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December's mini-retail apocalypse rounded off a rough year for US stores

The entrance to a Party City store with a tree and bushes in the parking lot as someone wearing a face mask and carrying a plastic bag walks past.
Party City said that it would close its stores.

AP Photo/Nam Y. Huh, File

  • Big Lots, Party City, and The Container Store reported either bankruptcy or store closures recently.
  • It's a cap on a tough year for many retailers.
  • Shoppers of almost all income levels have been watching their spending in 2024.

Trouble for a trio of retailers at the tail end of 2024 is a sadly fitting end to a tough year for retailers.

Home storage chain The Container Store filed for Chapter 11 bankruptcy on Sunday. The retailer plans to reorganize and its CEO said that the company "is here to stay," but it said in May its full-year consolidated net sales dropped almost 20% year-on-year, and in October that second-quarter sales on the same basis fell 10.5%.

A day earlier, Party City said it would wind down operations and close all of its stores. That's on top of Big Lots, which said last Thursday it would start store-closing sales at all of its locations after its planned sale to a private equity firm fell through.

The few days of bad news caps a rough year for many retailers. Over 2,000 stores have closed this year in the US, by Business Insider's count.

Among the companies that have shuttered stores are drugstore chains CVS and Rite Aid, Family Dollar, and convenience store chain 7-Eleven.

Even some big-name chains that aren't closing stores are still having trouble. Starbucks' sales fell in the latest quarter, showing that new CEO Brian Niccol β€” brought in abruptly to help revitalize the company β€” has plenty to address at the chain in 2025.

Starbucks store employees have told BI that the coffee chain has operational issues to work out, from not scheduling enough workers at busy times to finding a better way to fill mobile orders.

Big Lots, Party City, and The Container Store all have pointed to recent economic factors, namely inflation and consumers who are less willing to spend.

In its statement on Saturday, for instance, Party City cited "an immensely challenging environment driven by inflationary pressures on costs and consumer spending, among other factors" in explaining the decision to wind down operations.

Satish Malhotra, CEO of The Container Store, referenced a "challenging macro-economic environment" in an email to customers this week.

Big Lots, meanwhile, has been saying for months that consumers were buying fewer couches, dining room sets, and other high-priced home furnishings. The chain saw "a significant consumer pullback in big-ticket items, particularly within the furniture and patio furniture categories," CEO Bruce Thorn said during an earnings call in June β€” the last one that the company hosted before announcing its now-scrapped deal to sell itself to Nexus Capital Management.

Inflation has decelerated this year for many items, yet shoppers are still cautious about what they buy, and prices for many items are still proportionally higher than before the pandemic. Many low-income consumers are having trouble stretching their paychecks to cover expenses, a development that has hurt Dollar General and other dollar stores.

More affluent consumers have also slowed their spending, turning away from stores where they have to pay full price and toward off-price chains like Nordstrom Rack as well as store-brand groceries at Walmart.

Even Target reported last month that many of its customers were sticking to buying essentials and shying away from impulse buys and more expensive items, leading the big box chain to cut its forecast.

So far, the outlook for 2025 isn't great. Advance Auto Parts and Walgreens have plans to shut 1,200 stores between the two chains, for example.

To be sure, all three retailers who reported bad news over the last few days faced challenges well before this month or even this year. Big Lots has been closing stores since last year. Party City filed for bankruptcy in January 2023. And The Container Store has reported quarterly drops in same-store sales for several consecutive quarters.

But if shoppers remain value-conscious and stick to stores they perceive as offering the best deals going into 2025, retailers could continue to have a tough time in the new year.

Do you work at a major retailer and have a story idea? Reach out to this reporter at [email protected]

Read the original article on Business Insider

I compared skiing and snowboarding as a beginner. There were 8 differences that made me decide to stick with one.

Insider's author tried both skiing and snowboarding and compared the two.
Business Insider's reporter tried both skiing and snowboarding and compared the two.

Monica Humphries/Business Insider

  • When I first moved to Colorado, I tried skiing and snowboarding for the first time.
  • After attempting the two sports, I realized they have major differences.Β 
  • Stopping on a snowboard was easier, but I loved having ski poles to propel me across flat surfaces.

Growing up in Florida, my winters involved ocean plunges in bathing suits, not skiing in snowsuits.

When I moved to Denver in 2021, I had never clipped into skis or strapped into a snowboard. Meanwhile, it seemed like a sport everyone did and loved.Β 

As my first Colorado summer turned into my first Colorado winter, I was ready to give these winter hobbies a shot.

In 2022, I headed to my first ski lodge, where I attempted a few beginner runs on a snowboard.
The author's first day on a snowboard ended in a hike down the mountain.
The reporter's first day on a snowboard ended in a hike down the mountain.

Monica Humphries/Business Insider

To kick off 2022, I planned a trip to a Colorado ski resort with friends.Β 

In the weeks before the trip, I debated skiing versus snowboarding. I was unfamiliar with both and determined to take a class. Procrastination got the best of me, and by the time I signed up, all the ski lessons were full.Β 

Snowboarding classes were still available, so the decision was made for me.

