More stories

  • in

    The Jeweler Hemmerle Is Leaving its 120-Year-Old Boutique

    Hemmerle is leaving its historic boutique for a discreet suite down the street. “It’s more in line with who we are today,” Christian Hemmerle said.For 120 of its more than 130 years, the German jeweler Hemmerle welcomed clients in an elegant shop at Maximilianstrasse 14. On one of Munich’s prestigious royal avenues lined with high-end fashion and jewelry stores, the boutique was Hemmerle’s only physical site; its grand arched facade a symbol of the brand in the city.A necklace made with sapphires, rock crystal, labradorite, silver and white gold, and earringsmade with tourmalines, sapphires, garnets, bronze and white gold.Laetitia Vancon for The New York TimesEarrings made with emeralds, bronze and white gold, and a diamond ring made with bronze aluminum and gold.Laetitia Vancon for The New York TimesLast year, as it marked its 130th anniversary, Hemmerle gave up the lease and announced, on cards mailed to clients, that it was relocating. The new home would still be on Maximilianstrasse, but on an upper floor, accessible only by appointment.“The new space is a dream come true,” said Christian Hemmerle, who now owns the business with his wife, Yasmin. “When the landlord offered to buy out our lease, we jumped at the opportunity.”The business never had a great deal of foot traffic anyway, he said. “We have always been confidential, so this is more in line with who we are today.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • in

    Activist Investor’s Group Raises Bid for Macy’s

    The new offer values the department store chain at $6.6 billion. Macy’s, which just announced a strategy to turn around its business, said it would “carefully review” the proposal.The activist investor group that is seeking to buy Macy’s increased the pressure on the department store chain on Sunday, raising its offer and disclosing additional details about its financing plans.Arkhouse Management and Brigade Capital Management said in a news release that they were now offering $24 per share, valuing the retailer at $6.6 billion. The new offer is up from the $21 a share they last put forward and a 33.3 percent premium to Macy’s closing share price of at $18.01 on Friday.Arkhouse and Brigade named additional investors they had brought on as equity partners, Fortress Investment Group and One Investment Management. Arkhouse and Brigade also said, in an apparent response to Macy’s questions about its financing, that they had “identified large global institutional financing sources” that “represent 100 percent of the capital required to buy the shares in Macy’s we do not already own.”The retailer has been facing pressure from the investor group since December, when the group submitted a bid that would take Macy’s private at a value of $5.8 billion. Arkhouse said that unless the retailer began sharing nonpublic information, it might take its offer to shareholders. The investor has since nominated nine people to Macy’s board.Macy’s on Sunday said it would “carefully review and evaluate” the latest proposal.“The Macy’s Inc. board has a proven track record of evaluating a broad range of options to create shareholder value, is open-minded about the best path to achieve this objective and is committed to continuing to take actions that it believes are in the best interests of the company and all Macy’s Inc. shareholders,” the company said in a statement.The retailer has been trying to stay focused on its own strategy for turning around the business.Last week, Macy’s announced a strategy that would vastly change the makeup of the company. It said it would close 150 of its namesake stores over the course of three years, while also opening more locations of Bloomingdale’s and Bluemercury, its upscale chains.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • in

    Hochul Pushes Proposals Cracking Down on Unlicensed Cannabis Shops

    Legal retailers are struggling to get their footing in the face of a much larger illicit market.Gov. Kathy Hochul visited New York City on Wednesday to drum up support for her latest proposals for shutting down the unlicensed marijuana shops that have exploded in number in the wake of the legalization of recreational cannabis.There are more than 400 illicit weed shops in Manhattan alone — outnumbering Starbucks stores in the borough and far surpassing the few dozen licensed cannabis retailers in the entire state.At a news conference at the governor’s office in Midtown Manhattan attended by several owners of licensed dispensaries, Ms. Hochul sought to allay concerns about a return to the heavy-handed enforcement tactics of the war on drugs while pushing for measures that she said would give “some teeth” to the so far ineffective efforts to wipe out the unlicensed shops.Her appearance came as state lawmakers were considering her proposal to strengthen the hand of local agencies by giving them the power to padlock stores. She was joined by licensed dispensary owners who said that the legal market could not compete with the cut-rate prices in illicit shops. The governor and business owners also called on search engines and social media companies like Google and Yelp to remove content about unlicensed shops, which they said added to the confusion among consumers about what weed shops were licensed and which were not.The governor said that the illicit shops posed a public health hazard and undermined the state’s effort to build a cannabis industry that could provide opportunities for people harmed by the war on drugs. She said that efforts to deter the stores with raids and fines over the last year had been concentrated in the hands of too few agencies and had not been effective. Her proposal would make it easier for the state’s Office of Cannabis Management to obtain court orders to padlock stores and would allow for the orders to be executed by local agencies that had more personnel.“More and more cash keeps going in their doors and not the doors of our legitimate operators — and that’s what needs to change,” she said.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • in

