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Retail Multiline Retail

  • *Stores being closed account for less than 5 pct of annual sales. *Q4 comp sales drop 0.7 pct vs est -0.5 pct. Feb 24- Department store operator J.C.

  • Feb 24- Department store operator J.C. "We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of online retailers," Chief Executive Officer Marvin Ellison said in a statement. Penney said it expected annual savings of about $200 million from the cost-cutting measures, and would take a related...

  • Feb 24- Department store operator J.C. Penney Co Inc said on Friday it would close about 130-140 stores over the next few months, and reported a 0.7 percent drop in same-store sales for the holiday quarter. Penney's net sales fell 0.9 percent to $3.96 billion in the fourth quarter ended Jan. 28, declining for the third time this year.

  • The owner of luxury retail chain Saks Fifth Avenue said its consolidated comparable sales fell 1.2 percent on a constant currency basis during the fourth quarter ended Jan. 28. Sales rose 0.6 percent at its department store banners, which include Hudson's Bay and Lord& Taylor, and 0.1 percent at Saks Fifth Avenue. Last month, Hudson's Bay stock tumbled more than 20...

  • Nordstrom Inc., the department store recently scolded by President Donald Trump, reported a better-than-expected quarterly profit with help from strong sales online and at Nordstrom Rack. The Seattle- based chain said Thursday that it earned $201 million, or $1.15 per share, for the fourth quarter that ended Jan. 28. That exceeds the $1.13 per share that...

  • *Q4 profit $1.44/ shr vs est $1.33. Feb 23- Department store operator Kohl's Corp followed larger rival Macy's Inc in reporting a better-than-expected profit for the holiday quarter, as lower inventories helped the company avoid deep discounting. "We've really dramatically reduced inventories this year so our clearance levels and fall transitional...

  • FLORIDA, N.Y.— Discount retailer Dollar General says it has chosen a site near the New York State Thruway in the Mohawk Valley for a distribution center that will employ more than 400 people. The Goodlettsville, Tennessee- based company announced Wednesday that it will construct a 750,000- square-foot building in the Montgomery County town of Florida, 30 miles...

  • A cashier completes a purchase at a Walmart store in Burbank, California.

    Using hedge fund analytics tool Kensho, CNBC conducted a study to find out which retailers tend to fare best after Wal-Mart tops earnings expectations.

  • TJX Cos. said Wednesday it will add 1,800 stores for a global total of 5,600 over the long term. It now has more than 3,800 stores with annual sales of $33.1 billion, compared to just under 2,800 stores with $21.9 billion in sales six years ago. Traditional department stores like Macy's are testing the off-price concept as they look to bolster sales, but they're also...

  • NEW YORK— Macy's, the nation's largest department store chain, says its earnings for the quarter that includes the holiday period dropped nearly 13 percent as results were dragged down by lower sales, store closures and other costs. The profit results beat Wall Street expectations, but Macy's said it would post another year of sales declines for a key revenue...

  • Feb 21- Department store operator Macy's Inc reported a bigger-than-expected drop in quarterly sales as low demand for apparel and competition from online rivals hurt traffic in its stores. The owner of the Macy's and Bloomingdale's chains said net income attributable to its shareholders fell to $475 million, or $1.54 per share, in the fourth quarter ended...

  • READING, Pa.— Albert Boscov was the ebullient public face of a department store chain he built from a single corner store in downtown Reading to a regional powerhouse with dozens of locations in seven states and more than $1 billion in annual sales. The retailer's footprint is expanding— albeit slowly— at a time when major national competitors like Macy's are...

  • WASHINGTON/ CHICAGO Feb 8- President Donald Trump blasted department store chain Nordstrom Inc on Wednesday for dropping his daughter Ivanka's clothing line, prompting critics to accuse him of misusing public office to benefit his family's sprawling business empire. After Trump's highly unusual move to use a White House platform to intervene in a...

  • I'm going to go get some myself today, "Conway told Fox News in an interview from the White House. The White House and the OGE did not respond to requests for comment. On Wednesday President Trump attacked department store chain Nordstrom Inc for dropping his daughter's products, drawing intense criticism for using a White House twitter platform to intervene in a...

  • WASHINGTON, Feb 9- A top aide to U.S. "Go buy Ivanka's stuff," Trump senior adviser Kellyanne Conway told Fox News in an interview from the White House. On Thursday, Ivanka's brand was thrust again into the headlines after her father attacked department store chain Nordstrom Inc in a highly unusual move using a White House twitter platform to intervene in a...

  • WASHINGTON, Feb 9- A top aide to U.S. "Go buy Ivanka's stuff," Trump senior adviser Kellyanne Conway told Fox News in an interview from the White House. On Thursday, Ivanka's brand was thrust again into the headlines after her father attacked department store chain Nordstrom Inc in a highly unusual move using a White House twitter platform to intervene in a...

  • WASHINGTON/ CHICAGO Feb 8- President Donald Trump blasted department store chain Nordstrom Inc on Wednesday for dropping his daughter Ivanka's clothing line, prompting critics to accuse him of misusing public office to benefit his family's sprawling business empire. After Trump's highly unusual move to use a White House platform to intervene in a...

  • WASHINGTON, Feb 8- President Donald Trump blasted department store chain Nordstrom Inc on Wednesday for dropping his daughter Ivanka's clothing line, prompting critics to accuse him of misusing public office to benefit his family's sprawling business empire. After Trump's highly unusual move to use a White House platform to intervene in a commercial...

  • Feb 6- Eastern Outfitters LLC, the parent of discount chain Bob's Stores and outdoor retailer Eastern Mountain Sports, filed for bankruptcy protection on Sunday, the latest U.S. retailer to do so amid increased competitive pressure facing the sector. Eastern Outfitters listed assets and liabilities in the range of $100 million to $500 million, according to...

  • The retailer, which is headquartered in Chile and has operations throughout South America, is controlled by Chile's Paulmann family. Improved regional economic prospects, especially in Argentina, Brazil and Peru, will also help buttress Cencosud's business units, it said. Cencosud runs the Jumbo supermarkets, Paris department store and Easy home...