Terry J. Lundgren, the chief executive of Macy's, strode through the women's shoe department of the company's flagship store in Manhattan's Herald Square, determined to find a bargain. With the lean build of an athlete and the immaculately coifed gray hair of a television anchor, Mr. Lundgren cased the floor and dashed over to a display table of classic shoes, aimed at women in office jobs. "Look at this great-looking boot for $69!" he exclaimed, holding out an unadorned black boot with a low heel.
Could this be Amazon.com's Miracle on 34th Street? The online retail giant will take on Macy's and other Herald Square retailers with a physical store of its own for the holidays in New York, according to a Wall Street Journal report citing people familiar with the plans. The Manhattan location would function as a "mini-warehouse" for same-day delivery in New York, product returns and pickups of online orders, according to the report.
New York City's iconic Duane Reade drugstore nameplate looks like it's getting downgraded. At a new store on Seventh Avenue just north of 34th Street, the sign in front reads, "Duane Reade by Walgreens." It's the first time the brand has been forced to share billing with its corporate parent. Walgreen Co. bought the 54-year-old Duane Reade for $1.08 billion in 2010.
DSW Inc., which opened a Manahattan store earlier this year, is buying back $100 million of its stock. DSW Inc. DSW Inc. Latest from The Business Journals Countdown: Public company stock performanceEastpoint Mall sells at auction for reduced MCentral Ohio earnings reports for the week Follow this company will buy back $100 million of its stock during the next year. The Columbus-based company said Monday it would use cash on hand to fund the share repurchase program. DSW (NYSE:DSW) stock closed at $58.80 a share on Friday. “Our business continues
Tokyo -- Japan’s Fast Retailing Co., parent of Uniqlo, reported Thursday that its net profit for the Sept.-Feb. period surged 38.7% to $705 million as an usually cold weather bolstered sales at Japan stores. Same-store sales in the period rose 2.3%. The company lifted its full-year profit forecast to $1.7 billion from a previously announced $1.6 billion for the fiscal year ending in August, surpassing analysts’ projections. Revenues at Uniqlo overseas locations surged 45% in the first half, thanks to strong sales growth in China and Hong Kong, and 53 more outlets overseas than the previous year. Fast Retailing
I discovered the Japanese fashion chain Uniqlo from walking by the retailer's store on 34th Street in New York City. The windows got my attention because they reminded me of what Benetton stores used to be — colorful and fun — and all mannequins were wearing Moon Boots (it was winter).