    Levi’s Wants You to Rethink Your Denim Shopping

    In the Levi’s store on Market Street in San Francisco, the denim maker’s newly extended collection is on full display. Its mannequins are dressed head to toe in its trademark denim. Black denim overalls are paired with a light-blue long-sleeve denim blouse, complemented by a denim cap. Another dons a denim cross-body bag. A wall of blue jean jackets gives shoppers the option to feel like a hippie, rancher or rock star — depending on which they choose.“It isn’t just walls and walls of jeans,” Michelle Gass said as she scanned the store this month, days after becoming the chief executive of Levi Strauss & Company. The assortment of tops, which Levi’s has been producing at a faster rate than it has in the past, was equal to the store’s inventory of jeans.That day, Ms. Gass’s outfit also served as an example of what the company was going for. She had swapped out her signature black leather jacket that was her go-to look during her time as Kohl’s chief executive for a dark-wash Levi’s trucker jacket and a ’90s-inspired midi denim skirt to match.Ms. Gass, 55, wants to make Levi’s not only a brand you think of when you want jeans, but also a place you go to first when shopping for shirts, jumpsuits and puffer jackets. Her goal is to get customers back more often — since people usually buy tops more frequently than bottoms — and to bring them to Levi’s stores, its website and its mobile app.“When you’re building stores, when you’re creating an e-commerce site, the consumer wants to explore and shop more than just for a pair of jeans,” Ms. Gass said.“It isn’t just walls and walls of jeans,” Michelle Gass, chief executive of Levi’s, said of the company’s store in San Francisco.Marissa Leshnov for The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • in

    Hate Valentine’s Day? There’s a Market for You, Too.

    Single, anti-consumerist or just not a romantic? From petty heartbreak healers to anti-Valentine’s Day parties, groups are finding ways to resonate with naysayers.Lilly Calman is not in the mood this Valentine’s Day for the flowers, chocolates or a romantic dinner for two, especially after a recent breakup.“I’m very angry,” said Ms. Calman, 26, adding that it had been painful to see all the holiday paraphernalia in store aisles.She found a more fitting outlet for her mood this year: a fund-raiser for the San Antonio zoo that will symbolically name a roach or rodent after an ex and feed it to one of the zoo’s animals.“The visual image of him getting eaten by a Komodo dragon is pretty satisfying,” said Ms. Calman, who donated $25 for the rat option. She is hoping the zoo sends her a video so she can host a screening with a friend. “I love reptiles. I think it’s cool.”The annual campaign has raised over $235,000 since the zoo first ran it in 2020, underscoring the appeal of alternative Valentine’s Day rituals for people who are uninterested in the coupledom of it all.The traditions of Valentine’s Day bring strong feelings, both for and against. Do you appreciate a cute tradition? Or do you hold it in contempt as a consumerist scam? Critics have blamed it for upholding a narrow-minded model of relationships as heterosexual and monogamous.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • in

    Walmart to Add 150 U.S. Stores in Five-Year Expansion Drive

    The retail giant, which last opened a domestic location in 2021, said most of the stores would be newly built.Walmart will add 150 stores in the United States over the next five years, a major expansion drive for the retail giant.The company, which announced the move in a statement on Wednesday, said would involve millions of dollars in investment. Walmart employs roughly 1.6 million people in the United States, and said it hires hundreds of people each time it opens a new store.Walmart had just over 4,600 stores nationwide at the end of October 2023, down from more than 4,700 a year earlier. The company has not opened a new U.S. store since late 2021.Most of the stores Walmart plans to open will be newly built, while others will be conversions of existing locations to new formats. The first two new stores will open in the spring, in Florida and Georgia, and the company is finalizing construction plans for 12 other stores this year. It also said it would remodel 650 locations.Walmart announced this week that it was raising salaries and benefits for store managers and offering them stock grants.The company reported sharply higher profit in the first three quarters of 2023, and its share price is hovering near a record high.Consumer spending, which powers the U.S. economy, has been resilient even though shoppers have been squeezed by high inflation and rising interest rates. Credit card data from the holiday season showed retail sales increased from a year earlier.Jordyn Holman More

