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Sears narrows loss in fourth quarter
As far as sales go, Sears Holdings didn’t have a very happy holiday. But the company was still able to narrow its loss for the fourth quarter, as it lowered expenses and reduced inventory.
The company said the costs of transforming into a member-centric retailer using an integrated online platform and the omnichannel Shop Your Way membership program fueled its net losses. It attributed declining revenues to lower same-store sales and having fewer stores in operation.
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Abercrombie & Fitch responds to Engaged Capital board nominations
New Albany, Ohio -- Abercrombie & Fitch Co. has confirmed that Engaged Capital, which it says owns approximately 0.58% of the outstanding shares of Abercrombie & Fitch, has submitted notice to nominate five candidates to stand for election to the Abercrombie & Fitch board of directors.