International Business News - SKS http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Shares of department stores dropped Thursday after retailers reported largely worse-then-expected same-store sales for June. Shares of Nordstrom Inc. fell after the luxury department store said its same-store sales, or sales at stores open at least a year, dropped 18.6 percent, due largely to a shift in a sale for women and kids from June into May. http://www.ibtimes.com/articles/20080710/sector-snap-department-stores-fall.htm Thu, 10 Jul 2008 11:57:18 EDT Luxury retailer Saks Inc. said Thursday its same-store sales rose 1.9 percent in June, missing Wall Street expectations. Analysts expected a gain of 6.5 percent, according to a survey by Thomson Financial. http://www.ibtimes.com/articles/20080710/saks-same-store-sales-rise-1-9-percent-in-june.htm Thu, 10 Jul 2008 08:54:03 EDT The Payless ShoeSource chain is getting a new boss. Collective Brands Inc. said Wednesday that it has named retail veteran LuAnn Via as president and chief executive officer for the chain of more than 4,500 shoe stores. http://www.ibtimes.com/articles/20080709/retail-veteran-to-run-payless-chain.htm Wed, 09 Jul 2008 11:43:48 EDT Amid a difficult retail environment, fragrance makers could provide investors with a breath of fresh air. Consumers are cutting back on discretionary spending as home values decline and food and gas prices remain high. But earlier this month, as retailers reported May sales in stores open at least one year, fragrances were strong sellers. Luxury retailer Saks Inc., for example, said fragrance was among its top performing categories. http://www.ibtimes.com/articles/20080623/market-spotlight-fragrance-makers.htm Mon, 23 Jun 2008 14:28:49 EDT A department store saleswoman is accused of passing along more than $1 million in refunds to her most valued customers so she could rack up big sales bonuses for herself. http://www.ibtimes.com/articles/20080619/saks-saleswoman-accused-of-stealing-1-million.htm Thu, 19 Jun 2008 15:52:41 EDT Saks Inc. on Thursday said its executive vice president of stores at its Saks Fifth Avenue chain will retire early next year, setting off a series of promotions at the luxury retailer, effective Monday. http://www.ibtimes.com/articles/20080612/saks-fifth-avenue-executive-to-retire.htm Thu, 12 Jun 2008 17:04:52 EDT High-end retailer Saks Inc. said Thursday that same-store sales tumbled 8.7 percent in May on weak women's apparel performance and the shift of a clearance sale into April. http://www.ibtimes.com/articles/20080605/saks-same-store-sales-drop-8-7-percent-in-may.htm Thu, 05 Jun 2008 09:03:55 EDT Tax rebate checks gave consumers a little extra money in their pockets during May, but most were still spending conservatively, buying necessities such as food and gas and shying away from splurging on clothing or furniture. The result was some better-than-expected sales for the nation's retailers, with lower-priced merchants like discounters and wholesale clubs showing the strongest gains. http://www.ibtimes.com/data/articleimgs/64491-retail-sales.jpg http://www.ibtimes.com/articles/20080605/retailers-report-may-results-above-expectations.htm http://www.ibtimes.com/articles/20080605/retailers-report-may-results-above-expectations.htm Thu, 05 Jun 2008 18:12:39 EDT Credit-ratings agency Fitch Ratings on Tuesday upgraded ratings on luxury retailer Saks Inc. due to improving same-store sales and credit metrics. The company raised its long-term issuer default rating to "B+" from "B." http://www.ibtimes.com/articles/20080603/fitch-upgrades-saks-ratings.htm Tue, 03 Jun 2008 15:31:52 EDT For U.S. retailers, the phrase "challenging environment" has become a shared refrain for one of the toughest quarters in decades. And merchants expect the climate to remain rough for the rest of the year as higher gas and food costs