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Retail Multiline Retail

  • *Macy's, Kohl's Q1 comp sales fall more than expected. May 11- U.S. department store operator Macy's Inc reported a much bigger-than-expected drop in quarterly profit and sales, continuing its uphill struggle to attract customers amid a slump in demand for apparel and the shift towards shopping online. Macy's shares fell as much as 10 percent to $26.40 on...

  • The latest on developments in financial markets:. Macy's plunged 17 percent Thursday after the struggling department store operator reported lower sales as more people shop online. Exxon Mobil gained 0.9 percent.

  • May 11- Department store operator Macy's Inc reported a lower-than-expected quarterly profit, as sales continued to tumble and as higher inventory weighed on margins, and the company's shares dropped 9 percent in premarket trading on Thursday. Net income attributable to Macy's shareholders fell to $71 million, or 23 cents per share, in the quarter ended April...

  • NEW YORK— Lower sales dragged Macy's profit down for the first quarter, highlighting the challenge for retailers as customers shift to more online shopping and store locations lose traffic. Macy's results fell short of Wall Street expectations, and the nation's largest department store chain warned sales will fall further this year. The climate is a big...

  • May 11- Department store operator Macy's Inc reported a 39 percent drop in quarterly profit, hurt by a decline in sales and as higher inventory weighed on margins. The company's shares dropped 7 percent in premarket trading on Thursday. Net income attributable to Macy's shareholders fell to $71 million, or 23 cents per share, in the first quarter ended April 29,...

  • May 11- Department store operator Kohl's Corp reported a better-than-expected quarterly profit, helped by lower costs and a leaner inventory amid a tough retail environment in the United States. Kohl's net income soared to $66 million in the first quarter from $17 million a year earlier, when it recorded a $64 million charge related to impairments and store...

  • *Website to go live on June 6. PARIS, May 10- LVMH is launching a multi-brand e-commerce website inspired by its exclusive Parisian department store Le Bon Marche, as the world's biggest luxury goods group steps up the digital side of its business. LVMH, controlled by French billionaire Bernard Arnault, said the new site would go live on June 6 in more than 70...

  • May 8- Canada's Hudson's Bay Co has hired a debt restructuring adviser to review potential options for combining its business with debt-laden U.S. department store operator Neiman Marcus Group, according to people familiar with the matter. The move is the clearest indication yet that Neiman Marcus' $4.7 billion debt pile poses significant challenges to a...

  • MUNGER SAYS' IT WOULD CERTAINLY BE UNPLEASANT' IF THEY WERE STILL' IN THE DEPARTMENT STORE BUSINESS'.

  • LONDON, May 3- British supermarket Sainsbury's on Wednesday reported a third straight year of underlying profit decline, despite the boost to earnings from last year's purchase of Argos, the general merchandise retailer. Sainsbury's, which trails market leader Tesco in annual sales, also cautioned that it saw no let-up in the intensely competitive UK market...

  • LONDON, May 3- British supermarket Sainsbury's on Wednesday reported a third straight year of underlying profit decline, despite the boost to earnings from last year's purchase of Argos, the general merchandise retailer. Sainsbury's, which trails market leader Tesco in annual sales, made an underlying pretax profit of 581 million pounds in the year to March 11.

  • LONDON, April 20- Debenhams, Britain's second-biggest department store operator, said on Thursday it would return to growth by closing a few stores, revamping the rest and improving its online service, but concerns about the cost sent its shares lower. After a strategic review by new Chief Executive Sergio Bucher, a former Amazon and Inditex executive, the group...

  • TOKYO, April 12- Aeon Co posted a lower-than-expected annual operating profit, but the top Japanese retailer expects results to improve this year as it takes measures to improve profitability and shore up its struggling general merchandise stores. For the year ended Feb. 28, Aeon reported an operating profit of 184.7 billion yen, up 4 percent from a year ago but...

  • DUESSELDORF, Germany, April 7- Canadian department store operator Hudson's Bay Co said on Friday it planned to invest around 400 million euros in Europe this year in a bid to grow its sales there by 20 percent over the next two years. Profits in Europe will grow even faster than sales, the group's Chief Executive Jerry Storch said. Hudson's Bay, the owner of Saks Fifth...

  • NEW YORK, April 5- The default rate among U.S. retailers will jump to 9 percent, equivalent to $6 billion worth of debt, in the next year as consumers keep gravitating to discounters and online shopping, Fitch Ratings said on Wednesday. The rating agency's view came the day after Payless ShoeSource filed for Chapter 11 bankruptcy, raising the sector's default rate...

  • TORONTO, April 5- Canadian department store operator Hudson's Bay Co's said on Wednesday it was aggressively working on fundamental changes in the business to improve performance and further cut costs. "We look to do deals that are accretive for our shareholders," said Chairman Richard Baker from the Netherlands, where the company is planning to open more than a...

  • TORONTO, April 5- Canadian department store operator Hudson's Bay Co's said on Wednesday it was actively working on major changes in the business to improve performance and further cut costs. The owner of Saks Fifth Avenue and Lord& Taylor reported a fourth quarter loss after markets closed on Tuesday. Weak sales, particularly at its Saks OFF 5 TH outlet chain and...

  • TORONTO, April 4- Department store operator Hudson's Bay Co reported a quarterly loss on Tuesday, due in part to an impairment charge related to weak sales at Saks OFF 5 TH and Gilt. The retailer posted a net loss of C $152 million, or 83 Canadian cents per share, in the fourth quarter ended Jan. 28, compared with net income of C $370 million, or C $1.88 per diluted share, a...

  • LAS VEGAS, March 21- Kohl's Corp's chief executive officer said on Tuesday the department store operator needs to "change faster" in order to remain a strong competitor to online and brick-and-mortar retailers. "We aren't as agile as we need to be in order to be a better competitor," CEO Kevin Mansell said at retail conference Shoptalk. The company has been hurt by a...

  • March 16- U.S. discount retailer Dollar General Corp reported a 13.7 percent increase in quarterly sales on Thursday, helped by higher spending at its stores driven by strong demand for home products. Net income rose to $414.2 million or $1.49 per share, in the fourth quarter ended Feb. 3, from $376.2 million or $1.30 per share a year earlier. Net sales rose to $6.01...