J.C. Penney’s CEO Marvin Ellison is leaving the struggling retailer to join home improvement chain Lowe’s Cos Inc, the companies said on Tuesday, sending shares in the U.S. department store chain down 4 percent.
In shock news, Tesco said it is to close its Tesco Direct non-food webstore, which sells clothing, homewares, furniture, electricals, toys, health & beauty and more, after conducting a review of the lossmaking business.
It wasn't a great seven days for John Lewis with the week up to and including May 19 seeing its parent company's sales dipping 0.3% to £202.73 million, but the department store chain’s sales falling by as much as 6.3%.
Shaftesbury, the listed real estate company that owns a large number of properties in London’s West End and Covent Garden, reported its half-year results on Tuesday. And the period to March 31 was good for the company.
Citi Retail and Sears Holdings announced on Tuesday the extension of a 15-year credit card partnership, amounting to a $425 million cash injection for the U.S. retailer, as part of the 'Shop Your Way Mastercard' program.
Australia’s BWX, a marketer of natural skin and hair care products, said on Monday it received an unsolicited takeover offer from two of its senior executives and Bain Capital, valuing the company at A$803 million.