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Sherman A1

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Gender: Male
Current location: U.S.
Member since: Sat May 13, 2006, 07:37 AM
Number of posts: 28,658

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Brookstone Files For Bankruptcy, Plans To Close Mall Stores

Brookstone Co. Inc. has filed for bankruptcy for the second time.

The retailer known for massage chairs and other gadgets announced Thursday that it will be shutting down about 100 of its mall locations with hopes of selling its remaining assets, according to the filing document.

In 2014 it filed for Chapter 11 bankruptcy protection and sold its assets to the China-based conglomerate Sanpower Group. Currently, under Sanpower, the company operates a total of 137 retail stores, 35 of which are located in airports.

Loss of foot traffic in shopping malls was cited by Greg Tribou, Brookstone's chief financial officer, as a major reason for filing bankruptcy.

https://www.npr.org/2018/08/02/635021251/brookstone-files-for-bankruptcy-plans-to-close-mall-stores?

Procter & Gamble, in a Strategy Shift, Moves to Raise Prices

Prices are going Up!

https://www.wsj.com/articles/procter-gamble-reports-slightly-higher-sales-drop-in-prices-1533040191

Procter & Gamble Co. PG 0.85% said it was raising prices on some of its biggest brands, a strategy shift after the consumer-products giant reported another quarter of lackluster revenue growth.

After more than a year of trying to combat weak demand with lower prices on staples like Tide detergent and Gillette razors, executives said Tuesday the company was changing course. P&G said it would increase prices on its Pampers brand in North America by 4% on average and by 5% on its Bounty, Charmin and Puffs brands.

The increases go into effect later this year or in early 2019. As the biggest player, P&G tends to drive industrywide pricing moves.
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