Month: June 2020

Is JCPenney Going Out of Business

out of business

Robert BarnesGetty Images

  • JCPenney filed for bankruptcy on Friday, May 15.
  • In the midst of the coronavirus outbreak, JCPenney announced that it would close nearly 30% of its stores.
  • This summer, 154 stores will close.

    JCPenney recently celebrated its 118th birthday, but its latest financial news has shoppers wondering how much longer the struggling department store chain will keep its doors open. In wake of the coronavirus crisis, J.C.Penney Company, Inc filed for Chapter 11 bankruptcy, joining retailers like J. Crew and Neiman Marcus.

    This doesn’t come as a surprise, though. JCPenney was struggling long before the pandemic due to a rise in online shopping and the threat of big-box retailers like Walmart and Target. They even closed six stores earlier this year and posted a 5.5% decline in sales for the first three months of 2019. Since the start of 2011, the retailer has closed

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    Father’s Day is steadily creeping up on us (it’s June 21, FYI), and the race to find the perfect gift for your dad or favorite paternal figure is on. Whether his vision isn’t quite what it used to be or he’s simply due for a new pair of updated frames, GlassesUSA—a.k.a. a web-exclusive hub for discount prescription glasses—is offering up a great opportunity to snag him some fashion-forward, high-quality shades for less.

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    Why Pitti Uomo Has Canceled Its Show + What This Could Mean for September Fashion Weeks

    Click here to read the full article.

    In April, Pitti Immagine announced that it was postponing the June edition of its Pitti Uomo men’s trade show to the start of September.

    However, on Thursday, its board of directors revealed that it will not hold an event until 2021. Pitti Uomo traditionally takes place in January and June in the Italian city of Florence, just prior to Milan Men’s Fashion Week.

    More from Footwear News

    This decision was determined by two main factors, Pitti said in a statement. It referred to “insufficient number of confirmations of attendance” as well as the “ongoing state of difficulty” regarding the companies who might normally participate.

    This lack of sufficient confirmations, said Claudio Marenzi, president of Pitti Immagine, was an inevitable result of uncertainty regarding quarantine and travel restrictions imposed by various countries.

    He added that a “prolonged absence of any certainties regarding non-repayable government

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