as well as slumping home prices weigh on shoppers. http://www.ibtimes.com/data/articleimgs/50611-earns-saks.jpg http://www.ibtimes.com/articles/20080520/target-saks-expect-weak-sales-climate-for-year.htm http://www.ibtimes.com/articles/20080520/target-saks-expect-weak-sales-climate-for-year.htm Tue, 20 May 2008 16:29:45 EDT Among the stock activity stories for Tuesday, May 20, from AP Financial News: NEW YORK (AP) _ Shares of American Axle & Manufacturing Holdings Inc. continued to fall for a second straight day Tuesday, as its workers began to vote on a tentative agreement that could end a nearly 12-week-old strike at the auto supplier. http://www.ibtimes.com/articles/20080520/movers-roundup-american-axle-raven-industries.htm Tue, 20 May 2008 14:45:20 EDT Stocks that are moving substantially or trading heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE http://www.ibtimes.com/articles/20080520/home-depot-target-among-big-market-movers.htm Tue, 20 May 2008 16:22:52 EDT Shares of Saks Inc. fell on Tuesday, after the luxury retailer said first-quarter profit rose 66 percent but missed analyst expectations amid a difficult retail environment. http://www.ibtimes.com/articles/20080520/saks-shares-falls-as-1q-profit-misses-expectations.htm Tue, 20 May 2008 17:19:50 EDT The Standard & Poor's MidCap 400 fell during midday trading Tuesday, after the Labor Department said wholesale inflation rose last month and crude oil prices breached yet another all-time high on the New York Mercantile Exchange. http://www.ibtimes.com/articles/20080520/s-p-midcap-400-in-focus-ceco-nflx.htm Tue, 20 May 2008 11:58:33 EDT Among the earnings stories for Tuesday, May 20, from AP Financial News: NEW YORK (AP) -- Saks Inc., the operator of luxury chain Saks Fifth Avenue, reported Tuesday a 66 percent increase in first-quarter earnings compared with weak year-ago results. It said increased discounting hurt profit margins as even wealthy customers were feeling squeezed. http://www.ibtimes.com/articles/20080520/earnings-roundup-saks-imperial-tobacco-group.htm Tue, 20 May 2008 14:57:46 EDT Saks Inc., the operator of luxury chain Saks Fifth Avenue, reported Tuesday a 66 percent increase in first-quarter earnings compared with weak year-ago results. It said increased discounting hurt profit margins as even wealthy customers were feeling squeezed, and its shares tumbled more than 6 percent in morning trading. http://www.ibtimes.com/data/articleimgs/50280-earns-saks.jpg http://www.ibtimes.com/articles/20080520/saks-reports-higher-1q-profit.htm http://www.ibtimes.com/articles/20080520/saks-reports-higher-1q-profit.htm Tue, 20 May 2008 10:14:40 EDT Major business events and economic events scheduled for Tuesday: WASHINGTON _ Labor Department reports on producer price index for April, 8:30 a.m. http://www.ibtimes.com/articles/20080519/calendar-of-business-events-for-tuesday.htm Mon, 19 May 2008 13:22:34 EDT Luxury retailer Saks Inc. reports earnings for the fiscal first quarter on Tuesday. The following is a summary of key developments and analyst opinion related to the period. http://www.ibtimes.com/articles/20080519/earnings-preview-saks-seen-posting-solid-1st-qtr.htm Mon, 19 May 2008 12:46:39 EDT Saks Inc.'s April same-store sales rose 23.9 percent on higher demand for women's designer clothes, the retailer said Thursday. The result easily beat estimates on Wall Street, where analysts expected a gain of 1.1 percent, according to Thomson Financial. http://www.ibtimes.com/articles/20080508/saks-april-sales-rise-sharply-on-promotional-activity.htm Thu, 08 May 2008 09:08:55 EDT Shares of broadline retailers closed down on Monday, after Sears Holdings Corp. said Bank of America will not renew its $1 billion long-term credit agreement. http://www.ibtimes.com/articles/20080421/closing-glance-broadline-retailers-shares-decline.htm Mon, 21 Apr 2008 16:30:20 EDT