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Gap, JCPenney, and Victoria’s Secret announced more than 300 store closures over the course of 24 hours this week.

All three companies reported declining same-store sales during the critical holiday period.

Gap, JCPenney, and Victoria’s Secret announced more than 300 store closures over the course of 24 hours this week, sending a clear signal that the fallout from the retail apocalypse is far from over.

Gap said Thursday that it would close 230 namesake stores in the next two years, as it reported that the brand’s same-store sales fell 7% during the holiday quarter. The company also said it would spin off its Old Navy brand.

Earlier in the day, JCPenney said it would close 27 stores in 2019, including 18 full-line department stores and 9 home and furniture stores. The department store chain said same-store sales fell 4% during the fourth quarter.

Victoria’s Secret’s same-store sales also fell during the holidays, dropping 3% during the quarter. The company said late Wednesday that it would close 53 stores this year, citing a “decline in performance.”

Foot Locker announced Friday that it plans to close around 165 stores across the country, during its investor call.

These announcements will bring the number of planned store closures this year to nearly 4,500.

Michael Cohen, President Donald Trump’s former lawyer, testified on Wednesday before the House Oversight Committee, and his opening statement contained a multitude of credible allegations against # 45. Trump instructed Cohen to arrange for a straw bidder to purchase a portrait of Trump and repaid the bidder with $60,000 Read More

Vinnie Johnson was the longtime sixth man for the NBA’s Detroit Pistons. He was a fan favorite. He played 10 seasons in Detroit and was a part of the 1989 and 1990 NBA Championship teams. For most people, that career would be the pinnacle of success Read More

Bill Traylor is a self-taught artist born in Alabama in a 1854.

His life spanned slavery, Reconstruction and Jim Crow- he never lived to experience any civil rights or freedoms that white Americans were handed at that time. Read More

A Detroit man who served 45 years behind bars for a crime that he didn’t commit, is forced to sell his personal collection of artwork that he made in prison. Richard Phillips, 72, Read More

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Mark Luckie, a digital strategist and former journalist, says he accepted the job offer from Facebook reluctantly.

At first, he didn’t want to move to Silicon Valley from Atlanta, where he had been living, but he said his fiance was able to persuade him, telling him that the job presented an opportunity to make a difference on the influential social network.

“I was really excited. Facebook is an amazing company that reaches a lot of people,” Luckie, 35, said in an interview with The Washington Post. “I didn’t plan to leave.” Read More

What does it mean to scale a business?

Scale‘ is increasingly being used as shorthand for ‘scale up’ (“to grow or expand in a proportional and usually profitable way”) and as a noun that means “proportional growth especially of production or profit” and/or “a large market position.”

Here are 5 steps to Scaling a business in 2018: 

  1. Evaluate and Plan. Take a hard look inside your business to see if you are ready for growth
  2. Find the Money. Invest.  Scaling a business doesn’t come free
  3. Secure the Sales. 
  4. Invest in Technology.  
  5. Find Staff or Strategically Outsource.

As part of Crime & Punishment season, Gordon Ramsay goes behind the lines of the Colombian cartel to discover how cocaine is produced deep in the jungle.

Happy birthday to the phenomena that has brought us all here today: the internet.

The internet has come a long way in the last 49 years, since its inception as a link between 2 computers. Now, billions of devices are linked together across the world.

The inventor of the World Wide Web, a collection of web pages that can be accessed via the internet, recently said the internet is broken.

Source: CNBC

David Hockney "Portrait of an Artist"