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Multiline Retail

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  • UPDATE 1-UK's Poundland cautious on first half outlook Thursday, 18 Jun 2015 | 2:40 AM ET

    LONDON, June 18- British discount retailer Poundland cautioned that it expects trading in the first half of its new financial year to be subdued after sales growth slowed. In all Poundland expects to open at least 60 new stores in the UK and Ireland in the 2015-16 year and continue with a trial in Spain. Shares in Poundland, which listed at 300 pence in March last year...

  • UK's Poundland cautious on first half outlook Thursday, 18 Jun 2015 | 2:18 AM ET

    LONDON, June 18- British discount retailer Poundland met forecasts with a 19 percent rise in annual profit, though the firm cautioned that it expects the first half to be subdued after its sales growth slowed in its new financial year. Poundland said sales for the 11 weeks ended June 14 grew 4.1 percent. Poundland said it expected the seasonally less important...

  • *Hudson's Bay pledges to keep all Kaufhof staff. DUESSELDORF, Germany, June 15- Hudson's Bay Co is buying Germany's leading department store chain, Kaufhof, from Metro for 2.8 billion euros, giving the Saks owner a launch pad to expand into Europe. Hudson's Bay, whose shares rose as much as 13.4 percent, said it would sell at least 40 of Kaufhof's owned or partially...

  • Deep discount retailer Ollie's files for IPO Monday, 15 Jun 2015 | 12:19 PM ET

    June 15- Deep discount retailer Ollie's Bargain Outlet Holdings Inc filed with U.S. regulators on Monday for an initial public offering of common stock. The Harrisburg, Pennsylvania- based company, known for the signature catch phrase "good stuff cheap," has 181 retail stores across the United States. J.P. Morgan, Jefferies, Bofa Merrill Lynch, Credit Suisse and...

  • *Hudson's Bay pledges to keep all Kaufhof staff. DUESSELDORF, Germany, June 15- Hudson's Bay Co is buying Germany's leading department store chain, Kaufhof, from Metro for 2.8 billion euros, giving the Saks owner a launch pad to expand into Europe. Hudson's Bay, whose shares rose as much as 13.4 percent, said it would sell at least 40 of Kaufhof's owned or partially...

  • *Hudson's Bay pledges to keep all Kaufhof staff. DUESSELDORF, Germany, June 15- Canadian retailer Hudson's Bay is buying German department store chain Kaufhof from Metro for 2.8 billion euros as a launch pad to expand into Europe. Hudson's Bay, which operates department stores in Canada and U.S. luxury chains Saks Fifth Avenue and Lord& Taylor, said the deal, due to...

  • June 10- Canadian dollar-store operator Dollarama Inc reported a higher-than-expected quarterly profit on Wednesday as customers spent more per visit, boosting the company's same-store sales. The average check-out bill at Dollarama's stores rose 5.9 percent in the first quarter, with about 73.2 percent of sales being generated from items priced above C...

  • TORONTO, June 10- Target Corp's exit from Canada has helped Hudson's Bay Co pick up Canadian market share, HBC executives said on Wednesday as the department store operator reported higher quarterly sales but a bigger loss. The company, founded in 1670, said overall same-store sales rose 2.7 percent on a constant currency basis, with sales up 4.9 percent at its...

  • June 10- Canadian dollar-store operator Dollarama Inc reported a higher-than-expected quarterly profit on Wednesday as customers spent more per visit, giving a boost to same-store sales. The average check-out bill rose 5.9 percent as customers bought more items priced above C $1, the Montreal- based retailer said on Wednesday. Dollarama had 972 stores at the...

  • UPDATE 1-Hudson's Bay reports bigger adjusted loss Wednesday, 10 Jun 2015 | 7:59 AM ET

    June 10- Department store operator Hudson's Bay Co reported a bigger adjusted loss, mainly due to higher administrative expenses and cost of sales. Hudson's Bay, which also runs Lord& Taylor stores in the United States, has been in high-level talks with Germany's Metro to buy its department store chain, Kaufhof. Hudson's Bay plans to drive sales through...

  • Hudson's Bay reports bigger adjusted loss Wednesday, 10 Jun 2015 | 7:16 AM ET

    June 10- Department store operator Hudson's Bay Co reported a bigger adjusted loss, mainly due to higher administrative expenses and costs of sales. The company reported a net loss of C $54 million, or 30 Canadian cents per share, in the first quarter, compared with a net profit of C $176 million, or 97 Canadian cents per share, a year earlier. Adjusted loss was C $33...

  • SEOUL, June 9- Hyundai Department Store Co Ltd is considering bidding for Tesco Plc's South Korean unit, but nothing has been decided, a Hyundai spokesman said on Tuesday. Troubled British retailer Tesco has hired HSBC to explore a sale of its South Korean operations, valued at about $6 billion, people familiar with the matter told Reuters last week.

  • US STOCKS-Futures lower as rate hike timing weighs Monday, 8 Jun 2015 | 7:45 AM ET

    *Wall Street's top banks said they expect the Fed to begin raising rates in September, followed by another increase before the end of the year, according to a Reuters poll. *Sears Holdings' shares rose 2.85 percent to $41.90 in premarket trading after the department store operator reported a smaller quarterly loss and said it plans to raise $2.6 billion from the...

  • June 8- Sears Holdings Corp reported a smaller first-quarter loss as its Kmart chain and Sears department stores discounted less and said it plans to raise $2.6 billion from the spinoff of 235 stores into a real estate investment trust. This, along with the three joint venture deals Sears signed in April with mall operators to sell and lease back other stores,...

  • Sears quarterly loss narrows Monday, 8 Jun 2015 | 6:25 AM ET

    June 8- Sears Holdings Corp reported a smaller first-quarter loss as its Kmart chain and Sears department stores discounted less. The offering is expected to raise $2.6 billion, Sears said. Net loss attributable to Sears shareholders narrowed to $303 million, or $2.85 per share, in the quarter ended May 2, from $402 million, or $3.79 per share, a year earlier.

  • June 2- Discount retailer Dollar General Corp reported a better-than-expected quarterly profit, helped by higher prices and lower transportation costs. Dollar General's shares rose about 4 percent in light premarket trading. Dollar General's net income rose to $253.2 million, or 84 cents per share, in the quarter ended May 1 from $222.4 million, or 72 cents per...

  • Dollar General's quarterly sales rise 8.8 pct Tuesday, 2 Jun 2015 | 7:13 AM ET

    June 2- Discount retailer Dollar General Corp reported an 8.8 percent rise in quarterly sales, helped by higher demand for tobacco and healthcare products and perishable food items. The company's net income rose to $253.2 million, or 84 cents per share, in the first quarter ended May 1 from $222.4 million, or 72 cents per share, a year earlier. Dollar General's...

  • May 29- Discount retailer Dollar Tree Inc agreed to sell 330 Family Dollar Stores Inc stores to private equity firm Sycamore Partners to get antitrust approval for its $8.5 billion takeover of Family Dollar. Dollar Tree said the stores represent about $45.5 million of operating income for Family Dollar, adding that Sycamore intends to operate the stores...

  • Dreiling, who joined Dollar General as CEO in January 2008, has been credited with making the company the top U.S. deep-discount retailer. Dollar General later made a bid for Family Dollar, which had already agreed to be bought by smaller rival Dollar Tree Inc, sparking off a months-long tussle for the No.2 U.S. discount retailer. Family Dollar's shareholders...

  • May 28- Discount retailer Dollar General Stores Inc said Chief Operating Officer Todd Vasos would replace Rick Dreiling as chief executive, effective June 3.