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Myer’s net profit tumbles as labour, marketing costs increase

Inside Retail

The department store chain noted incurring higher employee costs, higher support office costs related to a new marketing agency and a separate investment in transformation capabilities. billion, attributed to mixed trading conditions, store closures, and Myer Exclusive Brands stock trapped at its national distribution centre. .

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WSJ Report: Department Store Will be Amazon’s Next Brick-and-Mortar Venture

Retail TouchPoints

Amazon is continuing its advance into brick-and-mortar with plans for a series of large-footprint department store-style locations, according to the Wall Street Journal , which cited people familiar with the matter. The department store arena is an interesting one for this perennial disruptor to enter.

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New Activist Investor Pushes Macy’s to ‘Look to Dillard’s’ for Better Path Forward

Retail TouchPoints

To address this problem, Barington believes Macys should form a separate real estate subsidiary to optimize the value of its real estate portfolio as well as significantly reduce capital expenditures , following the example of its department store peer Dillards. (In Since fiscal year 2014, Macys has spent $9.7

Returns 297
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Retail Sales Drop 0.6% in November, but NRF Expects Flat Return Rate Despite Higher Sales

Retail TouchPoints

Department stores saw a 2.9% decline, furniture and home furnishings stores reported a 2.6% increase in sales, while health and personal care stores saw a 0.7% The National Retail Federation (NRF) and Appriss Retail projected that the 2022 returns rate will remain at 16.5%, nearly even with the 16.6% Another 41.4%

Returns 290
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New Kohl’s CEO Lays Out Turnaround Strategy Following Disappointing Q4

Retail TouchPoints

In his first earnings cycle at the helm , Kohls new CEO Ashley Buchanan laid out his plan to turn around the embattled company, which has struggled for years to return to a position of strength while fending off activist investors. Sales were down at the department store in both Q4 2024 and for the full year, both of which ended Feb.

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LaManna’s CEO on curating a personalised supermarket experience for the holidays

Inside Retail

Typically, consumers seek out department stores and shopping centres to get in the holiday spirit but LaManna has managed to position itself as the exception. IR : What are some returning best-selling products from past years, and whats new this year? PL: December is our busiest month, and preparation starts months in advance.

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Report: Lord & Taylor to Return as Online-Only Retailer in April

Retail TouchPoints

Lord & Taylor will return from bankruptcy as a digital-first retailer in April under its new owner Saadia Group, according to multiple sources. Known as the oldest department store in the U.S., Lord & Taylor has had a rocky couple of years.

Returns 279