All USA articles – Page 30
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News
US Borders Q2 like-for-likes down 6.8%
Bookseller Borders has reported results for its second quarter ended July 31, 2010. Second-quarter sales were $526.1m (£340.4m), down 11.5% compared with the same period a year ago, with like-for-like sales slumping 6.8%. Borders.com sales rocketed 56.2% year on year, up to $15.5m (£10m).The company generated a loss from continuing ...
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QVC to open New York pop-up store
TV shopping channel QVC is to open its first ever pop-up store in New York during fashion event Fashion’s Night Out. The store will open at 6pm on September 10 in the Rockefeller Center and will also broadcast live on TV on September 11 and 15.
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Meijer launches product locator app
Meijer has launched a product locator app called Find-it, built upon Point Inside’s mobile destination content platform. Shoppers will be able to see the location of more than 100,000 items in a Meijer store using their smartphones, eliminating the need to ask store employees where to find particular items. The ...
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OpinionNo-design from the US
Travel, it is claimed, broadens the mind. This may be true, but a trip to the US tends to make you think how narrow the retail focus is in all but the biggest cities.
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JC Penney Q2 net income reaches £9m
JC Penney has reported net income of $14m (£9m) for the second quarter of 2010, compared with a loss of $1m (£640,000) for the same period last year. Like-for-like sales were positive for the second consecutive quarter, increasing 0.9% from last year, although total sales were down 0.1% at $3.93bn ...
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Gap to extend international shipping to 65 countries
Gap is offering international shipping to 55 countries, including Australia, Mexico and Brazil, and plans to extend coverage to 65 countries by the end of the year. The move marks the first time customers outside the US can buy items online from Gap, Banana Republic, Old Navy, Athleta and Piperlime.Ecommerce ...
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Nordstrom Q2 earnings rocket 38.6%
Department store chain Nordstrom has reported that its net earnings in the second quarter rocketed 38.6% to $146m (£93.5m). Sales rose 12.7% to $2.42bn (£1.55bn) while like-for-likes increased 8.4%.Multichannel like-for-likes were up 9.9%. Meanwhile, like-for-likes rose 8.2% at full-line stores and 34.1% in Nordstrom’s Direct channel. Nordstrom Rack reported a ...
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A&P to close 25 stores
Tengelmann-owned grocer A&P has announced that it will close 25 stores in five US states in a move to stabilise its ailing business.According to the German company, stores affected include “locations in close proximity to other company stores, those facing real estate and cost issues, and underperforming non-core stores”. This ...
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OfficeMax Q2 sales decline
Stationery specialist OfficeMax reported a 0.3% decline in sales to $1.7bn (£1.1bn) for its second quarter ending June 26. Its retail segment experienced a 0.5% fall in sales to $773m (£484m). Like-for-like sales were down by 0.3%.OfficeMax chairman and chief executive Sam Duncan said: “Based on our performance in the ...
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A&P Q1 net loss increases 88%
US Tengelmann-controlled A&P has announced its first-quarter results for the 16 weeks to June 19. Net loss was $122.64m (£79.5m), up 88% when compared with the net loss of $65.16m (£42.24m) a year earlier.Sales for the period declined to $2.56bn (£1.66bn) from $2.79bn (£1.80bn) last year. Like-for-like sales decreased 7.2%.
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SuperValu launches El Ahorro Save-A-Lot format
Grocery retailer SuperValu has launched a new format called El Ahorro Save-A-Lot.The co-branded discount stores, which target the Hispanic community, are the result of a partnership between SuperValu and Rafael Ortega, a grocery operator with 24 years of experience in serving the Hispanic community in Texas. Six former Save-A-Lot stores ...
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Family Dollar Stores Q3 income up 19%
Family Dollar Stores has reported that net income increased 19% to $104.4m (£69.3m) in the third quarter. Sales for the third quarter of fiscal 2010 were about $1.99bn (£1.32bn), an increase of 8.4%. Like-for-like sales increased 7%. The increase in like-for-like sales was a result of increased customer traffic, as ...
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AnalysisTime for US retailers to pursue top line growth
After a year of cutting costs and lowering inventories, it’s time for retailers to think about growing the top line.
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Merchandising chief John Fleming leaves Walmart
Walmart has revealed another key executive change in the US.Bill Simon, recently appointed as president and chief executive of Walmart US, has announced that chief merchandising officer John Fleming has made a personal decision to leave the company.As a result, Simon has asked Jack Sinclair, executive vice-president and general manager, ...
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Bed Bath & Beyond to spend £150m on IT and stores
Bed Bath & Beyond has announced plans to spend $225m (£150m) on IT, new store openings and a store refresh initiative.The retailer plans to open about 55 to 60 stores across all of its concepts in fiscal 2010.Bed Bath & Beyond co-chairman Leonard Feinstein said: “We continue to work to ...
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Walgreens Q3 sales up 6.1%
Drugstore operator Walgreens has reported $463m (£307m) net earnings for the third quarter ended May 31, down from $522m (£346.5m) in the same period of last year. Third-quarter sales increased 6.1% to a record $17.2bn (£11.41bn). Total sales in comparable stores increased 0.7%, while like-for-like store front-end sales increased 0.1%.Front-end ...
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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 ...
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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.
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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 ...