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Tag: department

Macy’s, Neiman Marcus look to resume exec payments as department store woes continue

Dive Brief: Macy’s has resumed its equity bonuses for top executives after a protracted closure period, emergency financial measures and recently announced corporate staff layoffs. The awards going to more than a dozen executives were worth millions, including more than $3.6 million in company stock to CEO Jeff Gennette at the time of the award. Macy’s …

Macy’s, Neiman Marcus look to resume exec payments as department store woes continueRead More

Luxury department store Harrods set to axe nearly 700 jobs – Retail Times

Following the news that the UK’s most iconic luxury department store Harrods, is axing nearly 700 jobs in a bid to cut down on costs after being hit hard during the pandemic, Andy Barr, retail expert and co-founder of online price tracking website www.alertr.co.uk, commented: “It seems the big-name stores are taking the biggest hit during …

Luxury department store Harrods set to axe nearly 700 jobs – Retail TimesRead More

John Lewis appoints Pippa Wicks to the job of ensuring its department stores stay relevant post-Covid 19

Image courtesy of John Lewis John Lewis has appointed Pippa Wicks from the Co-op Group as executive director for John Lewis, a job in which the key challenge will be to ensure that the department store stays relevant as shoppers move further online following the Covid-19 pandemic.   In the new role, which she starts …

John Lewis appoints Pippa Wicks to the job of ensuring its department stores stay relevant post-Covid 19Read More

US department stores most likely to default, S&P says

Pedestrians pass a JC Penney store in New York. Scott Mlyn | CNBC America’s department store chains have seen their odds of defaulting escalate more than any other consumer-facing companies over the past month, according to a new analysis by S&P Global Market Intelligence. “Coronavirus-related challenges are mounting for an already struggling group of retailers,” …

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US department stores can make it up to 8 months with stores closed: Cowen

With stores temporarily shut due to the coronavirus pandemic — and a slim-to-zero chance of opening in the near future — America’s department stores are facing a cash crunch.  Department store chains have enough liquidity to make it about five to eight months, with their stores sitting dark, in this coronavirus pandemic, according to an …

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This department store is still open for business despite coronavirus

Dillard’s department store. Source: Zereshk | Wikipedia Most of America’s department stores are sitting dark today.  Macy’s, J.C. Penney, Nordstrom and Kohl’s have closed their shops across the U.S. temporarily, to try to help halt the spread of COVID-19. Many specialty shops found in the mall, such as American Eagle and Gap, have also closed up. …

This department store is still open for business despite coronavirusRead More

America’s department stores are still trying to get the formula right

It has been a mixed bag for America’s department store chains reporting 2019 holiday-quarter results. But one thing is clear. These companies are still trying to get the formula right to bring shoppers to stores. While big-box chains and discounters such as Target and TJ Maxx are seeing sales gains, retailers including Macy’s and Kohl’s …

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Flipkart and Industries Department of Assam to sign a MoU for providing local artisans a platform for online marketing, Retail News, ET Retail

Guwahati: Walmart-owned e-commerce firm Flipkart and Industries Department of Assam will soon ink a Memorandum of Understanding (MoU) to provide the local artisans, Assamese jewelry makers, small tea growers, organic cultivators a platform for online marketing. Akash Misra, Director – Government Relations (East) of Flipkart engaged in a discussion with Dr KK Dwivedi, Commissioner and …

Flipkart and Industries Department of Assam to sign a MoU for providing local artisans a platform for online marketing, Retail News, ET RetailRead More

Does John Lewis warning of closures mean department stores are doomed? | Business

So it seems John Lewis is contemplating doing the unthinkable, with the middle classes’s favourite retailer hinting at store closures as it too is engulfed by the high street crisis. Department stores are in the frontline of the retail downturn: rival chains House of Fraser and Debenhams are hitting financial trouble as changing shopping habits …

Does John Lewis warning of closures mean department stores are doomed? | BusinessRead More

Beales to close 12 of its 23 department stores | Business

High street closures in 2019 Thousands of high street jobs have been lost in the last 12 months as a result of high profile retail administrations, and thousands more are at risk as Mothercare, Debenhams and Forever 21 prepare for closures. Here are some of the key industry names that have been affected. Mothercare: Has …

Beales to close 12 of its 23 department stores | BusinessRead More