Multiline Retail Department Stores

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  • Hudson's Bay to buy online luxury retailer Gilt Thursday, 7 Jan 2016 | 7:42 AM ET

    Jan 7- Canadian department store operator Hudson's Bay Co has agreed to buy online luxury retailer Gilt Groupe Holdings Inc for about $250 million. Hudson's Bay expects the deal to add about $500 million to its 2016 total sales, the company said on Thursday. Hudson's Bay, which has a market value of about C $3 billion, said it plans to open Gilt shops inside its Saks...

  • Jan 6- Macy's Inc said it would cut jobs and consolidate operations after reporting disappointing holiday sales, highlighting the department store chain's struggles to attract customers. Also, Amazon.com Inc has revolutionized shopping habits, conditioning shoppers to expect deeper discounts than what brick-and-mortar retailers can afford.

  • UPDATE 1-Macy's lowers earnings forecast; to cut jobs Wednesday, 6 Jan 2016 | 4:40 PM ET

    Jan 6- Department store chain Macy's Inc, which lowered its full-year earnings expectations for the second time, said it would cut jobs and consolidate its operations, starting early 2016.. The company said it expects to generate about $400 million in savings beginning this year. Macy's on Wednesday cut its full-year 2015 earnings forecast to $3.85- $3.90 per...

  • LONDON, Jan 6- Britain's John Lewis Partnership maintained its full-year profit guidance thanks to a strong Christmas performance from its department stores which reported robust fashion sales despite a mild start to winter. Next blamed Britain's unusually warm weather in November and December for a sharp slowdown in sales growth. The John Lewis...

  • LONDON, Jan 6- John Lewis Partnership, owner of Britain's biggest department store chain and upmarket grocer Waitrose, maintained its full-year profit guidance after reporting relatively strong Christmas trading. It blamed Britain's unusually warm weather in November and December for a slowdown in sales growth. The Partnership has outperformed rivals...

  • Dec 10- Canadian department store operator Hudson's Bay Co posted a 34 percent rise in quarterly sales, helped by higher same-store sales in North America and Europe and strong online sales. Hudson's Bay also plans to increase sales significantly over the next five years at about 136 Kaufhof stores in Germany and Belgium. Hudson's Bay said on Thursday total...

  • WASHINGTON, Dec 9- Israeli politicians and more than 370,000 Britons urged their governments on Wednesday to bar Donald Trump from their countries after the Republican presidential front-runner said Muslims should be denied entry into the United States. A major chain of Middle East department stores halted sales of the real estate mogul's glitzy " Trump...

  • DUBAI, Dec 9- U.S. presidential candidate Donald Trump's anti-Muslim comments cost him business in the Middle East on Wednesday, with a major chain of department stores halting sales of his glitzy " Trump Home" line of lamps, mirrors and jewellery boxes. Trump Home products, like a "table lamp in antique brass with crystal drops" and a decorative box with a "brilliant...

  • Dec 3- Canadian department store operator Sears Canada Inc said its same-store sales rose 0.4 percent in the third quarter- the first rise in two years- helped by higher sales of major appliances, furniture and mattresses. Toronto- based Sears Canada said on Thursday it was aiming for additional cost savings of C $30 million- C $40 million on an annualized basis in...

  • Dec 3- Sears Holdings Corp reported a smaller quarterly loss on Thursday, helped by cost cuts, but the retailer's sales continued to tumble, hurt by weak apparel and consumer electronics demand. The owner of the Sears department store and Kmart discount store chains said its net loss attributable to shareholders narrowed to $454 million in the third quarter...

  • Sears posts smaller Q3 loss, sales keep sliding Thursday, 3 Dec 2015 | 6:23 AM ET

    Dec 3- Sears Holdings Corp reported a narrower quarterly loss on Thursday as it cut costs, but the retailer's sales continued to tumble, hurt by weak apparel and consumer electronics sales. Sears, which runs the Sears department store and Kmart discount store chains, said its net loss attributable to shareholders came to $454 million in the quarter ended Oct. 31,...

  • SAN FRANCISCO, Dec 2- Short sellers shopping for overpriced stocks snapped up shares of beleaguered department store Macys heading into Black Friday. On Wednesday, the New York- based department store chain fell 1.04 percent. Underscoring concerns on Wall Street, 3.4 percent of Macy's outstanding shares had been shorted in mid-November, up from 2.7 percent a...

  • CHICAGO, Nov 30- U.S. online sales grew 14 percent on Cyber Monday, on track to set a record, leading some retail websites, like Target Corp's, to crash temporarily due to high customer traffic. Website outages and slow checkouts during the five-day shopping spree starting Thanksgiving Thursday, were also reported at PayPal Inc, department store chain Neiman...

  • *Loss-making retailer to exit Russia. *Russia slowdown weighs on Finnish economy, companies. HELSINKI, Nov 27- Loss-making Finnish retailer Stockmann is pulling out of Russia by selling its seven department stores there to a local franchisee of Britain's Debenhams for 5 million euros, it said on Friday.

  • Nov 24- Black Friday comes early to Saks Fifth Avenue stores this year. The luxury retailer, owned by Canadian department store operator Hudson's Bay Co, will start Black Friday sales on Wednesday, Chief Executive Jerry Storch said. Others including Target Corp, J.C. Penney Co Inc and Kohl's Corp have also stepped up promotions and deals as they look to grab a piece...

  • *Cisco's forecast drags on tech stocks. Nov 13- Wall Street fell sharply on Friday and capped off its worst week since the dark days of August, hurt by a selloff in technology companies, while department stores dropped on concerns about the upcoming holiday shopping season. Dow component Cisco dropped 5.8 percent after it gave a flimsy forecast, citing a slowdown...

  • *Cisco's forecast drags on tech stocks. Nov 13- U.S. stock indexes fell sharply on Friday, weighed down by a selloff in technology companies after a disappointing forecast from Cisco, while department stores dropped on concerns about the key holiday shopping season. Dow component Cisco fell 6.4 percent after it gave a weak forecast, citing a slowdown in orders and...

  • Nov 13- Slumping same-store sales at upscale U.S. department store operator Nordstrom Inc could point to more than a glut in retailers' inventories, not just a longer-than-usual spell of warm weather and fewer spendthrift tourists. Trouble at Nordstrom- seen as head-and-shoulder above rivals such as Macy's Inc and cheaper retailers including Kohl's Corp in...

  • *Cisco falls after weak forecast. Nov 13- U.S. stocks were lower on Friday after Cisco's disappointing forecast and as weaker-than-expected October retail sales data and forecast cuts by department store chains fueled fears of a slowdown in demand ahead of the key holiday shopping season. Dow component Cisco fell 5.6 percent to $26.27 after it gave a weak...

  • Nov 13- U.S. stocks opened slightly lower on Friday, weighed down by weak October retail sales data and disappointing forecasts from department store chains as well as Cisco. The Dow Jones industrial average fell 37.95 points, or 0.22 percent, to 17,410.12. The S&P 500 lost 5.33 points, or 0.26 percent, to 2,040.64 and the Nasdaq Composite dropped 24.05 points, or...