Lululemon Sees Annual Revenue, Profit Below Estimates Amid Board, Demand Challenges
CEO Calvin McDonald stepped down in December following months of share price weakness and lack of design freshness.
department-stores
Retail
US Retail Sales Rebound in April
The rise in retail sales indicates that the struggles of large retail chains, such as Macy's and J.C. Penney's, reflect changes in consumer buying patterns rather than broader economic weakness.
US Retail Sales Rebound in April
The rise in retail sales indicates that the struggles of large retail chains, such as Macy's and J.C. Penney's, reflect changes in consumer buying patterns rather than broader economic weakness.
Retail
J.C. Penney Joins Fellow Department Stores in Retail Malaise
Same-store sales at J.C. Penney fell by 3.5 percent last quarter, and follow the disappointing results from its rivals Macy’s Inc. and Kohl’s Corp., as well as upscale players like Nordstrom Inc.
J.C. Penney Joins Fellow Department Stores in Retail Malaise
Same-store sales at J.C. Penney fell by 3.5 percent last quarter, and follow the disappointing results from its rivals Macy’s Inc. and Kohl’s Corp., as well as upscale players like Nordstrom Inc.
Luxury
Nordstrom Shares Slip as It Fails to Avoid Retail Slump
The upmarket department store chain is suffering from sluggish store traffic and consumers’ growing preference to buy online.
Nordstrom Shares Slip as It Fails to Avoid Retail Slump
The upmarket department store chain is suffering from sluggish store traffic and consumers’ growing preference to buy online.
Retail
Op-Ed | Macy's Downfall Doesn't Spell Doom for All of Retail
Macy's shares tumbled Thursday after the department store chain reported sales had fallen in the first quarter from a year earlier, the ninth such quarterly decline in a row.
Op-Ed | Macy's Downfall Doesn't Spell Doom for All of Retail
Macy's shares tumbled Thursday after the department store chain reported sales had fallen in the first quarter from a year earlier, the ninth such quarterly decline in a row.
Retail
Macy's Shares Tumble After Weak Quarterly Sales
New chief executive officer Jeff Gennette faces declining foot traffic in malls, race-to-the-bottom discounts among his competition, and a shrinking customer base.
Macy's Shares Tumble After Weak Quarterly Sales
New chief executive officer Jeff Gennette faces declining foot traffic in malls, race-to-the-bottom discounts among his competition, and a shrinking customer base.
Retail
Kohl's Profits Helped by Lower Costs, Leaner Inventory
The department store reported a better-than-expected quarterly profit, helped by lower costs and a leaner inventory amid a tough retail environment.
Kohl's Profits Helped by Lower Costs, Leaner Inventory
The department store reported a better-than-expected quarterly profit, helped by lower costs and a leaner inventory amid a tough retail environment.
Retail
Sears CEO Blames Company Woes on 'Irresponsible' Media
Sears warned investors in March there was a chance it may not be able to continue after years of losses and declining sales. Its CEO Edward Lampert blamed its woes on news coverage that he said had been "deliberately unfair."
Sears CEO Blames Company Woes on 'Irresponsible' Media
Sears warned investors in March there was a chance it may not be able to continue after years of losses and declining sales. Its CEO Edward Lampert blamed its woes on news coverage that he said had been "deliberately unfair."
Retail
Report: Hudson's Bay Taps Debt Adviser To Review Neiman Marcus Bid
The move is the clearest indication yet that Neiman Marcus' $4.7 billion debt pile poses significant challenges to a merger with Hudson's Bay.
Report: Hudson's Bay Taps Debt Adviser To Review Neiman Marcus Bid
The move is the clearest indication yet that Neiman Marcus' $4.7 billion debt pile poses significant challenges to a merger with Hudson's Bay.
Retail
News Bites | Serena Rees' New Label, Goop to Pop-Up at Nordstrom
In today's News Bites, Agent Provocateur co-founder Serena Rees announces her new gender-fluid fashion brand, Les Girls Les Boys, and Goop's pop-up stores head to Nordstrom.
News Bites | Serena Rees' New Label, Goop to Pop-Up at Nordstrom
In today's News Bites, Agent Provocateur co-founder Serena Rees announces her new gender-fluid fashion brand, Les Girls Les Boys, and Goop's pop-up stores head to Nordstrom.
Retail
Macy's and Tailored Brands Ends Tuxedo Rental Partnership
Both companies have agreed to wind down operations of a tuxedo rental license agreement, after the initiative did not generate the revenue that they had envisioned.
Macy's and Tailored Brands Ends Tuxedo Rental Partnership
Both companies have agreed to wind down operations of a tuxedo rental license agreement, after the initiative did not generate the revenue that they had envisioned.
News & Analysis
The Department Store Loss Is Off-Price’s Gain
"T.J. Maxx and Burlington could snag $1 billion from Macy’s and JCPenney closures."
The Department Store Loss Is Off-Price’s Gain
"T.J. Maxx and Burlington could snag $1 billion from Macy’s and JCPenney closures."
Retail
Over 8,640 Stores to Close in US, Signalling Sea Change in Retail
With American store closings on track to surpass their 2008 peak, only the smart will survive.
Over 8,640 Stores to Close in US, Signalling Sea Change in Retail
With American store closings on track to surpass their 2008 peak, only the smart will survive.
The News in Brief
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.
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.