  • in

    Walmart Offers Store Managers Company Stock to Make Them Feel Like ‘Owners’

    The retailer has been raising wages for store associates. It’s now turning its attention to improving salaries and benefits for their bosses.Walmart, the nation’s largest private employer, is raising salaries and benefits for store managers as it looks for ways to retain them.Walmart said on Monday that managers of its U.S. stores would be eligible for grants of up to $20,000 in company stock every year. The stock will vest over a three-year period, with a percentage vested each quarter.The announcement came a few weeks after Walmart said it would increase the average salary for store managers to $128,000, up from $117,000. The big-box retailer also said bonuses for store managers could reach up to 200 percent of base salary, with a store’s profitability becoming a bigger factor in the calculation.Store managers are crucial in driving sales and profitability within their stores and keeping morale high in a dynamic business. The managers are also seen as an important pipeline for leadership at the company.A store manager at a Walmart Supercenter oversees hundreds of associates who work across a variety of departments, including food, apparel, pharmacies and auto centers. These stores often attract scores of shoppers and bring in millions of dollars in sales each year. At the start of the Covid pandemic, store managers were given even more responsibilities as the company adapted to changing consumer behavior, including managing e-commerce capabilities like in-store pickup for online orders and navigating goods that are out of stock as well as excess inventory.“It’s fair to say that we’re asking them to act like owners and to think like owners,” John Furner, the chief executive of Walmart U.S. who was previously a manager at a company store, said in a briefing with reporters. We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?  More

  • in

    Plus-Size Female Shoppers ‘Deserve Better’

