All North America articles – Page 29
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News
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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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.
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Peapod launches click-and-collect service
Online grocer Peapod has launched a click-and-collect service in partnership with Ahold’s Stop & Shop chain.Shoppers can order groceries online through Peapod and then go to stores for collection. They must live within 10 miles of the store to use the service and payment is made online. Customers can shop ...
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OpinionComment: A true brand is more than a fascia
Many aspire to be a truly successful brand but very few succeed.
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Net income plunges at Best Buy
Consumer electronics specialist Best Buy’s net income plunged 91% to $12m (£7.6m) for the three months ended August 4.That compares with $150m (£94.8m) in the same period a year earlier. Second-quarter adjusted operating profit fell 52% to $124m (£78.3m), hit by restructuring including store closures and job cuts.Total revenue fell ...
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Bookseller Barnes & Noble narrow net losses
Bookseller Barnes & Noble recorded a 2.5% increase in consolidated revenues to $1.5bn (£948.4m) for its first quarter ended July 28. Net loss narrowed to $41m (£25.9m) as a result of cost savings. Sales at the retailer’s stores rose 2% during the period, or 4.6% on a like-for-like basis, benefiting ...
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NewsRetailers set sights overseas for sales boost
Two thirds of British retailers expect their overseas sales to increase over the next five years and name Germany as the market most likely to provide growth.
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News
Target reports second-quarter sales increase
Target’s second-quarter sales rose 3.5% to $16.5bn (£10.51bn). Like-for-like sales were up 3.1% on top of a 3.9% gain a year ago. Net earnings remained flat at $704m (£448.6m).During the quarter, Target added eight new stores, including its first three CityTarget stores. The retailer’s REDcard loyalty scheme penetration reached 12.8% ...
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AnalysisInternational analysis: Walmart slows expansion in some overseas territories
Last week Walmart reported a strong set of results for its second quarter ended July 31.
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News
Major retailers begin test-selling through eBay
Major retailers Target, Best Buy, Walgreens and Macy’s have begun test-selling through eBay in San Francisco. Shoppers can order products with the new ‘eBay Now’ app, available for Apple devices.Local stores’ inventory data is uploaded to the online marketplace Milo – acquired by eBay in late 2010 – with the ...
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News
Apple authorises US store employees to offer iPhone discounts
Apple has authorised its US store employees to offer discounts on iPhones in an unprecedented move by the retailer.The initiative will allow Apple to match promotions offered by wireless carriers and third-party retailers, according to The Wall Street Journal.Employees may now offer discounts of up to $49 (£31) on the ...
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AnalysisInternational analysis: Best Buy and Target venture signals full merger potential
In what could be seen as a step towards to a potential merger, mass merchant Target has partnered with Best Buy for its consumer electronics expertise.
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News
Sales fall at department store group JCPenney
Department store group JCPenney’s sales fell 22.6% to $3.02bn (£1.92bn) for the second quarter ended July 28. Like-for-like sales were down 21.7%. Online sales were $220m (£140m) in the period, a fall of 32.6%. The retailer said the results included the effects of its exit from its outlet business and ...
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News
Gap posts second-quarter revenue increase
Clothing retailer Gap has posted second-quarter results for the period ended July 28.Revenues increased by 6% to $3.58bn (£2.3bn) from $3.39bn (£2.18bn) in the same period in 2011. The retailer’s second-quarter comparable sales were up 4% compared with a 2% decrease in the second quarter last year.Chairman and chief executive ...
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Richard Schulze in bid to purchase Best Buy
Best Buy founder Richard Schulze is vying to buy the electronics giant in a $9bn (£5.8bn) deal.Schulze, who was ousted as chairman in June, already owns 20% of the retailer and is looking to team up with private equity firms to buy the remainder.Schulze’s financial adviser Credit Suisse said it ...
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News
Lowe’s aims to acquire Canadian competitor
Home improvement retailer Lowe’s aims to acquire Canadian competitor Rona for C$1.8bn (£1.15bn).Rona has already publicly rejected the offer stating that “it is not in the best interest of the company and its stakeholders” and that it would prefer to remain focused on executing its business plan.Rona is implementing its ...
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Amazon introduces instant video app for iPad
Amazon has introduced an instant video app for iPad. It will enable customers to stream or download movies and TV episodes from their Amazon library directly to the device.Amazon previously offered this service for its Kindle Fire tablet, but the latest initiative broadens the service to a wider audience and ...
