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Retail Multiline Retail

  • Oct 16- Sears Holdings Corp on Monday said that Bruce Berkowitz, head of the company's second-biggest investor, resigned from the board of directors less than two years after he sought a seat to help turn the struggling department store chain around, sending Sears stock down as much as 15 percent. The decision by Berkowitz, the head of investor fund Fairholme...

  • Oct 16- Sears Holding Corp on Monday said that Bruce Berkowitz, head of the company's second-biggest investor, resigned from the board of directors less than two years after he sought a seat to help turn the struggling department store chain around, sending Sears stock down as much as 15 percent. The decision by Berkowitz, the head of investor fund Fairholme...

  • Sept 26- Department store operator Kohl's Corp said on Tuesday long-time Chief Executive Kevin Mansell would retire in May, and would be succeeded by Chief Merchandising Officer Michelle Gass. Last year, bigger rival Macy's Inc named its president and former chief merchandising officer, Jeff Gennette, as its CEO, succeeding retail veteran Terry Lundgren.

  • WILMINGTON, Del, Sept 19- The U.S. Bankruptcy judge overseeing the Chapter 11 of Toys' R' Us said on Tuesday he would approve the company's request to borrow more than $2 billion to help stabilize the largest U.S. toy chain as it builds inventory for the year-end shopping season. Toys' R' Us filed for bankruptcy Monday, squeezed by online shopping and discount chains.

  • Sept 19- Department store operator Kohl's Corp said it would accept returns of select items bought from Amazon.com Inc at some of its stores in Los Angeles and Chicago, expanding its partnership with the ecommerce giant. The move follows Kohl's announcement earlier this month that it would sell Amazon's devices, including the voice-controlled speaker Echo,...

  • Sept 19- Department store operator Kohl's Corp said select merchandise bought from Amazon.com Inc can be returned at 82 Kohl's stores in Los Angeles and Chicago, starting October, further strengthening its partnership with the ecommerce giant. The move follows Kohl's announcement earlier this month that it would sell Amazon's devices, including the...

  • Sept 19- Department store operator Kohl's Corp said on Tuesday that select merchandise bought from Amazon.com Inc can be returned at 82 Kohl's stores in Los Angeles and Chicago, starting October. The move follows Kohl's announcement earlier this month that it would sell Amazon's devices, including the voice-controlled speaker Echo, at 10 of its stores in Los...

  • *Operations outside US, Canada not part of bankruptcy. Sept 18- Toys' R' Us Inc, the largest U.S. toy store chain, filed for bankruptcy protection late Monday, the latest sign of turmoil in the retail industry that is caught in a viselike grip of online shopping and discount chains. Toys' R' Us received a commitment for over $3 billion in debtor-in-possession financing...

  • Sept 18- Toys' R' Us Inc, the largest U.S. toy store chain, filed for bankruptcy protection on Monday, the latest sign of turmoil in the retail industry caught in a viselike grip of online shopping and discount chains. The retailer's operations outside of the United States and Canada, including about 255 licensed stores and joint venture partnerships in Asia, which...

  • Sept 18- Toys "R" Us Inc, the largest U.S. toy store chain, filed for bankruptcy protection on Monday, the latest sign of turmoil in the retail industry caught in a viselike grip of online shopping and discount chains. The Chapter 11 filing is among the largest ever by a specialty retailer and casts doubt over the future of the company's approximately 1,600 stores and...

  • Sept 18- U.S. discount retailer Dollar Tree Inc said on Monday Bob Sasser will be replaced as chief executive by Gary Philbin, the company's enterprise president, effective immediately. Sasser oversaw Dollar Tree's $9.1 billion acquisition of Family Dollar in 2015, making it the biggest dollar store chain in the United States. Dollar Tree's market value rose...

  • "I think sees an opportunity to take market share in an environment where we have so many store closures in the specialty apparel and department store space," said Retail Metrics analyst Ken Perkins. Retailers including Sears Holdings Inc and Macy's Inc have announced plans to close hundreds of stores as they struggle with increasing competition from...

  • Sept 12- Nordstrom Inc's founding family has selected private equity firm Leonard Green& Partners to help take the high-end retailer private, according to a source familiar with the matter. Nordstrom's shares rose as much as 9.6 percent to $49.40 in after-hours trading on Tuesday, valuing the U.S. department store operator at $8.21 billion.

  • Sept 7- Canada's Dollarama Inc reported a better-than-expected profit for the ninth straight quarter as customers spent more at its dollar stores, helped by its policy to accept credit cards for payments. Customers spent more than twice the amount when shopping with credit cards than they did with cash transactions, Chief Executive Neil Rossy said on a...

  • The company, which raised its product price ceiling to C $4 last year, faces far less competition in the market than its U.S. peers, allowing it to raise prices and improve margins. In contrast, U.S. retailer Dollar General Corp reported a slide in its second-quarter profit margins, as it cut prices more aggressively to compete with Amazon's Whole Foods Market.

  • Sept 6- U.S. department store operator Kohl's Corp said on Wednesday it would sell Amazon.com Inc devices at 10 stores in Los Angeles and Chicago starting in October. Kohl's, which has reported declining sales for six straight quarters, is the latest retailer to join hands with Amazon, the e-commerce company that has put a dent into sales at retailers across the...

  • TORONTO, Sept 5- Department store operator Hudson's Bay Co reported on Tuesday a steeper-than-forecast quarterly loss but retail sales slightly topped expectations as new store openings and a favorable foreign exchange impact offset fewer shoppers and more sales promotions. HBC's Saks Fifth Avenue luxury brand had its best quarterly comparable sales...

  • TORONTO, Sept 4- Hudson's Bay Co's commitment to Europe is "rock solid," Chief Executive Gerald Storch told Reuters in an interview, ahead of the opening of the first of 10 planned name-sake department stores in the Netherlands on Tuesday, bucking a trend away from bricks and mortar. The European expansion comes in the face of pressure from activist investor...

  • Bon-Ton has tapped advisory firm AlixPartners LLP to provide operational advice on its turnaround efforts, and is also interviewing banks to appoint an advisor to review strategic options including debt restructuring, the sources said this week. The York, Pennsylvania- based company has been suffering from years of losses, including a loss of $33.2 million...

  • Dana Telsey

    Dana Telsey says retailers must change their focus and strategy to compete with Amazon.