Sears Holdings Makes Lampert’s Winning Bid Official
Sears Holdings officials acknowledged Edward Lampert’s winning bid for the company, subject to bankruptcy court approval.
department stores
Nordstrom Rack Drives Holiday Sales Gain
Nordstrom has reported a comparable sales increase of 1.3% for the nine weeks ended January 5, 2019, highlighting the strength of its Nordstrom Rack off-price store division during the holidays.
J.C. Penney Sets Executive Changes
J.C. Penney said it has set a series of leadership actions, taking place over the next few months, that will assemble a cross-functional executive team as the retailer focuses on the needs of the value-based consumer and position the company for growth.
Stein Mart’s Holiday Comps Decline
Stein Mart’s comparable sales for the November/December holiday period declined, although the company did see sales growth in its e-commerce business.
Report: Lampert Increases Bid To Save Sears
Sears Holdings will reportedly consider a newly revised takeover bid from its chairman Edward Lampert, just days after it appeared that the bankrupt retailer was headed for liquidation.
Kohl’s Builds Momentum With Holiday Comp Gain
In the the November/December holiday season, Kohl’s generated comparable store sales of 1.2%.
Macy’s Holiday Comps Gain But Guidance Slips
For the November/December holiday season, Macy’s company-owned store comparable sales advanced 0.7% while owned plus licensed store comps gained 1.1%.
J.C. Penney Holiday Comps Decline, To Evaluate Store Portfolio
In a preliminary update on the holiday season, J.C. Penney revealed that its comparable store sales declined. The department store retailer also said it would close three stores and signaled that more store closings could be on the way as it reviews its strategies and store portfolio.
Reports: Sears To Ask Bankruptcy Judge To Liquidate
Published reports indicated that Sears Holdings plans to ask a bankruptcy court judge to allow the retailer to move ahead with liquidation plans.
Ten Former Bon-Ton Properties Up For Auction
On January 28, real estate advisory and brokerage firm A&G Realty Partners plans to auction 10 department store properties formerly owned by The Bon-Ton Stores.
Blake Nordstrom Passes
Blake Nordstrom, co-president of Nordstrom, died January 2, at the age of 58.
Stein Mart Appoints Brown Chief Financial Officer
Stein Mart has appointed James Brown as executive vice president and chief financial officer, effective December 17.
Report: Lampert Makes Bid To Acquire Sears
Edward Lampert is looking to keep the doors of Sears Holdings open for business with a $4.6 billion bid to acquire the now bankrupt retailer.
Hudson’s Bay Still In Turnaround Mode Through Q3
Hudson’s Bay said it was encouraged with its turnaround strategies through the third quarter, highlighted by a strong comp increase at its Saks Fifth Avenue division.
Burlington Boosts Outlook After Strong Q3
Burlington Stores raised its sales outlook for the year as the off-price retailer reported strong sales and earnings in its third quarter.
Stein Mart Posts Mixed Results In Q3
Stein Mart posted mixed results in its third quarter ended November 3, as the off-price retailer posted a comp increase on lower sales and a slightly higher net loss.
Kohl’s Donations Support Family Health & Wellness Programs
In the spirit of “Giving Tuesday,” Kohl’s said it will award $3.2 million in grants to more than 300 nonprofit organizations across the country that work to improve the health and wellness of children and families as part of its national giving program, which is an extension of the company’s ongoing commitment to health and wellness.
Kohl’s Rolls Out Cyber Week Doorbusters
Kohl’s said it is delivering its most rewarding Cyber Week ever with five consecutive days of doorbusters on the hottest gifts of the season from Saturday, November 24 through Wednesday, November 28.
Ross Stores Builds Momentum Through Q3
Off-price retailer Ross Stores saw its sales and earnings rise in the third quarter ahead of the company’s projections as it prepared for the holiday season push.
TJX Boosts Q3 Comps, Earnings
TJX touted a strong third quarter, as consolidated company comparable store sales advanced 7%, but earnings, although up, fell short of Wall Street expectations.