Craft and fabrics retailer Joann, in business for 80 years, announced the closure of all 800 stores in 49 states due to financial turmoil and low sales. With 19,000 employees, Joann filed for bankruptcy twice, unsuccessfully seeking a buyer to keep the business afloat. Assets were auctioned off to GA Group, leading to immediate going-out-of-business sales at all locations, eliciting sadness from customers and designers who relied on the store for crafting supplies.
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Deckers vs. Nike: Which Shoe Stock Is the Better Buy Right Now?
Nike (NKE 0.46%) and Deckers Outdoor (DECK 2.42%) have both faced significant declines this year, with Nike down 24% and Deckers down 46%. Despite Nike's larger market presence, Deckers has demonstrated stronger growth and a more diverse product range, positioning it favorably amid economic challenges. Ultimately, Deckers appears to be the better investment choice due to its growth potential and lower P/E ratio compared to Nike, which is undergoing a challenging transition. Full Article
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