All North America articles – Page 38
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News
Neiman Marcus announces impressive preliminary results
Upmarket department store chain Neiman Marcus has announced impressive preliminary results for its fourth quarter and full year for 2011. Net sales at the retailer rocketed 11.3% in the fourth quarter to $920m (£564.4m). In the same period, Neiman Marcus Direct revenues were 11% above last year.Like-for-like sales for the ...
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AnalysisWilliams-Sonoma
The US homewares group has a strong reputation and is eyeing the UK market. But where would it sit in this struggling sector and what is its point of difference?
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News
Borders Group US lives on
Borders Group US is preparing for a sale that could see its brand live on despite liquidators clearing books from its shelves and shutting its stores. Executives plan to auction off the company’s intellectual property, including the Borders.com website, on September 14. The move follows other now-defunct retailers such as ...
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News
Borders Group to liquidate the chain
Borders Group is to liquidate the chain after failing to receive any offers to save it. The book chain said liquidation of its remaining 399 shops could start as soon as this week, and it is expected to go out of business for good by the end of September.Borders filed ...
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News
Sales increase for 99¢ Only Stores’
99¢ Only Stores’ total sales increased 6.3% in its financial first quarter ended July 2, aided by like-for-like growth of 5.9%. The retailer said total sales reached $368m (£228m), a 6.3% increase from the same quarter last year. The Easter selling season provided a key boost.The retailer plans to open ...
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AnalysisAhold restructures and aims for the top league
Ahold chief executive Dick Boer commented last week that the company was waiting for the right time and opportunity for an acquisition.
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News
Duane Reade to open flagship store on Wall Street
Drugstore chain Duane Reade is to open a new 22,000 sq ft flagship store on Wall Street with a more upmarket focus. The location will be the store’s first pharmacy linked to Walgreens’ pharmacy system, which means that customers can have their Walgreens pharmacy information available at Duane Reade’s new ...
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News
Grocer Albertsons to banish self-checkouts
Grocer Albertsons is to banish self-checkouts from all of its stores in a bid to increase its customer service offer. Due to the costs involved with flooring and conduits, the retailer will be removing the self-checkout lanes relatively slowly, in line with the current store remodelling programme.In some stores, the ...
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News
Tengelmann Group to withdraw from US
Germany-based Tengelmann Group is apparently looking to withdraw from the US after 32 years of operation by selling its stake in bankrupt grocer A&P.Tengelmann joint chief executive Christian Haub said: “From today’s point of view, it seems rather unlikely that we will continue to hold a stake in A&P.”Tengelmann is ...
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News
Kroger to concentrate on existing markets
David Dillon, chief executive of US grocer Kroger, has said the retailer will concentrate its efforts on pushing sales at existing stores, rather than seek to enter new markets or make acquisitions. Speaking at the company’s AGM, Dillon said even though several small chains had been snapped up in recent ...
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News
Rite Aid reports level revenue
Rite Aid has reported revenues of $6.4bn (£4.01bn) for the first quarter ended May 28, unchanged on the figure for last year’s first quarter.Like-for-like sales increased 0.8% as front-end like-for-likes were flat and pharmacy like-for-likes rose 1.1%.Net losses were $63.1m (£39.6bn) compared with last year’s first quarter net loss of ...
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NewsMacy’s begins shipping to UK
US department store chain Macy’s is making a play for the UK as it opens up its website to customers here
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News
Whole Foods Market sets sight on store growth
Whole Foods Market sees the potential to more than triple its number of US stores, co-chief executive Walter Robb has said. Robb feels Whole Foods can grow its domestic store base from about 300 currently to 1,000 in the longer term.In Canada, the retailer is also looking to ramp up ...
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News
US Supreme Court throws out major suit
The US Supreme Court has thrown out a major employment discrimination class-action suit against Walmart that sought billions of dollars on behalf of about 1.5 million female workers. It signalled it wanted job bias disputes handled in the workplace and not the courts. The court did not decide whether Walmart ...
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News
Kroger reports 11% sales increase
Supermarket chain Kroger reported an 11% increase in sales (including fuel) to $27.5bn (£17bn) for its first quarter ended May 21. Excluding fuel, sales increased by 4.8% over the same period last year. A 4.6% increase in like-for-like sales together with cost savings boosted net profit 15.6% to $432.3m (£267.4m). ...
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News
Best Buy records a 1.7% fall in sales
Electricals giant Best Buy recorded a 1.7% fall in like-for-like sales during its first quarter ended May 28. Total sales grew by 1.4% to $10.9bn (£6.74bn ), but fell 0.8% in the US domestic market to $7.86bn (£4.86bn).Internationally the picture was better, with sales up 7.6% to $3.08bn (£1.9bn), or ...
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NewsGap remodels Old Navy
Clothing retailer Gap is to remodel its discount clothing chain Old Navy, abandoning its surplus feel in favour of a more modern lookThe new store arrangement organises clothes into areas based on outfit types to encourage more impulse purchases.Store designers have moved the checkout area and changing rooms to the ...
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News
Dollar General reports like-for-like sales
Dollar General has reported like-for-like sales up 5.4%, with sales increasing 10.9% to $3.45bn (£2.1bn) for the first quarter ending April 29.
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News
Walgreen acquires Drugstore.com
Walgreens has completed its acquisition of Drugstore.com following a vote of approval from the company’s shareholders.