Macy’s Profit Trails Estimates After Sales Unexpectedly Fall

Herald Square, New York | Source: Shutterstock

NEW YORK, United States — Macy’s Inc., the second-largest U.S. department-store chain, posted fiscal second-quarter profit that trailed analysts’ estimates and cut its forecast for earnings this year after reducing prices to draw shoppers.

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Macy’s, JC Penney and Martha Stewart Wrap up Lawsuit Arguments

Macy's shopping bag | Source: Reuters

NEW YORK, Aug 1 (Reuters) - Macy's Inc told a judge on Thursday that J.C. Penney Co should be barred from selling certain home goods designed by celebrity trendsetter Martha Stewart, and Penney and Martha Stewart Living Omnimedia also delivered closin...

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North American Retailers Set 5-Year Bangladesh Factory Plan

Collapsed building in Bangladesh | Source: Associated Press

WASHINGTON DC, United States — Nearly 20 North American retailers including Wal-Mart Stores Inc and Gap Inc unveiled a 5-year safety plan for Bangladesh garment factories on Wednesday that would include inspecting every factory within a year.

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Retailers Plan Bangladesh Factory Inspections Under Safety Pact

Inside a Bangladeshi garment factory | Source: Reuters

ZURICH, Switzerland — A group of mainly European retailers has finalized a plan to conduct coordinated inspections of factories in Bangladesh in an attempt to prevent a repeat of the Rana Plaza disaster that killed 1,129 people in April.

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Macy’s Jumps After Annual Forecast Exceeds Analysts’ Estimates

NEW YORK, United States -- Macy’s Inc., the second-largest U.S. department-store chain, rose in early trading after forecasting annual profit that surpassed analysts’ estimates amid a surge in online sales. The shares advanced 4.2 percent to $40.15 at 8:37 a.m. in New York, after rising to $40.40. Earnings per share for fiscal 2013 will advance to as much as $3.95, the Cincinnati-based retailer said in a statement today. Analysts projected $3.84, the average of 18 estimates compiled by Bloomberg. Chief Executive Officer Terry Lundgren has focused on tailoring merchandise to suit local tastes and benefited from exclusive Tommy Hilfiger, Sean John and Madonna products. Fourth-quarter revenue climbed 7.2 percent to $9.35 billion while online sales soared 48 percent, Macy’s said today.…

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Year of the Snake, Swatch upbeat, Denim corsets, Non-stop Carine, Chanel at Grand Palais

Beyonce Knowles, Solange and Kim Kardashian at NYFW | Source: Fan Pop

Luxury Labels Are Scaling Up for China’s Year of the Snake (WSJ) “Luxury brands are rolling out a menagerie of merchandise to capitalize on the holiday, which marks Asia’s biggest shopping season. And more Western brands are getting in on the Year of the Snake, pushing snake- and red-themed goods, from Vacheron Constantin’s $150,000 watch with an engraved snake etched onto its face to the serpentine,

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John Fairchild’s legacy, IMG buys TFW, Soft economy, Tod’s profits up, Julie Eilenberger

John Fairchild | Source: Vanity Fair

Fashion’s Most Angry Fella (Vanity Fair) “When John Fairchild, the tyrannical, mischievous editor in chief of Women’s Wear Daily and founder of W magazine, stepped down from his Fairchild Publications throne, in 1997, it was supposed to be a clean break. Fifteen years later, at the age of 85, the onetime terror of the fashion industry is still stirring the pot.” Toronto Fashion Week sold to IMG, Robin Kay steps down

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