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Department Store

All articles tagged with #department store

business1 year ago•1 min saved

"Nordstrom Family Forms Special Committee to Pursue Private Takeover"

The Nordstrom family is considering taking the department store private once again and has formed a special committee to evaluate bids, including those from the two Nordstrom brothers and outside parties. The board is focused on enhancing shareholder value and will assess if potential bids are in the company's best interest. This move comes as department stores face declining sales and a shifting retail landscape, with Nordstrom's interest in going private first reported last month.

via CNBC|

#business #department-store #nordstrom

business2 years ago•2 min saved

Investor Group Raises Macy's Buyout Bid to $6.6 Billion

An activist investor group seeking to buy Macy's has raised its bid to $24 per share, valuing the retailer at $6.6 billion, a 33.3% premium to Macy's closing share price. The group disclosed additional details about its financing plans and named additional investors as equity partners. Macy's, which recently announced a strategy to turn around its business, stated that it would "carefully review and evaluate" the latest proposal. The retailer has been facing pressure from the investor group since December and has been trying to stay focused on its own strategy for turning around the business amidst falling sales.

via The New York Times|

#activist-investor #bid #business

business2 years ago•1 min saved

Macy's receives $5.8 billion buyout offer, shares surge

Shares of US department store Macy's have surged on hopes of a $5.8bn buyout deal, as an investor group has offered to pay $21 for each share of the retailer that they do not already own. Macy's, which operates more than 720 stores in the US, has faced years of struggle due to declining sales, increased competition, and store closures. The offer values the firm's shares about 20% more than their previous worth, and reports of the deal have also boosted shares of rivals such as Kohl's and Nordstrom.

via BBC.com|

#business #buyout-deal #department-store

business2 years ago•3 min saved

Workers at Iconic Japanese Department Store Stage Rare Strike in Protest of Sale

Workers at the flagship Seibu department store in Tokyo, Japan, went on strike after talks with management over the planned sale of their company, Sogo & Seibu, broke down. The workers are protesting the sale to U.S. fund Fortress Investment Group and seeking job and business continuity guarantees. The strike, the first at a major Japanese department store in 61 years, comes amid a tight labor market in Japan. Despite the strike, Seven & i plans to announce the sale later on Thursday at a lower price than originally expected.

via Reuters|

#business #department-store #fortress-investment-group

business2 years ago•1 min saved

"Japanese Department Store Faces Uncommon Strike Amid Impending U.S. Buyout"

A union representing department store workers in Japan is prepared to strike if talks on job protections fail, as Sogo & Seibu's parent company, Seven & i Holdings, plans to sell the department store to U.S.-based investment fund Fortress Investment Group.

via Nikkei Asia|

#business #buyout #department-store

crime2 years ago•1 min saved

Fatal Stabbing Rampage Claims Life in Bundang: Police

A woman in her 60s who was declared brain dead after a stabbing rampage at a department store in Bundang, South Korea, has died. The attack, carried out by a 22-year-old suspect named Choi, involved ramming a vehicle into pedestrians and then attacking shoppers with a knife. Fourteen people were wounded, with nine injured in the stabbing attack and five in the car crash. The suspect has been arrested and charged with attempted murder.

via 코리아타임스|

#arrest #crime #department-store

crime2 years ago•0 min saved

Osaka store incident: Woman arrested for spraying substance, 14 hospitalized.

A woman was arrested for allegedly spraying pepper spray in the restroom of an Osaka department store, sending 14 people to the hospital with eye and throat pain. The suspect admitted to the allegations and was identified as Misao Yamagishi, a resident of Osaka's Abeno Ward. The incident occurred on the ninth floor of the Hankyu Department Store in Osaka's Kita Ward.

via The Japan Times|

#arrest #crime #department-store

business2 years ago•1 min saved

Century 21 defies online shopping trend, reopens flagship store in Lower Manhattan.

Century 21, the iconic department store known for its great sales and jam-packed racks, is reopening its flagship store in Lower Manhattan after bankruptcy and pandemic-related closures. The store will now have four floors instead of its original six. The reopening is a rarity for department stores struggling to compete with online storefronts. The family who runs Century 21 also owns the building, which is a relief given soaring rent prices citywide. The store's bankruptcy did away with 3000 jobs, including 2400 union jobs, and the union is demanding former employees get their union-protected jobs back.

via WABC-TV|

#business #century-21 #department-store