All North America articles – Page 42
-
News
Bed Bath & Beyond Q1 sales up 13.5%
Bed Bath & Beyond has posted a net sales rise of 13.5% to $1.92bn (£1.27bn) for the first quarter of 2010. Like-for-like sales increased by about 8.4%. Net earnings rocketed 58% to $138m (£91.6m).During the first quarter the retailer opened two Bed Bath & Beyond stores and two Buybuy Baby ...
-
News
Toys R Us new Christmas tactic
Toys R Us is planning a new tactic to get consumers to spend this Christmas.The toy retailer has begun offering a ‘Christmas Savers Club’ that allows shoppers to save money with the company for holiday gifts.Participants will receive a card similar to a gift card and can contribute funds to ...
-
News
Best Buy revenue 6.9% increase
Best Buy reported a 6.9% increase in revenue to $10.78bn (£7.26bn) for the first quarter ended May 29.
-
News
Kroger’s profits decline
Grocery retailer Kroger’s net profit declined 14.1% to $373.7m (£251.6m) in the first quarter to May 22. Total sales, including fuel, rose 8.7% to $24.8bn (£16.7bn), while sales excluding fuel increased 3.1%. Like-for-like supermarket sales, without fuel, were up 2.4%. Kroger’s chairman and chief executive David Dillon said: “The total ...
-
News
CVS Caremark and Walgreens still working together
Following a very public spat last week, CVS Caremark and Walgreens have reached an agreement whereby Walgreens will continue participating in CVS’s Caremark pharmacy benefit management national retail network for existing, new and renewal plans.The companies are not disclosing the financial terms of the new contract.
-
News
Costco lobbies Washington state for new liquor distribution laws
Costco is to lobby the Washington state government in an effort to shake up liquor distribution laws.
-
News
Sears Q1 revenue flat
Sears Holdings’ total revenue for the first quarter of 2010 has hit $10bn (£6.6bn), flat against 2009.Favourable exchange rate benefits from the Canadian stores and a 1.5% increase in domestic like-for-like sales, were offset by the effect of having 63 fewer Kmart and Sears stores in operation.The domestic like-for-like sales ...
-
News
Gap posts £2.2bn Q1 sales
Gap has posted net sales of $3.33bn (£2.2bn) in its first quarter, a rise of 6% on the same period last year. Like-for-like sales increased 4% and net income rocketed 40% to $302m (£200m).Chairman and chief executive Glenn Murphy said: “Fuelled by our strengthened economic model, we are in a ...
-
News
Ronato focus on growing market share
During 2010 and 2011, home improvement retailer Rona plans to focus primarily on growing its market share in Ontario and Western Canada while reinforcing its strong position in Quebec.The retailer expects to grow its share of the Canadian home improvement market from 17% to 20% by the end of 2011.By ...
-
News
Shoppers Drug Mart sales up 5.7%
Drugstore chain Shoppers Drug Mart’s sales jumped 5.7% to C$2.32bn (£1.5bn) in the first quarter of 2010. The company continues to enjoy sales growth in all regions of the country, led by gains in Quebec and Western Canada. Like-for-like sales increased 3.1% over the quarter.Net earnings increased 8.2% to C$116m ...
-
News
Office Depot sales fall 4.7%
Office Depot saw sales fall 4.7% to $3.1bn (£1.9bn) during the three months to March 27, 2010. Operating profit came in at $56m (£36m), compared with a loss of $60m (£39m) in the first quarter of 2009.Net profit was $29m (£19m), an improvement on the $55m (£36m) loss in the ...
-
News
JC Penney aims for £14.2bn sales by 2014
JC Penney has set new, five-year operational and financial targets to reflect a focus on driving profitable, top-line growth and expanding market share.By the end of its 2014 financial year, the retailer is aiming to increase total sales by more than $5bn (£3.1bn) to reach about $23bn (£14.2 bn).In the ...
-
News
SuperValu sales down 8.9%
Grocery retailer SuperValu posted an 8.9% net sales decline to $40.6bn (£26bn) in the year ended February 27.Same-store sales declined 5.1%. However, net income rocketed to $393m (£252m) compared with a $2.9 bn (£1.6bn) loss last year.SuperValu chief executive and president Craig Herkert said the retailer expects net sales to ...
-
News
Metro posts a 5.2% increase in net income
Grocer Metro Inc posted a 5.2% increase in net income to C$80.3m (£47m) for the second quarter to March 13.Sales climbed 1.1% to C$2.6bn (£1.52bn) while same-store sales declined 0.7% due to deflation in certain product categories.The Canadian retailer launched its Metro & Me loyalty card in the Québec City ...
-
News
Neiman Marcus testing new discount format
Department store operator Neiman Marcus is testing a new discount concept, according to US consumer fashion website Women’s Wear Daily.The 11,000 sq ft store, which opened this month in Dallas, offers designer brands such as Michael Kors, Badgley Mischka and Diane von Furstenberg, with prices ranging between $45 and $300 ...
-
News
Saks to close 53 stores
Premium department store chain Saks plans to close up to 20 of its 53 full-line Saks Fifth Avenue stores over time.The exact number of store closures and their timing has not yet been announced, although the company closed its Portland, Oregon store last month. Instead, Saks is pursuing growth through ...
-
NewsVideo games streaming service OnLive to launch in June
Video games online streaming service OnLive, which is expected to pose a significant threat to traditional games retailing, has revealed it will launch in the US on June 17.
-
NewsWalmart to use supply chain to cut costs in 2010
Walmart, the world’s biggest retailer, estimates that savings of between 5-15%, or $4bn-$12bn, will be possible by globalising its purchasing.
-
News
Toys R Us to open FAO Schwarz boutiques
Toys R Us, which bought the FAO Schwarz brand in May, has announced it is opening FAO Schwarz boutiques in some of its stores and relaunching the iconic toy store’s website. This year, Toys R Us will open 585 boutiques branded with the FAO Schwarz name in its stores beginning ...