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Published: Thursday, November 23, 2017 @ 5:00 AM
Updated: Thursday, November 23, 2017 @ 5:33 PM
— UPDATE @ 3:30 p.m.:
Hundreds of shoppers waited in a line that wrapped around the parking lot at the JCPenney at the Mall at Fairfield Commons. The retailers gave away coupons at the door, and issued tickets for bigger items like televisions and PlayStation products.
JCPenney's general manager, Mike Wages, held the door open for customers as they walked into the store. The line seemed much longer than it was last year, he said.
UPDATE @ 11:30 a.m.:
At least 100 people stood in line to receive free gift cards of various amounts from Elder-Beerman in Kettering.
Brenda Rumbaugh, of Belmont, usually dresses up as Mrs. Claus or as an elf for Thanksgiving and Black Friday shopping. Standing in line with a friend and family member, Rumbaugh said waiting in line isn’t a burden when you’re doing it with company.
“I’m always done with my shopping before now,” she said. “I just do this for fun. I make it a fun day.”
After making it through the line, Rumbaugh pointed at her friend, who grinned.
“Now, she’s happy. She got a $50 gift card.”
UPDATE @ 10:06 a.m.:
Dozens of people waited in line outside of Elder-Beerman in Kettering. The retailer, which opens its doors at 11 a.m. on Thanksgiving, will give away gifts cards of various amounts to the first 200 people in line at stores.
Karen Miller, of Bellbrook, loves going shopping on Thanksgiving weekend every season. She said she’s just browsing, but has landed deals on gifts like an iPhone 6S in previous years.
“I’m looking for gifts for my nieces,” she said. “Probably pajamas, socks. We’ll go to the Mall at Fairfield Commons later.”
UPDATE @ 9:14 a.m.:
Small crowds came out to stores like Kroger, Meijer and Cabela’s early on Thanksgiving. Elder-Beerman will open at 11 a.m., and JCPenney will open later in the afternoon.
UPDATE @ 6:40 a.m.:
Meijer stores opened at 6 a.m. today, one of the first retailers to open early on Thanksgiving. Though lines were not long, shoppers waited in the electronics and toys sections to land deals on hot items like Keurig makers, iPhones and wireless printers.
David Taliaferro, of West Carrollton, arrived at Meijer on Springboro Pike around 6 a.m. With a cart full of electronics, he waited in a short line for an Amazon Fire TV Stick on sale for $25. The product usually sells for $45 or more.
“I bought a TV for my sister,” he said. “I’ll probably go out shopping later today, but I’ve gotten a lot of the big ticket electronics in the past couple of years so I’m not looking for too much.”
Other stores will open today too. Cabela’s opens at 8 a.m., after closing stores on Thanksgiving last year. JCPenney opens stores at 2 p.m., and other big box retailers open at later in the evening.
While some retailers will close their doors this Thanksgiving, most of the local malls in the Miami Valley will remain open for eager shoppers.
Dayton Mall and the Mall at Fairfield Commons will both open today, and again, on Black Friday. The two malls open from 6 p.m. to 1 a.m. The Greene Town Center is closed today, but will open at 6 a.m. for Black Friday deals. Other retailers open today include: Meijer, Cabela’s, Elder-Beerman, JCPenney, Toys”R”Us, Target and Walmart.
Click here for more store hours
Retailers like Bed Bath & Beyond, Lowe’s, The Home Depot, Sam’s Club and Costco are closed today. Toys “R”Us, Macy’s, Best Buy, Target, Kohl’s and Dick’s Sporting Goods will open in the evening on the holiday.
The Ohio Council of Retail Merchants and the University of Cincinnati Economics Center found the state is likely to see a 9 percent increase in holiday retail spending compared to 2015. In 2016, an estimated $23.6 billion was brought in by holiday sales. In 2015, holiday sales resulted in more than $21 billion in revenue throughout the state.
For the first time, online shopping will exceed brick-and-mortar sales — 59 percent of consumers plan to spend online. The national federation projects that holiday retail sales in November and December will be up between 3.6 percent and 4 percent for a total between $678.8 billion and $682 billion. Consumers say they will spend an average $967.13 this year, according to an annual survey conducted by the federation.
