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Multiline Retail

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  • Wal-Mart CEO: Pay hike will boost morale Thursday, 19 Feb 2015 | 2:40 PM ET
    An employee rings up sales at a cash register of a Walmart store in Los Angeles.

    Wal-Mart is raising wages because worker pride is vital to running a good retail business, CEO Doug McMillion tells CNBC.

  • Feb 10- Deep-discount retailer Ollie's Bargain Outlet, known for the signature catch phrase "good stuff cheap," is preparing for an initial public offering, according to people familiar with the matter. The Harrisburg, Pennsylvania- based company, which is owned by Chief Executive Officer Mark Butler and private equity firm CCMP Capital Advisors LLC, is working...

  • UPDATE 1-Macy's 2014 profit estimate tops forecast Tuesday, 3 Feb 2015 | 5:13 PM ET

    Feb 3- Department store chain Macy's Inc estimated full-year 2014 profit to be higher than its previous forecast and said it would buy luxury beauty and spa services retailer Bluemercury Inc for $210 million. Jeff Gennette will relinquish his responsibilities as Macy's chief merchandising officer and will be succeeded by Timothy Baxter, who was the...

  • Macy's full-year profit estimate tops forecast Tuesday, 3 Feb 2015 | 4:15 PM ET

    Feb 3- Department store chain Macy's Inc estimated full-year 2014 profit of $4.35- $4.37 per share, higher than its previous forecast of $4.25- $4.35 per share.

  • Nelson Peltz cuts stake in Family Dollar Tuesday, 27 Jan 2015 | 6:25 AM ET

    Jan 27- Activist investor Nelson Peltz's Trian Fund Management LP cut its stake in Family Dollar Stores Inc to 2.07 percent from 7.3 percent. Trian Management sold about 6 million shares of the discount retailer, the hedge fund said in a regulatory filing on Tuesday. Family Dollar's shareholders approved an $8.5 billion deal last week to be bought by Dollar Tree...

  • Jan 22- Dollar General Corp could make smaller acquisitions and build its store footprint to better compete with Dollar Tree Inc, which is poised to become the largest discount retailer after its acquisition of Family Dollar Stores Inc.. On Thursday, Family Dollar shareholders approved a cash-and-stock deal to be bought by Dollar Tree for $8.5 billion,...

  • Russian retailer O'Key hit hard by downturn, food ban Thursday, 22 Jan 2015 | 9:21 AM ET

    MOSCOW, Jan 22- Russian food retailer O'Key said on Thursday its fourth quarter like-for-like sales fell 5 percent because of a sharp drop in customer traffic. Russia banned some food imports from the West in August for one year in retaliation to Western sanctions over Moscow's role in the Ukraine crisis. Unlike Magnit and X5, which operate large discount chains,...

  • NEW YORK, Jan 21- Family Dollar Stores Inc shareholders will vote on Thursday on an agreement to be bought by fellow discount retailer Dollar Tree Inc, possibly putting an end to a months-long tussle with Dollar General Corp.. Traders in the options market appear to be betting on a Dollar Tree win and have been positioning for Dollar General shares to come under...

  • TORONTO, Jan 15- Target Corp will exit the Canadian market after less than two years in a surprise retreat that will throw more than 17,000 employees out of work and trigger a $5.4 billion quarterly loss. Minneapolis- based Target, the No. 2 discount chain in the United States, has struggled in Canada since its March 2013 launch. Stores checked by Reuters in Vancouver,...

  • UPDATE 3-In surprise move, Target to pull out of Canada Thursday, 15 Jan 2015 | 12:18 PM ET

    TORONTO, Jan 15- Target Corp will abandon its ill-fated expansion into Canada less than two years after launch, the U.S. discount retailer said on Thursday, in a surprise retreat that will put more than 17,000 employees out of work and cost it billions. Minneapolis- based Target, the No. 2 discount chain in the United States, has struggled in Canada since its 2013...

  • UPDATE 2-In surprise move, Target to pull out of Canada Thursday, 15 Jan 2015 | 10:23 AM ET

    TORONTO, Jan 15- Target Corp will abandon its ill-fated expansion into Canada less than two years after its launch, the U.S. discount retailer said on Thursday in a surprise full retreat that will put more than 17,000 employees out of work and cost the company billions in writedowns. Target's shares rose 3 percent in midmorning trading after the company said it...

  • WASHINGTON, Jan 9- Some 20 state attorneys general have joined the federal antitrust investigation of competing bids by Dollar General Corp and Dollar Tree Inc to buy Family Dollar Stores Inc, a development that potentially complicates the companies' efforts to win U.S. approval for a deal. Family Dollar, the No. 2 U.S. discount retailer, had previously disclosed...

  • LONDON, Jan 8- Marks& Spencer missed Christmas sales forecasts, hit by delivery problems at its online business and raising fresh questions about chief executive Marc Bolland's turnaround strategy for Britain's biggest clothing retailer. The 131- year-old mainstay of Britain's shopping streets said on Wednesday same-store sales of general merchandise,...

  • LONDON, Jan 8- Marks& Spencer posted a worse than expected 5.8 percent drop in underlying sales of clothing, gifts and homeware in its Christmas quarter, exacerbated by online delivery problems. The performance was a fourteenth consecutive quarterly decline in general merchandise sales for the British retailer, far underperforming analyst expectations for...

  • In a first glimpse of how the season shaped up for major retailers, JC Penney Company Inc reported on Tuesday comparable store holiday sales growth of 3.7 percent, surprising investors and driving the struggling department store operator's stock up 16.6 percent. JC Penney would not comment on what impact gas prices had on its results. The impact is expected to...

  • Jan 6- Department store operator J.C. Penney Co Inc said same-store sales rose 3.7 percent in November and December, boosting its shares and offering a glimpse of what is expected to be the best holiday season for retailers since 2011.. Brian Sozzi, head of Belus Capital Advisors, said investors had been overly bearish on J.C. Penney's prospects and...

  • Jan 6- Department store operator J.C. Penney Co Inc said same-store sales for November-December rose 3.7 percent, offering a glimpse of what is expected to be the best holiday season for retailers since 2011.. Shares of J.C. Penney, which showed signs of a rebound this year after a failed attempt to move upmarket, jumped 20 percent in extended trading.

  • Jan 6- Department store operator J.C. Penney Co Inc said it expected fourth-quarter comparable store sales growth at the upper end of its previous forecast of 2-4 percent, sending its shares up 15 percent in extended trading.

  • Family Dollar, the second largest U.S. discount retailer, said it adjourned the meeting as there were not enough votes to adopt the Dollar Tree agreement. Family Dollar agreed to be acquired by Dollar Tree for $8.5 billion in cash and stock after twice rejecting higher all-cash bids from bigger rival Dollar General Corp, citing antitrust concerns.

  • Last U.S. holiday shopping weekend off to solid start Saturday, 20 Dec 2014 | 3:57 PM ET

    CHICAGO/ NEW YORK, Dec 20- Shoppers filled up malls and department stores on the last weekend before Christmas, as the weather cooperated to help raise the prospect of a solid finish to a holiday season that has so far produced mixed results. Crowds were building at stores in and around New York, Philadelphia, Chicago and Los Angeles by midday on Saturday.