BUSINESS

NEAR Protocol (NEAR) gained 5.8% and Avalanche (AVAX) climbed 3.6%.

Red Hot Chili Peppers debut “Scar Tissue” on Billboard’s Rock Streaming Songs chart, earning a third career win on the tally.

For decades, one company defined what it meant to “dress for success,” setting the standard for professional attire and becoming a go-to uniform for women entering corporate America during a period of rapid workforce expansion.But the same brand that once defined reliability in women’s fashion is now navigating a very different reality marked by store closures, shifting consumer behavior, and an industry undergoing rapid transformation.Known for its power suits and tailored trousers, Ann Taylor is a women’s apparel brand founded in 1954 that quickly became the signature professional style. As more women entered the corporate workforce in the 1970s and 1980s, the brand surged in popularity and rapidly expanded into a national retail presence.Ann Taylor went public in 1991 and launched its sister brand, LOFT, five years later to reach a broader, more casual segment of the market.Despite its strong legacy, the company has not been immune to mounting pressures across the retail sector. Macroeconomic uncertainty, increasingly value-conscious consumers, and intensifying competition from both online and legacy brands have all contributed to ongoing challenges.Ann Taylor continues store closures in 2026Ann Taylor’s parent company, KnitWell Group, has recently closed multiple stores nationwide across several of its brands, signaling a continued shift toward optimizing its physical retail footprint.2026 store closuresLOFT: Closed a store in January 2026 in Durham, North Carolina, and another in March 2026 in Whitehall Township, Pennsylvania, according to The News & Observer and Lehigh Valley Live.Ann Taylor: Closed a store in January 2026 in Naples, Florida, according to Gulfshore Business.Chico’s: Closed a store in January 2026 in Overland Park, Kansas, according to The StarTalbots: Closed a store in March 2026 in Short Pump, Virginia, according to WTVRWhile the company has not publicly disclosed detailed reasons for most of the closures, at least one LOFT location was confirmed to have shut down due to a decision not to renew its lease, highlighting the key role real estate continues to play in retail restructuring.The pattern of selective closures points to a strategy focused on profitability per location rather than overall store count, a shift that has become increasingly common across the industry.

Ann Taylor’s parent company closes more stores in 2026.Shutterstock

Ann Taylor’s turbulent history and restructuringAnn Taylor’s history shows how quickly even established brands can be disrupted in today’s retail environment.In 2015, Ann Taylor and LOFT were acquired by Ascena Retail Group for $2.16 billion. Just five years later, Ascena filed for Chapter 11 bankruptcy protection in 2020 after continuous declines in sales and foot traffic, issues that were significantly worsened by the COVID-19 pandemic. The restructuring led to the closure of more than 1,000 stores, according to Business Insider.Later that year, Sycamore Partners (then operating as Premium Apparel LLC) acquired Ann Taylor, LOFT, and other brands for $540 million, according to a company announcement. In 2023, the firm consolidated its portfolio under the KnitWell Group, which manages Ann Taylor, LOFT, and Talbots. At the time, the group generated more than $3 billion in annual sales, according to a company announcement.Today, KnitWell Group operates 3,000 stores across a portfolio of multiple womenswear brands, including Ann Taylor, LOFT, Talbots, Chico’s, Haven Well Within, Lane Bryant, Soma, and WHBM.The move to transition the brands into a privately held portfolio under a retail operator was aimed at prioritizing efficiency, margins, and long-term viability over rapid expansion.A broader retail industry shift affects Ann TaylorThe challenges facing Ann Taylor are far from isolated. The entire retail sector is undergoing a structural transformation.According to CoreSight Research, retailers announced 67% more store closures in 2025 compared to the previous year, an acceleration reflecting changing consumer behavior and ongoing economic pressure.Coverage on more retail store closures:67-year-old retailer quietly closes stores in major shift79-year-old fast-fashion leader closing more stores125-year-old retail chain to close more stores in 202648-year-old nostalgic mall retailer will close 25 stores in 2026And the volatility of the broader retail sector is expected to continue. McKinsey & Company’s State of Fashion 2026 Report projects low-single-digit growth for the global fashion industry, citing ongoing macroeconomic instability, tariff pressures, and value-conscious consumer behavior, particularly in the U.S.At the same time, e-commerce continues to gain share rapidly. U.S. online spending reached $1.34 trillion in 2024 and is projected to surpass $2.5 trillion in 2030, according to Capital One Shopping’s Online Shopping Statistics 2026 data.U.S. online sales accounted for 22.3% of global e-commerce spending in 2024, up nearly 1.5% from the year prior. Yet physical retail is still the preferred format for most consumers. Brick-and-mortar stores accounted for approximately $14.4 trillion of total retail sales of $18.9 trillion in 2025, significantly outpacing e-commerce, according to Euromonitor research gathered by EY.This contrast shows that stores remain essential but must evolve to justify their existence.The future of retailOne of the industry’s most pressing challenges is the decline in the quality of the in-store customer experience. According to Forrester, many retailers have struggled to adapt their physical environments to meet rising consumer expectations, particularly as shoppers grow accustomed to the convenience and personalization of online channels.Experts suggest that retailers must rethink their strategies to remain competitive.Sharmila C. Chatterjee, a marketing lecturer at MIT Sloan School of Management, emphasizes the importance of combining operational efficiency with customer-centric innovation.This includes optimizing merchandise assortment, leveraging artificial intelligence and data analytics, reducing wait times, improving return policies, and investing in store design.”The future of retail is a hybrid of online and offline channels,” said Chatterjee in a study. “To keep customers coming back, retailers need to make strategic investments, experiment with new approaches, and, inevitably, engage in some trial and error as they figure it out.”For Ann Taylor and its parent company, the path forward will likely depend on how effectively it balances these investments while continuing to streamline operations. This approach will determine whether legacy brands like Ann Taylor can remain relevant in a rapidly evolving retail landscape.Related: 77-year-old jewelry giant will close 100 stores, shut 2 brands

