All North America articles – Page 32
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News
Best Buy chief marketing officer resigns
Consumer electronics specialist Best Buy has disclosed that chief marketing officer Barry Judge has resigned. Judge held the position since 2008 and is “leaving the company to explore the next chapter in his career”, Best Buy spokesman Greg Hitt said.The retailer declined to say who will replace Judge, stating that ...
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AnalysisTarget’s Kindle decision reflects Amazon threat
It emerged last week that US-based retailer Target is to stop selling Amazon’s Kindle e-readers and tablet PCs in recognition of the growing competition from the ecommerce retailer.
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First-quarter sales increase for Publix
Grocer Publix’s first-quarter sales rose 4.2% to $7.1bn (£4.4bn), up from last year’s $6.8bn (£4.2bn). Like-for-like sales increased 3.3% while net earnings climbed 2.8% to $409.4m (£253m) compared with $398.2m (£246.2m) in the same period in 2011.Publix currently operates 1,051 stores in Florida, Georgia, South Carolina, Alabama and Tennessee.
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NewsFresh & Easy chief operating officer joins Tesco Turkey
Fresh & Easy chief operating officer Jeff Adams has changed roles and is now leading Tesco’s Turkish business.
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Safeway reports net income increase
Grocer Safeway reported net income for the first quarter ended March 24 increase to $81.6m (£50.2m) compared with $25.1m (£15.4m) in the same period last year.Total sales rose 2.4% to $10bn (£6.1bn), while like-for-like sales excluding fuel remained flat.Chairman and chief executive Steve Burd said: “Strong cost controls helped us ...
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Amazon reports strong sales results
Amazon reported better than expected results for the three months ended March 31. Sales rocketed 34% to $13.18bn (£8.1bn), driven by strong sales of Kindle products and digital media. Net income declined 35% to $130m (£80m) compared with $201m (£123m) in the same period last year as it invested in ...
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News
Target remodels 90 stores to include fresh food
Target has begun remodelling 90 stores across the US and aims to complete the programmed by the end of June.The remodels are the second of three phases this year, which include the addition of fresh food to its general merchandise stores.Almost 1,000 Target stores offer an expanded food layout at ...
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AnalysisWalmart launches ‘pay with cash’ online option
Walmart is to launch a ‘pay with cash’ option for online shoppers.
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Apple posts quarterly revenue increase
Apple posted quarterly revenues of $39.2bn (£24.1bn) for the second quarter ended March 31, up from $24.7bn (£15.2bn) last year. Net profit for the period was $11.6bn (£7.1bn), almost double last year’s income of $6bn (£3.7bn). International sales accounted for 64% of revenue during the quarter. $4.4bn (£2.7bn) in revenue ...
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News
Target's Canadian plans under government review
General merchandise retailer Target’s plan to enter Canada is being reviewed by the government to decide if books and other cultural ranges have enough Canadian content.Target spokeswoman Lisa Gibson said that this analysis will concentrate on books, DVDs, music and magazines as the government is committed to making sure investments ...
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News
Seven & I Holdings posts 20% profit for year
Convenience store operator Seven & I Holdings has posted a 20% rise in operating profit to ¥292.1bn (£2.41bn) for the full year ended February 29, 2012. Net profit increased 16% to ¥129.8bn (£1.07bn), however net sales fell 11.4% to ¥4.01 trillion (£33.03bn) mainly due to a change in accounting methods ...
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NewsPotential Tesco Fresh & Easy exit branded 'corporate vandalism'
Tesco exiting the US would represent “corporate vandalism”, the City has said.
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AnalysisBest Buy rethinks big-box strategy as it records a loss
On March 29, US-based electronics specialist Best Buy reported staggeringly poor profits for its 2011 financial year.
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News
Food Lion to launch new brand strategy
Delhaize Group-owned Food Lion is to launch a new brand strategy in 268 stores throughout Virginia, West Virginia and North Carolina. The new approach includes lower prices on 6,000 items in stores while continuing to offer affordable private-label products.Food Lion expects to roll out the strategy to between 600 and ...
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AnalysisNew York: The big appeal
New York’s ever-changing retail landscape comes up trumps with global flagships and digitally connected cafes. John Ryan reports.
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Decrease in net sales for computer games retailer GameStop
Computer games retailer GameStop’s net sales fell 3% to $3.58bn (£2.25bn) for the fourth quarter ended January 28. Net income dropped to $174.7m (£109.6m) from $237.8m (£149.2m) a year earlier due to significant charges and lower sales. Like-for-like sales fell 3.6%. The retailer said it expected its 2012 results to ...
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News
Drugstore operator CVS plans 25 Beauty 360 store closures
Drugstore operator CVS plans to close all 25 stores of its fledgling beauty business Beauty 360 by May 19. The Beauty 360 ecommerce business will also cease operations on the same date.CVS director of public relations Erin Pensa said the company “has made the decision to refocus our efforts on ...
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Zara launches global concept store in New York
Inditex-owned clothing retailer Zara has launched a global concept store in New York with revamped architecture and a new interior design scheme.The store, at Fifth Avenue and 52nd Street, is the retailer’s largest in the US, comprising more than 32,300 sq ft spread over three floors.The store design emphasises simplicity ...
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Grocer A&P completes financial restructuring
Grocer A&P has completed its financial restructuring and emerged from bankruptcy protection as a private company. It has obtained $490m (£308.3m) in financing from Yucaipa Cos – an investment vehicle for Burkle – Goldman Sachs Asset Management and Mount Kellett Capital Management an investor in distressed companies.According to the grocer, ...
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News
Lowe’s uses Vitrue to link Pinterest and Facebook pages
Lowe’s has linked its Pinterest presence to its Facebook page through a new tool from social marketing firm Vitrue, it has been reported.A custom Pinterest tab on the Lowe’s Facebook page automatically pulls content and activity from its Pinterest site.Fans can see the home improvement chain’s various Pinterest boards, become ...