Puig Announces New CEO
Jose 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
J.C. Penney's Same-Store Sales Beat Estimates
The department store chain said third-quarter comparable sales rose 1.7 percent, better than the 0.6 to 0.8 percent rise it had forecast last month.
J.C. Penney's Same-Store Sales Beat Estimates
The department store chain said third-quarter comparable sales rose 1.7 percent, better than the 0.6 to 0.8 percent rise it had forecast last month.
Retail
Nordstrom Sales Hurt by Hurricanes
The department store said the natural disasters would likely hurt full-year sales by $26 million.
Nordstrom Sales Hurt by Hurricanes
The department store said the natural disasters would likely hurt full-year sales by $26 million.
Retail
Hudson's Bay Gets 'Unsolicited' Offer for Galeria Kaufhof
HBC reported Karstadt owner Signa has put in an "an incomplete, non-binding and unsolicited offer" to buy its main European asset, German department-store chain Galeria Kaufhof.
Hudson's Bay Gets 'Unsolicited' Offer for Galeria Kaufhof
HBC reported Karstadt owner Signa has put in an "an incomplete, non-binding and unsolicited offer" to buy its main European asset, German department-store chain Galeria Kaufhof.
Retail
Russia’s Luxury Market on the Mend
The country’s luxury market has recovered after two difficult years, helped mainly by domestic demand and rising sales to tourists, which will get a boost from a ‘tax-free’ scheme scheduled to come into force around February next year.
Russia’s Luxury Market on the Mend
The country’s luxury market has recovered after two difficult years, helped mainly by domestic demand and rising sales to tourists, which will get a boost from a ‘tax-free’ scheme scheduled to come into force around February next year.
Retail
What American Department Stores Can Learn From the Success of Selfridges
The British retailer reported record results last year, with double-digit increases in both sales and operating profits.
What American Department Stores Can Learn From the Success of Selfridges
The British retailer reported record results last year, with double-digit increases in both sales and operating profits.
Retail
JC Penney Shares Tumble 25 Percent
The company's stock drop followed its prediction of losses in the third quarter, renewing the sense that department stores are losing ground to e-commerce.
JC Penney Shares Tumble 25 Percent
The company's stock drop followed its prediction of losses in the third quarter, renewing the sense that department stores are losing ground to e-commerce.
Retail
Nordstrom Doubles Down on Discount Format
As retail woes deepen, the department store chain looks to revive what was once its long-time bright spot: Nordstrom Rack.
Nordstrom Doubles Down on Discount Format
As retail woes deepen, the department store chain looks to revive what was once its long-time bright spot: Nordstrom Rack.
Retail
Nordstrom Ramps Up Holiday Hiring Despite Slump
The department-store chain, which halted its search for a buyout partner earlier this month, looks to hire 13,650 workers to help meet seasonal demand.
Nordstrom Ramps Up Holiday Hiring Despite Slump
The department-store chain, which halted its search for a buyout partner earlier this month, looks to hire 13,650 workers to help meet seasonal demand.
Retail
Hudson Bay Company’s Richard Baker Speaks on Latest Strategic Move
The Canadian retail-real estate group’s mastermind explains why selling the historic Lord & Taylor building to WeWork Property Advisors, combined with an equity investment, will free up the company to continue executing its ‘transformation plan.'
Hudson Bay Company’s Richard Baker Speaks on Latest Strategic Move
The Canadian retail-real estate group’s mastermind explains why selling the historic Lord & Taylor building to WeWork Property Advisors, combined with an equity investment, will free up the company to continue executing its ‘transformation plan.'
Retail
Hudson's Bay Sells Lord & Taylor Building to WeWork to Cut Debt
WeWork will pay $850 million for the Fifth Avenue flagship, as the Canadian retail group faces pressure from investors to cut debt.
Hudson's Bay Sells Lord & Taylor Building to WeWork to Cut Debt
WeWork will pay $850 million for the Fifth Avenue flagship, as the Canadian retail group faces pressure from investors to cut debt.
Retail
Activist Investor May Seek Removal of Hudson's Bay Company Directors
Jonathan Litt continues to push for change at the Canadian department store group, announcing he may seek the removal of several directors following the recent departure of the CEO.
Activist Investor May Seek Removal of Hudson's Bay Company Directors
Jonathan Litt continues to push for change at the Canadian department store group, announcing he may seek the removal of several directors following the recent departure of the CEO.
Retail
Hudson’s Bay Company CEO Jerry Storch Is Leaving
Executive chairman Richard Baker will step in to lead the department store group as it continues on a cost-cutting transformation plan.
Hudson’s Bay Company CEO Jerry Storch Is Leaving
Executive chairman Richard Baker will step in to lead the department store group as it continues on a cost-cutting transformation plan.
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.