All North America articles – Page 27
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GalleryStore gallery: New York’s latest store looks
John Ryan tours the city’s stores to discover what has changed since the last visit to coincide with the National Retail Federation convention in the Big Apple.
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News
Walmart reveals plans to boost US sourcing
Walmart has revealed plans to boost the sourcing of US products by $50bn (£31.5bn) over the next decade.The retailer will buy more US products in categories such as sporting goods, clothing basics, games and paper products, and aims to encourage US production in high-potential areas such as textiles, furniture and ...
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OpinionComment: Retailers can take valuable lessons from restaurateurs
In New York last week, investment bank Financo’s 23rd successive Annual Forum was attended by 275 elite invitees, including the chief executives of some celebrated global brands.
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News
Whole Foods Market chief executive John Mackey faces backlash from customers
Whole Foods Market chief executive John Mackey faced a backlash from customers after he likened President Obama’s health care reforms to fascism.The comment was made during an interview to promote his new book when Mackey was asked about a 2009 article in the Wall Street Journal in which he had ...
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News
Best Buy reveals slight revenue decrease
Consumer electronics specialist Best Buy has revealed revenues of $12.8bn (£7.97bn) for the nine weeks ending January 5. That compares with $12.9bn (£8.03bn) for the nine weeks ending December 31, 2011.Turnover was down slightly because of a comparable stores sales fall of 1.4%.The performance was seen as encouraging for Best ...
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AnalysisAnalysis: Why is HMV's Canadian business performing strongly?
As HMV’s UK business enters administration after battling market pressures, Retail Week asks how the entertainment retailer’s Canadian business is achieving strong growth.
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NewsNRF: US retailers urged to challenge industry perceptions
Retailers need to challenge the US government’s perspective of the industry, the president of the National Retail Federation Matthew Shay said today.
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News
Walmart promotes Lev Khasis to chief executive role
Walmart has promoted senior vice-president and chief leverage officer for Walmart International, Lev Khasis, to the position of president and chief executive of new formats for Walmart International.Khasis is a former chairman of the board of Russian grocer Perekrestok and former chief executive of Russia supermarket X5. He joined Walmart ...
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News
TJX acquires discount online retailer
Off-price retailer TJX has acquired discount online retailer Sierra Trading Post in a $200m (£124.5m) cash deal.TJX is developing online shopping sites for its own brands and the acquisition adds online operating capabilities and infrastructure.TJX chief executive Carol Meyrowitz said: “We see Sierra’s management team, with its deep internet retailing ...
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News
7-Eleven purchases 143 sites in Texas
Seven & I-owned 7-Eleven has purchased 143 sites in Texas. The acquisition includes Speedy Stop and Tigermarket convenience stores owned by local operator CL Thomas.The deal also increases 7-Eleven’s fuel wholesale delivery business, because the purchase included petrol distribution to approximately 150 dealer-operated sites.
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NewsGap acquires US luxury fashion retailer Intermix
Gap is set to enter the luxury clothing market after buying New York-based fashion retailer Intermix.
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News
Kroger promotes Lynn Gust to president of Fred Meyer division
Grocer Kroger has promoted Lynn Gust, senior vice-president of operations, to president of Kroger’s Fred Meyer division. Gust started his career with Fred Meyer in 1970 and has served in a variety of leadership roles, including vice-president of the food group and senior vice-president of the store operations group.
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News
Costco reveals opening plans for 2013
Warehouse club operator Costco has revealed its opening plans for the remainder of the 2013 financial year.In the first quarter, which ended on November 25, Costco added nine clubs - eight in the US and one in Canada - bringing its total to 617, including 443 in the US.By the ...
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OpinionComment: The US is still a land of opportunity
On the assumption that the world has not ended today, and that Retail Week is still being read beyond Bugarach, attention will carry on being devoted to transatlantic developments.
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News
Drugstore retailer CVS anticipates "solid enterprise growth"
Drugstore retailer CVS anticipates “solid enterprise growth” for the 2013 financial year, with net revenue growth increasing from 0.75% to 2%. Retail pharmacy net sales growth is expected to be in the 1.25% to 2.5% range, with like-for-like sales gains of 0.25% to 1.5%.
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AnalysisAnalysis: Who is Apollo Global Management?
Investment specialist Apollo Global Management acquired 10% of HMV’s debt from Allied Irish Banks last week which some are predicting could signal intention of a takeover. Retail Week takes a look at the company.
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AnalysisAnalysis: Why have UK retailers struggled to crack America?
As Tesco looks set to exit the US, Retail Week takes a look at why British retailers have found it a tough market to crack.
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News
Barnes & Noble reports revenue decrease
Bookseller Barnes & Noble reported revenue fell 0.4% to $1.9bn (£1.18bn) in its second quarter to October 27.The retailer recorded a net profit of $2m (£1.2m) against a net loss of $7m (£4.4m) in the same period last year.Retail sales from Barnes & Noble stores and BN.com fell 3% to ...
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NewsPhilip Clarke set to axe loss-making Fresh & Easy
Tesco chief executive Philip Clarke has nailed his colours to the mast with the launch of a strategic review of the retailer’s loss-making US business, Fresh & Easy, and the departure of highly regarded deputy chief executive Tim Mason.
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News
Walmart reports successful Black Friday promotion
The retailer revealed it sold 1.8 million towels, 1.3 million TVs, 1.3 million dolls and 250,000 bicycles.Walmart ran three Sales events at 8pm and 10pm on Thanksgiving evening and from 5am on Black Friday itself.