Deborah Weinswig News
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KKR & Co., the private-equity firm run by Henry Kravis and George Roberts, is weighing an investment in Saks Inc. and may seek a merger with rival Neiman Marcus Group Inc., said people with knowledge of the matter.
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Macy’s Inc., the second-largest U.S. department-store chain, reported fiscal first-quarter profit that beat analysts’ estimates and increased its share buyback program by $1.5 billion. The shares advanced.
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J.C. Penney Co. had its ratings cut at Citigroup Inc. and Oppenheimer & Co., leaving only one analyst bullish on the department-store company, as patience for its turnaround attempt evaporates.
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J.C. Penney Co. is exploring ways to borrow against its real estate holdings to help raise cash, two people with knowledge of the situation said.
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J.C. Penney Co. drew $850 million from its revolving credit facility as new Chief Executive Officer Myron Ullman hunts for cash in the wake of his predecessor’s failed overhaul.
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J.C. Penney Co. will be allowed to sell unbranded items designed by Martha Stewart’s company in certain categories exclusive to Macy’s Inc. after a New York state judge denied Macy’s bid for an order blocking the sale.
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Bill Ackman’s best shot at salvaging his investment in J.C. Penney Co. is to push the department store to go private before it runs out of cash and loses another billion dollars for shareholders.
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Family Dollar Stores Inc., the second-biggest U.S. dollar-store retailer, forecast that profit this year will be less than it previously expected as shoppers curb discretionary spending.
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The payroll tax increases and delayed tax returns that Wal-Mart Stores Inc. executives blamed in internal e-mails for weak February sales may be poised to hurt other retailers as well.
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Costco Wholesale Corp., the largest U.S. warehouse-club chain, posted second-quarter profit that topped analysts’ estimates and said revenue growth was maintained in February.
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