Puig Announces New CEO
xxxJose Manuel Albesa will succeed Marc Puig, becoming the first non-family member to lead the Spanish conglomerate in more than 20 years.
department-stores
Retail
Nordstrom Ends Rocky Year With Modest Holiday Sales Growth
The results underscore the theme other retailers have established this holiday season: Limited gains may not be enough to appease skeptical investors.
Nordstrom Ends Rocky Year With Modest Holiday Sales Growth
The results underscore the theme other retailers have established this holiday season: Limited gains may not be enough to appease skeptical investors.
Retail
New Neiman Marcus CEO Faces Steep Challenge of Billions in Debt
Geoffroy van Raemdonck, who becomes chief executive officer next month, is taking over a retailer facing heavy losses, an industrywide traffic slowdown and nearly $5 billion in debt.
New Neiman Marcus CEO Faces Steep Challenge of Billions in Debt
Geoffroy van Raemdonck, who becomes chief executive officer next month, is taking over a retailer facing heavy losses, an industrywide traffic slowdown and nearly $5 billion in debt.
Retail
Neiman Marcus Names Geoffroy van Raemdonck Chief Executive
The Ralph Lauren executive replaces Karen Katz, chief executive of the luxury department store group for the last seven years.
Neiman Marcus Names Geoffroy van Raemdonck Chief Executive
The Ralph Lauren executive replaces Karen Katz, chief executive of the luxury department store group for the last seven years.
Retail
Macy's to Close Stores and Cut Jobs
Despite a rise in Holiday same-store sales, the company said it would close 11 stores, cut jobs and further streamline non-store functions to save about $300 million in costs in 2018.
Macy's to Close Stores and Cut Jobs
Despite a rise in Holiday same-store sales, the company said it would close 11 stores, cut jobs and further streamline non-store functions to save about $300 million in costs in 2018.
Retail
Turkish Luxury Retailer Beymen Said to Explore IPO
Its parent company plans to offer as much as 49 percent of the department store and is in talks Bank of America, Citigroup and Deutsche Bank.
Turkish Luxury Retailer Beymen Said to Explore IPO
Its parent company plans to offer as much as 49 percent of the department store and is in talks Bank of America, Citigroup and Deutsche Bank.
Retail
Malls Beef Up Dining, Entertainment Options to Boost Traffic
Many mall owners are spending billions to add more upscale entertainment options after Macy's, Sears and other big department store chains have shuttered hundreds of stores.
Malls Beef Up Dining, Entertainment Options to Boost Traffic
Many mall owners are spending billions to add more upscale entertainment options after Macy's, Sears and other big department store chains have shuttered hundreds of stores.
Retail
A Crucial Christmas in Store for Three Besieged UK Retailers
Despite Black Friday promotions having been spread over two weeks in November, Debenhams, New Look and House of Fraser are among the few still discounting by as much as 50 percent.
A Crucial Christmas in Store for Three Besieged UK Retailers
Despite Black Friday promotions having been spread over two weeks in November, Debenhams, New Look and House of Fraser are among the few still discounting by as much as 50 percent.
Retail
Macy's Executive Chairman Lundgren to Retire in January
Jeff Gennette, who has been CEO of the US retailer since March, was widely expected to become chairman as part of a succession plan announced in June last year.
Macy's Executive Chairman Lundgren to Retire in January
Jeff Gennette, who has been CEO of the US retailer since March, was widely expected to become chairman as part of a succession plan announced in June last year.
Retail
Macy's to Hire 7,000 More Workers on Brisk Seasonal Demand
The company — challenged by the rise of e-commerce and rapidly changing consumer preferences — is betting that a strong performance during the year-end shopping season will help spark a turnaround.
Macy's to Hire 7,000 More Workers on Brisk Seasonal Demand
The company — challenged by the rise of e-commerce and rapidly changing consumer preferences — is betting that a strong performance during the year-end shopping season will help spark a turnaround.
Retail
Survival Mode for Japan’s Department Stores
Wave after wave of closures have hit the US and China, but Japan’s distinguished department stores were thought to be relatively safe from the era of 'new retail' — until now.
Survival Mode for Japan’s Department Stores
Wave after wave of closures have hit the US and China, but Japan’s distinguished department stores were thought to be relatively safe from the era of 'new retail' — until now.
Retail
How Top Shops Like Barneys, Saks and Bergdorf Do Black Friday
Lines are short and no doors get busted, but there are still sales to enjoy and deals to find.
How Top Shops Like Barneys, Saks and Bergdorf Do Black Friday
Lines are short and no doors get busted, but there are still sales to enjoy and deals to find.
Financial Markets
Neiman Marcus Sees Key Sales Figure Rise for First Time in Two Years
The figure includes a 14 percent increase in online sales, which now account for about one-third of total sales.
Neiman Marcus Sees Key Sales Figure Rise for First Time in Two Years
The figure includes a 14 percent increase in online sales, which now account for about one-third of total sales.
The News in Brief
Spandex Maker Lycra Files for Bankruptcy After Years of Stress
The company has been hampered with disruptions to supply chains, elevated inflation, growing competition from low-cost manufacturers and trade tariffs.
US SEC Preparing to Eliminate Quarterly Reporting Requirement, WSJ Says
The proposal would give companies the option to share results twice a year.
Kering Unveils New Jewellery Unit, Merges Fashion Brand Reporting
Kering’s newly created jewellery division regroups Boucheron, Pomellato, Dodo and Qeelin brands as the company aims to pool resources. The conglomerate is also regrouping fashion brand reporting, shielding smaller labels from investor scrutiny.
Bondholders Approve Saks Global’s Five-Year Business Plan
Saks is moving towards exiting bankruptcy and tapped an additional $300 million of its Chapter 11 financing package.
Luxury Stocks Face Most Bearish Sentiment in Years, UBS Says
War in the Middle East, the luxury industry’s fastest-growing market, threatens to delay a long-expected rebound in demand.
Trump Signs Order to Combat Fraudulent ‘Made in America’ Labels, White House Says
The executive order directs the FTC chairman to prioritise enforcement of existing laws against sellers and manufacturers who falsely claim products are made in America.
Lanvin Deputy CEO Siddhartha Shukla Exits Brand
Owner Lanvin Group said it is ‘fully committed’ to the French label’s development under creative director Peter Copping, with CEO Andy Lew in charge of management.