Forever 21 fashion, once a fast-fashion staple, files for bankruptcy for a second time
CBSN
Forever 21's U.S. retail operator has filed for bankruptcy, the second time for the brand, which has been battered by diminishing mall traffic, inflation and online competition.
The company said it stores and website in the U.S. would stay open for the time being, but that it would start to wind down its U.S. business.
"While we have evaluated all options to best position the company for the future, we have been unable to find a sustainable path forward, given competition from foreign fast-fashion companies, which have been able to take advantage of the de minimis exemption to undercut our brand on pricing and margin," Brad Sell, CFO of F21 OpCo said Sunday in a statement.
Washington — President Trump claimed late Sunday that preemptive pardons former President Joe Biden granted to members of the House select committee that investigated the Jan. 6, 2021, assault on the U.S. Capitol are "void" and "vacant" because they were allegedly signed with an autopen.
President Trump said he plans to speak to Russian President Vladimir Putin on Tuesday about ending the war in Ukraine after three years of fighting sparked by Russia's full-scale invasion of its neighbor.
Forever 21's U.S. retail operator has filed for bankruptcy, the second time for the brand, which has been battered by diminishing mall traffic, inflation and online competition.
Retail sales around the U.S. rose a modest 0.2% in February, missing forecasts amid fears that the economy is slowing, new government data shows.
Johannesburg — The Trump administration expelled South Africa's Ambassador Ebrahim Rasool on Friday, giving him 72 hours to leave the country. In a social media post, Secretary of State Marco Rubio called Rasool a "race-baiting politician who hates America" and President Trump.
Protesters gathered across Mexico on Saturday to demand justice following a grisly discovery of charred bones, shoes and clothing at a suspected drug cartel training ground.
Watching your 401(k) plan savings recede as stocks slide can be gut-wrenching, sparking anxiety about whether you'll ever be able to retire — a particularly loaded issue for Gen Xers, given the oldest members of the generation are hitting 60 this year.
While St. Patrick's Day celebrations often produce images of T-shirts donning "Kiss me, I'm Irish," leprechaun hats and pubs full of people, the holiday holds a deeper meaning.
President Donald Trump is expected to visit the Kennedy Center for a board meeting on Monday, two sources familiar with the planning tell CBS News
UCLA is the top overall seed in the women's NCAA Tournament. The Bruins were joined by South Carolina, Southern California and Texas as the No. 1 seeds that the NCAA revealed Sunday night.
A sleepy Selection Sunday this was not.
The Trump administration and Israel approached the governments of Sudan and Somalia, and have also been interested in Syria, as potential places to resettle Palestinians from Gaza, according to three sources familiar with the effort.
On this "Face the Nation with Margaret Brennan" broadcast, moderated by Margaret Brennan: