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Kohl's beats on 2Q profits as department store cuts inventory amid cautious consumer spending
Read full article: Kohl's beats on 2Q profits as department store cuts inventory amid cautious consumer spendingKohl’s reported on Wednesday that both profits and sales declined in the second quarter as the department store wrestles with shoppers’ cautious spending in a challenging economy.
Foot Locker stores to become voter registration sites
Read full article: Foot Locker stores to become voter registration sitesFoot Locker is helping voters get a leg up this election year. The athletic retailer is joining forces with the non-profit Rock the Vote to give voter registration services. Foot Locker customers will be able to sign up to take part in the political process in the stores starting Sept. 22. [TRENDING: 10-foot bull shark attacks snorkeler in Fla. | Fla. strip club fights to lower dancer age to 18]CEO Richard Johnson says the plan is to “inspire and empower youth culture.”National voter registration day is a non-partisan campaign that debuted in 2012. According to its website, the organization has registered 3 million people.
Mall owner sues Gap for rent on coronavirus-shuttered stores
Read full article: Mall owner sues Gap for rent on coronavirus-shuttered storesNEW YORK NEW YORK (AP) Gap is being sued for refusing to pay rent for stores temporarily closed during the coronavirus pandemic. Mall owner Simon Property Group said in a lawsuit filed this week that the clothing retailer owes three months of rent, totaling $65.9 million. Gap Inc. has more than 390 stores at Indianapolis-based Simon's malls, including its namesake brand, Old Navy and Banana Republic. Gap and other major retailers, including sneaker seller Foot Locker, have said they wouldn't pay rent for stores that were forced to close due to the pandemic. In April, Gap warned that it may be sued by its landlords and that a dispute could be costly and have an uncertain outcome.San Francisco-based Gap did not respond to a request for comment Thursday.