Report: Selfridges Seeks $5.5B Sale as UK Department Stores Continue to Struggle

Retail Touch

Selfridges ’ owners have launched a formal auction to sell the department store chain, which has been valued as high as £4 billion ( $5.5 A successful deal could see two of the UK’s most historic department stores coming together under a single owner.

Department stores may take malls down with them

RetailWire

Mall operators have long counted on anchors, typically department stores, to attract shoppers who also visit other retailers and restaurants on their visits. With a growing number of department stores closing locations or going out of business altogether, malls are having to quickly adapt if they want to survive.

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Is this the beginning of a department store renaissance? Eh, not so much.

Steve Dennis

Then Kohl’s followed up with a similarly surprising upside report that led some to conclude that maybe, just maybe, the long-beleaguered department store sector might be seeing a resurgence or—dare we say it out loud?—the Without this shift, same-store sales would have increased only about 1.7% Penney and Sears ( and now Bon-Ton ) have been leaking volume through store closings and comparable store sales declines.

Department stores aren’t going away, but 3 big things still need to happen

Steve Dennis

It’s been a long, slow slide for department stores. In addition, Sycamore looks to be picking at the carcass of Bon-Ton Stores and Lord & Taylor is selling its iconic Manhattan flagship to WeWork. For many, this unrelenting parade of bad news leads them to believe that department stores are toast. But just as the retail apocalypse narrative is nonsense , so is the notion that department stores are going away.

Department store quarterly performance: Better isn’t the same as good

Steve Dennis

Last week we had five major department stores report their quarterly earnings: Macy’s , Kohl’s , Nordstrom , Dillard’s and JCPenney. The main reason is that department stores failed to innovate. There is no fundamental reason why any given department store cannot not have a viable operation with hundreds of physical locations, particularly when we realize that some 80% of all products in core department store categories are purchased offline.

Boscov’s Enhances Website Experience with Unified Commerce Solution

Retail Touch

Family-owned department store chain Boscov’s is upgrading its ecommerce ecosystem through an expanded partnership with unified commerce platform Kibo. Currently marking its 107th anniversary, Boscov’s operates 48 department stores in the Northeast and Mid-Atlantic.

WSJ: Saks Fifth Avenue Pursuing IPO for its Digital Operations

Retail Touch

Saks was last valued at $2 billion in March 2021 when the company split off its ecommerce business from the brick-and-mortar operations, now called SFA.

Debenhams to Find New Life Online with Acquisition by Boohoo

Retail Touch

Storied British department store chain Debenhams , which entered administration for the second time in April 2020, will live on online following the acquisition of its brand and websites by U.K.-based

Macy’s Returns to Profitability in Q4 Despite Same-Store Sales Dip; Digital Grows 21%

Retail Touch

Macy’s Q4 and full-year 2020 results show signs of a turnaround for the department store, hard hit, like many of its counterparts, by the COVID-19 pandemic.

J.C. Penney operations are out of Ch. 11 with Simon-Brookfield deal closed

RetailDive

With bankruptcy behind it, the department store chain can once again focus wholly on its business as it tries to turn around in a tough environment

Nordstrom Launches Beauty Packaging Recycling Initiative

Retail Touch

Nordstrom has launched BEAUTYCYCLE, a recycling program that allows customers to bring their empty beauty product packaging to any of the retailer’s full-line stores or Nordstrom Local service hubs in the continental U.S.

Nike Shows No Brand Is ‘Too Good’ For Amazon

Retail TouchPoints

Nike has forged a strong direct-to-consumer (DTC) push, aiming to cut product creation cycle times in half and uniting its web site, stores and digital products under a single team called Nike Direct. If Nike — one of America’s most influential brands over the past three decades — is willing to make this jump, then it’s certainly an option retailers should take seriously, especially if their in-store or online channels aren’t selling up to par.

