All North America articles – Page 43
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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.
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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.
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News
Office Depot reports $413m net loss
Stationery giant Office Depot reported a $413m (£252.4m) net loss in its third-quarter results.Sales in the group’s North American retail division were $1.3bn (£794.5m), down 18% compared with the same period last year, due in part to having fewer stores. Comparable store sales in the 1,144 stores in the US ...
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News
Amazon won't sell wine in the US
Amazon has ditched plans to sell wine in the US after hitting various problems.The etailer’s plans to sell wine direct have been hampered from the outset by the complicated regulatory and distribution system in the US.The retailer had hoped to ship US wines to up to 26 states, but its ...
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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 ...
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