Bon-Ton prepare bankruptcy as store closings proceed
Bon-Ton Stores plans to file for bankruptcy protection as early as this weekend after failing to secure a last minute buyer. The chain will close 47 locations in 17 states this year including Younkers in Cedar Rapids and Cedar Falls. The York based retailer operates about 260 stores amid $1.2 billion debt and strained vendor relations.
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Boston
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Costco courts millennials with online delivery strategy
Costco Wholesale reports rising sales and profits as store traffic grows 5.9 percent in the quarter. CEO Craig Jelinek says millennials account for over 40 percent of new memberships while the chain strengthens online and home delivery options using store showcases and iPad aided purchasing. The Issaquah based company eyes 20 to 25 new stores per year and expands delivery via its Business Centers for two day shipping.
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Seattle
Costco
China
Shanghai
Sam’s Club
Wal-Mart
Amazon
Craig Jelinek
Bellevue
Wash
Jelinek
Canadian group acquires Cedar Rapids blending firm Junge Control
Ag Growth International of Winnipeg announced its acquisition of Junge Control Inc of Cedar Rapids, a 20-employee maker of blending systems for agriculture and fuel. The Junges will remain with the business for at least a year as AGI expands nationwide. Terms were not disclosed.
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Ag Growth International
Winnipeg
Canada
JCI
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U S adds 200000 jobs in January as wages rise
The Labor Department reports 200,000 net jobs added in January with unemployment at 4.1 percent, the lowest in 17 years. Average hourly earnings rose 2.9 percent year over year, signaling wage pressure and potential Fed rate hikes. Construction, food services, health care lead gains.
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Labor Department
U.S
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Westdale
Wiley Boulevard
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Seattle Times
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the Gazette
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US Bureau of Labor Statistics
Thor News Service
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