June 7 (Reuters) – Best Buy Co Inc founder Richard
Schulze said on Thursday he is exploring all options for his
20.1 percent stake in the electronics retailer, leading him to
immediately relinquish his roles as chairman and a director.

Shares of Best Buy, rocked earlier this year by the abrupt
departure of its CEO Brian Dunn amid a probe that later found he
had had an improper relationship with a female employee, were
down 8.3 percent, or $1.66, at $18.23 in morning trading.

June 5 (Reuters) – J.C. Penney Co Inc is bringing
back the word “sale” in its advertising in hopes of stemming a
sharp slide in business.

The department store operator has been trying to wean
shoppers off the long-used hundreds of sales events and coupons
– as part of a strategic overhaul by Chief Executive Ron
Johnson. The chain blames the way it has communicated the
strategy for contributing to a steep drop in sales in the first
quarter.

June 5 (Reuters) – Global sales of luxury goods should rise
7 percent a year through 2014, buoyed by a still-growing Chinese
market and barring any major economic crises, Boston Consulting
Group forecast on Tuesday.

Under a worst-case scenario, defined by BCG as a 1.5 percent
decline in gross domestic product in Western Europe, the United
States and Japan, and slowing growth in emerging markets like
China and Brazil, sales would rise only 3 percent a year.

May 31 (Reuters) – Low prices and good deals helped wary
U.S. consumers overcome their growing anxiety about the economy
in May, leading to stronger-than-expected sales for top
retailers.

Chains that cater to bargain hunters such as discounter
Target Corp and low-priced chains TJX Cos Inc
and Ross Stores Inc were among the big winners in May,
with sales at stores open at least year that beat Wall Street
expectations.

By Phil Wahba

(Reuters) – Several top retailers reported stronger-than-expected sales in May, as shoppers overcame growing anxiety about the U.S. economy and the job market.

Victoria’s Secret parent Limited Brands Inc said on Thursday that sales at stores open at least a year had risen 6 percent in the four weeks ended May 26. The report came the day after department store chain Macy’s Inc posted a 4.2 percent increase. Both companies beat Wall Street forecasts, according to Thomson Reuters I/B/E/S.

May 31 (Reuters) – Several top retailers reported
stronger-than-expected sales in May, as shoppers overcame
growing anxiety about the U.S. economy and the job market.

Victoria’s Secret parent Limited Brands Inc said on
Thursday that sales at stores open at least a year had risen 6
percent in the four weeks ended May 26. The report came the day
after department store chain Macy’s Inc posted a 4.2
percent increase. Both companies beat Wall Street forecasts,
according to Thomson Reuters I/B/E/S.

By Phil Wahba

(Reuters) – Tiffany & Co (TIF.N: Quote, Profile, Research, Stock Buzz) cut its fiscal-year sales and profit forecasts on Thursday, blaming slowing growth in key markets like China and weakness in the United States as shoppers think twice about spending on high-end jewelry.

The forecasts followed a first-quarter when sales at Tiffany’s famous flagship store on Manhattan’s Fifth Avenue fell 4 percent. The chain’s weakest London store was the one in that city’s financial district.

May 24 (Reuters) – Tiffany & Co cut its fiscal-year
sales and profit forecasts on Thursday, blaming slowing economic
growth in many countries and weakness in its home U.S. market.

The upscale jeweler’s U.S. sales started softening in the
fall and over the holidays amid concerns about Wall Street
layoffs and then picked up in the winter.

By Phil Wahba

(Reuters) – Zale Corp (ZLC.N: Quote, Profile, Research, Stock Buzz) reported a narrower third-quarter loss on Wednesday after another jump in sales in its fine brands segment, and the jeweler said momentum held up through the important Mother’s Day period.

Sales at stores open at least a year rose 8 percent in the quarter, making it Zale’s sixth quarter in a row of improving same-store sales.

May 23 (Reuters) – Macy’s Inc will start selling some
items from its private-brand collection directly to shoppers in
China through a deal with a new online retailer that will allow
it to gauge its long-term prospects there.

The department store chain said on Wednesday it will have a
Macy’s section on omei.com, a new China based e-commerce site
operated by VIPStore Co Ltd.