How Amazon’s ‘Trench Warfare’ Against Unions Could Damage its Consumer Confidence

Retail Touch

Depending on the outcome from a month of mail-in voting that ended March 30, approximately 5,800 workers at the facility, BHM1, could gain the right to join the Retail, Wholesale and Department Store (RWDSU) union. with more than 500,000 in these types of operational roles.)

Report: JCPenney Cuts 650 Jobs Across Operations as it Seeks New Texas HQ

Retail Touch

JCPenney has cut 650 jobs across its stores, field operations and corporate offices, totaling approximately 1.5% The retailer also closed 242 stores during its restructuring process last year, which culminated in a sale to Simon Property Group and Brookfield Asset Management.

Saks e-commerce company preps IPO: WSJ

Retail Dive

The department store's brick-and-mortar and online operations split up in March, and some investors want Macy's to follow suit

Macy's Backstage opening 45 shop-in-shops

Retail Dive

Betting big on off-price, the department store will operate 10 more spaces than originally planned, along with more freestanding stores

Macy's mostly sticks to 'Polaris' turnaround after brutal pandemic year

RetailDive

The department store is stoking its e-commerce and off-price operations in anticipation that its recovery will gain strength in the back half of the year

Lord & Taylor to permanently close 19 stores

RetailDive

The department store and owner Le Tote, an apparel rental site, are still operating, and the company said it's seeking a buyer for both businesses

Bloomberg: Belk Will Pursue Bankruptcy to Restructure $2.6 Billion Debt

Retail Touch

The move would mark a reversal of Belk and Sycamore’s earlier plan , which would have helped the struggling department store avoid bankruptcy altogether. News Briefs Store Operations bankruptcies Belk sycamore partners

Dillard’s posts 518 percent gain in profits

Retail Wire

Dillard’s operates 250 department stores and 30 clearance centers across 29 states. Dillard’s reported a profit of $197.3 million in the third quarter, up from $31.9 million last year. in-article

Belk Files for Chapter 11, Plans ‘One-Day Reorganization’

Retail Touch

133-year-old department store chain Belk has formally filed for bankruptcy after announcing plans two weeks ago for an expedited “one-day reorganization.” 23, will see Belk continue normal operations at its 291 stores and online throughout the restructuring process.

Juganu Provides Customer Insights and Enhanced Safety Through Smart Lighting

Retail Touch

The Foam was designed to make retail locations “smart” by providing retailers with suggestions to improve operations, and creating more personalized shopping experiences for their customers. Data & Analytics Solution Spotlight Store Operations juganu smart lighting solution spotlight

Sephora Plans 260 New Stores for 2021, Including 60 Freestanding Locations

Retail Touch

Sephora is continuing its move away from malls with the announcement of the largest store expansion in its 21-year history in the U.S. More than 260 new stores are slated to open this year, including 60 freestanding locations and 200 shop-in-shops inside Kohl’s department stores.

Sears closing its last store in Michigan

Retail Wire

Sears is closing its location at Westland Shopping Center, its last remaining department store in the state of Michigan. Eight independently-operated locations continue to operate under the Sears Hometown banner in the state. in-article

Belk Adds Same-Day Delivery Option

Retail Touch

Department store retailer Belk will provide same-day delivery on select merchandise for orders placed before 2 pm, with delivery the following day for orders coming in after that time.

Macy’s Picks New Bluemercury CEO as Rightsizing and Revitalization Efforts Continue

Retail Touch

Bernstein will oversee the growth and strategy of the entire Bluemercury brand both in-store and online, and will report to Tony Spring, Chairman and CEO of Bloomingdale’s. Retail Movers & Shakers Store Operations bloomingdales bluemercury CEO Macy's Polaris

Sears’ last store in Illinois closes its doors

Retail Wire

The sad dismantling of the once iconic Sears department store chain under Edward Lampert continues with the closing of the retailer’s last store in Illinois. now has only about 35 stores in operation. Sears, which was once the largest retailer in the U.S., in-article

Former Sears stores are up for sale

Retail Wire

Seritage Growth Properties, a real estate investment trust spun off by Sears Holdings five years ago, is looking to sell between 40 and 50 of the locations that once operated under the department store’s banner. in-article

Why Data-Driven Decision-Making Will Define the Future of Retail

Retail Touch

When the first department store opened more than 100 years ago, the goal was to offer a multitude of specialty goods to a large number of people. Today, online stores serve that same purpose, but brick-and-mortar retail remains a powerful mechanism for both buyers and sellers.

