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The year 2018 was a tale of two stories: a year of record-breaking holiday sales and a year of retailers filing for bankruptcy. According to the Mastercard Spending Pulse report, brick and mortar stores saw a 5 percent increase in sales compared to last year. There was a 19 percent increase for online sales. However, it was also year big retailers like Sears filed for bankruptcy, and Toys-R-Us closed its stores. “Weak retailers are closing,” says marketing professor Darrin Duber-Smith. “It just takes them forever to close.” What does this mean for retailers as we head into 2019? “If the retailers that are in trouble--the ones that are kind of running out of cash, the ones that really look like they're going out of business--if they don't have a good holiday season, they're pretty much dead in the water in the first couple of quarters,” Duber-Smith explains. Despite an increase in holiday sales overall, department stores struggled. Sales were reportedly down 1.3 percent this holiday season. J.C. Penny’s stock fell below a share for the first time last week. Lord & Taylor and Saks Fifth Avenue have been shutting down some of their flagship stores, and Nieman Marcus has big debt coming due in 2020 and 2021. Duber-Smith says debt is a make or break. “These brands that are saddled with so much debt aren't able to invest in their companies,” he explains. “They're not able to invest in marketing. They're not able to invest in e-commerce.” E-commerce is key. Online sales growth for department stores grew 10.2 percent, but Amazon is still king when it comes to online retailers. That's why some stores have decided to work with the retail giant. “Best Buy was left for dead,” Duber-Smith explains. “Now, they have a partnership with Amazon where you can try the products in-store and buy it on Amazon. But now, Best Buy get a piece of that action.”Survival for some retailers means finding creative ways to thrive in an ever-changing retail landscape. 1990
The suspect in the deadly shootings at the shopping complex is Patrick Crusius, 21, of Allen, Texas, three sources told CNN.The information provided to CNN came from two federal law enforcement sources and one state government source. The federal sources told CNN that investigators are reviewing writing posted online days before the shootings that may speak to a motive.The sources say the online posting was believed to be written by Crusius, but have that has not been confirmed.Facebook is working with law enforcement. The Facebook and Instagram profile under the suspect's name have been removed by the company."Our thoughts are with the victims and their families. Content that praises, supports or represents the shooting or anyone responsible violates our Community Standards and we will continue to remove as soon as we identify it," a Facebook spokesperson told CNN.Gomez did not identify the suspect during a news briefing, but he said a white male in his 20s was taken into custody without incident. Gomez said the man is believed to be the sole shooter. Police did not fire any shots, he said. 1120
Time to check your freezers and make sure you don't have the latest product that is being recalled.Blue Bell Creameries issued a voluntary recall for half gallons of their 'Butter Crunch Ice Cream' due to the possibility of a foreign object in the product, the 273
This week's series of earthquakes served as a reminder that the United States' earthquake risk extends far beyond the Pacific Coast. On Tuesday, Puerto Rico was rocked by a 6.4 magnitude earthquake. The earthquake knocked out power to most of the island, killing at least one. Also in recent days, minor earthquakes were felt in Tennessee and Texas. While there have been dozens of earthquakes with a 4.5 magnitude or higher throughout the United States in recent years, the eastern United States see relatively fewer. Only four earthquakes of 4.5 magnitude or greater in the last four years have impacted the eastern United States. But the issue is not the quantity of earthquakes in the eastern United States, but the impact. The USGS puts out a hazard map that shows the earthquake risk nationwide. The map shows areas such as the Pacific Coast and parts of Alaska and Hawaii with a high risk of peak ground accelerations. It turns out that areas of Missouri, Tennessee, Kentucky, Arkansas, Illinois and South Carolina.USGS scientist David Schwartz agrees that the Pacific Northwest all the way to Charleston, S.C., practically every region of the United States, has a risk of feeling a devastating earthquake."The nature of the crust changes as you go from east to west. The Central and Eastern US, the crust is really old, it is older it is colder, it is denser, than the crust in the west which is younger,” Schwartz said. “It’s broken up by many faults and warmer. These different crusts transmit seismic waves differently.”And this difference in geology means that a strong earthquake in the Eastern United States could cause damage over an extensive area.Although the Eastern United States has not had many major earthquakes in the last century, two of the most powerful quakes in American history have happened east of the Rockies. The magnitude 5.8 earthquake that caused damage to the Washington Monument in 2011 is only a minor example of the kind of earthquakes the Eastern United States could see.In 1811 and 1812, a series of earthquakes struck the Mississippi River valley along the New Madrid fault. The strongest of the quakes was a possible magnitude 7.8. The quake was felt across much of the Eastern United States.In 1866, a magnitude 7.0 rattled Charleston, S.C.“A repeat of any of those earthquakes would be extremely damaging, because the housing stock in the Central and Eastern U.S. has not been designed for earthquakes,” Schwartz said.According to a survey funded by the U.S. Army, a magnitude 7.7 earthquake located along the New Madrid fault could cause 85,900 deaths and 8 billion in damage. By comparison, Hurricane Katrina caused roughly 1,500 deaths and 0 billion in damage.What to do during an earthquakeDROP to the ground (before the earthquake drops you!),Take COVER by getting under a sturdy desk or table, andHOLD ON to it until the shaking stops. 2906
The studio and network behind Fox's "Empire" say they are considering their options, following the arrest of television actor Jussie Smollett."We understand the seriousness of this matter and we respect the legal process," 20th Century Fox Television and Fox Entertainment said in a statement to CNN on Thursday. "We are evaluating the situation and we are considering our options."The company's statement came hours after Smollett was arrested on 459