Former Arcandor CEO Thomas Middelhoff, in an interview in Germany's mass circulation Bild am Sonntag, denied any wrongdoing in the context of the retailer's insolvency earlier this month and blamed the financial crisis.
The insolvency administrator of German retailer Arcandor has reached an agreement with banks to secure for now the future of Arcandor's stricken mail-order business Quelle.
The insolvency administrator of bankrupt German department store chain Woolworth plans to close more than half of Woolworth's stores within the next couple of months.
German prosecutors have opened a probe into possible breach of trust by former Arcandor Chief Executive Thomas Middelhoff.
Canada's Hart Stores Inc, an operator of mid-sized department stores, said it has suspended regular dividend to use the cash flow from operations to fund its growth plan.
An auction for assets of bankrupt retailer Filene's Basement will reopen on 12 June, according to a court notice filed on Wednesday 9 June, possibly derailing a sale to Men's Wearhouse.
German retailer Metro on Wednesday 10 June denied a press report it was thinking about selling to an Italian investor the combined department store group it hopes to create with insolvent Arcandor's Karstadt chain.
U.S.-based private equity firm TPG is leading the race to buy a less than 15 percent holding in Pantaloon Retail (India) Ltd.
The German government is expected to decide on Monday 8 June whether to let stricken German retailer Arcandor live or falter; Arcandor shares were indicated 18.6 percent lower.
The "Buy American" plan in US economic stimulus legislation is drawing increasing fire from US trading partners and also has led to confusion as government agencies try to implement the strategy.
Department-store operator Stage Stores Inc posted a narrower-than-expected quarterly loss, helped by lower expenses, and raised the lower end of its earnings forecast for the full year.
Discount retailer Stein Mart Inc posted a higher-than-expected quarterly profit, helped by tight control of costs and inventory, sending its shares up 30 percent in trading before the bell.
For the first time the US First Lady has made Maxim magazine's annual top 100 list of "hottest women in the world," with Michelle Obama making the grade at number 93.
Sales by chain-stores in the USA have increased, in the week ending the 9th of May, reversing for the first time the decline which started in December, indicated the International Council of Shopping Centres.
Sales at top South Korean department stores rose again in April, adding to a batch of domestic data spurring hopes of an early recovery for Asia's fourth-largest economy.
