Macy’s cut its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted merchandise heavily to clear spring inventory.
The retail giant has unveiled ‘Personal Shopper by Prime Wardrobe', a styling service for Amazon Prime members that will see them offered a personalized selection of fashion pieces from across its womenswear selection.
It started as a simple sales promotion, but Amazon's Prime Day has now morphed into a major phenomenon joined by scores of retailers jockeying with the US colossus for a bigger slice of the e-commerce pie.
Hudson's Bay Executive Chairman Richard Baker's $1.3 billion bid to take the department store operator private hinges on whether a valuator will view the company more as a retailer and less as a real estate owner.
Activist shareholder Jonathan Litt lambasted a C$1.74 billion bid to take Hudson’s Bay private as “woefully inadequate”, saying the chairman-led shareholder group looking to push through a deal could double the offer.