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Macy's broadens presence in China with luxury website investment
CINCINNATI — Macy's is offering customers in China access to an assortment of its highly regarded private brand merchandise through a Macy's section on Omei.com, a newly established China-based online retailer of in-season luxury and fashion brands operated by VIPStore Co., Ltd.
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Big Lots Q1 profit misses
Columbus, Ohio -- Big Lots Inc. posted a lower-than-expected adjusted profit for the first quarter and cuts its full-year earnings outlook.
Big Lots' first-quarter earnings fell 22% to $40.7 million, from $52.5 million a year ago. Sales increased 5.4% to $1.29 billion. Same-store sales edged down 0.8%.
Net profit margin declined to 3.1% from 4.3% a year ago.