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Retail Multiline Retail

  • LONDON, Jan 11- British department store House of Fraser on Wednesday reported a 2.7 percent rise in underlying sales over the Christmas period, helped by record trading in the last two weeks of December. House of Fraser also said that Black Friday sales rose 2.7 percent compared to last year, with online business accounting for around 41 percent of total sales...

  • *Japan's consumer prices fall for nine straight months. TOKYO, Jan 11- Aeon Co posted a 51 percent jump in its third-quarter operating profit as brisk business at supermarkets, drug stores and discount outlets helped the biggest retailer by sales in Japan offset losses at its general merchandise stores. Operating profit for quarter ended Nov. 30 was 13 billion...

  • HONG KONG, Jan 10- China's Alibaba Group Holding Ltd is leading a $2.6 billion bid to privatize Intime Retail Group Co Ltd in a move to digitize brick-and-mortar department stores while growth in online sales begins to slow. Alibaba Investment Ltd and Intime founder Shen Guojun have offered HK $10 per Intime share- 42.25 percent over the HK $7.03 price when...

  • Jan 6- Neiman Marcus Group LLC said on Friday it would withdraw its initial public offering, nearly two years after the upscale department store chain filed its intent with U.S. regulators to go public, as it grapples with weaker customer demand. Neiman Marcus, which also operates the Bergdorf Goodman and MyTheresa brands, was acquired by private equity firm Ares...

  • CHICAGO, Jan 5- Weak holiday sales by some U.S. department stores have reignited fears that the sector may never recover its growth levels of the past, but some investors are holding out hope for a longer-term recovery. Disappointing sales at Macy's Inc and Kohl's Corp, coupled with store closures and layoffs, triggered a selloff in retail stocks this week.

  • CHICAGO, Jan 5- Weak holiday sales by some U.S. department stores have reignited fears that the sector may never recover its growth levels of the past, but some investors are holding out hope for a longer-term recovery. Disappointing sales at Macy's Inc and Kohl's Corp, coupled with store closures and layoffs, triggered a selloff in retail stocks this week.

  • Jan 5- Disappointing holiday-season sales at Macy's Inc and Kohl's Corp underscored the uphill task facing department stores to win back shoppers, who are increasingly turning to online retailers and spending less on apparel. Macy's shares fell as much as 14 percent on Thursday, their biggest percentage drop in seven months. Macy's, known the world over for its...

  • Jan 5- Struggling retailer Sears Holdings Corp said on Thursday its comparable sales for November and December fell by 12-13 percent, the latest department store operator to report disappointing sales during the holiday shopping season. The company's shares rose 6.1 percent, however, after its earlier announcement that it would sell its Craftsman tools...

  • Jan 4- Department store chains Macy's Inc and Kohl's Corp cut their profit forecasts for the year on Wednesday, after holiday season sales for both retailers fell more than expected, pushing shares in the retail sector down in extended trading. Macy's shares were down 9.7 percent at $32.37 and Kohl's shares plunged 14.7 percent to $44.25 after hours.

  • Jan 4- Macy's Inc, the biggest U.S. department store operator, cut its 2016 adjusted profit forecast, largely due to weak holiday season sales. The company's shares were down 8.9 percent at $32.63 in extended trading on Wednesday. Macy's cut its adjusted profit forecast for the year ending Jan. 30 to $2.95- $3.10 per share from $3.15- $3.40 per share it previously...

  • 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...