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Retail Multiline Retail

  • *Says has "healthy balance sheet and cash position". LONDON, July 16- British department store retailer Debenhams said it had a healthy cash position after a media report on Sunday saying insurers had cut cover for its suppliers sent its shares lower. Shares in Debenhams fell as much as 8 percent on Monday on the back of a Sunday Times report that the retailer, which...

  • NEW YORK— Nordstrom is expanding its small-store model that doesn't offer shoppers clothes to buy and take home. The upscale department store chain will open two more such Nordstrom Local stores in Los Angeles this fall, one in Brentwood and the other downtown. Nordstrom's first no-inventory store opened last fall in West Hollywood.

  • *Chairman says Britain unprepared for "no deal Brexit". LONDON, June 27- John Lewis Partnership warned of a big fall in annual profit on Wednesday, deepening a crisis in Britain's department store sector, and said chaos could ensue if the country crashed out of the European Union without a deal. Department stores have been especially hard hit, with House of Fraser...

  • TOKYO, June 18- Japanese discount retailer Don Quijote Holdings Co Ltd expects to hit its 1 trillion yen sales target in the next financial year, a year earlier than forecast, a senior executive said on Monday. Reaching 1 trillion yen in sales would propel Donki, as it popularly known, into the ranks of Japan's top retailers, such as Uniqlo parent Fast Retailing Co Ltd,...

  • TOKYO, June 18- Japanese discount retailer Don Quijote Holdings Co Ltd expects to hit its 1 trillion yen sales target in the next financial year, a year earlier than forecast, a senior executive said on Monday. "We have progressed to where we can pull forward," Mitsuo Takahashi, Don Quijote's chief financial officer, said in a Reuters interview, adding that the...

  • JOHANNESBURG, June 15- South Africa's Steinhoff Africa Retail plans to change its name to Pepkor Holdings Limited to help distance itself from scandal-hit parent company Steinhoff International. Shares in STAR, which runs Africa's biggest apparel discount chain Pep, rose 2.5 percent to 17.78 rand by 1427 GMT. Businessman Christo Wiese, who turned Pepkor into...

  • Customers pull a dinnerware set from a shopping cart outside of a Kohl's store in Peru, Illinois.

    The recent run in Kohl's stock means it's time to "step aside," according to Citigroup, which downgrades the company to neutral from buy on lingering fears of weak traffic.

  • LONDON, June 7- House of Fraser said it needed to close 31 stores to survive, in a plan likely to result in as many as 6,000 job losses, making the department store group the latest in a long line of retail casualties in Britain. "These proposals are central to the significant restructuring of the business, without which House of Fraser does not have a viable future," the...

  • TORONTO, June 5- Canada's Hudson's Bay Co said on Tuesday it would sell its unprofitable online banner Gilt and up to 10 Lord& Taylor stores, including its flagship Manhattan outlet, as its quarterly loss widened on declines in its European and Saks OFF 5th divisions. The department store chain, which owns the Saks Fifth Avenue luxury retailer, reported a net loss of...

  • Pedestrians walk by Macy's flagship store in Herald Square in New York, New York.

    Evercore double-upgraded its rating on shares of Macy's to long from short, adding that fears of a "retailpocalypse" at the hands of Amazon are overblown.

  • May 31- Sears Holdings Corp reported a near 12 percent fall in quarterly comparable-store sales on Thursday and said it will close 72 more underperforming stores in an effort to stem growing losses. Shares of the struggling department store operator, which have lost nearly all its in the last 5 years, fell 10 percent to $2.89 in premarket trading.

  • JOHANNESBURG, May 29- Steinhoff's African unit scrapped its half-year dividend payout on Tuesday and set aside $40 million to cover its exposure to a share price slump at its crisis-hit parent. Shares in STAR, which runs Africa's biggest apparel discount chain Pep, fell 4.4 percent to 16.16 rand however, bringing losses since early December to more than 40...

  • Like fellow luxury goods makers Tapestry Inc and PVH Corp, the New York- based fashion house has been looking to regain some of its lost brand desirability by pulling out of department stores where handbags and clothes are heavily discounted. Patrice Louvet, who completed his first full year as chief executive officer of Ralph Lauren in May, has also looked to...

  • *Books 321 mln stg charge for store closures. LONDON, May 23- Marks& Spencer is modernising rapidly to survive and has finally found a strategy that will deliver the profitable, growing business craved by investors, the British retailer said on Wednesday. M&S, one of Britain's best known retailers, faces unrelenting competition from supermarkets and discounters,...

  • *Books 321 mln stg charge for store closures. LONDON, May 23- Marks& Spencer is modernizing rapidly to survive and has finally found a strategy that will deliver the profitable, growing business craved by investors, the British retailer said on Wednesday. M&S, one of Britain's best known retailers, faces unrelenting competition from supermarkets and discounters,...

  • May 22- Kohl's Corp topped Wall Street forecasts for first-quarter profit and revenue on Tuesday but warned that same-store sales growth would slow in the second half of the year, sending the U.S. department store chain's shares down 6 percent. Kohl's now expects adjusted earnings of between $5.05 and $5.50 per share for the 2019 fiscal year, compared with an...

  • May 22- Kohl's Corp raised its annual earnings forecast on Tuesday, as the department store chain sells products more efficiently and benefits from tie-ups with other retailers. More customers are also shopping at Kohl's, which has a lucrative deal with Amazon.com Inc. Kohl's stores sell Amazon electronics and accept returns from Amazon customers.

  • May 22- U.S. department store chain Kohl's Corp topped Wall Street estimates for quarterly profit on Tuesday, as efforts to cut back on discounts and maintain a leaner inventory paid off, helping the company to lift its annual profit forecast. Kohl's now expects adjusted earnings of between $5.05 and $5.50 per share for the 2019 fiscal year, compared with an...

  • May 22- U.S. department store chain Kohl's Corp reported a 13.6 percent increase in quarterly profit on Tuesday, as efforts to cut back on discounts and maintain a leaner inventory paid off. Kohl's said net income rose to $75 million or 45 cents per share in the first quarter ended May 5, from $66 million or 39 cents per share a year earlier. Sales at Kohl's stores open...

  • LONDON, May 22- Britain's royal wedding dented sales at department store group John Lewis last week, as customers chose to watch Prince Harry and Meghan Markle get married on television instead of go shopping. The couple, now known as the Duke and Duchess of Sussex, tied the knot on Saturday at Windsor Castle, in a splendid display of pomp and ceremony watched by...