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Retail Multiline Retail

  • NASHVILLE, Tenn.— A U.S. Supreme Court action this week in a labor case involving Macy's department store workers should persuade Volkswagen to drop its legal challenges to the United Auto Workers' representation of skilled-trades workers at German automaker's lone U.S. plant in Tennessee, union officials said Thursday. Macy's made much the same arguments in...

  • June 15- Dollar Tree Inc's plan to more than quadruple its store count in Canada, as it fights rising competition and slowing sales growth back home, is fraught with risks and will pit it against a formidable rival- market leader Dollarama. Chesapeake, Virginia- based Dollar Tree, which operates 226 stores in Canada, said in March it planned to open 1,000 stores in...

  • WASHINGTON— Americans cut spending at gasoline stations, department stores and electronics shops in May as retail sales registered their biggest drop in 16 months, a cautionary sign for the economy. The Commerce Department said Wednesday that retail sales dropped 0.3 percent, the first decline since February and the sharpest since a 1 percent decrease in...

  • June 13- U.S. department store operator Neiman Marcus said on Tuesday it had ended talks regarding a partial or full sale of the company, three months after embarking on a review of strategic alternatives under the weight of a $4.8 billion debt load. Talks between Neiman Marcus and its suitor Hudson's Bay Co, the owner of high-end department store Saks Fifth...

  • TORONTO, June 9- Canadian retailer Hudson's Bay Co said on Friday it was streamlining operations across its various department store chains to better compete in what it called a "brutal" market. The 347- year-old company, known as HBC, announced jobs cuts across North America late on Thursday. HBC operates Hudson's Bay, Lord& Taylor, Saks Fifth Avenue and other...

  • June 9- A group of Nordstrom Inc family members is talking to buyout firms about raising $1 billion to $2 billion in equity to fund a potential bid to take the U.S. department store operator private, according to people familiar with the matter. Nordstrom said on Thursday the family group, which owns 31.2 percent of the 116- year-old retailer, was studying ways to...

  • HBC, which operates Hudson's Bay, Lord& Taylor, Saks Fifth Avenue and other chains, plans to decrease its number of vendors, centralize store operations and move toward a "shared services" structure to standardize processes across department stores. The shares tumbled C $1.08, or 11.2 percent, to C $8.55, and earlier touched a record low of C $8.44.

  • CHICAGO/ NEW YORK, June 8- Nordstrom Inc's founding family could face a drawn-out search for backers to help it take the retailer private as investors shy away from brick-and-mortar department stores under assault from Amazon.com Inc and other online competitors. Any plan to go private would likely require the company to raise as much as $4.5 billion in...

  • Shares of the Seattle- based company jumped as much 18 percent in their biggest intraday percentage gain since February 2009. It now has a market value of about $7.4 billion. In a filing with the U.S. Securities and Exchange Commission, the department store operator said the group formed to consider going private had not yet made a formal proposal.

  • June 8- Department store operator Nordstrom Inc said on Thursday that some members of the controlling Nordstrom family have formed a group to consider taking the company private as it struggles with an industry-wide slowdown in sales. Shares of the company, which had a market value of $6.72 billion as of Wednesday closing, jumped as much 18 percent in their...

  • June 8- Department store operator Nordstrom Inc said on Thursday that some members of the controlling Nordstrom family have formed a group to consider taking the company private. Shares of the company, which had a market value of $6.72 billion as of Wednesday closing, rose 16.5 percent in premarket trading. The company, however, said the group had not made a formal...

  • TORONTO, June 7- Canadian department store operator Hudson's Bay Co has not yet applied for a Montreal city permit to transform a historic downtown property into a Saks Fifth Avenue store, a government official said on Wednesday, raising prospects the luxury chain could miss its targeted fall 2018 launch. The retailer, which reports first quarter results on...

  • HONG KONG, June 7- New World Department Store China Ltd said its parent firm plans to take it private for HK $934.5 million, so that it can better tackle a challenging operating environment and take risks in implementing strategy. Property developer New World Development Co Ltd, which owns 72.29 percent of New World Department Store, is offering HK $2 apiece for...

  • WASHINGTON, June 6- U.S. discount retailer Dollar Tree Inc has filed a lawsuit against Dollar Express which was unsealed on Tuesday, alleging that the smaller company's private equity owners siphoned off funds and failed to pay for $50 million in goods and services. Dollar Express was formed in 2015 when Sycamore Partners II LP bought some 330 stores in 35 states...

  • WASHINGTON, June 6- U.S. discount retailer Dollar Tree Inc filed a countersuit against Dollar Express on Tuesday, alleging that the smaller company's private equity owners siphoned off funds and failed to pay for $50 million in goods and services. Dollar Express was formed in 2015 when Sycamore Partners II LP bought some 330 stores in 35 states from Family...

  • CHICAGO, June 6- Macy's Inc margins could end the year as much as 80 basis points lower than in 2016, Chief Financial Officer Karen Hoguet warned on Tuesday in comments that sent shares of the department store chain sliding to five-year lows, and also pressured other retail stocks. Macy's, an American retail icon that also owns luxury chain Bloomingdale's, has...

  • WASHINGTON, June 2- U.S. discount retailer Dollar Express has filed a lawsuit accusing rival Family Dollar and its parent company Dollar Tree Inc of driving it out of business, the third government-required divestiture to fail in recent years. Dollar Express was formed in 2015 when private equity group Sycamore Partners II LP bought some 330 stores in 35 states...

  • CHICAGO, May 18- Wal-Mart Stores Inc on Thursday reported higher-than-expected quarterly sales at established U.S. stores, as investments to bring more customers into the discount retailer paid off and a bigger push into e-commerce boosted online purchases, sending its shares flirting near a 52- week high. Wal-Mart and analysts said the company is...

  • CHICAGO, May 18- Wal-Mart Stores Inc on Thursday reported higher-than-expected quarterly sales at established U.S. stores, as a huge investment to bring more customers into the discount retailer paid off and a bigger push into e-commerce boosted online purchases, sending its shares to a 52- week high. "Wal-Mart's long string of investments in labor and...

  • CHICAGO, May 18- Wal-Mart Stores Inc on Thursday reported higher-than-expected quarterly sales at established U.S. stores, as more customers visited the discount retailer and its e-commerce push boosted online purchases, sending its shares up 1.3 percent in early trade. Wal-Mart's strong results show the retailer is benefiting from its $2.7 billion...