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FINANCE

  • Index: Promotional intensity causing Q1 profit pressures

    Retailers’ margins could be under pressure during the first quarter as a new index tracking promotional selling shows full price sales have declined and promotional activity has increased.

    Retailers are relying heavily on discounts and promotions so for this year, continuing the trend from the 2015 holiday season of pulling the promotional lever far too often, according an analysis of $5 billion in consumer transactions from January through March conducted by DynamicAction.

  • It’s not all gloom and doom: April sales surprise

    While you wouldn’t know it from first-quarter slump among department stores, total retail sales posted their biggest increase in April in a year, allaying fears of a consumer falloff.

  • Lowe’s takeover of Canadian home improvement chain gets regulatory OK

    Lowe’s takeover of Canadian home improvement chain gets regulatory OK With regulatory hurdles out of the way, Lowe's Cos. is one step closer to completing its acquisition of Canadian home improvement retailer Rona Inc. Lowe's has officially been granted approval under the Investment Canada Act and clearance from the Competition Bureau. Rone operates nearly 500 stores in Canada.

  • Trump: Amazon has “huge” antitrust problem

    Presumptive Republican presidential nominee Donald Trump is no fan of Amazon, its founder and CEO Jeff Bezos, and The Washington Post, which Bezos also owns. Trump told Fox News personality Sean Hannity that "Amazon is getting away with murder, tax-wise. He's using The Washington Post for power so that the politicians in Washington don't tax Amazon like they should be taxed.”

  • Report: J.C. Penney ahead of the curve

    Despite J.C. Penney's disappointing sales results, the chain still performed better than its peers in the first quarter. What’s more, Penney an array of new initiatives lined up to help it connect better with a new era of shoppers. To read more, click here

  • Party City shrinks loss

    Party City Holdco Inc. narrowed its loss in the first quarter as gross margins improved. The party supplies retailer and wholesaler reported a loss of $394,000, in line with Wall Street expectations, for the quarter ended March 31, down from a loss of $8.5 million in the year-ago period. Total revenue was flat at $457.7 million, which missed Street forecasts.

  • Spring retail funk hits Kohl’s as Q1 profit plunges

    Call it a spring retail funk. The day after Macy’s posted disappointing results for its first quarter, Kohl’s Corp. upped the ante, reporting an 87% drop in net income amid heavy one-time costs. Kohl’s net income for the three months that ended April 30, was $17 million, down 87% from the $127 million Kohl's earned in the year-ago period. Excluding impairments, store closings and one-time costs, net income was $58 million, down 55%.

  • Rough going for Macy’s

    Macy’s on Wednesday reported its fifth consecutive decline in same-store sales, and announced plans to improve its performance, from new product launches to more off-price shops. The nation’s largest department retailer also reduced its sales and earnings guidance for the year. Similar to many retailers, Macy’s is challenged by an overall retail environment marked by sluggish traffic, increased competition and cautious consumers.
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