All North America articles – Page 31
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News
Bed Bath & Beyond to expand World Market food and beverage range
Bed Bath & Beyond has announced that it is to expand its World Market food and beverage range to multiple locations. Initially, the retailer tested the programme in just four stores.The concept may vary from store to store, with some locations offering international food and others more healthy items, Bed ...
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Costco looks into European expansion
Costco is looking into opening stores in continental Europe and pursuing a European expansion programme.James P Murphy, international executive vice-president, said: “We are interested in investing in the obvious four: Germany, Italy, France and Spain.”The company is yet to decide which country will be first but will probably open a ...
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AnalysisAnalysis: Fifty years of Walmart
Half a century ago today Sam Walton opened his first Walmart store in Rogers, Arkansas. George MacDonald examines how the company went on to change the global retail landscape.
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Drugstore group Walgreens reports sales decline
Drugstore group Walgreens reported that sales declined 3.4% to $17.8bn (£11.4bn) for the third quarter ended May 31.Net earnings fell by 10.8% to $537m (£345m), impacted by the retailer no longer being part of the Express Scripts pharmacy provider network, as well as costs associated with entering into a strategic ...
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Best Buy to increase staff training levels
Electronics retailer Best Buy plans to increase the levels of training given to its sales associates and Geek Squad technology experts this summer.The retailer hopes to increase sales in its stores by combatting ‘showrooming’ – where customers browse items in stores then purchase online – by increasing the level of ...
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Abercrombie & Fitch identifies 180 stores to close
Clothing retailer Abercrombie & Fitch has identified 180 stores to close over the next few years as it seeks to improve margins in US shops.The retailer will instead emphasise international expansion as part of its growth strategy. It will mainly close eponymous stores as well as Abercrombie children’s shops, though ...
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Amazon to launch Amazon Cloud Player app for iPhone and iPod Touch
Amazon is to launch an Amazon Cloud Player app for the iPhone and iPod Touch, which will allow US customers to stream or download content purchased on Amazon to their mobile devices.Amazon will compete directly with Apple’s iTunes for downloads of music and videos. Previously Amazon’s Cloud Player was only ...
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AnalysisJ Crew: Who is the US fashion brand?
J Crew boss Mickey Drexler has flown over from the US to meet UK landlords as part of his search for store locations in London. What kind of a retailer is J Crew, and where does it fit into the UK retail landscape?
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Walmart teams up with Procter & Gamble in month-long promotion
Walmart has teamed up with Procter & Gamble in a month-long promotion of online and mobile shopping in New York City.A lorry covered with QR codes for several P&G products, including Bounty paper towel, Head & Shoulders shampoo and Lams dog food, will tour the city. New Yorkers can use ...
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News
Walmart’s Pay with Cash scheme accounts for nearly 2% of online orders
Walmart’s Pay with Cash scheme – which allows shoppers to order online and pay in cash in store – accounts for nearly 2% of online orders, according to Joel Anderson, chief executive of Walmart.com. He told a conference in Chicago that 30% of Pay with Cash customers were new to ...
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News
Toys R Us reports net loss of $60m
Toys R Us reported a net loss of $60m (£39m) for the quarter ended April 28 compared with a loss of $67m (£43m) a year ago, despite a 0.9% drop in sales, thanks to margin improvements and cost controls. Net sales totalled $2.6bn (£1.7bn), hit by a decline of 5% ...
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Neiman Marcus posts total revenues increase
Department store group Neiman Marcus posted total revenues of $1.06bn (£670m) for the 13 weeks ended April 28 compared with $983.8m (£621.7m) in the corresponding period in 2011. Like-for-like revenues rose 6.7%. Operating earnings were $146.6m (£92.6m) compared with $123.2m (£77.6m) the previous year, an increase of 19%. Net profit ...
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Rite Aid elects John Standley to chairman position
Pharmaceutical retailer Rite Aid’s board has elected president and chief executive John Standley to the additional position of chairman, with effect from June 21. Standley will succeed Mary Sammons, who has served as chairman since June 2007 and whose term of service in the role concludes at the June annual ...
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GNC teams up with US cable TV network to launch online TV series
Nutritional products retailer GNC has teamed up with US cable TV network Discovery Fit & Health to launch Transformation Diaries, an online TV series following four women working to achieve their personal ‘live well’ goals. In addition to their personalised webisodes, Transformation Diaries will chronicle each woman’s journey through first-person ...
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Seven & I plans new 7-Eleven stores in the US and Canada
Convenience store operator Seven & I plans to add 630 new 7-Eleven stores in the US and Canada by the end of the year. The retailer has built and acquired a total of 600 stores in the US and Canada in 2011 and 56% of its US growth has been ...
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AnalysisCostco’s caution pays off in ‘fragile’ environment
US-based Costco’s third-quarter earnings registered slightly above its expectations.
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Walmart plans small stores roll-out
Walmart plans a roll-out of its smallest format stores. US chief executive Bill Simon told an investor conference that its 12,000 to 15,000 sq ft Walmart Express stores, in locations including Chicago and North Carolina, are performing ahead of expectations. Walmart has 10 of the stores, which include grocery and ...
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NewsLK Bennett secures funding for US expansion
LK Bennett has raised £16m of new funding to accelerate expansion in the US.
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News
Target reveals net earnings increase
Mass merchandiser Target revealed that net earnings for the first quarter of 2012 rose 11.5% to $697m (£441.5m) year on year. Sales increased 6.1% from $15.6bn (£9.88bn) to $16.5bn (£10.45bn) due to a 5.3% rise in like-for-like sales and the contribution from new stores. EBIT was $1.12bn (£709.4m), an uplift ...
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JC Penney records drop in sales
Department store operator JC Penney recorded a larger-than-expected drop in sales for the first quarter.The retailer, which aims to establish itself as an affordable fashion-orientated business by moving away from promotions and couponing to low prices on most items, also surprised investors by ending its dividend to help fund a ...