department stores

Kohl’s called activist investor Macellum’s board nominees an “unqualified slate.”

Kohl’s shares jumped Wednesday after reports said Hudson’s Bay and Sycamore Partners were preparing takeover bids for the retailer.

It’s looking to better compete against retail rivals — from its department store competitors to boutique clothing shops to online-only fashion players.

“We’re seeing oil prices escalate, which will only elevate the expenses around essential goods,” said Macy’s CFO Adrian Mitchell.

Nordstrom shares are soaring after the department store chain offered up an upbeat outlook for the coming year, forecasting profits and revenue growth.

Nordstrom reported better-than-expected profits and sales for the holiday quarter, prompting the retailer to offer an optimistic outlook for the coming year.

CEO Michelle Gass said Kohl’s achieved an operating margin of 8.6% two years ahead of schedule.

Macy’s said it will forge ahead as one retailer, despite pressure from activist Jana Partners to split into two entities.

The department store chain is rejecting calls from activist firm Jana Partners for it to split its e-commerce operations from its stores.

Some small-business owners tell CNBC a rise in theft is devastating to their business, especially now, with many still recovering from a global pandemic.

Activist group Macellum has amplified the pressure on Kohl’s as it seeks to take control of the retailer’s board and nominates 10 directors.

Activist hedge fund Macellum Advisors has been asking Kohl’s to consider selling itself and now it wants at least one seat on the retailer’s board.

Kohl’s shares are soaring as the department store chain is fielding takeover offers from at least two suitors.

Ralph Lauren CEO Patrice Louvet said participating in the virtual world extends the brand’s reach and creates new money-making opportunities.

The National Retail Federation said it will take extra precautions, including handing out N95 masks and at-home Covid tests.

“We’re coming with a momentum of the holiday season into the new year and trends continue to look relatively positive,” Mastercard CEO Michael Miebach said.

Online prices increased 3.1% in December compared with the prior year and rose 0.8% month over month, according to Adobe Analytics.

Retailers have yet to report their holiday results, but some offered analysts and investors a preview during the ICR conference this week.

Macy’s has released a list of the handful of department store locations that it plans to close this year.

National Retail Federation’s chief economist, Jack Kleinhenz, said the latest Covid wave is unlikely to prompt an economic slowdown or a shutdown of businesses.