Financial News: Page 180
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J.C. Penney to close 3 stores
Despite high-spending shoppers, the holidays this year weren't much of a boon for the struggling department store as comp sales fell during the period.
By Daphne Howland • Jan. 9, 2019 -
Sears to consider revised ESL bid
In a bankruptcy court hearing Tuesday, the retailer said it will consider a revised bid, which is expected to be filed Wednesday with a $120 million deposit.
By Corinne Ruff • Jan. 9, 2019 -
Sephora Americas names head of Benefit Cosmetics new CEO
Jean-André Rougeot has led Benefit Cosmetics, another LVMH-owned brand, for 12 years, and replaces Calvin McDonald, who left for Lululemon in August.
By Cara Salpini • Jan. 9, 2019 -
Can Kroger make money selling tech to other retailers?
The grocer is partnering with Microsoft to develop digital shelves, inventory management programs and other systems it will roll out to its own stores and offer to others.
By Krishna Thakker • Jan. 8, 2019 -
Former CEO wants to buy back Beauty Brands in Ch. 11
Absolute Beauty's bid, for $4.65 million, would keep 23 stores open and is one of the preferred choices by the retailer's unsecured creditors.
By Cara Salpini • Updated Jan. 18, 2019 -
Chanel advances luxury watch operations with Kenissi investment
The fashion house is solidifying its timepiece operations at a time when some analysts say luxury sales could weather retail turbulence.
By Daphne Howland • Jan. 8, 2019 -
Nest Bedding to launch Amazon-exclusive mattress
The direct-to-consumer bedding and mattress brand ended 2018 at $28 million and hopes to expand on that growth in the year ahead.
By Caroline Jansen • Jan. 8, 2019 -
Chico's Soma brand debuts tech-enabled fit bra
Fit is a big conundrum when buying bras, and several brands have turned to tech to help the process.
By Daphne Howland • Jan. 8, 2019 -
WSJ: Charlotte Russe mulls sale, bankruptcy
The mall retailer, which has struggled to regain its financial footing, has reportedly hired Guggenheim Securities to explore strategic alternatives.
By Corinne Ruff • Jan. 7, 2019 -
Starboard urges Dollar Tree to unload Family Dollar
Family Dollar has been a drag on its parent since its 2015 acquisition, but a sale may mostly benefit investors, analysts say.
By Daphne Howland • Jan. 7, 2019 -
Sears Holdings reportedly preps for liquidation
The retailer has rejected Eddie Lampert's bid and is expected to ask a bankruptcy judge Tuesday if it can proceed with liquidation plans, sources told Reuters and CNBC.
By Corinne Ruff • Updated Jan. 8, 2019 -
Mall vacancies and rents stabilize in Q4
Slowing new development, non-retail tenants and major changes retailers are making are all helping landlords, according to real estate research firm Reis.
By Daphne Howland • Jan. 7, 2019 -
Rite Aid faces NYSE delisting
The drugstore retailer is in a tough spot after two merger plans failed, and the prospect of delisting its common stock is the least of its problems.
By Daphne Howland • Jan. 7, 2019 -
Former Toys R Us employees receive hardship fund checks
Nearly 20,000 former employees received letters that allow them to apply for severance pay from a $20 million fund created by former private equity owners.
By Corinne Ruff • Jan. 4, 2019 -
Toys R Us Asia to open 60 stores in 2019
Most stores are slated for China, the biggest growth market for the retailer, which has quickly faded from the U.S. market since its liquidation.
By Corinne Ruff • Jan. 4, 2019 -
FullBeauty expects to file Chapter 11
The plus-size apparel retailer plans to go through a restructuring process in the coming weeks to slash debt by $900 million.
By Kaarin Moore • Jan. 4, 2019 -
Apple's revenue miss threatens Best Buy
The electronics retailer is also at risk of losing market share as Apple expands its relationships with other retailers, UBS analyst Michael Lasser says.
By Daphne Howland • Jan. 4, 2019 -
Foot Locker passes $3M investment to kids' shoe startup
Super Heroic, a children's footwear retailer, has now raised $10 million since its founding in 2016, and plans to start selling in Kids Foot Locker stores.
By Cara Salpini • Jan. 4, 2019 -
Marble Ridge files anti-SLAPP motion against Neiman Marcus
Things are heating up between the luxury retailer and its lenders, which aren't happy with the transfer of its MyTheresa e-commerce business last year.
By Corinne Ruff • Jan. 3, 2019 -
Lampert's plan A and B for Sears
An affiliate of the Sears Chairman's hedge fund on Wednesday filed an alternative bid that would keep open just 250 stores.
By Corinne Ruff • Jan. 3, 2019 -
Blake Nordstrom dies unexpectedly at 58
The co-president of Nordstrom, the department store founded by his great-grandfather, had worked at the family business since he was a teenager.
By Daphne Howland • Jan. 3, 2019 -
Deep Dive
Camping World drives beyond the RV park with acquisition spree
The RV seller recently bought several outdoors retailers, in part to support its Good Sam Club, but also as a way to move further into the space.
By Cara Salpini • Jan. 3, 2019 -
Michael Kors is officially Capri
The company also declared itself a global luxury fashion house thanks to its acquisition of Versace, but there's work ahead for its newly acquired brands.
By Daphne Howland • Jan. 2, 2019 -
WSJ: Amazon will build more Whole Foods stores
Suburban areas will be the target for store growth as the grocer aims to make its Prime Now pickup and delivery services available to more shoppers.
By Kristine Sherred • Jan. 2, 2019 -
What do positive comp sales say for department stores? Not much
Despite a likely positive holiday season when all the tallies are in, the retailers are still miles behind others in the industry in terms of growth, analysts say.
By Caroline Jansen • Jan. 2, 2019