News

J.C. Penney loss widens on store closing efforts; to boost apparel
Liquidation efforts took a toll on J.C. Penney in its second quarter, which reported earnings and same-store sales below estimates. Penney's net loss widened to $62 million in the quarter ended July 29, or 20 cents per share, from $56 million, or 18 cents per share, in the year-ago period.
Strong online growth helps Nordstrom top Q2 estimates
Nordstrom on Thursday reported positive results for its second quarter amid ongoing discussions of a possible buyout. The upscale department store retailer reported that total net sales increased 3.5% to $3.79 billion in the quarter ended July 29, compared to a forecast for $3.75 billion. Total company same-store sales rose 1.7%, also better than expected.

Parent company of Winn-Dixie and Bi-Lo taps veteran grocery exec as CEO

Southeastern Grocers has made a temporary appointment permanent. The supermarket operator, parent company of Winn-Dixie, Bi-Lo, Fresco y Más, and Harveys, has appointed Anthony Hucker president and CEO, effective immediately. Hucker has served as interim president and CEO since July 1, 2017.
Specialty retailer emerges from Chapter 11 — on hunt for new CEO

After eliminating in excess of $435 million in funded debt. Payless ShoeSource has emerged from bankruptcy — with a slimmed down U.S. portfolio and a cleaner balance sheet.
Study: One-fifth of emails never hit shopper inboxes

With 20% of emails being filtered into spam folders, retail marketers are missing out on the opportunity to drive an ROI from email. This was according to “2017 Deliverability Benchmark Report,” a study from data solutions provider Return Path. The report analyzed 2 billion brand emails.
Commentary: Real chance of a turnaround at Macy's, but...

After a torrid opening quarter, Macy's second quarter numbers come as a relief. Certainly, a same-store sales decline of 2.8% is far from good, but it is one of the better performances Macy's has turned in over recent periods. Of course, the question is whether this gentler decline represents a genuine turning point for Macy's, or whether it is simply a bottoming out after years of sharp deterioration.
Ivanka Trump opening store in her father's namesake building

The Ivanka Trump brand is making its second foray into freestanding retail. The company will open a location in Trump Tower on Manhattan’s Fifth Avenue this fall, giving the tourists who visit the site a chance to buy Ivanka Trump-branded merchandise, Bloomberg reported. The brand previously had a jewelry shop in Manhattan, which closed in 2015. It also shuttered its only other location, a luxury shop in Beijing.
Home decor chain sees big opportunity in Texas

At Home Group continues to expand its store network in the Lone Star state. The fast-growing retailer announced the grand openings of three locations in the greater Houston area, including a newly redeveloped store in Katy, Texas, that opens on July 19. Construction is underway on stores in Pearland and Richmond, Texas, that are slated to open in the fall. The Katy location is one of seven At Home stores in the greater Houston area, and one of 26 in Texas.
The Westchester launches social media sweepstakes
Canadian outerwear brand in brick-and-mortar expansion

A premium outerwear best known for its signature goose-down jacket with fur-trimmed hood is expanding its fledgling store footprint. Canada Goose Holdings Inc. announced plans to open three additional retail stores this fall, with locations in Boston, Calgary (Canada), and Tokyo, Japan. Also opening this fall are two previously announced stores in Chicago and London.