Matt Townsend, Author at Providence Business News

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TOYS "R" US is considering closing at least 100 U.S. stores. / BLOOMBERG FILE PHOTO/LUKE SHARRETT

Toys ‘R’ Us is said to consider closing at least 100...

Capital Goods 12/18/2017

NEW YORK - Toys “R” Us Inc., which filed for bankruptcy in September, is considering closing at least 100 U.S. stores in the face of...

TOYS "R" US' bankruptcy filing affected both Hasbro Inc.'s and Mattel Inc.'s fourth quarter projections. / BLOOMBERG FILE PHOTO/LUKE SHARRETT

Toys ‘R’ Us bankruptcy hangs over toymakers as holidays approach

Capital Goods 10/30/2017

NEW YORK - When Toys “R” Us Inc. filed for bankruptcy last month, it vowed to keep operating stores, boosting investor optimism that the impact...

AMAZON WILL BEGIN slashing prices on a broad cross section of Whole Foods groceries Monday. / BLOOMBERG FILE PHOTO/TY WRIGHT

Amazon to cut prices at Whole Foods as acquisition closes

Capital Goods 08/24/2017

NEW YORK - Amazon.com Inc. is wasting no time bringing its reputation for undercutting competitors to the grocery business through newly acquired Whole Foods...

PRESIDENT DONALD TRUMP center, speaks as Ivanka Trump, daughter of Trump, from left, Bayo Ogunlesi, chairman of Global Infrastructure Partners, Ginni Rometty, president and CEO of International Business Machine Corp., Indra Nooyi, chairman and CEO of PepsiCo Inc., Stephen Schwarzman, co-founder and CEO of Blackstone Group LP, Mary Barra, CEO of General Motors Co., Gary Cohn, director of the U.S. National Economic Council, Doug McMillon, president and CEO of Wal-Mart Stores Inc., and Laurence Fink, chairman and CEO of BlackRock Inc., listen. / BLOOMBERG FILE PHOTO/ANDREW HARRER

Trump’s CEO brain trust comes up short on big ideas for...

Business Services 08/03/2017

NEW YORK - Elon Musk of Tesla and Walt Disney’s Bob Iger have quit. Jeffrey Immelt of General Electric Co. and JPMorgan Chase’s Jamie...

STAPLES IS BEING PURCHASED BY Sycamore Partners for about $6.9 billion.

Staples to be acquired by Sycamore Partners for $6.9B

Economic Activity 06/28/2017

NEW YORK – Staples Inc. will be acquired by Sycamore Partners for about $6.9 billion in one of the largest retail deals of the...

Black Friday limps toward oblivion as online shopping takes over

Economic Activity 11/28/2016

NEW YORK - The decades-old retail tradition of Black Friday limped closer to obsolescence this year as online shopping and earlier discounts kept many...

A SHOPPER carries Macy's Inc. and Prada SpA bags in San Francisco. Some retail CEOs have said they are happy the presidential election is over, so consumers who were distracted by the election can focus on shopping. / BLOOMBERG NEWS/DAVID PAUL MORRIS

Retail CEOs breathe sigh of relief as vote distraction ends

Economic Activity 11/11/2016

NEW YORK - Barnes & Noble Inc. CEO Len Riggio is happy with the U.S. presidential election -- happy it’s over. Riggio complained along with...

Superheroes top princesses in sign of Disney’s ‘Frozen’ decline

Economic Activity 09/26/2016

NEW YORK - Superhero costumes will unseat princess outfits this Halloween, a sign that Warner Bros.’ DC Comics blitz is taking a toll on...

A Psyduck, one of hundreds of types of Pokémon, appears in the Providence Arcade. / COURTESY NINTENDO

As Pokemon Go frenzy subsides, online retailers still cashing in

Economic Activity 08/11/2016

NEW YORK - Even as the initial craze for Pokemon Go wanes, companies that sell merchandise tied to the augmented-reality game are benefiting. U.S. online...