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Department Store

  • Analysis: Macy’s making some progress

    Neil Saunders, managing director of GlobalData Retail, comments on Macy’s fourth quarter results:   

  • Macy’s Q4 earnings slump, but still beat analysts expectations

    Store closures, layoffs and shifting consumer preferences weighed down Macy’s bottom line, negatively impacting its fourth quarter earnings. And the retailer doesn’t see its slump ending in the near future.    Macy's net income fell to $475 million in the quarter ended Jan. 28, compared with $544 million in the year-ago period. Adjusted earnings per share came to $2.02, better than analysts had expected. Analysts had expected $1.95 per share for the quarter, according to FactSet.  

  • Amazon ups the ante on the free shipping race

    Amazon has again raised the stakes in the home shipping war.   Almost a year after raising its free shipping minimum for non-Prime customers from $35 to $50, Amazon subtly announced on its website that it is once again honoring free shipping on orders of $35.  

  • Another department store retailer misses

    Slowing mall traffic continued to slow Dillard’s sales in the fourth quarter.   Net income for the quarter ended January 28, 2017, was $56.9 million compared to net income of $84.0 million in the year-ago period. Included in the amount is an after-tax asset impairment of $4.2 million on a cost method investment.   Net sales for the period were $1.94 billion, down from $2.07 billion last year. This missed analyst estimates of $1.999 billion.  

  • Nordstrom Rack location set for Baltimore center

    Nordstrom Rack announced it would open its first Baltimore store at The Shops at Canton Crossing in spring 2019. It will be part of the center’s 90,000-sq.-ft. Phase II addition, which is expected to begin construction in November.  

  • Target to give a top-performing store a total makeover

    Target plans to renovate its downtown Minneapolis flagship, adding an array of new features.   The discounter will invest $10 million in a full-store remodel for the location, which opened in 2001, reported The Journal.     Less ambitious updates are planned for other Target stores in the Twin Cities area.    

  • Report: Man charged with attempting to plant bombs in Target stores

    Target Corp. is the central player in a drama that even Hollywood wouldn’t dream    A Florida man has been charged with plotting to bomb Target stores along the East Coast — an attempt to cheapen the company’s stock.  

  • Glimcher veteran joins Steiner as executive VP

    Thomas “TJ” Drought, who spent nearly 20 years in the employ of WP Glimcher, has joined Steiner + Associates as an executive VP.  
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