Retail

Target Aims Globally in Zellers Stores Deal

Target Aims Globally in Zellers Stores Deal

MINNEAPOLIS—Target has made its move to become an international retailer by agreeing with Hudson’s Bay Co. to purchase the leases of up to 220 Zellers stores in Canada. Valued at $1.845 billion, the deal gives Target the leasehold interests in up to 200 sites currently operated by Zellers. It will put Target on track toMore »

NRF Panelists: Consumer Power to Skyrocket

NRF Panelists: Consumer Power to Skyrocket

NEW YORK—Retail leaders from throughout the nation and abroad gave their views on the outlook for retailing over the next day in yesterday’s National Retail Federation Convention session, “Consumer 2020: What Lies Ahead for the Retail Industry.” Moderated by Alison Paul, vice chairman and U.S. Retail Leader for Deloitte, the session included Cathy Green, presidentMore »

Sears Holdings Same-Store Sales Off Slightly in December

Sears Holdings Same-Store Sales Off Slightly in December

HOFFMAN ESTATES, Ill.—Comparable-store sales for Sears Holdings, parent of Sears and Kmart, slipped 1.7 percent in December. The same-store total encompassed a six percent dropoff in comparable-store sales for Sears’ U.S. stores and a 2.3 percent same-store increase for Kmart. Increases in sales of home products helped boost the Kmart number, along with gains inMore »

J.C. Penney Promotes Three in Finance, Sourcing and Technology

J.C. Penney Promotes Three in Finance, Sourcing and Technology

PLANO, Texas–J. C. Penney Company has made a series of senior leadership promotions in its finance, sourcing and technology organizations. Those promotions include Michael Dastugue to executive vice president and chief financial officer; Ken Mangone as executive vice president of product development, design and sourcing; and Ed Robben as senior vice president and chief informationMore »

Otto Group’s U.S. Division Acquires Bombay Brands

Otto Group’s U.S. Division Acquires Bombay Brands

NEW YORK—Hermes-Otto International USA LLC, the U.S. division of the global fashion and lifestyle company Otto Group, has acquired Bombay Brands LLC along with its brand, The Bombay Company. The purchase price was not disclosed. H-OI previously served as the exclusive North American licensee of Bombay products, but with this purchase it now has direct,More »

NRF Convention Marks Association’s 100th Anniversary

NRF Convention Marks Association’s 100th Anniversary

NEW YORK—The National Retail Federation’s Annual Convention, which is taking place this week at the Jacob K. Javits Convention Center here, is celebrating the association’s 100th anniversary. In recognition of the event, Mayor Michael R. Bloomberg has proclaimed the period from Jan. 8-12 National Retail Week in New York City. More than 18,500 attendees andMore »

Retailers Register Laggard December Same-Store Sales

Retailers Register Laggard December Same-Store Sales

NEW YORK—After hitting the accelerator in November, major U.S. retail chains saw their same-store sales numbers brake somewhat last month, despite the holiday season. In the department-store channel, Dillard’s led the way with an impressive 7 percent comparable-store gain, on top of its 8 percent increase in November. Both Kohl’s and Macy’s reported 3.9 percentMore »

Eddy, Catuna Promoted at BJ’s; Company to Restructure Operations

Eddy, Catuna Promoted at BJ’s; Company to Restructure Operations

NATICK, Mass.—As rumors continued to circulate about a possible takeover, BJ’s Wholesale Club announced several personnel and operational moves this morning. Robert Eddy, senior vice president and director of finance, and Cornel Catuna, senior vice president of field operations, have been promoted. Eddy will assume the post of executive vice president and chief financial officer,More »