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  • Zale expands U.S. customer financing options

    Dallas -- Zale Corp. today announced the addition of consumer finance company, Genesis Financial Solutions, Inc., to its U.S. alternative financing program.

    The partnership with Genesis is consistent with the company’s strategy to enhance access to financing for its customers. This new financing option, which became available in October, is offered in Zales, Zales Outlet and Gordon’s retail stores.

  • J.C. Penney to celebrate Black Friday with its ‘only sale’ of the year

    Dallas -- J.C. Penney announced it will celebrate Black Friday with its only sale of the year. The retailer said more than 1,100 J.C. Penney stores will open their doors at 6 a.m. on Black Friday to offer low prices on gifts for the entire family — with no coupons or rebates required. Associates throughout the store will be equipped with mobile checkout devices.

  • Stein Mart to restate prior period financial results

    Jacksonville, Fla. -- Stein Mart Inc. announced Friday that it will restate its financial statements for fiscal years 2009, 2010 and 2011, its quarterly data for the first quarter of 2012 and for all quarters in 2010 and 2011, as well as its selected financial data for the relevant periods due to merchandising accounting errors.

  • More junk science from Consumer Reports

    Walmart will sell a bazillion electronics products this holiday season, no thanks to Consumer Reports which rates the company last as a CE destination.

    Apple and Costco were ranked one and two as the best venues for CE items followed by a bizarre classification called "independents," considering the CE space is dominated by chains. The Army and Air Force Exchange Service (AAFES) and Sam’s Club ranked highly. Walmart was last among the 14 physical retailers ranked with a score of 81, compared to Apple and Costco at 92.

  • J.C. Penney’s Q3 losses greater than anticipated; same-store sales fall 26.1%

    Dallas -- J.C. Penney Co. Inc. on Friday reported a 26.1% decline in third-quarter same-store sales, more than the 17.9% that Wall Street analysts were expecting.

    Overall sales fell 26.6% to $2.93 billion. Internet sales fell 37.3% to $214 million.

    The company said that its net loss narrowed to $123 million in the third quarter ended Oct. 27, from $143 million a year earlier. The loss was wider than analysts had expected.

  • J.C. Penney posts huge Q3 loss

    Dallas -- J.C. Penney Co. Inc. on Friday reported a 26.1% decline in third-quarter same-store sales, more than the 17.9% that Wall Street analysts were expecting.

    Overall sales fell 26.6% to $2.93 billion. Internet sales fell 37.3% to $214 million.

    The company said that its net loss narrowed to $123 million in the third quarter ended Oct. 27, from $143 million a year earlier. The loss was wider than analysts had expected.

  • Consumer confidence jumps

    New York -- Confidence among consumers hit a five-year high in November, boding well for retailers as they head into the holiday season.

    The index of consumer sentiment from Thomson Reuters/University of Michigan rose to 84.9 in November from 82.6, topping economists' expectations for a reading of 83.

  • NRF asks judge to reject proposed swipe fee settlement

    Washington -- Lawyers representing the National Retail Federation and many of the nation’s most prominent retail companies are set to appear in court today to ask a federal judge to reject a proposed class-action settlement of an antitrust lawsuit over the $30 billion a year in credit card swipe fees charged by Visa and MasterCard.



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