My first day on the slopes was a hilarious disaster. My friends and I didn't pick up the sport as naturally as we had hoped. The day ended up with us walking down a run instead of snowboarding down it.

Even though I didn't finish my first day as a snowboarding pro, I did understand the appeal. It was fun to be challenged by something new and spend the day outdoors.Β 

The next year, I decided to give skiing a shot.
Insider's author tried both skiing and snowboarding and compared the two.
The reporter holds skis and a snowboard.

Monica Humphries/Business Insider

The following winter, I headed to Colorado's Winter Park Resort for a work trip.

I planned to take Amtrak's Winter Park Express trainΒ to the resort. Once there, I'd spend two days on the slopes. I was itching for another new experience, so I booked aΒ ski lesson one day and tried snowboarding the next day.Β 

This time, I didn't procrastinate. I booked the ski lesson a few weeks in advance and was eager to compare the two sports. Here are the major differences I noticed.

Let's start with the gear. Snowboard boots were much more comfortable than ski boots.
The author gets fitted for ski boots and snowboard boots.
The reporter gets fitted for ski boots and snowboard boots.

Monica Humphries/Business Insider

My first time snowboarding was with a friend who grew up skiing.

As we each stepped into the massive snowboard boots, she exclaimed how comfortable they were. To me, they felt awkward and bulky, but she promised that they were far more comfortable than any pair of ski boots she ever wore.

A year later, I finally understood what she meant.Β 

The ski boots I wore were coated in a hard plastic shell, which meant my feet didn't have much flexibility inside the shoe. They also had two awkward bumps at the front and back of each boot for ski clips, making it feel like I was never walking on a flat surface.Β 

Simple tasks like walking downstairs were challenging. Meanwhile, my snowboard boots had a softer and cushier interior and the bottoms were completely flat.

I didn't mind wearing the snowboard boots all day, but I couldn't wait to get out of the ski boots.

On skis, you face down the mountain. On a snowboard, you're perpendicular.
Side-by-side images of the author skiing and snowboarding.
Side-by-side images of the reporter skiing and snowboarding.

Monica Humphries/Business Insider

One of the biggest differences between the two sports is where your hips and chest face the mountain while you're skiing or snowboarding.

I knew there would be a difference, and I was curious which way I would prefer to face β€” either straight downward on skis or perpendicular on a snowboard.Β 

While skiing, my hips and chest were directly facing forward. This allowed me to use my peripheral vision. I could tell if anyone else was coming down the mountain on my left or right.

On the snowboard, however, my hips were perpendicular to the slope. This made looking behind me slightly easier, but I had a larger blind spot on my snowboard that made peripheral sight more uncomfortable.

Of course, neither skiing nor snowboarding gives you complete 360-degree views, but I felt like my vision was overall better on skis β€” especially as a beginner.Β 

Navigating on flat surfaces is exhausting on a snowboard.
A snowboarder skates on a slat section of a run while skiers in the background push themselves using poles.
A snowboarder skates on a flat section of a run while skiers in the background push themselves using poles.

Monica Humphries/Business Insider

Between lift lines and catwalks on runs, I had to learn to navigate on flat surfaces while snowboarding and skiing.Β 

After trying the two, I learned skiers have it way easier.

That's because most skiers, myself included, use poles. With my poles, I could push myself on flat patches and propel myself forward.Β 

Snowboarders, on the other hand, don't have poles. I needed to prioritize momentum during any flat area, and if I ended up coming to a stop, I needed to unclip my back foot and skate around.Β 

Skating on a snowboard was utterly exhausting, and after trying skiing, I longed for the ease of poles.Β 

I fell a lot more learning to snowboard.
The author in a patch of trees after falling on her snowboard.
The reporter in a patch of trees after falling on her snowboard.

Monica Humphries/Business Insider

Before my first snowboarding lesson, I crowdsourced advice and tips.

Every single person told me to prepare to fall. A lot.Β 

I went into the class expecting my fair share of topples, but I had no idea just how often I would find myself on the ground.

During the four-hour snowboarding class, I fell dozens of times. When I hit the slopes, I was on the ground more than I was standing.

When I went into my skiing lesson, I expected the same number of falls. During the four-house lesson, I didn't fall a single time.

I did attempt a green run later that day and fell a few times, but it still didn't come close to the number of falls I took during my first day of snowboarding.

Getting on and off lifts was easier on skis.
A family of skiers gets off a lift.
A family of skiers gets off a lift.

Monica Humphries/Business Insider

Another place where I struggled as a beginner snowboarder was getting on and off the ski lifts.

When the lift ends, it doesn't stop moving. Instead, skiers and snowboarders must hop off their seats and ski or snowboard down a slight decline to the start of their run.

Again, ski poles were a major advantage in this situation. When I got off a lift on skis, I felt sturdy and confident. I never fell.

Getting off a lift on a snowboard, however, seemed like a skill within itself. I had to keep my balance while pushing off the lift. The result was fall after fall.