    More from our inbox:Why Trump’s Supporters Love HimChatGPT Is PlagiarismThe Impact of China’s Economic WoesThe ‘Value’ of CollegeKim SaltTo the Editor:Re “Just Make It, Toots,” by Elizabeth Endicott (Opinion guest essay, Aug. 20):Despite the fact that two-thirds of American women are size 14 or above, brands and retailers continue to overlook and disregard plus-size women whose dollars are as green as those held by “straight size” women.The root cause is simple, and it’s not that it’s more expensive or time-consuming; these excuses have been bandied about for years. There are not enough clothes available to plus-size women because brands and retailers assume that larger women will just accept whatever they’re given, since they have in the past.As Ms. Endicott pointed out in her essay, this is no longer the case — women are finding other ways to express themselves through clothing that fits their bodies, their styles and their budgets, from making clothes themselves to shopping at independent designers and boutiques.We still have a long way to go, but for every major retailer that dips a toe into the market and just as quickly pulls back, there are new designers and stores willing to step in and take their place.Plus-size women deserve more and deserve better. Those who won’t cater to them do so at their own peril.Shanna GoldstoneNew YorkThe writer is the founder and C.E.O. of Pari Passu, an apparel company that sells clothing to women sizes 12 to 24.To the Editor:Plus-size people aren’t the only folks whose clothing doesn’t fit. I wore a size 10 for decades, but most clothes wouldn’t fit my wide well-muscled shoulders. Apparently being really fit is just as bad as being a plus size.I wasn’t alone; most of my co-workers had similar problems. Don’t even get me started about having a short back and a deep pelvis. I found only one brand of pants that came close to fitting and have worn them for almost 40 years. They definitely are not a fashion statement.Eloise TwiningUkiah, Calif.To the Editor:Thank you, Elizabeth Endicott, for revealing the ways that historically marginalized consumers grapple with retail trends. You recognized that “plus size is now the American average.”As someone who works for a company that sells clothing outside of the traditional gender binary, I’d add that gender neutral clothing will also soon be an American retail norm. It’s now up to large-scale retailers to decide if they want to meet this wave of demand, or miss out on contemporary consumers.Ashlie GrilzProvidence, R.I.The writer is brand director for Peau De Loup.Why Trump’s Supporters Love HimSam Whitney/The New York TimesTo the Editor:Re “The Thing Is, Most Republicans Really Like Trump,” by Kristen Soltis Anderson (Opinion guest essay, Aug. 30):Ms. Anderson writes that one of the most salient reasons that Republican voters favor Donald Trump as their presidential nominee is that they believe he is “best poised” to beat Joe Biden. I do not concur.His likability is not based primarily on his perceived electability. Nor is his core appeal found in policy issues such as budget deficits, import tariffs or corporate tax relief. It won’t even be found in his consequential appointments to the Supreme Court.Politics is primarily visceral, not cerebral. When Mr. Trump denounces the elites that he claims are hounding him with political prosecutions, his followers concur and channel their own grievances and resentments with his.When Mr. Trump rages against the professional political class and “fake news,” his acolytes applaud because they themselves feel ignored and disrespected.Mr. Trump is more than an entertaining self-promoter. He offers oxygen for self-esteem, and his supporters love him for it.John R. LeopoldStoney Beach, Md.ChatGPT Is Plagiarism“I do want students to learn to use it,” Yazmin Bahena, a middle school social studies teacher, said about ChatGPT. “They are going to grow up in a world where this is the norm.”Ricardo Nagaoka for The New York TimesTo the Editor:Re “Schools Shift to Embrace ChatGPT,” by Natasha Singer (news article, Aug. 26):What gets lost in this discussion is that these schools are authorizing a form of academic plagiarism and outright theft of the texts authors have created. This is why over 8,000 authors have signed a petition to the A.I. companies that have “scraped” (the euphemistic term they use for “stolen”) their intellectual properties and repackaged them as their own property to be sold for profit. In the process, the A.I. chatbots are depriving authors of the fruits of their labor.What a lesson to teach our nation’s children. This is the very definition of theft. Schools that accept this are contributing to the ethical breakdown of a nation already deeply challenged by a culture of cheating.Dennis M. ClausenEscondido, Calif.The writer is an author and professor at the University of San Diego.The Impact of China’s Economic WoesThe Port of Oakland in California. China only accounted for 7.5 percent of U.S. exports in 2022.Jim Wilson/The New York TimesTo the Editor:Re “China’s Woes Are Unlikely to Hamper U.S. Growth” (Business, Aug. 28):Lydia DePillis engages in wishful thinking in arguing that the fallout of China’s deep economic troubles for the U.S. economy probably will be limited.China is the world’s second-largest economy, until recently the main engine of world economic growth and a major consumer of internationally traded commodities. As such, a major Chinese economic setback would cast a dark cloud over the world economic recovery.While Ms. DePillis is correct in asserting that China’s direct impact on our economy might be limited, its indirect impact could be large, particularly if it precipitates a world economic recession.China’s economic woes could spill over to its Asian trade partners and to economies like Germany, Australia and the commodity-dependent emerging market economies, which all are heavily dependent on the Chinese market for their exports.Desmond LachmanWashingtonThe writer is a senior fellow at the American Enterprise Institute.The ‘Value’ of CollegeSarah Reingewirtz/MediaNews Group — Los Angeles Daily News, via Getty ImagesTo the Editor:Re “Let’s Stop Pretending College Degrees Don’t Matter,” by Ben Wildavsky (Opinion guest essay, Aug. 26):There are quite a few things wrong with Mr. Wildavsky’s assessment of the value of a college education. But I’ll focus on the most obvious: Like so many pundits, he equates value with money, pointing out that those with college degrees earn more than those without.Some do, some don’t. I have a Ph.D. from an Ivy League university, but the electrician who dealt with a very minor problem in my apartment earns considerably more than I do. So, for that matter, does the plumber.What about satisfaction, taking pleasure in one’s accomplishments? Do we really think that the coder takes more pride in their work than does the construction worker who told me he likes to drive around the city with his children and point out the buildings he helped build? He didn’t need a college degree to find his work meaningful.How about organizing programs that prepare high school students for work, perhaps through apprenticeships, and paying all workers what their efforts are worth?Erika RosenfeldNew York More