TOURISM & LEISURE
Store Owners Are Challenged
Pandemic, unrest tests their optimistic outlook
Marred by tepid consumer interest, countywide protests, curfews and looting, the retail reopening after the Covid-19 shutdown had a rough start to say the least.
Brands Join in on the Conversation
Amgen, Mattel, Anastasia among companies embracing social justice
As protesters took to the streets across the U.S. recently to express their anger over the death of George Floyd at the hands of Minneapolis police officers, a growing number of local brands chose to take part in the social justice conversation.
True Religion to Exit Bankruptcy
But unsecured creditors object to plan
True Religion Apparel Inc. estimates it will emerge from bankruptcy by mid-August, according to documents filed with the U.S. Bankruptcy Court for the District of Delaware.
Lufthansa Resumes Flights from LAX to Munich
In a sign that LAX is starting to rebound from the air travel slump caused by the Covid-19 pandemic, Lufthansa resumed service between LAX and Munich.
Big 5 Reports Sales Slump
Company sees 11% decline during first quarter
Big 5 Sporting Goods Corp. delivered the results it had expected for the first quarter despite the impact of the Covid-19 pandemic that forced the temporary closure of about half of its stores.
Mattel Expects Tough Times Will Continue
‘Retail disruptions’ likely to hit second-quarter results
Mattel Inc. executives did not provide revenue guidance during a recent call with analysts, but their evident sentiment can be summed up as “it will get worse before it gets better.”
Anxious Times for Restaurants
Owners are on edge as they await the new normal
Some 30,000 restaurants and bars in Los Angeles County have had to figure out how to stay afloat during pandemic-induced restrictions on social gatherings.
Hightimes Acquires 13 Dispensaries
Media company pays $80M in big retail play
Venice-based Hightimes Holdings Corp. has made a major play in the retail cannabis market with the purchase of 13 dispensary locations across California.
Macerich Taps Credit Line for $550 Million
Mall operator also cuts dividend and capital expenses
Macerich Co., coping with the fallout of the Covid-19 pandemic, recently borrowed $550 million on its revolving line of credit.
Revenues Give Boost to Skechers
Footwear manufacturer sees strong rebound in market cap
Shares of Skechers USA Inc. rose about 25% after the footwear and apparel manufacturer reported first-quarter sales that were 2.7% below results for the same period a year earlier.
Mochi Brand Tries Single Servings
Ice cream-maker touts safety benefits of new packaging
Mochi Ice Cream Co. is adjusting its product line to accommodate coronavirus-induced social norms.
Retail Process Remains Stalled
Costs piling up as applicants await licenses
At 10 a.m. on Sept. 3, more than 200 people signed into an online application for L.A.’s latest round of cannabis business licenses.
Puzzles Help Stores Pick Up the Pieces
Demand is soaring for jigsaws at local toy shops
Jigsaw puzzles are “the new toilet paper,” according to Jill Wahlquist, vice president at Tom’s Toys.
LA Car Dealers Get Green Light
City clarifies, OKs resumption of online car sales
Confusion about the intent of Mayor Eric Garcetti’s revised Safer at Home order prompted some 70 auto dealers with Los Angeles addresses to cease all sales for weeks while other retailers pivoted to ecommerce.
Wooden to Depart Tourism Board
CEO will retire at the end of June
Ernest Wooden Jr. will retire at the end of June as president and chief executive of the Los Angeles Tourism and Convention Board.
