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Department Stores

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Lanzhou Minbai Shareholding to reform hotel branch to wholly owned subsidiary with 48 mln yuan

Tuesday, 4 Apr 2017 10:40pm EDT

Lanzhou Minbai Shareholding Group Co Ltd <600738.SS> :Says it will reform its Lanzhou-based hotel branch to wholly owned subsidiary, which will be capitalized at 48 million yuan.

Hudson’s Bay Company Q4 loss per share $0.83

Tuesday, 4 Apr 2017 04:30pm EDT

Hudson's Bay Co : Hudson’S Bay Company reports fourth quarter and fiscal 2016 financial results . Q4 retail sales increased 2.5% to $4.6 billion . Q4 comparable digital sales increased 13.3% on a constant currency basis . $75 million in annualized savings expected from initiative announced as part of company's ongoing comprehensive operational review . Q4 results include a non-cash goodwill impairment charge of $116 million related to HBC off price . Net capital investments in fiscal 2017 are expected to be between $450 million and $550 million . Inventory at end of Q4 decreased by $28 million compared to prior year . Qtrly loss per share $0.83 . Company expects to combine inventory at Saks OFF 5th and Gilt by end of year . Currently engaged in a cross-banner review of "productivity enhancements designed to make improvements in company's operating model" . Still believe both Saks OFF 5th and Gilt have "strong strategies in place with potential to generate long term profitable growth" . Gross capital investment is expected to be between $1,025 million and $1,125 million in 2017 .Q4 revenue view C$4.48 billion -- Thomson Reuters I/B/E/S.

Woolworths says new regional structure for Australasian units

Friday, 24 Mar 2017 01:05am EDT

Woolworths Holdings Ltd - : Announce a new regional structure for its Australasian businesses, David Jones and Country Road Group .New regional structure will have no impact on combined headcount of David Jones and Country Road Group businesses.

The Bon-Ton Stores qtrly diluted EPS $2.09

Tuesday, 14 Mar 2017 06:30am EDT

Bon-ton Stores Inc : The bon-ton stores, inc. Reports fourth quarter and fiscal 2016 results . Q4 sales fell 5.5 percent to $877.3 million . Bon-Ton stores inc - qtrly comparable store sales decreased 4.7% as compared with prior year period. . Bon-Ton stores inc says comparable store sales in q4 of fiscal 2016 decreased 4.7% . Bon-Ton stores inc- for fiscal 2017, company expects loss per diluted share to be in a range of $2.08 to $2.59 . Bon-Ton stores inc sees for fiscal 2017 capital expenditures not to exceed $30 million, net of external contributions . Bon-Ton stores inc- company expects to decrease debt by approximately $20 million to $30 million by end of fiscal 2017 . Bon-Ton stores inc - full-year guidance comparable sales decrease ranging from 2.0% to 3.0%, which excludes sales from 53(rd) week .Bon-Ton stores inc - qtrly diluted earnings per share $2.09.

J C Penney says to close 130-140 stores over next few months

Friday, 24 Feb 2017 07:24am EST

J C Penney Company Inc : J C Penney announces plan to optimize retail operations, advance growth and drive profitability . J C Penney Company Inc says under plan, company expects to close two distribution facilities and approximately 130 - 140 stores over next few months . J C Penney Company Inc - decided to initiate a voluntary early retirement program for approximately 6,000 eligible associates . J C Penney Company Inc - as a result of store actions, J C Penney will close a distribution center located in Lakeland, Fla. In early June . J C Penney - total store closures represent approximately 13 - 14 % of company's current store portfolio, less than 5% of total annual sales . J C Penney Company - also is in process of selling its supply chain facility in Buena Park, Calif. In an effort to monetize a lucrative real estate asset . J C Penney Company Inc says associates who will be impacted by store and distribution center closures will receive separation benefits . J C Penney Company Inc - total store closures represent approximately less than 2% of EBITDA and 0% of net income . J C Penney Company Inc - annual cost savings resulting from these strategic decisions are estimated at approximately $200 mln . J C Penney Company Inc - during first half of 2017, company expects to record an estimated pre-tax charge of approximately $225 mln.

Wesfarmers says HY NPAT rose 13 pct

Tuesday, 14 Feb 2017 04:21pm EST

Wesfarmers Ltd : hy npat $ 1.577 billion versus $1.39 billion a year ago . half-year revenue from ordinary activities $34.917 billion versus $33.46 billion . group continues to remain generally optimistic in its outlook . strong momentum and strong market positions provide for a positive outlook for banz, KMART and officeworks for second half of financial year. . Coles will continue to focus on delivering a strong customer proposition to support long-term growth in earnings and returns. . interim dividend (fully-franked) 103 cents per share . in short term, margin pressures are expected to persist . Target's performance in second half is expected to improve relative to prior corresponding period . full-year result for resources business is expected to benefit from increases in coal prices experienced during first half . downward pressure on shelf margin in food is expected to continue in second half of financial year .earnings contribution of coles financial services is expected to decline in second half.

2017 will be a year of stabilisation for Bottega Veneta

Friday, 10 Feb 2017 05:49am EST

Kering deputy CEO Jean-Francois Palus tells a news conference: Deputy ceo says 2017 will be a year of consolidation and stabilisation for bottega veneta . Deputy ceo says online sales rose 22 percent for luxury division in 2016 .Deputy ceo says Gucci in line with its goal to reach margin of 30 percent medium term.

Nordic Capital says to sell Tokmanni shares in book-building

Thursday, 9 Feb 2017 11:33am EST

Nordic Capital: Nordic Capital announces its intention to offer shares in Tokmanni to institutional investors . Nordic Capital says sale price of shares offered will be determined by bids received in accelerated book-building process . Says Cidron Disco S.à r.l ("Cidron", a company ultimately owned by Nordic Capital Fund VII) intends to offer for sale approximately 6 million shares .Prior to the share Sale, Cidron owns 17,952,301 shares in the company, corresponding approximately to 30.50 pct of all issued shares.

Rainbow Department Store to dissolve Jiangxi commercial trading firm

Monday, 19 Dec 2016 09:41pm EST

Rainbow Department Store Co., Ltd.<002419.SZ>:Says it plans to dissolve Jiangxi-based commercial trading development firm.

Rainbow Department Store scraps spin-off plan of Xiamen unit

Thursday, 17 Nov 2016 12:44am EST

Rainbow Department Store Co., Ltd.<002419.SZ>:Says it scraped spin-off plan of Xiamen-based unit, disclosed on Aug. 17.


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