All North America articles – Page 27
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GalleryStore of the week: Sportswear retailer, Nike AF1 SoHo, New York
First there were sports shoe shops. Then there were running shoe shops. Now there are shops dedicated to a single sports shoe - well, almost. Welcome Nike’s AF1 store, New York.
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News
Discounter Dollar General plans 600 new stores across US
Discounter Dollar General plans to open more than 600 stores across the country this year, bringing its total to 11,000. It also plans to recruit 6,000 more employees.Executive vice-president and chief people officer Bob Ravener said: “We’ve been on an aggressive growth pattern. We’ve seen some tremendous opportunities.”
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Apple loses market value after weak Christmas
Apple lost more than $50bn (£31.8bn) of its market value last week after shares slumped 12% because of weaker-than-expected iPhone sales at Christmas, reinforcing fears that the retailer and technology giant is losing its dominance in smartphones.Apple posted first-quarter group revenue of $54.5bn (£34.66bn), compared with $46.3bn (£29.44bn) in the ...
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Ahold US division appoints executive vice-president of merchandising
Grocer Ahold’s US division has promoted Mark McGowan to executive vice-president of merchandising with immediate effect.McGowan was previously executive vice-president of supply chain.
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GalleryStore gallery: New York’s latest store looks
John Ryan tours the city’s stores to discover what has changed since the last visit to coincide with the National Retail Federation convention in the Big Apple.
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News
Walmart reveals plans to boost US sourcing
Walmart has revealed plans to boost the sourcing of US products by $50bn (£31.5bn) over the next decade.The retailer will buy more US products in categories such as sporting goods, clothing basics, games and paper products, and aims to encourage US production in high-potential areas such as textiles, furniture and ...
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OpinionComment: Retailers can take valuable lessons from restaurateurs
In New York last week, investment bank Financo’s 23rd successive Annual Forum was attended by 275 elite invitees, including the chief executives of some celebrated global brands.
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News
Whole Foods Market chief executive John Mackey faces backlash from customers
Whole Foods Market chief executive John Mackey faced a backlash from customers after he likened President Obama’s health care reforms to fascism.The comment was made during an interview to promote his new book when Mackey was asked about a 2009 article in the Wall Street Journal in which he had ...
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Best Buy reveals slight revenue decrease
Consumer electronics specialist Best Buy has revealed revenues of $12.8bn (£7.97bn) for the nine weeks ending January 5. That compares with $12.9bn (£8.03bn) for the nine weeks ending December 31, 2011.Turnover was down slightly because of a comparable stores sales fall of 1.4%.The performance was seen as encouraging for Best ...
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AnalysisAnalysis: Why is HMV's Canadian business performing strongly?
As HMV’s UK business enters administration after battling market pressures, Retail Week asks how the entertainment retailer’s Canadian business is achieving strong growth.
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NewsNRF: US retailers urged to challenge industry perceptions
Retailers need to challenge the US government’s perspective of the industry, the president of the National Retail Federation Matthew Shay said today.
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News
TJX acquires discount online retailer
Off-price retailer TJX has acquired discount online retailer Sierra Trading Post in a $200m (£124.5m) cash deal.TJX is developing online shopping sites for its own brands and the acquisition adds online operating capabilities and infrastructure.TJX chief executive Carol Meyrowitz said: “We see Sierra’s management team, with its deep internet retailing ...
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Walmart promotes Lev Khasis to chief executive role
Walmart has promoted senior vice-president and chief leverage officer for Walmart International, Lev Khasis, to the position of president and chief executive of new formats for Walmart International.Khasis is a former chairman of the board of Russian grocer Perekrestok and former chief executive of Russia supermarket X5. He joined Walmart ...
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News
7-Eleven purchases 143 sites in Texas
Seven & I-owned 7-Eleven has purchased 143 sites in Texas. The acquisition includes Speedy Stop and Tigermarket convenience stores owned by local operator CL Thomas.The deal also increases 7-Eleven’s fuel wholesale delivery business, because the purchase included petrol distribution to approximately 150 dealer-operated sites.
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NewsGap acquires US luxury fashion retailer Intermix
Gap is set to enter the luxury clothing market after buying New York-based fashion retailer Intermix.
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Costco reveals opening plans for 2013
Warehouse club operator Costco has revealed its opening plans for the remainder of the 2013 financial year.In the first quarter, which ended on November 25, Costco added nine clubs - eight in the US and one in Canada - bringing its total to 617, including 443 in the US.By the ...
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Kroger promotes Lynn Gust to president of Fred Meyer division
Grocer Kroger has promoted Lynn Gust, senior vice-president of operations, to president of Kroger’s Fred Meyer division. Gust started his career with Fred Meyer in 1970 and has served in a variety of leadership roles, including vice-president of the food group and senior vice-president of the store operations group.
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OpinionComment: The US is still a land of opportunity
On the assumption that the world has not ended today, and that Retail Week is still being read beyond Bugarach, attention will carry on being devoted to transatlantic developments.
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News
Drugstore retailer CVS anticipates "solid enterprise growth"
Drugstore retailer CVS anticipates “solid enterprise growth” for the 2013 financial year, with net revenue growth increasing from 0.75% to 2%. Retail pharmacy net sales growth is expected to be in the 1.25% to 2.5% range, with like-for-like sales gains of 0.25% to 1.5%.
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AnalysisAnalysis: Who is Apollo Global Management?
Investment specialist Apollo Global Management acquired 10% of HMV’s debt from Allied Irish Banks last week which some are predicting could signal intention of a takeover. Retail Week takes a look at the company.