North America – Page 20
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AnalysisRecovering US retailers’ plan of attack
The rules of retail in the US have changed, but the impact will be felt worldwide. Joanna Perry reports from New York
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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
Sales at Shoppers Drug Mart increase 7.9%
Sales at pharmacy chain Shoppers Drug Mart increased 7.9% to C$3bn (£1.7bn) in the third quarter, with the retailer continuing to experience strong sales growth in all regions of Canada.Excluding tobacco products, same-store sales climbed 4.8%. Prescription sales rose 9.7% to C$1.5bn (£856.4m) during the quarter, accounting for 49.1% of ...
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JC Penney signs Liz Claiborne licensing deal
US Department store chain JC Penney has signed a licensing agreement with Liz Claiborne to exclusively sell its namesake line of clothing in stores beginning in autumn next year.The 10-year deal includes 30 categories from apparel and accessories, including jewellery, shoes anda home merchandise. After five years, JC Penney will ...
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Family Dollar Store profits up
Family Dollar Stores posted a 25% net income increase to $291.3m (£178.2m) for the financial year ending August 29, up on the $233.1m (£142.6m) reported the year earlier. Operating profit, as a percentage of sales, was 6.1% for the period compared with 5.2% last year. Sales were $7.4bn (£4.5bn), a ...
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Walmex Q3 profits jump 18%
Wal-mart’s Mexican subsidiary Walmex’s third-quarter net profit jumped 18% as its low price promotions helped it weather the economic slump.The retailer said it earned MXN3.86bn (£177m) in the period, compared with MXN3.26bn (£149m) a year earlier. Total revenue for the quarter rose 12% to MXN64.59bn (£2.96bn), while EBITDA grew 17% ...
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AnalysisUS warehouse clubs suffer as discretionary spend dips
US warehouse club operators like Costco will have to brace themselves for more difficult trading in the near term
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GalleryDoing Dallas: How does NorthPark measure up?
The US may do things bigger, but do they do them better? John Ryan visits Dallas and one of the Lone Star state’s top shopping centres to find out how its retail scene measures up
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News
Wal-Mart Canada opens first eco-friendly Supercenter
Wal-Mart Canada has opened its first eco-friendly Supercenter in Waterdown, Ontario.
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AnalysisLowe’s curtails expansion as it braces for tough 2010
DIY retailer Lowe’s has followed in the footsteps of rival Home Depot by scaling back its expansion plans.
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AnalysisUS retail: Battered and bruised, but on its way back
What happens in US retail is frequently mirrored in the UK. Financo chair Gilbert Harrison examines how the US is emerging from its brutal downturn
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News
Staples announces a 9% increase in sales
Office specialist Staples announced a 9% increase in sales to $5.5bn (£3.37bn) for its second quarter. In North America retail sales decreased 5% to $2bn (£1.23bn).Comparable store sales decreased 5% against 2008, reflecting declines in average order size and weakness in durable categories such as business machines and furniture. Internationally, ...
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Borders reports widening losses
Book retailer Borders reported widening losses of $12.7m (£7.8m) for its second quarter, compared with a loss of $10.5m (£6.4m) for the same period last year.Quarterly sales were $616.8m (£378.1m), down 17.7% from a year ago. Comparable store sales fell 17.9% and 10.8% at Borders superstores and Waldenbooks stores respectively.Chief ...
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OpinionThe billion Dollar question
At last, a retail IPO. Dollar General’s flotation is happening in the States not the UK, but success would be a sign that markets may be fully opening again and that stores can win investor backing.
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US fashion retailers struggle in second quarter
A number of clothing retailers have reported negative results in their second quarters, with only Urban Outfitters posting positive sales up against last year.Abercrombie & Fitch made a net loss of $26.7m (£16.3m) against a profit of $77.8m (£47.6m) during the same quarter last year, with total sales plummeting 23% ...
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Blockbuster Q2 revenues fall nearly 22%
Blockbuster has posted lower than expected quarterly revenues and same-store sales, blaming stiff competition for its performance.The DVD rental chain made a net loss for the second quarter that narrowed to $39.7m (£24.3m) from a net loss of $44.7m (£27.3m). Revenue fell nearly 22% to $1.02bn (£623.9m). Chief executive James ...
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Barnes & Noble posts 5% decrease in second-quarter sales
Book retailer Barnes & Noble posted a 5% decrease in second-quarter sales to $1.2bn (£700m). Store sales decreased 5% to $1bn (£600m), with like-for-like sales down 6.9% for the quarter.Sales generated by the retailer’s website climbed to $102m (£62m) for the quarter, a 2% increase compared with the year before.The ...
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NewsWeak consumer confidence continues to hit US retail sales
There was little sign of improvement in consumer confidence in the US as many retailers reported second quarter results yesterday.
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News
Retail Sales fall again in US
Retail sales fell again in July marking the 11th consecutive month of sales declines in the country.According to Retail Metrics, which tracks US comparable store sales, they fell 4.7% in July. Only a handful of retailers reported comparable sales increases, including TK Maxx parent TJX and discount department stores Kohl’s. ...