Three things for April 12
1. Kmart stores near extinction
American retailer, Kmart, nears extinction as more stores close nationwide.
One of the last few stores still open is set to close on April 16 in Avenel, New Jersey.
“Once it shutters, the number of Kmarts in the U.S. — once well over 2,000 — will be down to three in the continental U.S. and a handful of stores elsewhere, according to multiple reports, in a retail world now dominated by Walmart, Target and Amazon,” reports AP News.
This follows a growing trend of failing department stores in the United States. Kmart once sold products endorsed by big names such as Martha Stewart, Jaclyn Smith and NASCAR; however, AP News reports the store had to file for bankruptcy in 2002 because they struggled “to compete with Walmart’s low prices and Target’s trendier offerings.”
“You’re always thinking about it because stores are closing all over, but it’s still sad,” said cashier Michelle Yavorsky, who said she has worked at the Avenel store for 2.5 years. “I’ll miss the place. A lot of people shopped here.”
2. Baby eels reach pre-pandemic value
On Monday April 11, the Maine Department of Marine Resources reported the price of baby eels has returned to pre-pandemic value.
According to AP News, baby eels are one of the most lucrative wild fish species in the U.S.
“Fishermen are selling the baby eels for $2,110 per pound at docks,” reports AP News. “Value for the eels sank to $525 per pound in 2020, when the COVID-19 pandemic upset markets, before rebounding to more than three times that last year.”
The eels are valuable because they’re needed by Asian aquaculture companies, according to AP News.
The eels are grown to maturity and used as feed for seafood. The fish fed with the eels are then used to supply fish for sushi at Japanese restaurants internationally.
3. New York’s fearless girl statue remains for now
On Monday, New York’s city board decided the Fearless Girl statue will remain for another year as city officials wrestle with a permanent disposition for the popular symbol of female empowerment.
According to AP News, the bronze statue was originally placed in front of the Charging Bull statue in 2017 before being moved opposite the New York Stock Exchange in 2018.
The Public Design Commission granted an 11-month extension for the Fearless Girl Statue placement as the city attempts to gain ownership of the statue.
“The statue of a spunky young girl was supposed to be a temporary installation when State Street commissioned it in 2017 to urge higher representation of women on corporate boards, but permits to keep it on display were extended several times once it became a major tourist attraction,” reports AP News.
Fearless Girl was commissioned by local advisors and created by Kristen Visbal in 2017, and it has continually attracted tourists since its reveal; however, the piece cannot become a permanent attraction until the city takes possession of the piece.
