Nordstrom Inc. missed Wall Street expectations with declining profit in the first quarter of fiscal 2015, although the department store retailer beat expectations for sales, aided by impressive e-commerce results.
Bad weather, decreased spending by international tourists due to the strong U.S. dollar and delayed merchandise shipments from the West Coast port slowdown all contributed to Macy’s missing Wall Street projections for profit and revenue in the first quarter of fiscal 2015.
Canada’s Loblaw Companies Ltd. said it will pull its Joe Fresh brand from J.C. Penney stores in the United States at the beginning of next year as it looks to concentrate on freestanding Joe Fresh stores and e-commerce.
Nordstrom may well be the first public company to have three presidents as co-presidents. The department store retailer on Tuesday announced that Blake Nordstrom, Pete Nordstrom and Erik Nordstrom have been named co-presidents of Nordstrom.
Curbside pickup is easy, and so is texting. Combine them, and you have the supreme convenience of a new service Nordstrom is piloting in 20 stores, including its flagship in downtown Seattle, according to various media reports.
Sears Holdings Corp. announced the two remaining stores involved in its deal with European fashion retailer Primark. (In late 2014, Sears entered into lease agreements with Primark for seven standalone stores in the Northeastern United States.)
Sears Holding Corp. and Santa Monica, California-based shopping mall operator The Macerich Co. are forming a 50/50 joint venture that will purchase nine Sears stores located in Macerich malls for $150 million.
J.C. Penney Co. Inc. is expanding its in-store partnership with Sephora. Starting May 1, Penney will introduce Sephora to 25 additional stores, enabling the global beauty retailer to enter new and smaller markets, while expanding Penney’s reach as a destination for beauty.
The National Retail Federation (NRF) and Retail Industry Leaders Association (RILA) have filed a friend-of-the-court brief with the U.S. Court of Appeals saying the National Labor Relations Board’s decision to recognize a “micro-union” of workers in a single department at a Macy’s store in Massachusetts was incorrect.
The National Association of Chain Drug Stores announced during its Annual Meeting, the election of new officers, four new executive committee members and five new board of directors member for the coming year.
Whether it’s on jewelry or apparel, gift cards or brunch, families this year are expected to spend more for Mother’s Day than they have in the last decade or more. And the largest portion of that spending will be at U.S. department stores.