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Gap Inc. shares tank as retailer misses earnings expectations, same-sale stores weaker

“Analysts polled by FactSet had expected earnings of 44 cents a share on sales of $3.61 billion for the quarter” writes Claudia Assis for marketwatch.com. GPS, +3.03% fell more than 10% late Thursday after the retailer missed Wall Street’s per-share earnings expectations and its same-store sales grew less than forecast. Source: marketwatch.com Share This:

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Target has Amazon in its sights after quarterly growth

“Target grew both in-store traffic by 3.7 percent, which the company said is the strongest in over 10 years, and online traffic sales by 28 percent in the period” writes Chris O’meara for washingtonexaminer.com. Target recently began offering free two-day shipping, which Cornell said is possible because the company leverages its physical stores as shipping points.The retailer continues to expand its delivery options and further link its online and in-store services to compete with Amazon.Despite the growth, investors were concerned about the outlook for the retailer as it spends significantly…

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M&S bolsters its board with two new directors ahead of crunch results 

“Marks & Spencer has bolstered its board with two new non-executive directors ahead of crunch results this week in which it is expected to reveal plans to close more stores” writes Jack Torrance for telegraph.co.uk. Katie Bickerstaffe, formerly UK and Ireland boss of electricals seller Dixons Carphone, and Pip McCrostie, who previously led accounting giant EY’s corporate finance business, will join the retailer as it battles to reverse a long-term decline in clothes sales. Source: telegraph.co.uk Share This:

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Macy’s blows past expectations and raises guidance

“Macy’s reported first-quarter results that exceeded Wall Street estimates and raised its full year guidance, sending shares up as much as 12% ahead of Wednesday’s opening bell” writes Jonathan Garber for businessinsider.com. Looking ahead, Macy’s now sees adjusted earnings per diluted share of $3.75 to $3.95 in fiscal 2018, up from its previous estimate of $3.55 to $3.75. Source: businessinsider.com Share This:

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House of Fraser shareholder Sports Direct sues over business plan

“LONDON (Reuters) – A minority shareholder of Britain’s House of Fraser, Sports Direct , is suing the department store chain to gain access to its business plan, after House of Fraser announced a major restructuring this week” writes Midwest Communications Inc for 95kqds.com. C.banner, a major retailer of mid-range to premium footwear brands in China, bought famous London toy shop Hamleys in 2015. Source: 95kqds.com Share This:

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House of Fraser in talks with pension authorities over stake sale

“High street struggler House of Fraser is in talks with pension authorities over its retirement fund after revealing a major ownership shake-up and restructuring drive” writes Ben Woods for telegraph.co.uk. The Daily Telegraph understands the troubled retailer is also in talks with the Pension Protection Fund, the safety net for retirement funds when companies collapse.Companies undergoing a change of ownership are encouraged to seek clearance for the deal from the TPR and explain how they will protect the pension fund going forward.The Pensions Regulator confirmed discussions with the company were…

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The surprising story behind Trader Joe’s 19 cent bananas

“Trader Joe’s bananas, priced at 19 cents each, are famous for being one of the best deals at the retailer and have even been the topic of conversation on Reddit threads” writes unknown author for cnbc.com. Bane remembers being in a Trader Joe’s store when a conversation with a customer sparked the change in the way the produce is sold.In a recent episode of the grocery chain’s new five-installment podcast, “Inside Trader Joe’s,” the company’s chairman and CEO, Dan Bane, recalls that they used to sell bananas by the pound,…

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