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

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.