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Target lowering prices on thousands of items, including groceries

Target stores nationwide will reduce prices on thousands of items, including toilet paper, baby formula, razors, milk, eggs, cereal and other groceries, among other items, the company announced Friday

>> Read more trending news

The move comes as the retailer positions itself as a competitor amongst other grocers, including Whole Foods, which announced lower prices after being acquired by Amazon.

Target also announced plans to simplify signage at stores that indicate sales and promotions, saying it would cut more than two-thirds of its “price and offer call-outs” so that customers can more easily spot savings.

“We want our guests to feel a sense of satisfaction every time they shop at Target,” said Mark Tritton, Target executive vice president and chief merchandising officer. “Part of that is removing the guesswork to ensure they feel confident they’re getting a great, low price every day.

“We’ve spent months looking at our entire assortment, with a focus on offering the right price every day and simplifying our marketing to make great, low prices easy to spot, all while maintaining sales we know are meaningful to guests. And guests are taking note, appreciating much easier, more clear -- and more consistent savings -- at Target.”

Gap, Banana Republic closing 200 stores

Gap Inc., which owns Gap, Banana Republic, Old Navy, Athleta and two other brands, will close hundreds of stores to make way for new ones. 

>> Read more trending news 

According to The Associated Press, the clothing retailer plans to close 200 Gap and Banana Republic stores in the next three years. The company plans to open 270 new Old Navy and Athleta stores during that time. 

The move supports efforts to leverage Old Navy and Athleta, which have reported rising sales, while Gap and Banana Republic have reported drops in sales.

Gap Inc., like many other retailers, has seen the impact of consumers’ preference to shop online, making it difficult for some brick-and-mortar stores to report significant earnings.

According to the AP, Old Navy is on track to surpass $10 billion in sales in the next few years, and Athleta is expected to exceed $1 billion in sales.

Read more at The Associated Press.

Springboro council OKs $380 million Austin South deal

The Springboro City Council gave the green light Thursday on development of the $380 million Austin South Springboro.

The council voted after developer Larry Dillin unveiled the project publicly for the first time.

With two members absent, the council approved a resolution 5-0 authorizing City Manager Christine Thompson to sign the development agreement with Dillin’s companies.

Those companies are VisCap - the company under which Dillin is developing and leasing on both sides of Austin Boulevard since taking over for developer Randy Gunlock and RG Properties - and Springboro Landing Associates - the company owning the 63.7 acres in Springboro city limits and 3.5 acres in Miami Twp.

“This is a wonderful thing for Springboro,” Mayor John Agenbroad said.

RELATED: Springboro ready to approve Austin South development

Now the city and Dillin’s companies begin a contingency period of 90 to 180 days expected to lead to arrangement of financing for the project. Annexation of the Miami Twp. land into Springboro is among the contingencies.

By late spring 2018, the project could be breaking ground.

It comes as Dillin concludes work at Austin Landing, a mixed-used development at Austin Boulevard across from the new project site along Interstate 75.

RELATED: Austin South could spur $350 million in development

Springboro is to finance more than $32 million to pay for roads and other infrastructure.

Dillin, his investors and the companies moving to the development are expected to put in as much as $350 million, according to the development agreement released this week.

Upscale senior and multi-family housing, a hotel and retail are among the uses anticipated in the first phase of the 67-acre development on the southeast corner of Interstate 75 and Austin Boulevard, in Springboro and Miami Twp.

RELATED: Council traveled 2.5 hours for meeting at Levis Commons

Dillin and the city reached agreement after setting aside terms of a settlement reached by the city and the prior developer, R.G. Properties, in a lawsuit about plans to build a WalMart there.

RELATED: Springboro ready to negotiate on property across from Austin Landing

The development agreement sets a schedule of payments to Miamisburg City Schools, starting in 2021. Payments of more than $3 million would be in lieu of taxes on the improvements that are to be diverted through tax incremental financing to help pay for the development.

The development is to be accessed off Austin Boulevard by an entrance across from one leading into Austin Landing and allowing no left turns for westbound motorists. A full entrance would be built off 741, Main Street in Springboro.

Dillin is also expected to be involved in redevelopment of Springboro’s central crossroads, Main Street and Central Avenue, Ohio 73 in Springboro.

RELATED: Architect hired to redesign former Springboro IGA shopping center site 

TJX opens HomeGoods spinoff store: Homesense

The newest cheap home decor chain is on its way to the United States.

The parent company of T.J. Maxx and HomeGoods is launching a new home store concept called Homesense. Parent company TJX announced in March that it would open a new discount chain selling home decor items, but didn’t release any other information.

>> Read more trending news

The company told People magazine that Homesense stores in the U.S. will be similar to the locations already open in Europe and Canada. The stores will offer furniture, art, sodas, chairs, pool tables, lighting and other home decor items.

Homesense also carries items like cleaning essentials, home improvement items, hardware items and storage supplies. The first store will open Aug. 17 in Framingham, Massachusetts, and more locations are set to open this year in New Jersey.

