United Kingdom

Melissa Fares

Nordstrom beats profit estimates as it clears inventory faster and sells more online

21 Aug 2019

Upscale U.S. retailer Nordstrom Inc reported a better-than-expected quarterly profit on Wednesday as it said it had cut costs and cleared more inventory, sending its shares up 10% in extended trading.

Resale clothing company thredUP gets $175 million in funding

21 Aug 2019

NEW YORK Online resale store thredUP said on Wednesday it received $175 million in funding which it will use to expand its platform to offer resale clothing services to retailers.

J.C. Penney quarterly loss halves, sales still fall amid turnaround

15 Aug 2019

J.C. Penney Co Inc reported a smaller-than-expected quarterly loss on Thursday, as the department store operator's efforts to cut costs and shutter unprofitable businesses paid off, sending shares of its penny stock higher by as much as 14%.

Macy's shares sink as discounts to clear inventory hurt, tourism drops

14 Aug 2019

Macy's Inc cut its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted merchandise heavily to clear spring inventory, sending its shares down as much as 18%.

As Barneys struggles, fashion vendors try on alternative channels

13 Aug 2019

PARIS/NEW YORK When fashion label Prada started demanding greater control over shop floor arrangements in U.S. department stores, Barneys New York, now mired in bankruptcy proceedings, was one of the few with enough swagger to resist.

New York retail icon Barneys files for bankruptcy

07 Aug 2019

NEW YORK/PARIS Barneys New York Inc filed for bankruptcy protection on Tuesday and put itself up for sale, pushed to the brink by falling revenue and soaring rent at its stores that caused many vendors to effectively stop shipping merchandise to the luxury department store chain. | Video

For J.C. Penney CEO, debt haunts turnaround bid

06 Aug 2019

NEW YORK J.C. Penney Co Inc’s stock has plunged more than 70% over the past year and now trades under $1. Its first-quarter financial loss nearly doubled to $154 million. 

Walmart faces pressure to stop gun sales after latest U.S. mass shootings

05 Aug 2019

Walmart Inc said on Monday there has been no change in its policy on gun sales after two mass shootings over the weekend, including one at a Walmart store, left 31 people dead in Texas and Ohio.

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