Here's what we are reading this morning:
G-lll Apparel Group Closing All Wilsons Leather and G.H. Bass stores – WWD
Ascena Reportedly Retains Kirkland & Ellis, Guggenheim Securities and Alvarez & Marsal | Retail Dive
Simon Property, biggest U.S. mall owner, sues Gap over skipped rent
US Labor Department: Unemployment Insurance Weekly Claims Initial claims were 1,877,000 for the week ending 5/30 (-249,000). Insured unemployment was 21,487,000 for the week ending 5/23 (+649,000).
U.S. exports plummeted 20.5% in April while Imports declined 13.7% from the month before, expanding the country’s trade deficit to $49.41 billion. - WSJ
U.S. Car Rental Bankruptcies May Further Pressure Used Car Prices - News | ABL Advisor
For the fastest signal of U.S. hiring trends, try looking at small firms | LinkedIn
Rival J.C. Penney Lenders Reach Bankruptcy Financing Deal - WSJ
JC Penney announces 154 stores set to close this summer. Here's a map.