All USA articles – Page 37
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News
Directors leave board of US Borders
Embattled American bookseller Borders is undergoing more upheaval, with directors Edna Medford and Michael Weiss leaving the board.Five of the remaining eight directors have also announced they are to leave, although they will wait until the retailer has found replacements before they go.Borders plans to hire a search firm to ...
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Dollar Tree launches transactional website
Single price point retailer Dollar Tree has launched a transactional website, accessible from its Dollartree.com site. The website is aimed at customers who want to buy in large quantities, and allows users to order cases of products with free shipping if they collect their order from one of the retailer’s ...
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NewsFresh & Easy introduces review section to website
Tesco’s US Fresh & Easy operation has introduced a product review section on its website to increase interactivity with its customer base.When shoppers sample a product in stores through the US grocer’s Kitchen Table tasting area, they can then review it online.A Tesco spokesman said: “This launch forms part of ...
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Borders US fears grow as market woes widen losses
Embattled bookseller Borders US has plunged further into the red, prompting some experts in the US to suggest Chapter 11 bankruptcy may be its only chance of survival.The company reported a consolidated loss of $16.2m (£10.9m) in the year to January 31 compared with a consolidated loss of just $400,000 ...
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Macy’s credit rating reduced to junk status
Macy’s had its credit rating reduced to junk status by ratings agency Moody’s.
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OpinionTopshop to New York, Anthropologie to London
Standing on a rainy sidewalk in New York on Friday, it was hard to find much to be enthusiastic about. The mood in the city was resolutely downbeat and the number of buildings with the words “Retail For Rent” plastered across them served as an indication of the malaise that has hit the city hard.
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US corporate governance rules ‘offend’ retail chiefs
Top US retail executives have slammed an increasing corporate governance burden as a ‘lawyers’ charter’.
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Lowe’s to spend $7bn on aggressive growth push
Lowe’s is to invest nearly US$7 billion (£3.81 billion) in the next two years to expand and upgrade its store portfolio to compete harder against market leader Home Depot.
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Ralph Lauren to target preppy kids with Rugby
Polo Ralph Lauren is to take on Abercrombie & Fitch with new fascia Rugby, aimed at preppy teens and college kids.
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Toys R Us sues Amazon
Toys R Us has filed a lawsuit against Amazon .com, alleging breach of the exclusivity arrangement that Toys R Us has to sell merchandise on Amazon’s Web site. Toys R Us struck the deal in 2000.
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Senate hearing threatens the future of RFID in US, fears NRF
US legislators’ concern over Radio Frequency Identification Tracking (RFID) reached another level with a Senatorial hearing in California, which started last week.
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Best Buy sheds Musicland chain to Sun Capital
US retailer Best Buy has offloaded its Musicland chain to private investment firm Sun Capital Partners. Musicland generates sales of US$1.7 billion (£1 billion), but reported operating losses last year of US$72 million (£42.7 million).
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Best Buy to raise customer focus
American electricals giant Best Buy intends to woo US shoppers with a service-centred strategy from next year.
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Best Buy out of tune
US electricals group Best Buy is in talks to sell its Musicland entertainments chain. Best Buy bought Musicland 15 months ago, but the business has been hit by falling CD sales and poor shopping mall performances.
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Best Buy link threatened
Technology giant Microsoft wants to end its MSN Internet marketing alliance with US electronics retailer Best Buy. The group admitted that a termination of the partnership could affect operating results.