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Jun 24, 2013

Neiman Marcus files for IPO as private equity owners seek exit

By Phil Wahba

(Reuters) – Neiman Marcus Inc NMRCUS.UL filed registration papers on Monday for an initial public offering as its private equity owners eye an exit for their long-held investment in the luxury department store operator.

The Dallas-based retailer has been in the hands of private equity since 2005, when TPG Capital and Warburg Pincus LLC led a group that bought the Dallas-based retailer for $5.1 billion.

Jun 12, 2013

Analysis: Raising prices easier said than done for U.S. companies

NEW YORK (Reuters) – Walt Disney Co last week hiked single-day admission prices at its U.S. theme parks by up to 9.6 percent, the fifth increase since 2009. But other U.S. companies might want to think twice before following suit.

Just ask Kohl’s Corp.

The department store chain raised prices two years ago only to see shoppers take their business elsewhere. It has been struggling to make up lost ground ever since and recently said it would ramp up advertising to lure customers back.

Jun 12, 2013

Raising prices easier said than done for U.S. companies

NEW YORK, June 12 (Reuters) – Walt Disney Co last
week hiked single-day admission prices at its U.S. theme parks
by up to 9.6 percent, the fifth increase since 2009. But other
U.S. companies might want to think twice before following suit.

Just ask Kohl’s Corp.

The department store chain raised prices two years ago only
to see shoppers take their business elsewhere. It has been
struggling to make up lost ground ever since and recently said
it would ramp up advertising to lure customers back.

Jun 10, 2013

Coty IPO set to draw investors despite blemishes

NEW YORK (Reuters) – After 109 years of selling beauty products, Coty Inc is ready for its close-up, blemishes and all.

The maker of Stetson cologne, OPI nail polish and Sally Hansen lip balm, is set to go public Wednesday on the New York Stock Exchange, with shares to trade on Thursday.

Jun 6, 2013

U.S. retailers’ sales rise in May, spending stays moderate

NEW YORK (Reuters) – Major U.S. retail chains, including Costco Wholesale Corp (COST.O: Quote, Profile, Research) and Victoria’s Secret, on Thursday reported sales increases for May that suggested consumer spending continues to improve moderately.

Costco said sales at stores open at least a year, or same-store sales, rose 5 percent last month, coming in slightly below Wall Street forecasts because of lower gasoline prices. Fresh food and tools for home repair were strong categories, Costco said.

Jun 6, 2013

Retailers sales rise steadily, in line with forecasts

NEW YORK (Reuters) – Major retail chains including Costco Wholesale Corp (COST.O: Quote, Profile, Research, Stock Buzz) and Victoria’s Secret on Thursday reported sales increases for May that were generally in line with Wall Street’s expectations, suggesting consumer spending continues to improve moderately.

Costco said sales at stores open at least a year, or same-store sales, rose 5 percent last month, coming in slightly below Wall Street forecasts because of lower gasoline prices. Fresh food and tools for home repair were stand out categories, Costco said.

Jun 6, 2013

U.S. retailers sales rise steadily, in line with forecasts

NEW YORK, June 6 (Reuters) – Major U.S. retail chains
including Costco Wholesale Corp and Victoria’s Secret
on Thursday reported sales increases for May that were generally
in line with Wall Street’s expectations, suggesting consumer
spending continues to improve moderately.

Costco said sales at stores open at least a year, or
same-store sales, rose 5 percent last month, coming in slightly
below Wall Street forecasts because of lower gasoline prices.
Fresh food and tools for home repair were stand out categories,
Costco said.

May 28, 2013

Nike drops partnership with Lance Armstrong-founded charity

May 28 (Reuters) – Nike Inc is dropping its partnership with Livestrong Foundation, the cancer charity founded by disgraced cyclist Lance Armstrong, the latest repercussion from the doping scandal that last year stripped him of his titles.

Nike said on Tuesday it would end production of its Livestrong gear and apparel after the holiday 2013 line, concluding a long-standing licensing agreement for footwear and apparel between the two that helped Livestrong raise a total of $100 million over the course of the partnership.

May 28, 2013

Tiffany’s high-end jewelry sells briskly; lower end lags

By Phil Wahba

(Reuters) – Tiffany & Co’s (TIF.N: Quote, Profile, Research, Stock Buzz) first-quarter sales topped expectations, boosted by improved demand for upscale jewelry especially in the United States and Japan.

Comparable-store sales, which exclude stores opened in the last year, rose 8 percent, a marked improvement over the holiday-season quarter, when results were flat, it said on Tuesday.

May 24, 2013

Abercrombie & Fitch cuts profit forecast as sales crater

May 24 (Reuters) – Abercrombie & Fitch Co on Friday
reported a steeper-than-expected drop in first-quarter
comparable sales, blaming inventory shortages, and slashed its
profit forecast, sending the teen clothing retailer’s shares
down 10 percent.

Sales at stores open at least a year, combined with online
sales, fell 15 percent. The decline was most pronounced at the
Hollister chain, the company’s largest. But Abercrombie lost
business under all its banners, including its direct-to-consumer
operations, which include e-commerce.

    • About Phil

      "Phil Wahba joined Reuters in 2008 and has covered the exchanges, equity capital markets (IPOs), corporate bankruptcies and now covers retailers such as department stores and booksellers."
      Joined Reuters:
      2008
      Languages:
      English, French, Spanish, German and Danish.
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