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Signa Holding
Signa sold prized KaDeWe property at cut price
...The crisis-hit Signa Group sold half of its prized KaDeWe department store building for a fraction of the valuation listed in its books, raising doubts about how much the assets underpinning billions of...
December 1, 2023
News updates from February 27: McKinsey touted its advice to Chinese government, EU parliament bars Amazon lobbyists
Macy’s to close a fifth of its stores by the end of 2026
...Macy’s is to close 20 per cent of its locations by the end of 2026, as the US department store chain implements a turnaround plan just a month after rejecting a $5.8bn takeover bid....
February 27, 2024
FT Live
Future of Retail
Securing long-term business growth with technology innovation
Tuesday, 17 SeptemberLondon, UK
News updates from March 4: US Supreme Court rules Trump can remain on Colorado ballot; aviation regulator finds compliance issues at Boeing
Macy’s shares surge 15% on raised buyout bid
...Macy’s shares surged 15.7 per cent in pre-market trading on Monday after activist investors seeking to take over the department store chain raised their offer after their initial bid was rejected....
March 4, 2024
LexUS retail
Why US department stores have most to fear as credit card debt sours Premium content
...But it is department stores, rather than lenders, that may have most to lose as the credit cycle sours. The biggest of these — Macy’s, Nordstrom and Kohl’s — do not own their credit card portfolios....
April 5, 2024
LexMacy's Inc
Macy’s turnaround plan won’t recapture the old magic Premium content
...Meanwhile, the storied US department store operator — whose name was once synonymous with retail magic — continues to lose relevance among shoppers....
February 28, 2024
Macy's Inc
Miracle on 34th St?
...Macy’s has travelled a rough road for nine years or so, to put it gently, as department stores got shouldered out of shoppers’ budgets by Amazon and fast-fashion giants....
December 12, 2023
FT Live
Business of Luxury Summit
Gathering leaders in luxury for the 20th year
Sunday, 19 MayVenice, Italy
News updates from November 16: Oil prices hit 4-month low, Wirecard hacker sentenced to 80 months in prison
Macy’s shares surge 11.2% as earnings beat expectations
...Macy’s shares surged 11.2 per cent in pre-market trading on Thursday after the department store beat expectations and adjusted its full-year profit outlook....
November 16, 2023
John Gapper
Rejoice that Santa Claus gives prime delivery to everyone
...There used to be a Santa Express Lane at Macy’s department store on 34th Street in Manhattan....
December 23, 2023
Letter
Letter: Blame real estate owners for the woes of department stores
...Far from revealing the limitations of the department store business model, as claimed by Sam Jones (“Travails of luxury department stores reveal a story of decline”, Inside Business, February 2), the cases...
February 19, 2024
Retail sector32 min
John Lewis: can kinder capitalism compete in ruthless retail? | FT Film
...It's made up of John Lewis department stores and Waitrose, the supermarket business....
May 2, 2024
News updates from January 29: US mistook enemy drone as its own in Middle East attack, Evergrande ordered to liquidate
German department store KaDeWe files for bankruptcy
...Germany’s most famous department store, KaDeWe, has filed for insolvency....
January 29, 2024
Inside BusinessSam Jones
The decline of the luxury department store
...sam.jones@ft.com Letter in response to this column:Blame real estate owners for the woes of department stores / From Christopher Knee, Honorary Adviser, International Association of Department Stores, Paris...
February 2, 2024
News updates from August 22: Microsoft submits revised Activision bid, BoE warns on corporate default risk
Macy’s results dented by discounts and jump in credit card delinquencies
...US department store operator Macy’s warned it would take a “cautious approach” towards consumers as it said steep discounts to clear inventory weighed on its second-quarter results....
August 22, 2023
News updates from December 11: COP28 draft deal drops phaseout of fossil fuels, Zelenskyy implores US not to waver in its support for Kyiv
Risers and fallers in the US
...Share moves to note on the New York Stock Exchange include Macy’s, Cigna, and Tesla: Macy’s surged 20 per cent following reports the department store operator was the subject of a potential $5.8bn buyout...
December 11, 2023
Letter
Letter: I’m a convert to change of use for stores and hotels
...Edwin Heathcote authors a jumbled argument in “Hollowed-out department stores can help the high street” (Opinion, February 17)....
March 29, 2024
FT Live
Capitalising on Shifting Consumer Behaviour in Asia
What is driving consumption and where are the opportunities?
Wednesday, 22 MayDigital Conference
Edwin Heathcote
Hollowed-out department stores offer an opportunity for the high street
...“Someday,” he said, “all department stores will become museums, and all museums will become department stores.”...
February 17, 2024
Liberty PLC
Liberty bets on own-brand goods to drive growth
...Between 2019 and 2022, sales from department stores’ private labels increased from 9 per cent to 16 per cent of turnover, according to the International Association of Department Stores....
January 13, 2024
Retail sector
Germany’s largest sports retailer doubles down on physical stores
...Von Preen said that as many department stores as well as independent sports retailers had closed in recent years there was now “a vacuum” in physical store sports retailing....
April 3, 2024
Google LLC
Google defends ‘better’ search product as US antitrust trial wraps up
...Late last year, it lost an antitrust case brought by Epic Games against its Android app store....
May 2, 2024
UK retail sales
British retail sales stagnate as shoppers cut back on groceries
...Non-store retailing, which includes online, contracted 1.5 per cent in March, while sales in department stores were down 3.8 per cent....
April 19, 2024
Style
What 2024 has in store for luxury
...Multibrand retail will take a hit The end of 2023 has been an especially difficult period for department stores, independent boutiques and other multibrand retailers, with many of them struggling under...
December 29, 2023
Live news updates from June 1: US retailers warn on consumer spending, SpaceX wins Pentagon contract
Macy’s shares plunge on trimmed outlook and reports of weak spending
...Macy’s shares plunged 9.35 per cent in pre-market trading on Thursday, after the US department store group cut its full-year guidance and warned of weak discretionary spending....
June 1, 2023
UK retail industry
Surviving UK department stores seek to avoid fate of fallen rivals
...“We can carve the old department stores up into a much more effective and productive space.”...
January 5, 2024
News updates from April 19: Israel launches retaliatory strikes against Iran; S&P 500 falls for third straight week
British retail sales flat in March, undershooting forecasts
...ONS senior statistician Heather Bovill said the gains in some areas were “offset by falling food sales and in department stores where retailers say higher prices hit trading”....
April 19, 2024
News updates from March 22: Dozens dead in Moscow attack; Princess of Wales undergoing cancer treatment
Ted Baker appoints administrators threatening almost a thousand jobs
...The brand, which has 46 stores in the UK and sells its colourful clothes online and in department stores, will continue to trade online and in stores during the administration process....
March 22, 2024

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