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealNo outdoor oasis is complete without a cozy fire pit to set the ambiance and keep you nice and toasty when those summer sun sets and the nights get a bit chilly. Sometimes, however, they can be a bit of a hassle if they’re overly large, taking up what limited patio or deck space you might have, or they’re heavy, and hard to move when you’re not using them to get a roaring fire going. It might not seem like a worthwhile investment, even when fire pits are great for year-round use, if it seems like you won’t actually get a lot of use out of it. But with a multi-functional option that can work as a grill, cooler, and place to get warm, the right fire pit might just move to the top of your “to buy” list as you prepare for the upcoming spring and summer seasons. Right now, Target is selling a Costway 3-in-1 Outdoor Fire Table, which can be used as a fire pit, BBQ grill, and ice bucket, for 46% off. Instead of paying $184 for the 32-inch table, you can save $84 and get one of your own for just $100. Costway 3-in-1 Outdoor Fire Table, $100 (was $184) at Target

Courtesy of Target

Shop at TargetWhy do shoppers love it?Measuring 32 inches long, 32 inches wide, and 19.5 inches wide, this medium-sized table is made of heavy duty steel that ensures long-lasting use and a durable base for all your grilling, cooling, and warming needs. The table has a heat-resistant fire bowl that sits in the center, and has a rust-resistant coating that can hold up to 22 pounds of weight. When you’re building a fire, this means that you can fill the bowl with a large amount of charcoal along the bottom with wooden logs above the log grate, measuring 12.5 inches by 12.5 inches, so you can create a decently-sized roaring fire to stay warm long after the sun has set. For the other two functions — grilling and chilling — there is a BBQ grill insert, which measures 20 inches by 20 inches, so you can roast marshmallows, hot dogs, kebabs, and other foods, or you can use that same fire bowl, fill it with ice, and pack it as a cooler for drinks. The steel frame of the table is supported by four reinforced legs that prevent movement or wobbling, and there are six small holes along the bottom to promote better air circulation when using the table for a fire. Included with the fire table, you receive a fire poker to lift the included mesh cover or adjust a log. The mesh cover provides a clear view of the fire while also protecting onlookers from flying sparks or debris. It also comes with a rain cover for easy storage and to prevent damage from severe weather conditions. Related: Target is selling a $146 lounge chair with four adjustable reclining positions for 52% offThe table provides ample room surrounding the fire bowl for placing items like glasses or food. Rather than placing potentially fragile cups and glasses on the ground you can use the flat table top to keep them secure and out of the way. What to expect from a $100 fire pit table: Pros and consProsQuality construction: The table is made with heavy duty steel, features reinforced legs, and has a rust-resistant, heat-resistant fire bowl in the center.Extremely versatile: This fire pit can also be used as a miniature BBQ grill and cooler bucket/chest. ConsLacks cooler insert: You have to use the fire bowl as the base for the cooler which means it typically needs a deep cleaning beforehand in order to eliminate charcoal mess and residue. Assembly required: It takes a bit of time to build. Shoppers are impressed with the performance and design of this 3-in-1 table. “This fire pit is a fantastic addition to any backyard, providing a cozy and warm gathering spot for family and friends,” one shopper said. The fire bowl sits low so you have a lot of room to stack charcoal and wood or ice if you’re using the fire table as a cooler. The materials are nice and heavy, and assembly is necessary but fairly easy. Shoppers say it works as good in the winter months as it does the summer, and the protective cover is great at keeping rain and snow from damaging it long term. Shop more deals Christopher Knight Home Massey Patio Stone Side Table, $73 (was $86) at TargetCostway 4-Piece Outdoor Acacia Furniture Set, $300 (was $580) at TargetBest Choice Products Folding Adirondack Chair, $67 (was $114) at TargetWith how expensive furniture can be, one would hope that any piece we buy works in more than just one way, and the Costway 3-in-1 Outdoor Fire Table gives you three fun ways to use it at only $100.

