department stores

Retail
Hudson’s Bay Exits Germany, Considers Acquisition Proposal

As the corporate board reviews a privatization bid, Hudson’s Bay entered into definitive agreements to sell its remaining stake in its German real estate joint venture and divest a related retail joint venture to its partner, Signa, for $1.5 billion.

Retail
Sears Opens Three Home & Life Stores

Sears has opened a new smaller format Sears Home & Life store in Lafayette, Louisiana. Two other Sears Home & Life stores are also opening this weekend in Anchorage, Alaska, and Overland Park, Kansas. 

Financials
TJX Q1 Comps Gain

TJX enjoyed a strong first quarter performance, highlighted by a solid comparable store sales increase above the company’s expectations. 

Financials
Nordstrom Sales Fall In Q1

Nordstrom reported that its net sales decreased 3.5% for the first quarter. The company said its top-line results were impacted by three areas— loyalty, digital marketing and merchandise— which contributed to declines across its full-price and off-price businesses, in both stores and online.

Retail
Report: Sears Sues Former CEO Lampert

Sears Holdings Corp. and a group of unsecured creditors are suing the retailer’s former CEO Edward Lampert along with several board members including current Treasury Secretary Steven Mnuchin for allegedly stealing billions of dollars from the retailer.

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