All USA articles – Page 27
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News
Blockbuster received bid for £179.9m as it puts itself up for auction
Troubled entertainment retailer Blockbuster has put itself up for auction and has received a bid from a consortium for $290m (£179.9m). The US chain has reportedly agreed to sell itself to Cobalt Video Holdco in a deal that includes its UK operations. Blockbuster chairman and chief executive Jim Keyes said: ...
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Borders files for bankruptcy protection
Borders has filed for bankruptcy protection, sunk by crushing debt and sluggishness in adapting to a rapidly changing industry.The 40-year-old company plans to close about 200 of its 642 stores over the next few weeks. All of the stores closed will be superstores, a Borders spokeswoman said. The company also ...
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Build-A-Bear revenue up 1.4% to £247m
Toy retailer Build-A-Bear Workshop reported total revenues increased by 1.4% to $401.5m (£247m) in its 2010 fiscal year. Excluding the impact of foreign exchange, net retail sales increased 0.1%.Consolidated like-for-like sales declined 2%, which included a 1.2% decrease in North America and a 5.5% decrease in Europe.Net income for the ...
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JC Penney to close underperforming stores
Mid-market department store retailer JC Penney has outlined plans to close underperforming stores, wind down its catalogue and outlet operations and consolidate its call centres.At the same time, the retailer announced that investor William Ackman will sit on the chain’s board. Ackman’s Pershing Square Capital Management along with Vornado have ...
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Blockbuster faces eviction from dozens of US stores due to unpaid rent
Blockbuster reportedly faces eviction from dozens of US stores where it has not paid rent, adding to the bankrupt company’s troubles. According to local press, four landlords have asked a bankruptcy judge to order immediate rental payment for 38 of the company’s stores.
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Whole Foods Market Q1 sales up 14% to £1.87bn
Whole Foods Market has reported sales for the first quarter ended January 16 increased 14% to $3bn (£1.87bn), with like-for-likes soaring 9.1%. Operating income, meanwhile, rose 44.1% to $147.6m (£92.1m) during the quarter.The retailer also announced plans to open wellness clubs at five of its US stores. The clubs, which ...
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Walgreens to run campaign promoting private-label
Drugstore operator Walgreens is to run its first national advertising campaign promoting its private-label health and wellness products. The campaign will highlight the quality of its private labels and the customer service provided by its pharmacists, rather than just their affordability. The digital portion of the campaign is the result ...
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Kroger ramps up promotions through MyWebGrocer
Kroger has started to provide shoppers at all its banners with information about promotions and products through MyWebGrocer. With the online tool, consumers can also personalise shopping lists and receive recipes through a computer or smartphone. Tengelmann A&P, Winn-Dixie, Delhaize Food Lion and Shop Rite are also participating in MyWebGrocer.
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Borders intends to stay in business
Entertainment retailer Borders said it fully intended to stay in business, despite widespread reports that it may be preparing a Chapter 11 bankruptcy filing.Bloomberg News had reported that the company could file for bankruptcy protection within days and would seek to close at least 150 stores. Borders said that it ...
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JC Penney to launch The Foundry Big & Tall Supply Co
JC Penney has announced plans to launch a new retail concept catering to the big and tall male customer.The chain will trade under the banner The Foundry Big & Tall Supply Co and will carry branded apparel and accessories as well as its private-label and exclusive merchandise. The stores will ...
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Gap names Art Peck as new president of Gap North America
Gap has named Art Peck its new president of Gap North America, effective immediately. Peck previously handled corporate strategy and oversaw the outlet division.He succeeds Marka Hansen, who has led the Gap brand in North America since 2007. Meanwhile, Pam Wallack, the current president of Gap Adult North America, will ...
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CVS revenues up 3.1% to £9.6bn
Pharmacy retailer CVS has reported revenues in its retail drugstore segment up by 3.1% to $14.9bn (£9.6bn) in its fourth quarter to December 31, as like-for-like sales rose 1.7%.The retailer’s pharmacy benefit management arm, however, experienced a revenue decline of 9.7% due to the termination of several large client contracts.President ...
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Blockbuster to add 3,000 Express DVD rental kiosks this year
Blockbuster is planning to add 3,000 Express DVD rental kiosks during 2011, despite closing stores and filing for Chapter 11 bankruptcy protection.Blockbuster Express owner NCR estimates that it will generate about $200m (£130m) in revenue in a single year from its kiosks and says it plans to reposition kiosks that ...
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RadioShack chief executive to retire in May
The chairman and chief executive of electronics retailer RadioShack, Julian Day, will retire in May after nearly five years.He will be succeeded as chief executive by current chief financial officer Jim Gooch, who was immediately promoted to president.Day led an overhaul of RadioShack operations that helped streamline the business while ...
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Cumberland Farms opens its first drive-thru store
Cumberland Farms has opened its first drive-thru store, at an existing convenience store in Kingston, Boston.The convenience store retailer said a “wide variety” of the 3,000 items sold at the store were available at the drive-thru window, including groceries and staple goods.The store has been opened on a pilot basis ...
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Netflix Q4 revenue rises 34% to £386m
Netflix has reported a 52% rise in net income to $47.1m (£31m) in the fourth quarter ended December 31, with revenues rocketing 34% to $596m (£386m).During the period the company had a gain of 3 million subscribers, up to a total of 20 million end users. This represents a 63% ...
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NewsFresh & Easy hunts small stores to extend its reach
Fresh & Easy, Tesco’s US business, is considering smaller stores as it seeks out new locations in northern California.
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Blockbuster gets deadline extension for bankruptcy reorganisation plan
Blockbuster has received an additional three weeks from its lenders to file a bankruptcy reorganisation plan. The company received an extension to February 4 from January 14 to file a plan, a regulatory filing shows. It is common for debtors to seek such extensions and US bankruptcy courts routinely grant ...
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GalleryBig Eataly
Slow food beacon Eataly’s latest store is in Manhattan and is twice the size of the Turin original. John Ryan visits
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Gap's Athleta opens store in San Francisco
Gap’s Athleta brand, which was until now only available through Gap’s online platform, has opened its first retail location in San Francisco.The store offers Athleta’s collection of women’s active lifestyle apparel for yoga, running, swimming, the gym, hiking and skiing alongside other sportswear. Custom-made mannequins moulded from the body of ...