Rundown: Return fraud on the rise, Nordstrom going private and Big Lots' lifeline

The Modern Retail Podcast

On this week's Modern Retail Rundown episode, the staff discusses several updates coming off of 2024. First up, a new report from Appriss shows that fraudulent returns totaled $103 billion last year out of a total of $685 billion in retail returns. Nordstrom announced it will go private through a buyout by the Nordstrom family in partnership with Mexican retailer El Puerto de Liverpool. And just days after Big Lots began liquidating its stores, the retailer received a lifeline from investment firm Gordon Brothers Retail Partners to help keep between 200 and 400 of its stores open.