Retail Multiline Retail

  • Macy's Inc. said Wednesday it is selling the store, ending more than a century of department store retailing in the heart of Minnesota's largest city. Minneapolis City Council President Barb Johnson says Macy's representatives cited changing shopping habits and slumping sales for the store's closure. For decades the property was the headquarters and...

  • Dec 22- A racist, expletive-filled rant caught on camera at a Louisville, Kentucky, mall has led to a permanent ban for a shopper and prompted an apology from the city's mayor. The video shows a white woman standing in a checkout line at a JCPenney department store in the Jefferson Mall and berating two women who shopper Renee Buckner, who posted the footage on...

  • *Expected to open 120-150 stores on East Coast. BERLIN, Dec 13- German discounter Lidl, which has expanded rapidly in Europe to become one of the continent's biggest retailers, has started a recruitment drive in the United States anticipating a launch there in 2017 or 2018.. Lidl, which runs more than 10,000 stores in 27 countries in Europe, is expected to open its...

  • *Lidl expected to open 120-150 stores on East Coast. BERLIN, Dec 13- German discounter Lidl, which has expanded rapidly in Europe to become one of the continent's biggest retailers, has started a recruitment drive in the United States ahead of its expected launch in the country in 2017 or 2018.. Lidl, which runs more than 10,000 stores in 27 countries in Europe, is...

  • *Expanding in fast-growing eastern Europe. Steinhoff, on its own spending spree for no-frills furniture and general merchandise assets in Europe, bought Poundland for $800 million, a deal analysts said would be a prelude to an overhaul at the British retailer. "Management is quite confident that a multi-pricepoint and a different mix of product is definitely...

  • The Montreal- based retailer opened 18 stores in the third quarter ended Oct. 30, bringing the total number of stores to 1,069.. Dollarama's general, administrative and store operating expenses rose about 5.3 percent to C $116.97 million. The company's net income rose to C $110.06 million, or 92 Canadian cents per share, in the quarter, from C $100.08 million, or 78...

  • Dec 5- Canadian department store operator Hudson's Bay Co reported a 28.6 percent rise in quarterly sales, helped by its expansion in Europe and the acquisition of online retailer Gilt. The company's consolidated retail sales increased to C $3.30 billion in the quarter ended Oct. 29, from C $2.57 billion a year ago. The retailer reported a net loss of C $125 million...

  • PARIS, Dec 5- French department store chain Galeries Lafayette said the start of the Christmas shopping season at its main Galeries Lafayette and BHV stores in Paris was "encouraging", with footfall and revenue up over the last two weekends. Galeries Lafayette declined to comment on a report in newsletter La Lettre de L'Expansion that a fall in its revenues next...

  • NEW YORK, Dec 1- From a whimsical enchanted winter forest-scape to candy-laden backdrops for festive fashion, New York department stores have spent a year conjuring up eye-catching holiday window displays. said Roe Palermo, divisional vice president, store visual of New York department store Lord& Taylor, which is part of Hudson's Bay Co..

  • NEW YORK, Dec 1- Retailers have long relied on sales of high-margin winter coats and boots to boost annual profits, but with the season becoming shorter and warmer, U.S. fund managers are shedding department store and apparel stocks, convinced the industry is becoming a victim of climate change. "They desperately need to acknowledge that climate change is...

  • Dec 1- Discount retailer Dollar General Corp reported a surprise drop in quarterly comparable sales and tempered its full-year profit forecast, hit by lower grocery prices and reduced food stamp coverage in several U.S. states. The company's shares were down 7.3 percent at $71.67 in morning trading on Thursday. "It became apparent that our incremental actions...

  • Dec 1- Discount retailer Dollar General Corp reported a surprise drop in third-quarter comparable sales, largely due to lower grocery prices and a reduction of food stamp coverage in several U.S. states. The company's shares were down 4.3 percent at $74 in light premarket trading on Thursday. The company's net income fell to $235.3 million, or 84 cents per share,...

  • Sales in Kors' wholesale business, which supplies to department stores including Macy's Inc and Neiman Marcus, fell 18.4 percent to $452.2 million in the second quarter ended Oct. 1. Kors cut its revenue forecast for the fiscal year to about $4.55 billion and adjusted profit forecast to $4.37- $4.43 per share. Net income attributable to the company fell to $160.9...

  • CHICAGO, Nov 10- Department store operator Nordstrom Inc reported a 2.4 percent rise in quarterly comparable store sales on Thursday after a drop in the previous two quarters, helped by higher revenue during its anniversary sale and its off-price Rack business. The 2.4 percent growth in comparable sales was in line with estimates of analysts polled by...

  • Nov 10- Macy's Inc and Kohl's Corp struck an optimistic note going into the holiday shopping season, giving a rare boost to shares of department store operators, which have struggled to grow in the face of intense competition from online retailers. Kohl's Chief Executive Kevin Mansell said he was encouraged by a strong back-to-school season and sales during...

  • The company's net income rose to $146 million, or 83 cents per share in the third quarter ended Oct. 29, from $120 million, or 63 cents per share, a year earlier. Excluding one-time items, Kohl's earned 80 cents per share, beating the average analyst estimate of 70 cents, according to Thomson Reuters I/B/E/S. The Menomonee Falls, Wisconsin- based company's net sales fell...

  • Nov 2- Cosmetics maker Estee Lauder Cos Inc reported lower-than-expected quarterly sales on Wednesday as fewer shoppers visited department stores in the United States. Estee Lauder, like its peers in the cosmetics industry, has struggled to boost sales in the United States as customers increasingly spend more on big-ticket items such as cars and...

  • Nov 2- Cosmetics maker Estee Lauder Cos Inc reported lower-than-expected quarterly sales on Wednesday as fewer customers visited department stores in the United States. Sales in the Americas, accounting for more than 40 percent of net sales, fell 2.8 percent to $1.23 billion, hurt by a decline in mall traffic and lower tourist spending in its M.A.C stores, the...

  • Oct 24- Department store operator Nordstrom Inc said it would hire about 11,400 temporary employees for the holiday shopping season, about 3 percent fewer than last year. The company said about 9,500 temporary employees will be hired in sales and stock positions at its 123 Nordstrom stores in the United States and Canada and 213 Nordstrom Rack stores in the...

  • NEW YORK, Oct 21- The dramatic shift to online shopping that has crushed U.S. department stores in recent years now threatens the investors who a decade ago funded the vast expanse of brick and mortar emporiums that many Americans no longer visit. Wells Fargo estimates that about $38 billion of these loans were taken out by retailers, bundled into commercial...