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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...
...“If you manage a luxury department store as merely a financial operation as opposed to focusing on the commercial aspects, the products and the customer experience, of course it goes wrong.”...
...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....
...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...
...Retailer earnings: Ross Stores and Nordstrom will report this afternoon, potentially giving further insight into how consumer spending has fared in recent months as price pressures ease....
...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....
...Monday’s stock-market price action seemed hopeful about that idea, with department stores Kohl’s and Nordstrom posting gains of more than 7 per cent in the absence of other news....
...“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....
...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....
...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”....
...“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....
...HP and Nordstrom will post their latest earnings after the market closes....
...“My intuition, based on Trump’s continued expressions of suspicion about the big tech information sector, is that he would likely turn to his justice department and say: ‘Carry on,’” he said....
...Given government priorities including prioritising NHS spending, Hunt’s plans imply steep real-terms cuts for unprotected departments such as justice and home affairs....
...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....
...“We acknowledge the judgment and are considering our next steps,” the Department for Levelling Up, Housing and Communities said in a statement....
...At John Lewis he will work with Peter Ruis, a well-respected retail executive who recently returned to the group to revamp its department stores....
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