended to Amazon to acquire Whole Foods in a 2013 research paper.
As the largest online retailer in the world, Amazon has slowly gained an appreciation for the value of owning physical stores. I used the phrase “stores matter” inside Amazon quite frequently. Amazon can lease, build or buy more stores.
Not everyone believes the acquisition of JC Penney will happen or that it’s a good idea.
According to an article in the Dallas Morning News, Retail analyst Robin Lewis wrote in The Robin Report that Jeff Bezos would be making a “huge strategic mistake” if he purchased Penney, calling it “a rather dumb idea.”
Lewis is in the camp that thinks buying Kohl’s “would be a smart idea.” His reasons include that Kohl’s is bigger than Penney both in sales, market share and store count, and that most of Penney’s stores are in malls “where traffic has been tanking for years even before the virus.”
A word of advice — ignore everything written by Robin Lewis. Lewis recently made the argument that Amazon acquiring Whole Foods was also a “mistake” and a “dumb idea.”
I believe Amazon should acquire JC Penney because it gives Amazon an opportunity to have a presence in some of the largest malls in the country. Yes, it’s true some Class B and C malls are struggling. However, several Class A malls are thriving. (Mall Class is determined by sales per square foot. To be classified as a Class A Mall, in-line stores inside the mall and less than 10,000 square feet in size must generate $500 in sales per square foot).
What is frequently misunderstood about Amazon is that it doesn’t want to be a grocery, apparel, specialty or e-commerce retailer. What Amazon wants to do is re-imagine the retail experience. Big difference.
Also, Amazon doesn’t believe in competing against other companies as if business was a sporting event with clearly defined rules for scoring points or an agreed upon time of play. Instead, Amazon plays an infinite game where the goal isn’t to win, the goal is to outlast all competitors.
Acquiring JC Penney will provide Amazon with access to a large amount of physical retail space. Space that Amazon can use to create an experience for shoppers. A mistake made by JC Penney (and other retailers) is that they became irrelevant to consumers when they failed to provide an experience to lure customers to their stores. Amazon understands this point better than any other company.
In addition to its physical stores and mall locations, what is often overlooked when discussing Amazon acquiring JC Penney is that the company is a powerhouse of private label brands like Arizona, St. John’s Bay, a.n.a., Liz Claiborne, Stafford and Xersion.
I heard JC Penney get used as an example of a company with “terrific” private label brands multiple times at Amazon.
JC Penney also recently launched a new line of sheets and quilts called Linden Street.
Amazon views apparel, and especially private label brands, as being a key to their growth. The challenge Amazon has encountered is creating its own private label brands that are sticky. (I heard JC Penney get used as an example of a company with “terrific” private label brands multiple times at Amazon).
Amazon will leverage space inside JC Penney’s stores to display and sell its own private label furniture, appliances and other products.
Amazon can grow JC Penney’s private label brands and increase sales by billions of dollars due to Amazon’s massive online presence. Re-imagining the retail experience will significantly increase sales inside each JC Penney store.
Should Amazon acquire JC Penney? Yes.
https://storebrands.com/should-amazon-nab-jc-penney-word-yes
Amazon just signed its largest-ever warehouse lease in NYC. Here’s how it’s been inking deals left and right to grow its massive storage and distribution network.
Usanewspostsby
June 23, 2020
Amazon has signed a deal for its largest-ever warehouse in New York City.
The e-commerce giant has rapidly assembled the largest portfolio of storage and distribution locations ever by a private company in the city.
The warehouses serve as the backbone for Amazon’s booming e-commerce business.
Amazon just signed its largest lease ever in New York City — it’s a deal to occupy a 1-million-square-foot warehouse that will be purpose-built for the e-commerce giant.
The deal, which was confirmed by a person with direct knowledge of the transaction, is the latest in a dramatic expansion of the $1.3 trillion company’s logistics operations in and around the city. Amazon has rapidly created the largest network of storage and distribution spaces ever assembled by a private company in the city.
An Amazon spokeswoman did not immediately respond to a request for comment on the deal.
The spaces serve as the backbone for the billions of dollars of food and goods Amazon sells and delivers within increasingly quick shipping windows to shoppers in a metropolitan area that encompasses its largest e-commerce market in the country.
Read More: Amazon just signed a lease on a huge NYC warehouse used by one-time rival Jet.com. It shows just how hot the market for industrial real estate has gotten.
Separately, Amazon is negotiating to lease a 620,000-square-foot office and warehouse space in Red Hook that is under construction, a source with direct knowledge of the negotiations revealed to Business Insider. That lease, which has previously not been reported, has not yet been signed.
Apple's new iPhone software isn't coming to some older devices — here are the iPhones that are getting iOS 14 (AAPL)
Earlier this month, Business Insider reported that the tech and e-commerce firm signed on to occupy a 200,000-square-foot warehouse in the South Bronx that had previously been leased by its one-time rival Jet.com.
In recent months, Amazon also committed to two warehouse locations just outside of New York City in New Jersey, a roughly 315,000 square foot warehouse at 1800 Lower Road in Linden and an 185,000 square foot space in Avenel at 1 Paddock Street.
At the start of the year, Amazon leased 450,000 square feet in Staten Island, next door to a newly built, 855,000-square-foot distribution center it previously leased in 2017.
The latest deal will have Amazon occupy 55-15 Grand Avenue, a former paper-making factory in Queens that will be razed and replaced with a multi-story warehouse spanning roughly 1 million square feet and that will feature rooftop parking for delivery vehicles.
The project, which is likely to cost hundreds of millions of dollars to develop, will be built by a partnership between the New York City based real-estate firm RXR Realty and Los Angeles industrial landlord LBA Realty. The pair purchased the site two years ago for $72 million.
Read More: Warehouse properties are suddenly red-hot, with Amazon snapping up space while ailing companies sell. Here’s a look at key deals and market forecasts that lay out a huge opportunity for industrial real-estate.
The site is located in Maspeth, an industrial area of Queens that is …read more
https://usa-newsposts.com/business/amazon-just-signed-its-largest-ever-warehouse-lease-in-nyc-heres-how-its-been-inking-deals-left-and-right-to-grow-its-massive-storage-and-distribution-network/
Existing home sales plunge in May, but Realtors think that was the bottom
PUBLISHED MON, JUN 22 2020
10:00 AM EDT
UPDATED MON, JUN 22 2020
11:04 AM EDT
https://www.cnbc.com/2020/06/22/existing-home-sales-plunge-in-may-but-realtors-think-that-was-the-bottom.html
4.3 million homeowners missed their mortgage payments last month
By Anna Bahney, CNN Business
Updated 2:37 PM ET, Mon June 22, 2020
https://www.cnn.com/2020/06/22/success/mortgage-payment-delinquencies-in-may-coronavirus/index.html
Maybe there is a reason Simon backed out of Taubam deal?
In Feb 2020, Simon agreed to buy 80% of Taubam. Then in June 2020, Simon backed out. Maybe they can't do a Taubam deal and JCPenny deal at same time... So Simon had to bail on Taubam deal.... I really don't know, just an interesting article below.
ND9
***************************************
Taubman Accuses Simon of ‘Buyer’s Remorse’, Fights to Save $3.6 Billion Merger
https://footwearnews.com/2020/business/legal-news/taubman-simon-merger-lawsuit-1203009852/
JUN 22, 2020 12:09PM PT