Claire’s files for Chapter II bankruptcy protection
Claire’s Stores seeks Chapter II protection in Delaware to cut about $1.9 billion of debt and re emerge as a healthier, more profitable retailer. The company has more than 7,500 locations in 45 countries, including Icing, with 17,000 employees and major lenders like Elliott Management and Monarch Capital backing the debt-cutting plan. It aims to re emerge by September for a solid holiday season, while denying store closures. Revenue declined from $1.5 billion in 2014 to $1.3 billion in 2017 amid mall era pressures and private equity debt loading.
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Macy's Launches Mobile Checkout and AR Furniture Tool
Macy's unveils app features enabling mobile checkout by scanning and paying with a smartphone, plus an augmented reality furniture tool to place Macy's tables and couches in customers rooms. VR design experiences planned for 60 stores by fall, with in store verification at mobile checkout.
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U.S. Leads Smart Speaker Adoption Amid Growth Projections
A Voicebot.ai study shows 47.3 million U.S. adults or 20 percent have smart speaker access, led by Amazon Alexa with Google Home as primary rival. Prime membership boosts Amazon user spending, while OC&C predicts voice shopping rising to 40 billion and homes using smart speakers expanding to 55 percent by 2022.
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