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Retail Multiline Retail

  • *Oil hit a three-week high after top exporter Saudi Arabia and Russia said supply cuts needed to last into 2018, a step towards extending an OPEC- led deal to support prices for longer than originally agreed. *Wall Street slipped on Friday, ending the week lower as tepid economic data weighed on banks and worries deepened over department stores.

  • May 12- Wall Street slipped on Friday, ending the week lower as tepid economic data weighed on banks and worries deepened over Nordstrom and other department stores. Risk-averse sentiment gripped Wall Street this week after President Donald Trump unexpectedly fired his FBI chief, the potential fallout from which could delay Trump's pro-growth goals to cut...

  • May 12- The S&P 500 and the Dow slipped on Friday as tepid economic data weighed on banks and worries deepened over Nordstrom and other department stores.

  • May 12- Wall Street fell on Friday and was on track to end the week lower as tepid economic data weighed on banks and worries deepened over Nordstrom and other department stores. A risk-off sentiment gripped Wall Street this week after President Donald Trump unexpectedly fired his FBI chief, the potential fallout from which could delay Trump's pro-growth...

  • TORONTO, May 12- Shares of Hudson's Bay Co, the owner of luxury department store chain Saks Fifth Avenue, slumped more than 6 percent on Friday after the retailer reported disappointing quarterly same-store sales. After markets closed on Thursday, Toronto- based Hudson's Bay said comparable store sales in all its brands fell 2.9 percent during the first quarter...

  • Penny's net sales dropped 3.7 percent to $2.71 billion, declining for the third straight quarter and just short of the average analyst estimate of $2.77 billion, according to Thomson Reuters I/B/E/S. Sales at clothing stores fell 0.5 percent in April, while sales at online retailers, such as Amamzon.com Inc, jumped 1.4 percent, according to data released by the...

  • Penney's net loss widened to $180 million, or 58 cents per share, in the quarter ended April 29, from $68 million, or 22 cents per share, a year earlier. Excluding items, the company earned a profit of 6 cents per share, helped by higher selling margins and lower costs of marketing and incentive compensation. Net sales fell 3.7 percent to $2.71 billion, declining for the...

  • May 12- Department store operator J.C. Penney Co Inc's quarterly loss more than doubled, hurt by weak sales in February and higher costs related to store closures and employee severance packages. Net loss widened to $180 million, or 58 cents per share, in the first quarter ended April 29, from $68 million, or 22 cents per share, a year earlier.

  • May 11- Nordstrom Inc on Thursday became the latest department store operator after Macy's and Kohl's to report weaker-than-expected quarterly same-store sales, underscoring the industry's struggle to attract customers amid a slump in demand for apparel and a shift to shopping online. Nordstrom's shares, which closed down 7.6 percent at $46.21 in regular...

  • May 11- U.S. stocks fell on Thursday after worse-than-expected sales drops at Macy's and Kohl's sparked a selloff in shares of department stores and stirred fears that consumers are not spending enough to drive strong economic growth. Kohl's dropped 7.86 percent after it reported a drop in quarterly sales, while shares of Nordstrom and J.C.

  • NEW YORK, May 11- U.S. stocks ended lower on Thursday after worse-than-expected sales drops at Macy's and Kohl's sparked a selloff in department store shares and stirred fears that consumers are not spending enough to drive strong economic growth.

  • May 11- Macy's year-old strategy of opening its Backstage off-price chain within its existing department stores drives traffic into the main store, the retailer said on Thursday, but analysts said the move confuses customers and could hurt Macy's longer-term results. Backstage discount stores sell excess and off-season inventory at steep discounts and...

  • May 11- U.S. stocks fell on Thursday after worse-than-expected sales drops at Macy's and Kohl's sparked a selloff in shares of department stores and stirred fears that consumers are not spending enough to drive strong economic growth. Kohl's dropped 6.2 percent after it reported a drop in quarterly sales, while shares of Nordstrom and J.C.

  • *Macy's, Kohl's sales fall more than expected. *Inventory levels up at Macy's, down at Kohl's. May 11- Macy's and Kohl's reported bigger-than-expected declines in sales in the latest quarter, underscoring department store operators' continued struggle to attract customers amid a slump in demand for apparel and the shift to shopping online.

  • *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...

  • 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...

  • 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...