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a department store

With more shopping shifting to mobile devices, is the in-store shopping experience under threat?

Black Friday brick and mortar sales showing signs of waning amid more shoppers using tablets and smartphones, but Macy's Chairman and CEO Terry Lundgren has a different take. Like the rumored demise of Mark Twain, Lundgren thinks the perceived death of the department store "is a statement that's been grossly exaggerated."

In an interview with CNBC's on the Money," Lundgren pointed to the moment when Macy's opened for business on Thanksgiving night at the retailers' midtown Manhattan flagship store.

Matahari Department Store appoints new CEO

Indonesia’s largest retailer of apparel, beauty and home products PT Matahari Department Store has appointed Richard Gibson, the current chief financial officer (CFO), as the company’s new Chief Executive Officer (CEO) replacing Michael Remsen.

The Board of Commissioner’s Nomination and Remuneration Committee selected him for the new position after identifying and evaluating a number of internal and external candidates over the past several months.

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