department store
Macy's Raises Profit Outlook, Doubles Dividend
10:50AM 1/05/2012
Macy's is raising its earnings outlook for the fourth quarter and full year due to a strong holiday season and says it will double its quarterly dividend to 20 cents a share. The retailer is also increasing its share repurchase program by $1 billion. The announcements came as the department store operator reported Thursday that a key measure of its December sales rose faster than analysts had expected.
Macy's Iconic Herald Square Flagship to Undergo $400 Million Facelift
11:00AM 11/03/2011
Macy's has set out to create another miracle on 34th Street with a $400 million revamp of its fabled flagship store in New York City. The planned makeover includes a new focus on upscale food with 22 eateries, and an emphasis on technology that reflects Macy's courtship of Generation Y.
Walmart Will Join Auction for Indonesia's Matahari's Hypermart
9:48AM 11/04/2010
Company News, Bank of America, Wal-Mart Stores, Stocks in the News
The world's largest retailer, Walmart Stores, wants to get even larger: It has joined the bidding war for Indonesian retailer Matahari's hypermarket business, Hypermart, a deal that could be worth up to $1 billion, unnamed sources told Reuters on Thursday.
Kohl's to Hire 40,000 Temp Workers This Holiday Season
10:40AM 10/06/2010
Retailer Kohl's said on Wednesday that it plans to hire 40,000 temporary workers during this year's holiday season at stores, distribution centers and credit operations nationwide -- 7,000 more than last year. The shopping season this year has been forecast to be stronger than it was in 2009.
London's Selfridges & Co. department store beat out Bloomingdale's in New York as the best department store in the world.
The award was given out as part of the second Global Department Store Summit held Thursday and Friday in New York. Also in the running was Lane Crawford of Hong Kong. The...
Sneaky department store tricks that get you to spend more
4:30PM 4/20/2010
It's easy to be lured in by the sale signs and special promotions at a department store, but by the time you leave, you may feel as if you've been had. Department stores employ several "tricks" to get customers to spend more -- and to the untrained eye, they are not so easy to spot.
"At the end...
Saks Cuts Losses as Luxury Shoppers Return
12:00PM 2/24/2010
Saks says business is getting better in the luxury department-store space, but the retailer will be looking at the Internet and cheaper Off 5th outlet stores for growth this year. Saks narrowed its fourth-quarter net loss to $4.6 million, meeting expectations.
Nordstrom's Profits Double But Miss Estimates
6:00PM 2/22/2010
Nordstrom's fourth-quarter results missed Wall Street's estimates, but the upscale department-store chain isn't likely to get too many complaints since it more than doubled its profits. Management gave a conservative forecast for the year, saying it will pick up the pace of remodeling stores and stock stores carefully.
Black Friday post-mortem: Sales didn't even beat the week before
11:30AM 12/01/2009
The verdict is in: Black Friday wasn't that big a deal. But the good news for retailers is there's still plenty of holiday shopping to go.
The International Council of Shopping Centers released its report on sales for the week of Thanksgiving and found the numbers slightly below those from the...
Shoppers are coming out of hibernation, but that doesn't mean the holiday season won't be a bear. October retail sales were up around 2 percent -- a little better than analysts had expected, and with new pockets of growth. But the reports were wildly uneven. Tallies of comparable-store sales had...
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