Neiman Marcus Emerges From Chapter 11
After almost five months under bankruptcy protection, Neiman Marcus Holding Co., formerly the Neiman Marcus Group, has emerged from Chapter 11.
department store
Dillard’s Q3 Sales Down, Comps Flat
Third quarter net sales at Dillard’s was down year-over-year as comparable sales for the three months ended November 2 was flat.
Report: J.C. Penney Preparing For Debt Relief Talks
Struggling department store chain J.C. Penney may soon be seeking debt relief from its creditors as the retailer prepares for the holiday season, Bloomberg reported.
Le Tote To Acquire Lord + Taylor From HBC
Hudson’s Bay Co. and Le Tote, a fashion rental subscription service, have entered into an agreement for Le Tote to acquire the Lord + Taylor department store chain.
J.C. Penney Seeks Reverse Stock Split To Meet NYSE Listing Criteria
J.C. Penney plans to pursue a reverse stock split of its common stock in an effort to meet the New York Stock Exchange’s listing criteria.
Report: J.C. Penney Creditors Seek Meeting Over Possible Debt Swap
Creditors of J.C. Penney reportedly are looking to meet with officials at the department store chain to discuss a debt swap that could give the retailer additional time to fix the company’s fiscal issues.
Report: J.C. Penney Eyes Debt Restructuring Options
Struggling department store chain J.C. Penney, facing debt payments of approximately $4 billion over the next few years, has reportedly hired advisors to examine debt restructuring options.
Kohl’s Sees Sales Decline In Q1
Following a decline in first quarter net sales and comparable store sales, Kohl’s CEO Michelle Gass said the retailer is “actively addressing opportunities” that impacted revenue in the three month period ended May 4.
J.C. Penney Q1 Comp Sales Down
The first quarter was a challenging one for J.C. Penney as the company reported decreases in total sales and comparable store sales for the period ended May 4.
Report: Sears Readies Smaller Format Stores
Sears is gearing up to open its first set of smaller format stores, dubbed Sears Home & Life, according to a report in the Washington Post. According to the report, the stores will open doors by Memorial Day 2019.
Wafford Named New CFO At J.C. Penney
J.C. Penney has named Bill Wafford its new chief financial officer. He succeeds Michael Fung, who will remain with the company through the end of April.
Dillard’s Reports Q4, Annual Comp Store Sales Growth
Strong sales in home and furniture were cited by Dillard’s as key factors to modest comparable store sales growth in the fourth quarter, as overall sales in the 13-week period ending February 2 were flat.
Neighborhood Goods Department Store Eyes New York
According to a CNBC report, Neighborhood Goods, which bills itself as a new kind of department store, has received $8.8 million in new funding and will open a location in New York.
Macy’s Names Ongman Chief Merchandising Officer
Macy’s has named Patti Ongman as the retailer’s chief merchandising officer, succeeding Jeff Kantor who is retiring.
Report: Bloomingdale’s Testing Major Appliances In NYC Store
Bloomingdale’s has long offered its customers a broad selection of housewares. Now, the upscale department store is adding major appliances to its mix.
Macy’s Appoints Outler Chief Diversity Officer
Macy’s has named Shawn Outler evp/chief diversity officer.
Macy’s Rolls Out Virtual Reality Design Program
Macy’s and Marxent have partnered on what the two companies said is the largest virtual reality rollout in retail history, with approximately 70 Macy’s VR installations in stores nationwide.
J.C. Penney Names Soltau CEO
J.C. Penney has named Jill Soltau as the department store’s new CEO and member of its board of directors, effective October 15.
Nordstrom Raises Outlook After Strong Q2
The second quarter was a strong one for Nordstrom as growth in sales and net earnings led the company to raise its outlook for the remainder of its fiscal year.
J.C. Penney Q2 Comps Up Slightly, Net Loss Grows
Second quarter comparable sales at J.C. Penney were up slightly, but the department store retailer reported a larger net loss for the three months ended August 4.