Published March 17, 2010
Blockbuster , Bon-Ton , Macy's
In a regulatory filing yesterday, Blockbuster Inc. mentioned that it would have to file for bankruptcy if it can’t deal with its $1-billion-plus debt load. Not much of a surprise there.
But CEO James Keyes, in an interview with Bloomberg, discounted that language in the filing, saying it was required by the company’s attorneys. He didn’t deny, however, the company’s annual lost last year of $558.2 million.
Continue reading ‘Blockbuster To File Chap. 11…Or Will It?’
Published March 12, 2010
Aeropostale , Aldi , Anthropologie , Barnes & Noble , Best Buy , Hollister , Home Depot , Interbrand Design Forum , Macy's , Target , Wal-Mart
We know that Aeropostale fares well in the recession and posts impressive sales due to its kindly priced apparel that connects with its teen audience. But as a brand name is it really more valuable than Macy’s?
Well, that’s the case, according to firm Interbrand Design Forum, which put out a list of the 50 strongest retail brand names in the country. It’s list has Aeropostale at number 35, while Macy’s is ranked 50th.
Continue reading ‘Aeropostale Trumps Macy’s as a Brand?’
Department store sales are improving and many of the big chains are doing a good job controlling inventories after a dismal start to the recession. But for this to continue, they’re probably going to start closing some doors, according to one analyst.
“We’ll see more stores close than open in 2010,” says Walter Stackow, who follows retail for Manning & Napier, in a Reuters interview.
Continue reading ‘Department-Store Closures on the Horizon’
Every day we see more and large chains releasing reports that they are seeking rent reductions with their landlords.
Recently we’ve heard from chains as diverse as Williams-Sonoma, Quiznos, Charming Shoppes and others. Macy’s is one of the few stores to come out and say it isn’t engaging in this practice, but don’t they pay way less than in-line tenants in the first place?
Continue reading ‘Are Rent Reductions Really Happening?’
Published March 3, 2009
Aeropostale , Ann Taylor , Hot Topic , J. Crew , Limited Brands , Macy's , Saks , sales results , Talbots , Wal-Mart
Analysts are predicting that most retailers had another tough sales month in February.
Department stores and apparel chains are seen getting hit the hardest, with same-store sales drops forecast at 10.1% and 8.6% respectively, according to one article.
Continue reading ‘February Another Tough Sales Month’
Published February 20, 2009
J. C. Penney , Macy's , sales results
It looks like a rocky year ahead for department stores.
The bulk of them will start reporting their quarterly earnings over the next few days, and most in the sector aren’t expecting good news…at least until some time next year. “I don’t think we are planning for a quick recovery,” J.C. Penney CEO Mike Ullman said in one article.
Continue reading ‘Department Stores To Have a Rough 2009’