INSIDER
COVID-19 danger continues to drive joblessness in US
Read full article: COVID-19 danger continues to drive joblessness in USUntil the pandemic upended the operations of American companies, from factories to family diners, weekly jobless aid applications had never exceeded 700,000 in the U.S. Theyโve topped 700,000 for 26 consecutive weeks. An extra $600 in weekly unemployment benefits ran out July 31, squeezing households that had depended on the beefed-up payments. President Donald Trump issued an executive order Aug. 8 providing a scaled-back version of the expanded jobless aid. Most states signed up for federal grants that let them increase weekly benefits by $300 or $400. The extra $600 in weekly jobless benefits didnโt replace all her lost income but helped.
Pier 1 closing 6 Michigan stores
Read full article: Pier 1 closing 6 Michigan storesDETROIT โ Pier 1 is planning to close nearly half of its stores -- including 6 in Michigan -- as the company struggles to draw consumers and compete online. The home decor company said earlier this month it is closing up to 450 stores and will also shutter distribution centers. It didnโt say where the store closures would occur, but it operates stores in the U.S. and Canada. Pier 1 also plans layoffs at its corporate headquarters in Fort Worth, Texas. The company โ which was founded in California in 1962 โ has been trying to revamp its cluttered stores and change its offerings to appeal more to younger customers.
Pier 1 Imports closing nearly half of stores as sales falter
Read full article: Pier 1 Imports closing nearly half of stores as sales falterFORT WORTH, TX (AP) โ Pier 1 Imports is closing nearly half its 942 stores as it struggles to draw consumers and compete online. The home decor company said Monday it is closing up to 450 stores and will also shutter distribution centers. It didn't say where the store closures would occur, but it operates stores in the U.S. and Canada. Pier 1 also plans layoffs at its corporate headquarters in Fort Worth, Texas. Pier 1 said sales in its most recent quarter fell 13% to $358 million as store traffic fell.