Retail Multiline Retail

  • *Ex-chief merchandising officer Jeff Gennette to take over. June 23- Macy's Inc said Terry Lundgren will step down as CEO next year and be succeeded by former chief merchandising officer Jeff Gennette as the department store operator tries to revive sales hit by stiff competition from online and off-price retailers. "We think a new perspective and leadership...

  • June 23- Macy's Inc said Terry Lundgren will step down as CEO next year and be succeeded by former chief merchandising officer Jeff Gennette, as the department store operator looks to revive sales amid stiff competition from online and offprice retailers. Shares of the company, which has reported falling sales for the last five quarters, rose as much as 5 percent...

  • June 23- Macy's Inc said Terry Lundgren will step down as chief executive next year and be succeeded by former chief merchandising officer Jeff Gennette, as the department store operator looks to revive sales amid stiff competition from online retailers. Macy's sales nearly doubled during Lundgren's tenure and he helped establish Macy's and...

  • June 23- Macy's Inc said Terry Lundgren will step down as CEO in the first quarter of 2017, as part of the struggling department store operator's plans to revamp its business and improve sales. Lundgren, who has been the company's CEO since 2003, will be succeeded by Jeff Gennette, Macy's president. 55- year old Gennette and team are well equipped to continue the...

  • June 8- Canadian department store operator Sears Canada Inc reported a bigger quarterly loss, hurt by a continued drop in sales. The company's net loss in the first quarter ended April 30 widened to C $63.6 million, or 62 Canadian cents per share, from C $59.1 million, or 58 Canadian cents, a year earlier. Revenue fell 14.5 percent to C $595.9 million.

  • CHICAGO, June 7- U.S retailer Target Corp is asking many suppliers to take on an extra 3-5 percent of the cost of promotions and price cuts after slow sales so far this year. Minneapolis- based Target, the second-largest discount retailer in the United States, wants to minimize the impact of markdowns on profit in a tough year as middle income customers make fewer...

  • COPENHAGEN, June 7- Hearing aid maker William Demant is looking for more retail acquisitions to increase control over the sale of its products and fight competition from discount chains such as Costco. The group will not hesitate to buy retail chains if necessary to protect the sale of own-brand hearing aids, Chief Executive Niels Jacobsen told Reuters on the...

  • LONDON, June 2- British department stores group BHS is to be wound down after administrators failed to find a buyer for the 88- year-old chain, threatening over 10,000 jobs and creating huge vacant sites in town centres struggling to cope with changing shopping habits. The failure to find a buyer will likely increase the focus on previous owner, billionaire...

  • LONDON, June 2- British department stores group BHS is to be wound down after administrators failed to find a buyer for the 88- year-old chain, threatening more than 10,000 jobs, advisers Duff& Phelps said on Thursday. "Despite the considerable efforts of the administrators and BHS senior management it has not been possible to agree a sale of the business," said...

  • LONDON, June 2- British department stores group BHS is to be wound down after administrators failed to find a buyer for the 88- year-old retailer, advisers Duff& Phelps said on Thursday. All 163 stores will hold closing down sales over the coming weeks and 8,000 staff are likely to be laid off. "Despite the considerable efforts of the Administrators and BHS senior...

  • *Dollar Tree Q1 adj profit $0.89/ shr vs est $0.81. *Dollar General profit $1.03/ shr vs est $0.95. Shares of Dollar Tree, the biggest U.S. discount chain, jumped 13.8 percent to $89.16 and Dollar General rose as much as 5.7 percent to $88.95.

  • *Dollar Tree Q1 adj profit $0.89/ shr vs est $0.81. *Dollar General profit $1.03/ shr vs est $0.95. Shares of Dollar Tree, the biggest U.S. discount chain, were up 10 percent at $86.55 in early trading on Thursday, while Dollar General was up 4 percent at $87.62.

  • May 26- Dollar Tree Inc, the biggest U.S. discount chain, reported better-than-expected quarterly comparable sales as more customers spent more on average in its stores. Sales at stores open at least a year rose 2.3 percent in constant currency, beating the 2.1 percent growth expected by research firm Consensus Metrix. Net income rose to $232.7 million, or 98...

  • May 26- Discount retailer Dollar General Corp reported a 7 percent rise in quarterly net sales as more customers came through the door and spent more on average. The company's net income rose to $295.1 million, or $1.03 per share, in the first quarter ended April 29, from $253.2 million, or 84 cents per share, a year earlier. Net sales rose to $5.27 billion from $4.92...

  • NEW YORK, May 25- After a spate of disappointing quarterly results from big-name retailers, mall real estate investment trusts have come under pressure. "It wouldn't be surprising if high-end malls ended up with two traditional department stores compared to the roughly four traditional department stores currently at most malls," said Cedrik Lachance,...

  • SAN FRANCISCO, May 25- Investors shell-shocked by dismal quarterly reports from department stores will look for new signs of hope for brick-and-mortar retailers on Thursday as discount sellers Dollar General Corp and Dollar Tree Inc hand in their results. Both companies have likely lost less business than department stores to Amazon than because their...

  • CHICAGO, May 18- Target Corp on Wednesday reported a lower-than-expected increase in sales at established stores as consumers spent more on big-ticket purchases like homes and cars than on discretionary items like apparel, a major source of revenue for department stores. The Minneapolis- based company's shares dropped 7.4 percent to $68.15 in premarket...

  • May 13- The S&P and Dow were struggling for direction on Friday as investors digested strong April retail sales data that seemed to contradict the gloomy earnings reports by department stores. The U.S. Commerce Department said retail sales jumped 1.3 percent last month, the largest gain since March 2015 and a bigger rise than the 0.8 percent economists were...

  • *1st- qtr comp sales fall 0.4 pct vs est 3.3 pct rise. *Net sales fall 1.6 pct, first drop in 5 qtrs. The Commerce Department said on Friday retail sales jumped 1.3 percent last month, the largest gain since March 2015.

  • Shares of the company, which also reported a surprise drop in comparable sales, fell 13 percent to $6.78 in premarket trading on Friday. Penney's net loss narrowed to $68 million, or 22 cents per share, in the quarter, from $150 million, or 49 cents per share, a year earlier. Analysts on average had expected a loss of 38 cents per share on revenue of $2.92 billion,...