Retailers from Walgreen Co. to Macy’s Inc. kept stores shuttered in hard-hit New York and New Jersey while reopening some other East Coast locations as they worked to assess the damage to their shops and sales.
Hurricane Sandy is threatening to reduce sales of clothing and holiday gifts during one of the most important shopping months of the year, while benefiting supermarkets and home-improvement stores such as Home Depot Inc.
An investor group led by Cerberus Capital Management LP is nearing a deal to acquire some of grocery chain Supervalu Inc.’s assets and become a shareholder in the remaining public company, said three people familiar with the matter.
Louis Holland had five employees at his carpentry business in Walkersville, Maryland, during the housing boom. Now he’s working alone, and his family has joined many local residents collecting food stamps.