All North America articles – Page 28
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News
Grocer Safeway posts net income decrease
Grocer Safeway posted net income from continuing operations for the third quarter ended September 8 of $108m (£67.2m) compared with $130.3m (£81m) in the same period last year.Total sales and other revenue, including US and Canadian operations, were flat at $10bn (£6.22bn).Higher fuel revenues helped counter lower sales due to ...
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Costco reports net income increase
Costco reported that net income for the fourth quarter ended September 2 increased by 27% to $609m (£378.7m).Net sales climbed 14% to $31.52bn (£19.6bn). Like-for-like sales were up 6% in the US and 2% in Costco’s international division.
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Walmart discloses capital plan for 2014
Walmart has disclosed that its capital plan for fiscal 2014 (calendar year 2013) will range from $12bn (£7.5bn) to $13bn (£8.1bn), slightly lower than the $12.6bn (£7.8bn) to $13.5bn (£8.4bn) expected to have been invested in the current fiscal year.The capital expenditure budget includes new store growth and supply chain ...
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Kohl’s strikes partnership with designer Derek Lam
Kohl’s has struck a partnership with designer Derek Lam, who will be the second contributor to the retailer’s DesigNation limited edition collection.Kohl’s chairman, president and chief executive officer Kevin Mansell said: “On the heels of announcing our first DesigNation collection that will launch on November 7 with Narciso Rodriguez, and ...
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RadioShack chief executive James Gooch steps down
RadioShack has announced that chief executive James Gooch has stepped down with immediate effect. The board is looking for an executive search firm to find his successor.It has not ruled out hiring internally.Executive vice-president and chief financial officer Dorvin Lively will be interim chief executive.
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Staples unveils plans to accelerate growth
Staples has unveiled plans to serve customers better and accelerate growth. The retailer will expand beyond office supplies and improve its multichannel provision by merging its US Retail and Staples.com divisions.Staples plans to close 30 stores and downsize 30, a reduction in square footage in North America of 15%, by ...
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OpinionComment: Does Hong Kong still appeal to retailers?
For European retail, consumer and luxury goods companies looking to launch IPOs, the Hong Kong Stock Exchange (HKEx) once had tremendous appeal.
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Amazon to recommence selling wine
Amazon intends to start selling wine again after it abandoned previous plans to enter the wine market three years ago.Meanwhile, Amazon’s Quidsi subsidiary in the US has unveiled an ecommerce site offering natural, organic and sustainably made products. Vine.com sells products ranging from skincare to ambient grocery, furnishings and electronics. ...
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Best Buy develops location-based shopping app
Electronics retailer Best Buy has developed a location-based shopping app with eBay-owned RedLaser.Best Buy is the first retailer to ‘geo-fence’ its locations, enabling shoppers to see special offers, browse open-stock items and view products relevant to them when they walk into a store.Online Best Buy shoppers can also research and ...
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Walgreens to close 76 USA Drug-affiliated stores
Walgreens is to close its 76 USA Drug-affiliated stores by November as part of its acquisition of LaFrance Pharmacy.The closures will be in Tennessee, Mississippi and Arkansas. The programme comes after Walgreens announced the $438m (£269.9m) LaFrance acquisition in July.Walgreens spokesman Jim Graham said: “Our decisions about store closures are ...
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NewsAmerican Greetings boss bids to take company private
American Greetings, owner of Clinton Cards, has received a $580m (£358.2m) bid from a group led by its chief executive to take the company private.
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Walmart launches health food programme
Walmart has launched a health food programme with HumanaVitality, a subsidiary of the Humana healthcare company.The Vitality HealthyFood scheme offers members an incentive to purchase healthier foods by offering a 5% discount on items awarded Walmart’s ‘Great For You’ symbol.The scheme is due to begin on October 15.Shoppers can join ...
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Ritz Camera wins court permission to liquidate business
Specialist retailer Ritz Camera has won court permission to liquidate the business after failing to find a buyer. In 2009 the retailer’s founding family bought it out of bankruptcy but has since failed to turn the retailer around.Earlier this month an auction was held with the aim of either selling ...
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JC Penney to bring back its ‘Free haircuts for kids on Sunday’
Department store group JC Penney is bringing back its ‘Free haircuts for kids on Sunday’ promotion from November 4.The retailer believes that the free haircut scheme, for children from kindergarten age up to 12 years old, will help bring new customers into stores as well as attract existing shoppers.
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AnalysisInternational analysis: Best Buy aims to stabilise as clock ticks on buyout
US consumer electronics specialist Best Buy has reached an agreement to satisfy recent requests from founder Richard Schulze in connection with his offer to take the retailer private.
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Toys R Us introduces Christmas season initiative
Toys R Us has introduced an initiative for the Christmas season to ensure shoppers do not miss out on in-demand toys.The Hot Toy Reservation programme is a complimentary service that enables customers to reserve any toys from the 50 items on the Toys R Us annual ‘hot toy’ list.The system ...
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JC Penney wins legal dispute with rival Macy’s
JC Penney has won a legal dispute with rival retailer Macy’s that prevented the former from selling Martha Stewart-branded products in its stores.A New York state judge ruled that JC Penney can proceed with its plans to sell Martha Stewart goods, denying Macy’s request for an injunction, The Washington Post ...
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News
PPR close to US Redcats sale
PPR is close to selling its profitable US Redcats division and offloading its plus-sized and sportsman’s units, the New York Post reported. Sources said OneStopPlus has been put up for sale and is expected to fetch $400m to $500m (£250m to £313m).Private equity firms including TPG, Leonard Green, Berkshire Partners ...
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AnalysisAnalysis: Exploring international retail expansion
Retailers are increasingly exploring international expansion, but securing the right property portfolio abroad brings unique challenges. Gina Lovett reports on developments in key global markets.
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AnalysisAnalysis: Why American retailers are entering the UK
US retailers are increasingly crossing the pond to set up shop in this country. Alex Lawson examines the opportunities and pitfalls they face.