Kohl’s Rejects Activists’ Push for Board Shakeup
“The board has failed to help develop and oversee a strategic plan to respond to a rapidly-changing retail landscape,” the investors said.
E-Commerce Powers Best Buy Sales Gain
“Products that help people work, learn, connect and cook at home, like computing, appliances and tablets, were the largest drivers of our sales growth."
Gap’s Pandemic Pain Worse Than Expected
The troubled retailer said its online growth "leaves us well-positioned to fuel our brands going forward" but its shares sank 5.5%.
JCPenney Files Chapter 11 Despite Turnaround Gains
The iconic retailer says the progress it had been making after years of declining sales "was wiped out with the onset of COVID-19."
Kohl’s Credit Rating Dinged by S&P
Specialty department store Kohl's has its corporate credit rating cut to BBB-, the lowest investment-grade rung.
Target’s Same-Store Sales Beat Expectations
The 1.1% drop in comp sales for Q3 was a relief to investors and Target now forecasts as much as a 1% increase for the next quarter.
Ralph Lauren to Cut 1,000 Jobs, Book $400M in Charges
The high-end retailer is closing 50 stores, and expects its fiscal 2017 restructuring activities to generate $220 million of annualized expense savings.