Saks sees gross margin down in current quarter
Saks Inc cautioned on Tuesday that gross margin will fall in the current quarter as it increases price cuts to clear inventory in areas like designer women's clothing, where sales...
Retail
H&M April comparable sales fall 10 percent
Swedish budget fashion giant H&M said on Tuesday sales at stores open a year or more dropped 10 percent in local currencies in April, right in line with a Reuters poll forecast.
Selfridges named Department Store of the Year
Selfridges has won the title of department store of the year at the Global Department Store Summit, held in Paris on 10th and 11th May.
Topshop in France: speculation resurfaces…
The highly anticipated British brand has provoked rumours of its arrival in France to resurface by hiring a French press agency. After previous failed attempts and the launch of Topshop...
John Lewis sales rise as rain keeps falling
Britain's biggest department store chain John Lewis posted another double-digit rise in sales last week as the nation's wet weather proved favourable for its key household goods business.
Consumer morale takes a knock
Consumer morale in Britain worsened in April as people became more worried about the availability of jobs and shied away from buying big-ticket items like cars, a survey by lender...
Nordstrom takes hit on e-commerce expenses
Retailer Nordstrom Inc reported a quarterly profit below Wall Street's expectations after pouring tens of millions of dollars into its e-commerce business, and said it would spend more on...
Kohl's profit, margins slip on price cuts
Mid-tier department store chain Kohl's Corp reported a 23 percent drop in first-quarter profit as its gross margin was hit by price cuts designed to lure back shoppers.
Sainsbury profit climbs in tough UK market
J Sainsbury, Britain's No.3 grocer, posted annual profit towards the top end of expectations as it lured cash-strapped shoppers to its cheaper own-brand ranges and tapped into growth...
Weaker retail sales, jobs surveys raise risk of longer slump
British retail sales posted their biggest fall in more than a year last month and growth in the number of people placed in permanent jobs in Britain slowed, raising the risk of another...
The global department store summit unveils finalists up for its award
The global department store summit, which will be held on 10th and 11th May in Paris, will be the setting for the awarding of its department store of the year trophy. The three finalists...
Macy's outlook disappoints, shares drop
Macy's Inc kept its full-year profit forecast despite reporting better-than-expected first-quarter earnings on Wednesday, sending the retailer's shares down 4 percent.
Germany's Metro to double China stores in 3-4 years
Germany's Metro plans to double the number of its stores in China to more than 100 over the next three to four years to grab a bigger share of the country's growing retail market, China...
Penta, Eastbridge raise bid for retailer EM&F again
Czech private equity group Penta Investments and fund Eastbridge sweetened their bid for Polish retailer Empik Media & Fashion for the second time in two weeks on Tuesday, hoping to quash...
New Sycamore bid disappoints Talbots investors
Sycamore Partners marginally raised its bid for Talbots Inc to $214.6 million, disappointing investors looking for a more substantial offer that could ensure the sale of the struggling...