Local malls and shopping centers are still prepping for large shopping crowds, despite the fact that online sales are expected to dominate this year. Steve Willshaw, the general manager of The Greene Town Center in Beavercreek, said the shopping center starts to see larger crowds the weekend before Thanksgiving and Black Friday.
“It stays busy after that,” Willshaw said. “No one is going to argue that online sales have become a part of the shopping experience but you can’t dine online, take a carriage ride or enjoy any of the other holiday festivities that are associated with this time of year at The Greene.”
FIVE FAST BUSINESS READS
Published: Saturday, February 17, 2018 @ 3:23 PM
— Winn-Dixie owner Bi-Lo is preparing for bankruptcy, according to a Bloomberg report.
Up to 200 stores could close as part of a bankruptcy filing, Bloomberg reported. According to Winn-Dixie's website, the retailer has locations in Florida, Georgia, Alabama, Louisiana and Mississippi.
The bankruptcy filing could come as early as next month, Bloomberg reported.
Bi-Lo has not publicly confirmed any bankruptcy plans.
Published: Monday, March 05, 2018 @ 2:19 PM
— In 2006, Best Buy began opening small “Best Buy Mobile” stores across the country, typically in shopping malls. A year later, the iPhone made its debut.
But now the Richfield, Minnesota-based retailer is closing all 257 of its remaining mobile stores. A memo was sent to employees Feb. 28, and the company notified the federal Securities and Exchange Commission.
The company will close all of the mobile stores by May 31.
The company’s CEO Hubert Joly said on an earnings call that the stores were closing due to “changing economics in the mobile industry,” Dayton Daily News reported.
“Back then the mobile phone business was in a period of rapid growth and margins were high,” Joly said, according to the Dayton Daily News. “Fast forward to 2018 and the mobile phone business has matured, margins have compressed and the cost of operations in our stand-alone stores is higher than our big-box stores.”
All of the company’s “Best Buy Mobile” stores are in shopping malls and measure about 1,400 square feet. A regular Best Buy store covers about 40,000 square feet.
Published: Tuesday, March 20, 2018 @ 3:35 PM
— Amazon is looking to buy abandoned Toys ‘R’ Us storefronts once the company shuts them down for good.
The online retail giant is looking at the possibility of acquiring some Toys ‘R’ Us locations as it expands its brick-and-mortar footprint across the country, Bloomberg reported. The stores could be used to showcase its Echo devices.
Toys ‘R’ Us filed for bankruptcy last week. At the beginning of 2018, the chain had more than 800 stores before announcing in January that it would shutter 180 stores.
“Today marks the dawn of a new era at Toys“R”Us where we expect that the financial constraints that have held us back will be addressed in a lasting and effective way,” said Dave Brandon, chairman and chief executive officer.
» RELATED: 5 things to know about Amazon in Monroe
The possible interest comes as Amazon enters the brick-and-mortar game. The company purchased Whole Foods lst year, and it is also opening bookstores. Its cashless convenience stores, Amazon Go, are also reportedly expanding in states across the U.S. in coming years.
So, how does Amazon Go work? Consumers use the Amazon Go app to enter the store, take the products they want and walk out. No checkout. No lines.
The store’s technology uses computer vision, sensor fusion and deep learning to automatically detect when products are taken or returned to the shelves and keep track of them in a virtual cart. Customers grab their items and go, and then their Amazon account is charged with the bill. The store will offer ready-to-go meals, grocery essentials and even locally made food.
FIVE FAST BUSINESS READS
Published: Wednesday, March 21, 2018 @ 7:05 AM
CareSource has added a new executive to its c-suite.
David Goltz is the new chief financial officer for the nonprofit insurer, which manages Medicaid plans.
CareSource said today in a statement that Goltz has more than 30 years of experience and most recently served as chief financial officer of emerging markets for Health Care Services Corp.
CarSource’s former chief financial officer Tarlton Thomas was recently promoted to chief operating officer, a position held by Bobby Jones who was promoted to president of CareSource’s Georgia market in July.
Goltz holds a degrees from the University of Wisconsin – Oshkosh ad University of St. Thomas.