The Australian department store chain recorded a half-year profit increase of 5.3 per cent, despite total sales for the six month period dipping 0.6% on customer fatigue and poor a stocktake sale performance.
Starboard Value LP, the activist hedge fund that had pressured Macy's Inc to separate its real estate from its retail business, has sold its stake in the U.S. department store operator, sources said on Wednesday.
Bon-Ton posted a 4.7% decline in fourth quarter comparable sales due to a decline in sales trends and unseasonably warm weather. The company remains poised for growth following progress made in the year.
Parisian trade shows seem to be recovering from the attendance downturn they suffered after the 2015 terrorist attacks. Shows held in March boasted a healthy rise in visitors, thanks in part to more Japanese buyers.
The owner of the Danish apparel group has increased his stake in Asos to 29% according to regulatory filings Tuesday, taking its investment to just below the 30% mark that would trigger a mandatory bid for the company.
Neiman Marcus posted a net loss of $117.1 million in the second quarter and a loss of $140.6 million for first half of its fiscal year. The retailer is reportedly exploring a sale or debt restructuring.
The Scottish fashion design star has created a limited edition collection of men's and women's clothes and accessories to celebrate the worldwide release of Bill Condon's film. The collection will be available in-store and online from 16th March.
Bloomingdale's has opened its first store in Kuwait City, Kuwait, in partnership with local distributor Al Tayer Insignia. It's the second Bloomingdale's international store to open after Dubai, in 2010.