Clothing company Chico's FAS said Thursday it is eliminating 180 positions and may close up to 25 stores to cope with the economy's toll on retailers. Chico's, which operates its namesake retail stores, White HouseBlack Market and Soma Intimates...
Swedish clothing store H&M has said it plans to create between 6,000 and 7,000 new jobs in 2009. The company intends to open 225 new stores around the world in the new financial year. Fourth-quarter profits at H&M beat analysts'...
Simon Property Group Inc, the largest U.S. mall owner and operator, said it would pay out most of its dividend in stock, sending its shares down as much as 8.3 percent. Simon reported a 6.5 percent increase in funds from operations (FFO), a...
CoStar did some great digging--looking through retailer press releases and SEC filings--and compiled a fairly thorough look at retailer opening and closing trends for the past few years. The detailed findings are here. ...
General Growth has once again worked out an extension with its lenders. It now has until March 15 to deal with its loans. According to a press release from the company issued Friday night: ...
Westfield Group Ltd shares were down more than six per cent after the retail property investor flagged that its shopping centre assets would depreciate by $3 billion in its full year results for calendar 2008 because of an increase in...
The economic crisis is eating into high-end coffee consumption, as Starbucks found out in its fiscal first quarter. In earnings just released, the coffeemaker said it would lay off up to 6,000 employees at its stores and let go another 700 non...
Senior real estate executives are predicting more pain for the industry in 2009, with one professional warning 2009 was a year to “hold on and stay alive”. The US Real Estate Roundtable, in its latest industry sentiment survey, revealed that a...
You might not know it from the numbers. Most of the higher-end department stores such as Saks, Nordstrom and Neiman Marcus reported double-digit declines in same-store sales for December. By that measure, TJ Maxx and Marshalls, both owned by TJX...