On my first day of snowboarding, I didn't successfully get off one single lift without falling. Meanwhile, I navigated lifts easily on my first day of skiing.Β 

Different parts of my body ached after both skiing and snowboarding.
The author rests and straps into her snowboard.
The author rests and straps into her snowboard.

Monica Humphries/Business Insider

Before trying skiing and snowboarding, I didn't realize how hard the sports would be on my body.

After snowboarding, my wrists were aching from falling forward onto my hands all day.

My calves were also not prepared for snowboarding. While on a snowboard, you use the toeside and heelside edge of the board to turn. After many toeside turns, my calves burned.

Skiing was also a hard workout. "Pizza-ing," which is when you point your skis into a triangle to stop, can strain your knees. That's the technique I was taught, and by the end of my first day on skis, my knees were sore from all the "pizza-ing."

Either way, my body was exhausted by the end of my first day on both a snowboard and skis.

The biggest difference I spotted between the two was learning how to stop.
The base of the Winter Park Resort in Colorado.
The base of the Winter Park Resort in Colorado.

Monica Humphries/Business Insider

My biggest concern with learning how to ski and snowboard was learning how to stop.

If I wanted to do either of the sports safely and comfortably, I knew I needed to be confident in my ability to brake quickly and effectively.

Luckily, this skill took little time to learn on a snowboard. With my board perpendicular to the slope, I could put downward pressure on my heels and immediately stop. While I wasn't able to get down mountains on my first snowboarding day, I was able to feel comfortable stopping.

This wasn't the case for skiing. Anytime I picked up any speed, my "pizza-ing" maneuver wasn't strong enough to slow me down. Instead, I spent my first day stopping by intentionally falling over.Β 

I'm sure it's a skill I could learn on skis, but the confidence I had with stopping on snowboards was enough to stick with that sport instead.Β 

Everyone told me that "snowboarding is harder to learn but easier to master, while skiing is easier to learn and harder to master." So far, I think the saying rings true.
The author snowboarding at the Winter Park Resort.
The author snowboarding at the Winter Park Resort.

Katie Sproles

After two winters in Colorado, I imagine I've heard the phrase close to a hundred times from friends. And I've recited it nearly as much to others.

That's because after trying both, I'm starting to understand why it's said so often.

While my first day on a snowboard last year was disastrous, my second day went much smoother. By the end of day two, I could get down blue runs, and after about five days, I felt confident navigating on the heelside and toeside edges of the board.

I'm not quite as confident yet with skiing. I've skied only one day, and although I fell far less than I did snowboarding, keeping my feet perfectly parallel seems like a skill that would take months, if not years, to master.

After trying both, I think there's nothing like gliding down a snowy mountain on a sunny day β€” regardless of whether you're on skis or a snowboard.
The author holds a snowboard.
The author holds a snowboard.

Monica Humphries/Business Insider

The two sports have their pros and cons.

Since I've spent more time on a snowboard overall, I'm sticking with that for now. I'm aiming to master using my toeside edge, and my fingers are crossed that I'll be on black runs sooner rather than later.

Read the original article on Business Insider

Biden administration nixes plan to expand birth control access

The Biden administration on Monday withdrew its proposed plans to reverse a Trump-era policy that made it easier for employers to refuse to offer birth control coverage in company-sponsored health plans.

Why it matters: With Democrats' loss of the White House and Congress in the 2024 elections, Republicans are in a strong position to undermine President Biden's legacy β€” including his administration's work to bolster reproductive rights post-Roe.


Driving the news: The Department of Health and Human Services said in a Federal Register notice on Monday that it's withdrawing the proposed regulations "to focus their time and resources on matters other than finalizing these rules" in the administration's final weeks.

  • The plan would have made some 130,000 people eligible to receive coverage for contraceptives, Politico reports.

Context: During President-elect Trump's first term, his administration rolled back the Affordable Care Act's contraceptive mandate β€”Β allowing organizations to opt out of coverage, citing moral objections. Prior to that, exemptions were limited to religious grounds.

  • The Biden administration's proposed rule would have scrapped the "moral" exemption and retained the "religious" one.
  • It also would have created an "independent pathway" for people who have insurers with religious exemptions to access birth control through a "willing contraceptive provider" at no cost, the HHS said when announcing the plan last year.

The big picture: Patients have been rushing to get reproductive care β€” including getting IUD replacements, backup contraception and abortion pills β€” before the incoming Trump administration takes office next month.

  • Access to reproductive health care more broadly could be in jeopardy, especially under a conservative Supreme Court, experts say.
  • Republicans, who will soon control Congress, have vowed to restrict abortion care. They're likely to try to restrict access to medication abortion and could attempt to pass a national abortion ban.
  • But Trump, after waffling on the issue, said he'd veto a national ban and prefers to leave the issue of abortion to the states. He also recently vowed for this first time to ensure the FDA not block access to abortion pills.
  • Millions of women of reproductive age could be impacted if the cost of care increases or access to contraceptives is limited.

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