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Retail Multiline Retail

  • *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...

  • *Stores being closed account for less than 5 pct of annual sales. *Q4 comp sales drop 0.7 pct vs est -0.5 pct. Feb 24- Department store operator J.C.

  • Feb 24- Department store operator J.C. "We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of online retailers," Chief Executive Officer Marvin Ellison said in a statement. Penney said it expected annual savings of about $200 million from the cost-cutting measures, and would take a related...

  • Feb 24- Department store operator J.C. Penney Co Inc said on Friday it would close about 130-140 stores over the next few months, and reported a 0.7 percent drop in same-store sales for the holiday quarter. Penney's net sales fell 0.9 percent to $3.96 billion in the fourth quarter ended Jan. 28, declining for the third time this year.

  • The owner of luxury retail chain Saks Fifth Avenue said its consolidated comparable sales fell 1.2 percent on a constant currency basis during the fourth quarter ended Jan. 28. Sales rose 0.6 percent at its department store banners, which include Hudson's Bay and Lord& Taylor, and 0.1 percent at Saks Fifth Avenue. Last month, Hudson's Bay stock tumbled more than 20...

  • *Q4 profit $1.44/ shr vs est $1.33. Feb 23- Department store operator Kohl's Corp followed larger rival Macy's Inc in reporting a better-than-expected profit for the holiday quarter, as lower inventories helped the company avoid deep discounting. "We've really dramatically reduced inventories this year so our clearance levels and fall transitional...

  • A cashier completes a purchase at a Walmart store in Burbank, California.

    Using hedge fund analytics tool Kensho, CNBC conducted a study to find out which retailers tend to fare best after Wal-Mart tops earnings expectations.