Neiman Marcus Takes ‘Stunning Fall’ to Chapter 11
The luxury retailer "had been struggling with competition from online rivals and dwindling cash" before the coronavirus forced it to close its stores.
Holiday Season Weakness Hits Macy’s, Kohl’s
"The rising tide of the economy is not floating all retail boats,” an analyst says of the department store chains' disappointing sales growth.
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Macy’s Comp Sales Fall for 9th Straight Quarter
The retailer's shares plunge 17% as the disappointing Q1 report added "to the sense that Macy's is on a slippery slope."
Neiman Agrees to Pay $1.6M Over Data Breach
The settlement ends a three-year legal battle between the retailer and customers whose credit card information was allegedly exposed by the 2013 hack.
Neiman Marcus Said to Be in Talks Over Sale
Canada's Hudson's Bay Company is reportedly interested in buying the iconic retailer, which has been struggling with the shift to online shopping.
Macy’s Cost-Cutting Helps Profit Beat Estimates
The outlook for sales growth, however, remains weak, with comp sales expected to decline between 2.0% and 3.0% this year.
Retail Sales Growth Slows to 0.1% Last Month
It was the smallest gain in three months but year-over-year sales were up 3.8%, suggesting a positive start to the holiday shopping season.