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...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...
...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....
...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....
...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....
...Meanwhile, the storied US department store operator — whose name was once synonymous with retail magic — continues to lose relevance among shoppers....
...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....
...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....
...There used to be a Santa Express Lane at Macy’s department store on 34th Street in Manhattan....
...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...
...Germany’s most famous department store, KaDeWe, has filed for insolvency....
...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...
...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....
...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...
...Edwin Heathcote authors a jumbled argument in “Hollowed-out department stores can help the high street” (Opinion, February 17)....
...Non-store retailing, which includes online, contracted 1.5 per cent in March, while sales in department stores were down 3.8 per cent....
...“Someday,” he said, “all department stores will become museums, and all museums will become department stores.”...
...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....
...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....
...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”....
...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...
...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....
...“We can carve the old department stores up into a much more effective and productive space.”...
...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....
...Investors were in an ebullient mood on Thursday after Macy’s delivered better than expected results. They should not give the US department store operator too much credit. The bar was low....
...I used to live in New York so take an interest in Macy’s, the department store. For some time it has traded more on its storied history than its retail prowess....
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