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...
Tax officials have launched a crackdown on VAT evasion by overseas online retailers, the Financial Times reports.
Dollar General, the No.2 U.S. discount retailer, reported lower-than-expected quarterly net sales as consumer spending showed few signs of recovery.
Department store operator Kohl's quarterly same-store sales were hurt by colder-than-usual weather in February.
Wal-Mart is raising wages because worker pride is vital to running a good retail business, CEO Doug McMillion tells CNBC.
Dollar General reined in its full-year sales forecast and said it remained committed to buying Family Dollar Stores.
Discount retailer Dollar Tree raised its sales outlook for the year after recording its strongest growth in quarterly same-store sales since 2011.
Family Dollar's earnings fell by a third as the company resorted to discounts to clear inventory and competition intensified.
Costco reported third-quarter results below analysts' estimates hurt by an increase in merchandise costs and other expenses.
Wal-Mart is fast becoming a "fierce threat" to Amazon's dominance of online shopping, a leading retail analyst tells CNBC.
Strip malls will survive the competition from online retailers, and may even one day include Amazon stores, predicted David Henry, chief executive of Kimco Realty.
Tiffany reported a loss in the fourth quarter, due primarily to losing an arbitration ruling involving The Swatch Group.
Costco Wholesale's profit fell 15 percent, missing estimates, hurt by weaker gross margins in its fresh-food business and some non-foods merchandises.
JC Penney reported a quarterly loss that was smaller than expected on Wednesday, but revenue trailed analysts' expectations.
At least one analyst at Target pushed for an investigation into payment systems after government and industry reports.
The seller of gadgets, wine accessories, and furniture is in talks with firms about investing. The WSJ reports.
After two years of declining sales, J.C. Penney is reducing some high-profile brands introduced by former CEO Ron Johnson and reviving old labels.
David Hamaty, Managing Director, Asia Pacific, Kurt Salmon highlights the likely impact and possible winners and losers of the sales tax hike in Japan.
JC Penney shares tumbled to their lowest in nearly 13 years after a Goldman Sachs report projected slow sales and liquidity trouble.