Macy’s Shares Fall 13% on Big Earnings Miss
Same-store sales improved in the second quarter but profit was hit by heavy markdowns to clear unsold merchandise.
Barneys New York Files for Bankruptcy; Closing Most Stores
The luxury department store chain has faced rising rents and unsuccessful attempts to find a buyer.
Amazon to Spend $700 Million to Upskill Employees
The retail and tech giant will expand its training programs to help employees move into more advanced roles.
Pier 1 Stock Plunges as Sales Slump Continues
The retailer is also closing a dozen more stores and could eventually "close up to 15% of our portfolio” of 967 stores.
Retail Veteran Ramsden Named Big Lots CFO
The appointment marks Jonathan Ramsden's return to retailing after leaving Abercrombie & Fitch in 2016.
Hudson’s Bay Investors Propose Go-Private Deal
"Improving HBC's performance will require significant time and patient long-term capital that is better suited in a private company context."
J.Jill ‘Disappointed’ with First Quarter Financial Results
The retailer fell short on earnings and revenue last quarter and same-store sales dropped more than 3%.
JCPenney Reports Steep Drop in First Quarter Sales
The company’s CEO remains optimistic about the retailer’s future.
Ascena Retail to Close All Dressbarn Stores
"The decision was difficult, but necessary, as the Dressbarn chain has not been operating at an acceptable level of profitability."
Pier 1 Imports Hires Turnaround Expert as CFO
Deborah Rieger-Paganis says she is "committed to instilling financial discipline across the organization as we work to drive a successful turnaround."
Diesel USA Files Chapter 11 Amid Heavy Losses
The seller of Italian jeans said a misconceived turnaround strategy caused it to enter into expensive, long-term leases for retail locations.