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Tag: Breaking News: Major

Jack Nicklaus’ gold Rolex watch sells for $1 million at auction

Champion golfer Jack Nicklaus known as ‘The Golden Bear’ wearing his Rolex Day-Date ref. 1803. SOURCE: Jim Mandeville Nicklaus Companies Golf legend Jack Nicklaus’s gold Rolex sold at auction Tuesday evening for $1 million, equating to $1.22 million with the buyer’s premium. The Golden Bear’s Rolex, which he wore for over 50 years and during …

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Black Friday is losing its clout, more bad news for department stores

Black Friday isn’t quite the deal frenzy it used to be. Retailers have been touting bargains for weeks. With more shopping moving online, it has only become easier to compare prices, and so the lure of doorbuster deals is losing its grip on shoppers. That only means more bad news for a group of retailers …

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Walmart (WMT) reports Q3 2020 earnings that beat estimates

A strong grocery business helped Walmart‘s online sales grow 41% in the third quarter, the company said Thursday, fueling an earnings beat and 21 quarters of growth in the U.S. Total sales in the period fell short of analysts’ expectations, but Walmart raised its annual earnings outlook — for the second time this year — …

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‘Brands don’t need Amazon.’ Nike’s departure could prompt others to go

A shopper browsing Amazon. Indranil Bhoumik | Mint | Getty Images Nike is breaking up with Amazon. The sneaker retailer said it will no longer sell merchandise through the e-commerce giant’s website, in a bid to focus on Nike’s own direct-to-consumer business. The news is setting off alarm bells in the retail industry, with some …

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Under Armour’s shoes aren’t cool right now

Under Armour sports shoes on display. Getty Images Under Armour‘s third-quarter sales might have topped expectations, but one glaring shortcoming in Monday’s release was the company’s shoe sales. Under Armour said footwear revenue tumbled 12% to $250.6 million from $284.9 million a year ago. During a post-earnings conference call with analysts, the company admitted those …

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Nordstrom says family won’t raise its stake in department store chain

Erik Nordstrom, Co-President and CEO of Nordstrom Inc, speaks during an interview on CNBC at the New York Stock Exchange (NYSE) in New York, U.S., October 22, 2019. Brendan McDermid | Reuters Nordstrom shares dipped on Monday after the department store chain said in a filing with the Securities and Exchange Commission the Nordstrom family …

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Timeline of New Jersey’s American Dream megamall and how it got built

This is a rendering of the American Dream project in New Jersey which is scheduled to begin opening to the public on Oct. 25, starting with the Nickelodean theme park. Source: Triple Five Group After more than 17 years in the making, the first phase of America’s newest megamall will finally open to the public …

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You can’t shop at New Jersey’s American Dream on Sundays. Here’s why

It’s quite ironic. A massive entertainment and retail complex is opening in the last county in the country where commercial shopping is still prohibited on Sundays. The first phase of the project opens Friday, featuring a Nickelodeon-themed park and ice skating rink. Other parts of the complex will open in phases, including a water park, …

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How Kohl’s is trying to keep its stores fresh ahead of the holidays

Kohl’s says it will swap out the six brands featured in the “Curated by Kohl’s” spaces on a quarterly basis. Source: Lauren Thomas, CNBC JERSEY CITY, N.J. — Kohl’s stores are getting a bit of a refresh and are being infused with new brands ahead of this holiday season. At a Kohl’s store here, the …

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