Expect to see more high-brow wellness products and Southern flair at Nordstrom, Racked reports.
Simeon Siegel, Nomura U.S. specialty retail equity analyst, and Michael Olson, Piper Jaffray senior research analyst, weigh in on how retail is under pressure and Amazon's dominance in the space versus other retailers.
*Oil hit a three-week high after top exporter Saudi Arabia and Russia said supply cuts needed to last into 2018, a step towards extending an OPEC- led deal to support prices for longer than originally agreed. *Wall Street slipped on Friday, ending the week lower as tepid economic data weighed on banks and worries deepened over department stores.
Allen Questrom, JCPenney former Chairman & CEO weighs in on how department stores have to compel more customers and millennials to shop.
May 12- Wall Street slipped on Friday, ending the week lower as tepid economic data weighed on banks and worries deepened over Nordstrom and other department stores. Risk-averse sentiment gripped Wall Street this week after President Donald Trump unexpectedly fired his FBI chief, the potential fallout from which could delay Trump's pro-growth goals to cut...
May 12- The S&P 500 and the Dow slipped on Friday as tepid economic data weighed on banks and worries deepened over Nordstrom and other department stores.
May 12- Wall Street fell on Friday and was on track to end the week lower as tepid economic data weighed on banks and worries deepened over Nordstrom and other department stores. A risk-off sentiment gripped Wall Street this week after President Donald Trump unexpectedly fired his FBI chief, the potential fallout from which could delay Trump's pro-growth...
Though these are trying times for many of the American retailers, but some sectors are thriving.
The retail sector is facing its worst performance since the Great Recession — an alarm for smaller shops, NBC News reports.
Brian Tunick, RBC Capital Markets managing director, and Jharonne Martis, Thomson Reuters director of research, discuss the pressures facing the retail sector.
Profits from department store credit cards — with their steep interest rates — obscure the retail industry's pain, N.Y. Times reports.
TORONTO, May 12- Shares of Hudson's Bay Co, the owner of luxury department store chain Saks Fifth Avenue, slumped more than 6 percent on Friday after the retailer reported disappointing quarterly same-store sales. After markets closed on Thursday, Toronto- based Hudson's Bay said comparable store sales in all its brands fell 2.9 percent during the first quarter...
Mike Gould, former Bloomingdale's chairman & CEO, discusses the issues facing retailers as names in the sector report disappointing quarterly earnings.
CNBC's Courtney Reagan reports the latest disappointing earnings from retail names like JCPenney and Nordstrom.
Penny's net sales dropped 3.7 percent to $2.71 billion, declining for the third straight quarter and just short of the average analyst estimate of $2.77 billion, according to Thomson Reuters I/B/E/S. Sales at clothing stores fell 0.5 percent in April, while sales at online retailers, such as Amamzon.com Inc, jumped 1.4 percent, according to data released by the...
Department stores have to reinvent themselves, says Dana Telsey, Telsey Advisors Group CEO, discussing retail's dismal quarter and what they must do to bring back consumers and remain competitive in the retail game.
Penney's net loss widened to $180 million, or 58 cents per share, in the quarter ended April 29, from $68 million, or 22 cents per share, a year earlier. Excluding items, the company earned a profit of 6 cents per share, helped by higher selling margins and lower costs of marketing and incentive compensation. Net sales fell 3.7 percent to $2.71 billion, declining for the...
May 12- Department store operator J.C. Penney Co Inc's quarterly loss more than doubled, hurt by weak sales in February and higher costs related to store closures and employee severance packages. Net loss widened to $180 million, or 58 cents per share, in the first quarter ended April 29, from $68 million, or 22 cents per share, a year earlier.
May 11- Nordstrom Inc on Thursday became the latest department store operator after Macy's and Kohl's to report weaker-than-expected quarterly same-store sales, underscoring the industry's struggle to attract customers amid a slump in demand for apparel and a shift to shopping online. Nordstrom's shares, which closed down 7.6 percent at $46.21 in regular...
May 11- U.S. stocks fell on Thursday after worse-than-expected sales drops at Macy's and Kohl's sparked a selloff in shares of department stores and stirred fears that consumers are not spending enough to drive strong economic growth. Kohl's dropped 7.86 percent after it reported a drop in quarterly sales, while shares of Nordstrom and J.C.