Lima Quant, an upgraded version of Ukraine’s Lima jamming system, is claimed to neutralize one of Russia’s most feared weapons.

Guides poisoned terrified tourists, engineered fake helicopter evacuations and fabricated medical records in an extensive fraud.

Bitcoin continued to trade near the $67,000 level just following the strong report.

Starbucks on Thursday rolled out a bonus and tipping program for its employees, and announced a deal that hands off a big slice of its store business in China to an investment firm.

The current boost in E.V. sales is unlikely to last beyond the Iran War, just as 2008 saw a shift away from SUVs—but only for 2 years.

Many potential homebuyers are discouraged as Freddie Mac mortgage rates have crept back up near 6.5%.But in my years of reporting on the housing market, I’ve learned that there’s a lot more to home affordability than mortgage rates. We also need to consider home prices, which are impacted by several factors, including inventory and buyer competition.The latest weekly housing market report from real estate technology company Redfin, which presents data from the previous week, showed how the market has steadily shifted over the last few years — and there’s some good news for buyers as the home-buying season heats up.Median home prices are relatively tameI looked at Redfin’s weekly housing market data for the last four-week period, or Mar. 2-29. The median new listing price for this period was $424,975, a year-over-year increase of 2.47%.The median sale price was $391,000, up 2% since this time last year. While a price increase may seem like bad news, historical data is everything. During this period in 2025 and 2024, year-over-year median sale prices had risen by 2.83% and 4.5%, respectively. Yes, home prices are going up, but they’re inclining more slowly than the past couple of years.What’s the difference between the listing and sales prices? The median listing price refers to the cost of houses put on the market in that four-week period. The median sales price is the final amount that homes sold for at closing in the same timeframe.Related: Redfin reveals change in home sales, housing marketA few years ago, the main reason for the disparity between those two numbers was that houses were selling for much higher than the listing price. During the height of the COVID-19 pandemic, the U.S. was largely a seller’s market, and buyer demand led to bidding wars that drove up the final sale price.Now, it’s the opposite. The difference mostly lies in sellers cutting home prices after listing them.According to the Realtor.com March 2026 Monthly Housing Report, 16.2% of home listings experienced price cuts in March. While that’s significant, it isn’t as drastic as 2025. Year-over-year price cuts were down 1.2%.The Realtor.com data revealed that price cuts were most common in the South (18.4%) and West (17.3%).Homes are selling more quickly than last yearThe weekly Redfin data showed that homes’ median days on the market for the last four-week period has decreased. The last three periods, the median number of days a house was on the market was 63 and 60, hitting 56.5 last week. Now, the median is 53.25 days.This is still 5.75 days longer than the same period in 2025. However, it marks good news for sellers: The number of “stale listings” has decreased since February.A recent Redfin report revealed that over half of homes for sale in February were “stale listings,” meaning they had been on the market for at least 60 days before going under contract with a buyer. But Redfin’s latest data showed the median age of inventory finally dropping below 60 days over the last couple of weeks.More on real estate and the housing market:Fannie Mae’s crypto-backed mortgage move has surprising benefitsRamit Sethi reveals why rent prices are fallingHome-buying costs are 4 times what buyers expectThe number of properties that went off the market in two weeks or less increased during this last four-week period. This refers to homes that went under contract, not ones that were pulled off the market by sellers.The share steadily climbed throughout March and has hit 42.3%. This is a year-over-year increase of 2.3%. It’s also up 0.2% since 2024 and is exactly the same as this period in 2023.So, although homes are generally selling faster than last March, the numbers haven’t changed much in the last few years overall.How Redfin’s data impacts homebuyersThe weekly Redfin data gives hopeful homebuyers insights into what to expect as they begin house hunting. Thankfully, there are several positive takeaways for buyers this week.The rate of home price increases has slowed down. For the most part, buyers don’t have to worry about skyrocketing prices like they did at the height of the COVID-19 pandemic.Median sale prices were lower than listing prices because quite a few sellers have cut listing prices. If a property has been on the market for a long time, you’re more likely to be able to negotiate a lower price.Price cuts depend on your local real estate market. Realtor.com data showed that slashes were more common in the West and South, but less so in the Northeast and Midwest.Houses have been selling more quickly as 2026 progresses, but the rate of sale is slower than or equal to years past. So, competition isn’t necessarily increasing — and this gives you more power as a buyer.Related: Suze Orman shares wealth-building strategy for homeowners