Walmart opens massive online center

Walmart is bringing 1,500 jobs to Florida as it continues to expand its e-commerce fulfillment network.

 

The discounter on Tuesday opened an e-commerce fulfillment center in Davenport, Fla. At 2.2. million sq. ft., the state-of-the-art facility is equivalent in size to about 20 football fields and features 33 miles of shelving and dock doors that can withstand wind speeds of up to 120 miles per hour. It will house millions of items dedicated to fulfilling online orders and will enable faster shipping directly to customers or to stores for free pickup, Walmart said.. . . more

Women's fitness concept closing up shop

Dick's Sporting Goods Inc. is shutting down its women's fashion/fitness store format. 

 

Dick's is closing its two existing Chelsea Collective stores on August 6. Dick's launched the brand in 2015, but it never expanded it in any signficiant way.. . . more

The top back-to-school shopping day will be...

Retailers might want to have extra staff available on August 5.

 

The peak day of the back-to-school shopping season will be August 5, followed by Labor Day, September 4, according to a study by RetailMeNot. The firm's data shows consumers are likely to do the bulk of their spending in August.. . . more

Chipotle had to close a Virginia restaurant following reports of norovirus

Chipotle Mexican Grill temporarily closed a store in Sterling, Va., Monday after eight reports of norovirus were linked to the restaurant. Thirteen people were sickened.

Chipotle, which operates more than 2,300 restaurants, said the store would be sanitized and likely reopen on Tuesday.. . . more

Kohl’s CEO is out to steal customers from its struggling rivals

Kohl's CEO Kevin Mansell told CNBC on Tuesday the retailer plans to aggressively steal traffic from struggling competitors.

"Department stores are not all equal," Mansell said on "Squawk on the Street," as he explained that its fleet of stores is its greatest strength.. . . more

How Investors Can Cash In On Empty Bank Branches

In a move that’s expected to chop $170 million in annual expenses, Wells Fargo plans to close 450 bank branches in 2017 and 2018. That’s about 8 percent of its current network of branches.

Wells Fargo is one of many U.S. banks that is reassessing its brick-and-mortar presence as more and more customers switch to online and ATM banking. Commercial real estate services company JLL predicts a 20 percent reduction in the number of U.S. bank branches over the next five years, even as some banks selectively open new branches at a “restrained pace.”. . . more

Forever 21 shutters Downtown Crossing store ‘until further notice’

Fashion retailer Forever 21 has shuttered its newly opened store in Boston’s Downtown Crossing neighborhood “until further notice.”

Two signs saying “Store closed until further notice. Sorry for the inconvenience” have been posted on Forever 21’s front doors at 449 Washington St. The 20,000-square-foot, three-level store opened in April.. . . more