Department stores
As department stores go on life support, can experiential shopping, sharpened curation save them from flatlining?
At least five department store chains in Singapore have downsized in recent years, and two have exited the scene since 2016
Kohl’s is latest retailer to move away from using DEI language
The moves come under new chief executive officer Ashley Buchanan, who took over the retailer in January
Alibaba to sell department store chain Intime for 7.4 billion yuan
ALIBABA Group said on Tuesday that it will sell its department store unit Intime to a consortium comprising textiles firm Youngor Fashion and some of Intime’s management for 7.4 billion yuan (S$1.38 b...
UK retailer John Lewis to bring back 100-year-old price pledge
The employee-owned retailer returned to annual profit in March after three difficult years
Japan’s Isetan Mitsukoshi looks to take Isetan Singapore private
The scheme consideration of S$7.20 per share implies a 37.4 per cent premium over the counter’s highest closing market price in the past five years
Investors raise Macy’s buyout bid: WSJ
AN INVESTOR group seeking to buy Macy’s is raising its offer by nearly US$1 billion after the department store chain rebuffed its prior proposal as too low, the Wall Street Journal reported on Sunday.
Family Dollar fined US$41.7 million over rodent-infested warehouse
THE value-store chain Family Dollar was fined US$41.7 million, the largest-ever financial criminal penalty in a food safety case, for distributing food, drugs, medical devices and cosmetics from a rat...
US retailer Macy’s forecasts annual sales below estimates, to shutter 150 stores
MACY’S forecast annual sales largely below market expectations on Tuesday (Feb 27) on weak demand for its apparel and shoes, and said it would close 150 stores through 2026 as part of its new turnarou...
US retailer Macy's rejects US$5.8 billion takeover offer
The US department store Macy’s, which has had financial troubles for years, announced it has rejected a US$5.8 billion takeover offer, citing reservations about its would-be investors’ financing capac...
Macy’s to slash 2,350 jobs, close stores in streamlining effort
US DEPARTMENT store chain Macy’s is cutting 2,350 jobs and closing five stores, as it aims to streamline its operations, a company spokesperson told Reuters on Thursday.
