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  • Report: Ackman sticking with J.C. Penney

    New York -- A Wednesday report by Women’s Wear Daily quoted activist investor Bill Ackman, whose Pershing Square Capital Management is the largest shareholder of J.C. Penney Co., as saying that he won’t abandon the retailer following this week’s CEO shake-up.

    "We are not going anywhere," Ackman told WWD in his first public comments since Ron Johnson was fired as CEO on Monday. "In fact, we're going the other direction. We're digging in."

  • Bed Bath & Beyond Q4 and full-year profit rises

    Union, N.J. -- Bed Bath & Beyond Inc. reported Wednesday that net income for the quarter ended March 2 increased 14% to $373.9 million, compared with $351 million in the year-ago period. But the retailer’s guidance for the current quarter came up short.

    Sales leaped 24.5% to $3.401 billion, from $2.732 billion, and same-store sales rose 2.5%.

    For the fiscal year, net earnings rose 12% to $1.038 billion), from $989.5 million. Full-year revenue rose 14.9% to $10.915 billion, and same-store sales for fiscal 2012 increased 2.7%.

  • Co-Innovation is the Key

    By Mark Ledbetter, [email protected]

    There's a season for everything, and that's no less true for retailers. Merchants have historically enjoyed a central position in the retail universe, driving everything from pricing to availability. How quickly things have changed. Today, try telling a 19-year-old that she can't get a discount on the slightly frayed jeans she found on the discount rack. She'll buy a similar pair online and Tweet about it so fast, it will make your head spin!

  • Alliance Data acquires Barneys private label credit card portfolio

    Dallas -- Alliance Data Systems Corp. announced its retail services business has signed a long-term agreement to provide private label credit card services for Barneys New York.

  • RILA: Retailers say no ‘Sacred Cows’ in corporate tax reform

    Arlington, Va. -- The Retail Industry Leaders Association said Monday via a written letter to the House Ways and Means Committee that all corporate tax preferences need to be “put on the table” so that politics can be neutralized and progress can be made.

  • Nordstrom expands push into Canada with second Toronto store

    Seattle -- Nordstrom said Monday it will open a new namesake department store in Toronto in fall 2016, making its foray into the country a two-store debut.

    The three-story, 188,000-sq.-ft. store planned for Toronto's Yorkdale Shopping Centre will join a previously announced, smaller store in the city's Sherway Gardens mall.

  • Bloomingdale's and Me-Ality to roll out in-store sizing stations

    New York -- Digital sizing station company Me-Ality said Monday that Bloomingdale’s has partnered with Me-Ality to provide enhanced denim services by installing digital sizing stations in five Bloomingdale’s stores.

  • Macy’s, Martha Stewart and J.C. Penney back in court

    New York -- The fight over Martha Stewart resumed with both Macy's and J.C. Penney Co. back in a New York court on Monday. The trial, over whether Macy's has an exclusive right to sell select Martha Stewart home goods items, resumed after a month-long mediation effort failed to yield a settlement.

    On Monday, Macy’s alleged Penney has begun selling some items on its website that infringe on Macy’s exclusive deal with Martha Stewart.

     

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