REPORTJC Penney Company in its preliminary update for the combined nine-week November and December period has reported comparable store sales growth of 3.7 percent over the same period last year. “Our highest priority over the last year has been to restore profitable sales growth at JC Penney. This […]

Wanda E-commerce, the online business of Dalian Wanda Group, has received 1 billion yuan (161 million dollars) funding from Alibaba’s direct competitors Tencent and Baidu. According to Wanda Group, the investment values 4-month-old Wanda E-commerce at 20 billion yuan (3.22 billion dollars). Dalian Wanda […]

ANALYSIS “Our highest priority over the last year has been to restore profitable sales growth at JC Penney. This holiday season was instrumental in that effort – and our teams delivered. I would like to thank our associates for their hard work, warrior spirit and commitment to delivering an exceptional […]

“Due to the highly competitive nature of the current retail environment, C. Wonder will be closing its remaining stores," a spokesperson from the preppy fashion retailer said in a statement to the Daily News. "The Company continues to evaluate its best alternative to maintain the C. Wonder experience […]

Handbags and accessories retailer Coach, agreed Tuesday to acquire women's luxury footwear company Stuart Weitzman from its private-equity owner Sycamore Partners for a total consideration of 574 million dollars (377.92 million pounds), which includes 44 million dollars in (28.9 million pounds) contingent […]

REPORT Department store chain House of Fraser has reported strong Christmas sales with an 8 percent rise in like-for-like sales in the six weeks to January 3, compared with the same period last year. The company, majorly owned by Chinese conglomerate Sanpower, who picked up an 89 percent stake in the […]

Handbags and accessories retailer Coach is nearing a deal to buy shoe company Stuart Weitzman, according to media reports, citing people familiar with the matter. A deal could be announced as soon as this week. Coach will pay in the 600 million dollar range for the upscale shoe brand, the reports said. […]

Struggling fashion retailer Bank has entered into administration, less than two months after it was sold off by JD Sports Fashion to restructuring specialist Hilco Capital last November. Deloitte will over see the administration with partners Bill Dawson, Daniel Smith and Paul Meadows being named joint […]

Department store John Lewis has reported that’s its click-and-collect offering has driven online sales growth over the Christmas period, with total sales reaching 777 million pounds in the 5 weeks to December 27. Christmas sales were up 5.8 percent on last year and a rise of 4.8 percent on a like-for-like […]

Struggling UK retailer Tesco may have to inject an extra 300 million pounds per year for the next ten years to fill a gap in its multibillion employee pension scheme, pushing the retailer further back in its ongoing efforts to fix profitability. Tesco denied to comment on the extend of its pension deficit […]

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