North America – Page 21
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News
Finlay Enterprises has filed for Chapter 11 bankruptcy protection
Jeweller Finlay Enterprises has filed for Chapter 11 bankruptcy protection and plans to auction its business and assets.The retailer operates 182 locations across the country, including the upmarket Bailey Banks & Biddle chain, as well as 77 concessions within Bon-Ton department stores.Meanwhile, the country’s leading specialist jeweller by store count, ...
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NewsUS sales down 4.7% in July
US retail sales fell again in July marking the 11th consecutive month of sales declines in the country.
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News
Staples International president to leave the business
Staples International president Peter Ventress is to leave the business for a chief executive position at an as-yet unnamed UK-based public company.Staples president and chief operating officer Mike Miles will assume Ventress’ responsibilities from September 1, making Miles responsible for all of Staples’ international businesses.Chairman and chief executive Ron Sargent ...
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Book Depository to take on US market
Online retailer The Book Depository has revealed a 50 per cent hike in revenue to £62m in the year to June 30 as it lays out plans to take on the £9bn US book market.
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News
Loblaw to acquire T&T Supermarket
Grocer Loblaw is to acquire Canada’s largest Asian food retailer, T&T Supermarket, comprising 17 stores and four distribution centres.The retailer will add about C$500m (£280.1m) in sales to Loblaw’s business, which is paying C$225m (£126m) for the deal, which is expected to complete before the year end.Like-for-likes at Loblaw rose ...
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News
Best Buy is trials sale of discounted laptops with internet contracts
Electricals giant Best Buy is trialling the sale of discounted laptops with internet contracts, echoing a similar initiative used by joint-venture partner Carphone Warehouse in Europe.Customers at selected stores can buy lower priced laptops if they sign up for two years with a broadband provider. Best Buy chief executive Brian ...
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News
Avon plans job cuts
Mail order and door-to-door beauty specialist Avon is planning to cut 1,200 jobs over the next four years in a major cost-saving drive.The retailer expects to take on a second-quarter charge of about $90m (£54.5m) for its restructuring plan. The overhaul – which includes focusing on streamlining the business and ...
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NewsAmazon takeover to open Zappos up to new markets
E-tailer Zappos has been a household name in the US for some time. The shoe specialist has been on a phenomenal growth path, with sales skyrocketing from $1.6m (£969,820) in 2001 to more than $1bn (£606.1m) last year.
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News
Golden Gate Capital agrees to buy Eddie Bauer Holdings
Private equity firm Golden Gate Capital has agreed to buy Eddie Bauer Holdings for $286m (£172.9m) in cash after an auction for the bankrupt US outdoor and fashion retailer. US-based Golden Gate said that it has agreed to keep open most of Bauer’s 370 stores in the US and Canada.Bauer, ...
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NewsRelief for US retailers as lender avoids collapse
Embattled US retailers faced a potentially crippling hammer blow last week as bank CIT Group teetered on the edge of bankruptcy.
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News
Wal-Mart develops worldwide sustainable product index for suppliers
Wal-Mart is developing a worldwide sustainable product index for suppliers in an attempt to establish a single source of data for evaluating the sustainability of products.The initiative will run in three phases: surveying its more than 100,000 suppliers; helping create a consortium of universities that will collaborate with suppliers, retailers ...
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News
PetSmart considers expanding its services
PetSmart, America’s largest pet store chain, is considering an expansion into in-home services, including dog walking and setting up home aquariums, in an effort to distinguish itself from retailers such as Wal-Mart.PetSmart is in the early stages of developing ways to provide the services, according to the retailer’s new chief ...
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NewsUS denim brand True Religion to open first UK stores
US designer denim brand True Religion is to kick off a European standalone store opening programme with a London opening planned for this year.
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News
Department stores' sales suffer in June
Department stores have revealed lacklustre sales in June.Neiman Marcus reported total sales fell 19.4 per cent during the five-week period. Sales declined to $323m from $401m (£200.7m from £249.1m) the year before. Like-for-like sales at the group, which also includes Bergdorf Goodman, fell 21 per cent.Macy’s posted a 9 per ...
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News
Gap to launch in Thailand next spring
Gap will launch in Thailand next spring after signing a franchise agreement with Armin Systems. Gap also said that comparable store sales in June were down 10 per cent, while total sales fell 9 per cent to Story text.29bn.Store sales for Banana Republic in North America fell the most on ...
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News
Kmart launches money-off initiative for the unemployed
Kmart has launched a money-off initiative for the unemployed in its original home state of Michigan.The general merchandiser’s Smart Assist Savings Scheme entitles the jobless to discounts of 20 per cent on own-label basics such as baby products, groceries and toilet roll.Shoppers registered as unemployed are entitled to discount cards ...
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NewsMysears.com: Sears adopts OpenID platform
US retail giant Sears has adopted the OpenID platform to more closely connect the social networking sites it runs for its Sears and Kmart chains with sites such as Facebook, Twitter and MySpace.
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GalleryStore of the week: Michael Kors, New Bond Street
American fashion brand and retailer Michael Kors has dipped its toe in the distinctly chilly waters of standalone stores with the opening of its first UK shop, in a unit on New Bond Street.
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News
Wal-Mart customers to vote on what products are stocked
Wal-Mart customers will be able to vote on what products the retail giant stocks as part of a new initiative due to launch in the autumn.Shoppers will be able to vote on non-perishables in an effort to empower customers and ensure it stocks the right products. The customers to vote ...
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News
Sobeys reveals net profit hike
Grocer Sobeys has revealed a net profit hike of 21.1 per cent to C$226m (£118m) in the year to May 2.Like-for-like sales increased 5.2 per cent while total sales climbed 7.2 per cent to C$14.76bn (£7.7bn) as a result of new stores and extensions, as well as sales and ...