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  • 09/12/2017 20:40:15

    Neiman Marcus closing one-third of Last Call stores

    Neiman Marcus Group will close 10 of its off-price Last Call stores, or one-third of the locations, in order to focus on its full-line luxury department stores, the company said in a statement Tuesday. Among the 10 stores closing are ones at Potomac Mills in Virginia, Great Lakes Crossing in Auburn Hills, Mich., and two in Philadelphia. The store associates who are affected, 241 in total according to Neiman Marcus, will be offered severance packages. "This decision is about optimizing our Last Call store portfolio ... and freeing up resources to support new initiatives for our full-line Neiman Marcus and Bergdorf Goodman channels," Last Call Senior Vice President Elizabeth Allison said in a statement. The SPDR S&P Retail ETF is down 7.1% for the year so far while the S&P 500 index is up 11.4% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/12/2017 13:56:25

    Neiman Marcus closing one-third of Last Call stores: WSJ

    Neiman Marcus Group will close 10 of its off-price Last Call stores, or one-third of the locations, in order to focus on its full-line luxury department stores, according to The Wall Street Journal. Among the 10 stores are the ones at Arizona Mills, Philadelphia Premium, and Great Lakes Crossing. The store associates that are affected, 241 total according to the Journal, will be offered severance packages. The SPDR S&P Retail ETF is down 7.1% for the year so far while the S&P 500 index is up 11.4% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/16/2017 15:52:08

    BRIEF-Marcus & Millichap Inc says its financing unit arranged $35.8 million in refinancing for Aurora apartments in ...

    Marcus & Millichap Inc(MMI). * Marcus & Millichap Inc(MMI) says financing unit, has arranged $35.8 million in refinancing for Aurora apartments in Charlotte, North Carolina. * Marcus & Millichap Inc (MMI) - ‍loan was structured with an adjustable interest rate over a seven-year term amortized over 30 years​ Source text for Eikon: Further company coverage:

  • 08/16/2017 15:51:47

    BRIEF-Marcus & Millichap Inc says its financing unit arranged $35.8 million in refinancing for Aurora apartments in charlotte

    * Marcus & Millichap Inc says financing unit, has arranged $35.8 million in refinancing for Aurora apartments in Charlotte, North Carolina

  • 08/15/2017 13:37:49

    Investors are misinterpreting positive benefit of $10 MoviePass on cinemas

    MoviePass, a movie theater subscription service, on Tuesday unveiled plans to lower the cost of its subscription to $10 a month from $30-and-up. Shares of AMC Entertainment Holdings Inc. , which have already been beaten up recently, fell as much as 5.8% during the day. It was followed down by shares of Imax Corp. , which fell 2.4%, Regal Entertainment Group's 1.9% drop, Marcus Corp.'s 1.5% fall, while Cinemark Holdings fell as much as 1%. MoviePass allows members to see a movie a day for just $10 a month. B. Riley analyst Eric Wold wrote in a note to investors that he believed investors were misinterpreting the MoviePass news as a negative for the box office and film exhibitors. "The key thing to keep in mind is that MoviePass cannot do this in a bubble -- they needed the approval of both studios and exhibitors, who would not sign off on anything that was detrimental to their financial outlook," Wold wrote. "Studios and exhibitors are not taking a discount under the MoviePass model. We understand that MoviePass is absorbing the ticket discount and hoping to make up the discount through monetizing the data and the breakage." Wold said this is a positive for the cinema group as well as box office and concession results, though he believes it will be a small benefit. Shares of AMC have declined nearly 61% in the year to date, while Imax shares are down nearly 41%, Regal Entertainment and Marcus Corp shares are both down almost 19% and shares of Cinemark are down 6%. By comparison, the S&P 500 index is up more than 10%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/10/2017 09:15:59

    Cinema stocks continue to suffer as AMC shares fall nearly 5%

    Shares of cinema chain AMC Entertainment Holding Inc. were down as much as 4.8% during intraday trade on Thursday. The stock's move led a selloff in the cinema group, with Regal Entertainment Group , Cinemark Holdings Inc. , Marcus Corp. and Imax Corp. were all down nearly 2%. There was no news to point to for the share moves, but cinema stocks, and AMC in particular, have had a rough go of it recently as poor box office returns have dominated headlines, dragging down quarterly earnings and threats of shrinking theatrical windows and digital disruption continue to loom. Earlier this week, Walt Disney Co. , which has for a long time steered clear of certain streaming shifts, said it plans to launch its own standalone streaming service for its content in 2019 and end its current licensing deal with Netflix Inc. . "The industry is facing several issues, which is causing people to question the cyclical vs. structural issues for the industry," wrote MKM analyst Eric Handler in an email. Also this week AMC said it was selling its 50% ownership stake in Oscar-winning production studio Open Road Films, which it co-owned with Regal Entertainment. The sale was part of the theater chain's plan to monetize some of its assets and cut cost to combat box office volatility. Shares of AMC have declined more than 56% in the year to date, while the S&P 500 index is up nearly 10%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/03/2017 15:56:56

    Feds Arrest Man Credited With Helping To Stop Ransomware Attack

    The Justice Department alleges Marcus Hutchins, who is said to have short-circuited WannaCry's global attack, created another malware program. His supporters say DOJ couldn't be more wrong.

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