REAL ESTATE

Penn Traffic to close 53 stores

BY CSA STAFF

The Penn Traffic Co. has told New York officials it expects to close dozens of supermarkets in upstate New York and lay off more than 4,000 employees, Reuters reported.

The Syracuse, N.Y.-based supermarket chain’s layoff notice filed with the state Labor Department says it will close 53 P&C and Quality Markets in central and western New York by Feb. 15.

Penn Traffic says the layoffs include 669 jobs at two suburban Syracuse warehouses the company uses through C&S Wholesale Grocers.

Penn Traffic filed for Chapter 11 bankruptcy last week. It also operates stores in Pennsylvania, Vermont and New Hampshire.

It was unclear if stores outside of New York also will be affected, the report said.

In addition to its P&C and Quality Markets stores in upstate New York, Penn Traffic operates nine Quality Markets and 33 BiLo stores in Pennsylvania, and three P&C stores in northern New England. Employment in all four states totals about 5,700.

Penn Traffic has struggled financially for more than a decade. It emerged from a nearly two-year bankruptcy reorganization in April 2005, but has continued to lose money. It lost $17.6 million last year and nearly $42 million the previous year.

The company also went through bankruptcy reorganization in 1999.

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Just take Monday off

BY CSA STAFF

More than half the people who have Internet access at work will be shopping online when they return to their jobs after the Thanksgiving weekend, which sort of begs the question, how long before Thanksgiving becomes a five-day weekend?

More than 53% of workers with Internet access, or 68.8 million people, will shop for holiday gifts from work, according to Shop.org’s eHoliday survey conducted by BIGresearch. According to the survey, three-fourths (73.8%) of young adults aged 18 to 24 with Internet access will shop at work, and men are more likely to shop from work than women (56.3% vs. 50.8%).

 

“Although employers may cringe at the thought of their workers browsing or buying gifts online at work, there is a potential bright side,” said Phil Rist, EVP strategic initiatives at BIGresearch. “Employees who spend ten minutes at the office completing their holiday shopping online are likely to be much more efficient than those who use extended lunch breaks waiting in line at the store and fighting holiday traffic on the way back to work.”

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Target.com launches Thanksgiving and Cyber Week deals

BY CSA STAFF

MINNEAPOLIS, Minn. Target.com is hosting its first-ever, one-day-only online sale on Thanksgiving Day, as well as offering discounts and free shipping on items across the site throughout the season, including Cyber Week which begins Sunday, Nov. 29.

This year, not only will guests be able to prepare for Target’s in-store 2-Day Sale, they can get a jump start on their holiday shopping with exclusive Web-only deals during the first-ever Thanksgiving Day Online-Only Sale.

Target.com’s Daily Deals destination will feature discount pricing beginning on Cyber Monday, Nov. 30, with prices as low as 70% off regular prices. The deals are available exclusively online, for one day only and cannot be price-matched in Target stores.

Cyber Week also kicks off our two-week Lowest Price of the Season event, Nov. 29 through Dec. 12, which offers low prices on products on Target.com.

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