WSJ Report: Amazon And Simon In Talks To Turn Vacant Mall Anchors Into DCs

Retail Touch

According to CoStar data from Q1 2020, before JCPenney’s bankruptcy filing in May and its announcement of the pending closure of 242 stores , the retailer had a presence in 48% of all U.S. Sears, which has been shrinking its store count for years, was a tenant in only 14% of U.S.

Positive Q1 Results: Lululemon, Lands’ End and Macy’s did More than Just Regain Lost Ground

Retail Touch

million ; international revenue growing 125% ; and operating margin increasing 1,080 basis points to 15.8%. “We Kohl’s , where Lands’ End is now available both online and at 150 stores, was credited as the largest contributor. Store Operations Lands' End lululemon Macy's q1 results

How UNTUCKit Scales Workforce Empowerment While Ensuring Chainwide Consistency

Retail Touch

Workforce engagement and empowerment have come to the forefront, especially as more retailers struggle to build up their store headcounts. Specifically, the direct-to-consumer (DTC) menswear brand has implemented YOOBIC across all of its stores.

Stein Mart Files For Chapter 11, Considers Closing All 281 Stores

Retail Touch

In filing for bankruptcy protection, discount department store Stein Mart has raised the possibility of closing “a significant portion, if not all, of its brick-and-mortar stores,” according to a statement.

Debenhams closing all its stores’ doors after 242 years

Retail Wire

Debenhams is closing the doors on its last remaining department stores on May 15, The retailer, founded in London in 1778, began liquidating in December. Debenhams, which struggled prior to the pandemic, found the effects of shutdowns imposed in the UK, were too much for it to continue operating. Boohoo, which acquired Debenhams in January plans to continue have it operate as an online retailer

The Need for Delivery Speed Drives Holiday Hiring

Retail Touch

Seasonal hiring provides a window into retailers’ priorities, and 2020 demonstrates both the COVID-19-powered growth in ecommerce and the need to operate stores and supply chains safely. Ecommerce execution will lean more heavily on store-based fulfillment.

How Retailers Can Control Costs Even As Return Rates Climb

Retail Touch

In the wake of COVID-19, returns are receiving serious (and necessary) attention for several key reasons: Retailers are spending more processing returns in stores. Return rates at physical stores range from 8% to 10% , but rise to approximately 20% for e-Commerce, according to data from CBRE.

Purina Pilots Interactive Endcaps in Pet Aisles of 200 Supermarkets

Retail Touch

Seeking to provide the same depth of product information that’s available online in a brick-and-mortar environment, Purina has partnered with Perch to create interactive endcaps in the pet sections of 200 Meijer stores.

Penney expected to emerge from Chapter 11 in December

RetailWire

Either way, the department store chain is expected to emerge from Chapter 11 with new owners before the end of the year

Report: New Stakeholder Jana Partners Pushes Macy’s to Split Off Ecommerce Business

Retail Touch

Activist investor Jana Partners has taken an undisclosed stake in Macy’s and is prodding the department store chain to separate its ecommerce business from its brick-and-mortar operations.

Sears closing another 10 stores

RetailWire

That list, however, will not include 10 locations that the largely irrelevant department store continued to operate. Sears began 2019 with 489 full-line stores in operation. Some may be surprised to hear that some Sears remain open. Today, that number is down to 36