“Just as our customers enjoy shopping both TJ Maxx and Marshalls, we are confident that loyal customers and new shoppers alike will be excited about shopping both Homesense and HomeGoods,” HomeGoods and Homesense president John Ricciuti said in a statement. “We are excited to bring consumers an expanded selection of quality merchandise at incredible prices, along with a new shopping experience in which they can discover and curate the home of their dreams.”

According to reports, there are three major differences between HomeGoods and Homesense: the “general store” offerings including hardware, home improvement and cleaning materials, the store’s layout and availability of more furniture and big design items. 

Read more here.

Children's retailer Gymboree files for bankruptcy, will close 375 stores

Children’s retailer Gymboree filed for Chapter 11 bankruptcy Sunday and will close more than 375 stores, according to Fortune.

>> Read more trending news

The retailer said it could close up to 450 of its 1,281 stores as the company reorganizes.

The San Francisco-based company says it is seeking to reduce its debt by $900 million. It expects to operate its business and majority of its stores during the restructuring.

“The steps we are taking today allow the company to definitely address its debt and enable the management team to turn its full focus toward executing our key strategies,” Gymboree CEO Daniel Griesemer said in a statement.

Gymboree is the latest retailer to file Chapter 11 bankruptcy, close stores or go out of business entirely in 2017. Shoe chain Payless ShoeSource filed for bankruptcy protection in April and The Limited closed all 250 of its remaining stores early this year. Teen retailer Wet Seal in January said it would close its 171 stores.

Brianna Chambers contributed to this report.

Luxury retailer Jimmy Choo up for sale 

Luxury retailer Jimmy Choo is on the market.

>> Read more trending news 

The BBC reports the high-end shoe brand is seeking offers, but has not yet received any bids. 

Jimmy Choo believes a sale would “maximize ... value for its shareholders,” a company statement said Monday.

Right now, the British brand has a market value of nearly $900 million and operates more than 150 stores worldwide. 

According to Business Insider, its shares slumped last summer, but have since rebounded, increasing 35 percent over the last year.

JAB Holdings Inc., a long-term investment company, currently holds 68 percent of Jimmy Choo. While it is “supportive of the process,” it also said there is “no certainty that an offer will be made, nor as to the terms on which any offer will be made.”

JAB Holdings, which also holds ownership in Krispy Kreme and Caribou Coffee, purchased Panera Bread earlier this month.

>> Related: Krispy Kreme owner buys Panera Bread for $7 billion

Jimmy Choo was co-founded in 1996 by former “Vogue” editor Tamara Mellon and Choo, who once worked for Princess Diana.

The brand received global attention after its shoes appeared in films “Sex and the City” and “The Devil Wears Prada.”

A single pair of Jimmy Choo shoes can sell for more than $1,000.

Traditional retailers have faced recent tough times. Many iconic brands, from Bebe to Ralph Lauren, are closing stores and taking other drastic measures to stay afloat. Department stores, including Macy’sSears, and J.C. Penney, are shuttering mall locations nationwide. Billionaire investor Warren Buffett blamed the trend in part on the rise in popularity of e-commerce companies, such as Amazon.

>> Related: Wet Seal closing all stores

>> Related: Payless ShoeSource to close 400 stores, files for bankruptcy

Best Money-Saving Tips From Travel Agents

Follow these helpful tips from travel agents.

How to Cook an Omelet for a Crowd in 8 Simple Steps

Cooking for a crowd often means that the cook is the only one who doesn’t enjoy the party. Cooking omelets with this recipe keeps that in mind, while giving you other distinct advantages that include: These breakfast omelets taste terrific. Each omelet is personalized. They’re EZPZ to make. Recipe makes multiple omelets at the same…

hhgregg to close all stores

If you’re looking to buy a dishwasher at a discounted price, you might be able to find one at hhgregg, as long as you get there before the end of May.

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The going-out-of-business sales have begun for the 62-year-old electronics and appliances retailer.

On Friday, April 7 -- about a month after filing for Chapter 11 bankruptcy -- hhgregg announced that it will close all 220 of its stores by the end of May, affecting about 5,000 jobs across the U.S.

"While we had discussions with more than 50 private equity firms, strategic buyers and other investors, unfortunately, we were unsuccessful in our plan to secure a viable buyer of the business on a going-concern basis within the expedited timeline set by our creditors,” hhgregg CEO Bob Riesbeck said in a statement.

Shoppers have just a few weeks to use gift cards at hhgregg. The IndyStar reports that hhregg is limiting refunds on items bought before March 6 to $2,850.

Hhgregg is one of many retailers closing stores within the first half of 2017. Bebe and Wet Seal announced closings of all stores nationwide. News that Payless ShoeSource had filed for Chapter 11 bankruptcy surfaced last week. Earlier this year, J.C. Penney announced it would close more than 100 stores across the county. 

>> Related: Macy’s, Kmart, JCPenney: More retailers closing brick-and-mortar stores

>> Related: Ralph Lauren to close flagship NYC Polo store, dozens of other locations

6 Healthy Foods That Might Be Hindering Your Weight Loss

Avoid these so called “healthy foods." They just might turn a healthy meal on its head and counteract your weight loss efforts.

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