FINANCE

Despite posting its third annual fiscal loss, Neiman Marcus is launching a new digital strategy to help strengthen the brand going forward.

RH has repaid its second lien term loan — in just over three months after securing it.

Phillips Edison, one of the nation’s largest owners and operators of grocery-anchored shopping centers, has formed a new $4 billion REIT focused on this still-growing sector of physical retail.

Perfumania Holdings received legal approval to move forward with its reorganization strategy.

At a time when most private equity firms are growing increasingly cautious about investing in retail, one firm is going against the grain.   Sycamore Partners is raising its biggest-ever fund, which it will use to invest primarily in retail, CNBC reported. The firm is looking to raise between $3 billion and $4 billion, according to the report.    The news comes a month after Sycamore closed on its $6.9 billion acquisition of Staples, which it is splitting into three parts.  

Off-price retailers will remain among the top performers in the U.S. retail industry during the next 12 to 18 months.   That's according to a new report from Moody's Investors Service. The outlook is not as positive for department stores, which will continue to struggle as they seek to level the playing field with both off-price and online vendors.  

Costco Wholesale Club reported better-than-expected profit and revenue for its fourth quarter.   Net sales for the 17-week fourth quarter ended Sept. 3 rose 15.8% to $41.36 billion from $35.73 billion in year-ago period, which had 16 weeks. Total same-store sales rose 6.1%, with a 6.5% increase in the U.S. and a 4.9% increase in Canada. International same-store sales rose 5.6%    E-commerce sales in the quarter were up 21%. Membership fees rose 13% to $943 million.   

As of August 31, 16 retailers have filed for Chapter 11 bankruptcy in 2017. Four of those sixteen retailers are filing for “Chapter 22”, meaning this is their second time declaring bankruptcy. Chapter 22 cases show that the first bankruptcy failed and that the firm and its advisors were too optimistic regarding the firm’s viability out of bankruptcy. The chart below summarizes the four Chapter 22 filings over the past year: