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Retail Multiline Retail

  • June 8- Department store operator Nordstrom Inc said on Thursday that some members of the controlling Nordstrom family have formed a group to consider taking the company private as it struggles with an industry-wide slowdown in sales. Shares of the company, which had a market value of $6.72 billion as of Wednesday closing, jumped as much 18 percent in their...

  • June 8- Department store operator Nordstrom Inc said on Thursday that some members of the controlling Nordstrom family have formed a group to consider taking the company private. Shares of the company, which had a market value of $6.72 billion as of Wednesday closing, rose 16.5 percent in premarket trading. The company, however, said the group had not made a formal...

  • TORONTO, June 7- Canadian department store operator Hudson's Bay Co has not yet applied for a Montreal city permit to transform a historic downtown property into a Saks Fifth Avenue store, a government official said on Wednesday, raising prospects the luxury chain could miss its targeted fall 2018 launch. The retailer, which reports first quarter results on...

  • HONG KONG, June 7- New World Department Store China Ltd said its parent firm plans to take it private for HK $934.5 million, so that it can better tackle a challenging operating environment and take risks in implementing strategy. Property developer New World Development Co Ltd, which owns 72.29 percent of New World Department Store, is offering HK $2 apiece for...

  • WASHINGTON, June 6- U.S. discount retailer Dollar Tree Inc has filed a lawsuit against Dollar Express which was unsealed on Tuesday, alleging that the smaller company's private equity owners siphoned off funds and failed to pay for $50 million in goods and services. Dollar Express was formed in 2015 when Sycamore Partners II LP bought some 330 stores in 35 states...

  • WASHINGTON, June 6- U.S. discount retailer Dollar Tree Inc filed a countersuit against Dollar Express on Tuesday, alleging that the smaller company's private equity owners siphoned off funds and failed to pay for $50 million in goods and services. Dollar Express was formed in 2015 when Sycamore Partners II LP bought some 330 stores in 35 states from Family...

  • CHICAGO, June 6- Macy's Inc margins could end the year as much as 80 basis points lower than in 2016, Chief Financial Officer Karen Hoguet warned on Tuesday in comments that sent shares of the department store chain sliding to five-year lows, and also pressured other retail stocks. Macy's, an American retail icon that also owns luxury chain Bloomingdale's, has...

  • WASHINGTON, June 2- U.S. discount retailer Dollar Express has filed a lawsuit accusing rival Family Dollar and its parent company Dollar Tree Inc of driving it out of business, the third government-required divestiture to fail in recent years. Dollar Express was formed in 2015 when private equity group Sycamore Partners II LP bought some 330 stores in 35 states...

  • CHICAGO, May 18- Wal-Mart Stores Inc on Thursday reported higher-than-expected quarterly sales at established U.S. stores, as investments to bring more customers into the discount retailer paid off and a bigger push into e-commerce boosted online purchases, sending its shares flirting near a 52- week high. Wal-Mart and analysts said the company is...

  • CHICAGO, May 18- Wal-Mart Stores Inc on Thursday reported higher-than-expected quarterly sales at established U.S. stores, as a huge investment to bring more customers into the discount retailer paid off and a bigger push into e-commerce boosted online purchases, sending its shares to a 52- week high. "Wal-Mart's long string of investments in labor and...

  • CHICAGO, May 18- Wal-Mart Stores Inc on Thursday reported higher-than-expected quarterly sales at established U.S. stores, as more customers visited the discount retailer and its e-commerce push boosted online purchases, sending its shares up 1.3 percent in early trade. Wal-Mart's strong results show the retailer is benefiting from its $2.7 billion...

  • *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.

  • 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...

  • 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...

  • 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...

  • 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...