Muggles, get ready for the first Harry Potter flagship store

(CNN)A massive Wizarding World of Harry Potter store is coming to New York this summer. It’s been 12 years since the release of “Harry Potter and the Deathly Hallows,” J.K. Rowling’s final novel in the series, but the franchise has endured. A spinoff play, “Harry Potter and the Cursed Child,” is currently running on Broadway at the Lyric Theater and the skateboarding brand Vans even introduced a Harry Potter sneaker collection in 2019. The store will cover three floors and more than 20,000 square feet, making covering the whole thing in a timely fashion one of the lost obstacles for the Wizard’s Cup. Warner Bros. has not released any details about what the store will include, but you can expect …

America has turned its back on big department stores

New York (CNN Business)Somehow, in the midst of a monster holiday shopping season, America’s biggest department stores managed to lose sales. Despite several attempts to revamp their images, department stores have gotten the cold shoulder from shoppers. JCPenney’s results raise “continued questions about the chain’s long-term viability,” Neil Saunders, analyst at GlobalData Retail, said in a note to clients Thursday. “Once loyal customers now avoid the chain and shop elsewhere.” Americans are still shopping, and consumer spending in the United States remains strong. But shoppers they are hunting for bargains at big box chains such as Walmart (WMT), Target (TGT), Costco (COST) and online. Costco said Wednesday that sales in the United States during December jumped 9.4%. These companies are …

New media investment firm Attention Capital acquires Girlboss

Attention Capital, a new outfit that buys, builds and scales media brands, is acquiring Girlboss, the female-focused multi-media business founded by Sophia Amoruso, who will join the firm as a founder partner. A spokesperson for LA-based Girlboss declined to disclose terms of the deal, but said Attention Capital has acquired 100% of the business. Girlboss had raised $3.1 million in venture capital funding in 2017 from Lightspeed Venture Partners. Today’s announcement represents Amoruso’s second exit, though her first M&A deal was more of a rescue operation. She previously founded and led the millennial retailer Nasty Gal, growing it from a small eBay store to a fashion giant that observed more than $300 million in sales at one point in time. …

Black Friday sales are fueling fashions dark side | Eva Kruse

We are producing and consuming fashion at a rate like never before and mass shopping sales are simply fanning the flames This morning I opened my inbox to find reams of emails mid-season sale, 50% off, exclusive offer enticing me to grab the best deal while it lasts. When were barraged by messages from the fashion industry to buy more, its hard to resist and I have easily succumbed to these temptations in the past. We are now producing and consuming fashion at a rate like never before. Since 2000, Europeans have purchased more pieces of clothing but spent less money in doing so: clothing prices in the EU have half as long as they did 15 years ago. Yet …