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Retail

  • Retail sales fall 0.4% in March

    New York - U.S. retail sales fell 0.4% in March, the biggest decrease in nine months, amid a slowdown in hiring and higher taxes. Excluding sales of autos, gas and building materials, core sales dropped 0.2% in March, following a 0.3% increase in January.

  • Report: Costco co-founder to earn entrepreneur award

    New York -- The University of Missouri-Kansas City will present Costco co-founder Jim Sinegal with its Entrepreneur of the Year award at a special ceremony this fall, according to published reports.

    The St. Louis Post-Dispatch reported Thursday that Sinegal, who retired as the club retailer's CEO in January 2012, would be among the honorees of the university's 28th Annual Entrepreneur of the Year Awards celebration.

    Sinegal founded Issaquah, Wash.-based Costco together with Jeff Brotman in 1983.
     

  • Report: J.C. Penney hires Blackstone to raise some $1 billion

    New York -- J.C. Penney Co. has hired the Blackstone Group explore how best to position the firm financially and help it raise cash, the Wall Street Journal reported.

    The company is reportedly seeking $1 billion in cash, according to the Wall Street Journal, which added that options could include selling a minority stake. Penney already has been in contact with several private equity firms about a potential investment, according to the report.  

  • WSJ: Hedge fund pressures Jones Group to sell parts of portfolio

    New York -- A report by the Wall Street Journal on Friday said that hedge fund Barington Capital Group is pressing Jones Group Inc. to slim down by divesting parts of its portfolio.

    Citing an unidentified source, WSJ said that Barington – in a meeting earlier this month – urged Jones to hire financial advisers to analyze many of the company’s 35-plus to pare down the portfolio and focus on its core and emerging brands.

  • Destination Maternity Q2 sales fall 2.1%

    Philadelphia -- Destination Maternity its total sales for the second quarter fell 2.1% to $134.9 million from $137.8 million. The company attributed the drop to the closure of all of its remaining leased departments within Babies “R” Us stores in October, along with the closures of underperforming stores.

    Despite the sales drop, Destination Maternity said it now expects its second-quarter profit to fall in the top half of its previously projected range of 38 cents to 44 cents per share, crediting tight management of its expenses.

  • Report: Apple taps Foster + Partners to update store design

    New York -- Apple has tapped Foster + Partners to refresh its store design, according to a report by Marketing.

    The London-based architectural company has a history with Apple. It was hired by the late Steve Jobs to help design and create Apple’s new UFO-styled corporate headquarters, which is still under construction.
     

  • The J.C. Penney Debacle: Five Lessons Learned

    By Ellis Verdi, president of the NYC advertising agency DeVito/Verdi

    Here are the five lessons I learned from the J.C. Penney debacle — unfortunately we knew all of this before Ron took his ideas to market.

  • Judge won’t dismiss Macy’s claim against Martha Stewart

    New York -- New York State Supreme Court Justice Jeffrey Oing on Thursday refused to dismiss Macy's Inc's claim that Martha Stewart Living Omnimedia violated its contract when it designed certain merchandise for J.C. Penney Co., regardless of whether the items carry the Martha Stewart brand.

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