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  • NRF: Data breach law must be comprehensive

    The National Retail Federation testified before Congress Wednesday on the need to pass a federal data breach notification law that applies to all entities that handle sensitive customer data.

  • PREIT adds key tenants to premier malls

    Philadelphia -- Shopping center owner PREIT said that it will add several key – and some first-to-market – tenants to several of its upscale malls.  

    At Cherry Hill (New Jersey) Mall, new tenants include lululemon athletica, Tumi, and e.l.f. studio; Primark will open in 2016 at Willow Grove (Pennsylvania) Park; and Garage will open at Woodland Mall, in Grand Rapids, Michigan.

  • J. Crew swings to Q4 loss, dragged down by namesake brand

    New York -- J. Crew Group Inc. saw fourth quarter namesake sales and traffic counts fall, which dragged down results for the quarter ended Jan. 31.  J. Crew reported a loss of $30.6 million for the fourth quarter, compared with a profit of $5.9 million in the year-ago period. An impairment charge contributed $26 million to the negative results.

  • Walmart to address shareholders on June 5

    Amid a fast-changing industry in which retailers seek to harmonize their online and physical stores, the largest retailer in the world has announced the date of its annual shareholders meeting.

    Wal-Mart Stores announced the meeting will be held on June 5 at 7 a.m. CDT in the Bud Walton Arena at the University of Arkansas in Fayetteville, Ark.

    The meeting will be webcast on the company’s website at http://stock.walmart.com. The company also announced that April 10 is the record date for that meeting.

  • Traffic woes hurt J. Crew in Q4

    A shift toward online sales is one reason why J. Crew Group Inc. says it lost $30.6 million in the fourth quarter.

    The retailer has been dealing with traffic problems at its namesake stores as more of its customers migrate to the J. Crew website, the company says. 

  • California mall operator rejects $22 billion Simon bid

    Santa Monica, Calif. – Macerich Co., a California-based mall operator whose properties include Tysons Corner Center in Tysons Corner, Virginia, has rejected a hostile $22 billion takeover bid from Simon Property Group Inc. Macerich has publicly stated it thinks the deal undervalues its portfolio and growth opportunities.

    "It is truly disappointing Macerich would not even meet to discuss our proposal," said Simon Property CEO David Simon. "Macerich's rejection is based on a rosy view of its future prospects."

  • J.C. Penney chief marketing officer leaves

    Plano, Texas – Deb Berman, chief marketing officer of The J.C. Penney Co. Inc., has left the company. In a statement, J.C. Penney said Berman left of her own accord.

    Berman came to Penney from Kraft Foods Group in August 2013, as part of CEO Mike Ullman’s attempt to rebuild the retailer’s management team.  She served at Kraft as VP of marketing and engagement and also had prior experience working at advertising agencies.
     

  • Burlington keeps turnaround going with 25 new stores planned

    Buoyed by impressive fourth quarter sales, Burlington Stores Inc. is accelerating its expansion strategy, with plans to open 25 new stores in 2015 and a long-term goal of 1,000 stores coast-to-coast.

    The off-price retailer reported that total revenue for the fourth quarter ended Jan. 31 grew 10% to $1.5 billion from $1.34 billion. Same-store sales rose 6.7%.

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