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.
Stage Stores’ comparable sales were down in the first quarter ended May 4, but the retailer said it was encouraged by its off-price store conversion plan and its expansion of the home department.
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.
Stein Mart is installing Amazon Hub Lockers in nearly 200 of its stores across 28 states. Amazon Hub Lockers are secure, self-service kiosks that provide customers of the online retailer an alternative delivery option to pick up and return their Amazon packages.
Kohl’s has been rapidly revamping its approach to the consumer, testing, and in several cases, rolling out new initiatives including partnerships with everyone from Amazon and Planet Fitness to Weight Watchers and Aldi to entice shoppers.
Hudson’s Bay Company (HBC) said it is pursuing strategic alternatives for the Lord + Taylor operating business, including a possible sale or merger.
Kohl’s said that all of its stores will now be accepting free returns for Amazon customers starting in July.
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.
The National Father’s Day Council will recognize Tom Kingsbury, president, CEO and chairman of Burlington Stores, as a 2019 “Father of the Year” honoree. The 78th annual Father of the Year Awards will be presented at the New York Hilton Midtown Hotel on June 13.
J.C. Penney has made several appointments to its executive team, including in its home categories, as it continues to reinforce its growth initiatives.