North America – Page 11
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News
Netflix to link accounts with Facebook
Netflix has reportedly begun asking users to link their Netflix accounts with Facebook in order to share information about what films they are watching with friends and family.Netflix has been rolling out versions of the new Facebook integration to test users over the past few weeks. Facebook is increasingly being ...
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Williams-Sonoma Q4 net revenues up 9.7% to £740m
Home furnishings retailer Williams-Sonoma has reported net revenues in its fourth quarter increased 9.7% to $1.2bn (£740m), including internet net revenue growth of 27.2% and a like-for-like sales increase of 5.2%.At the company’s mail order unit, Direct-to-customer (DTC), net revenues increased 17.3% to $466m (£287m), primarily driven by the Pottery ...
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Walmart chief for the US William Simon confident of reversing the fortunes of the retailer
Walmart chief for the US William Simon said he was confident of reversing the fortunes of the retailer after seven consecutive quarters of domestic sales declines at stores open at least a year.Part of his strategy includes returning to the Everyday Low Prices formula, after it veered to discounting. He ...
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Dissident Publix shareholders launch campaign to replace grocer's board
A group of dissident Publix shareholders has launched a campaign to elect its own slate of nine directors to replace the existing grocer’s board, which is made up of five heirs and relatives of the chain’s founder, George Jenkins. The group is also pushing for the retailer to launch an ...
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Couche-Tard Q3 net earnings jump 29.6% to £46m
Convenience store operator Couche-Tard posted net earnings of $71m (£46m) for the third quarter ended January 30, up 29.6% from the comparable period last year. The increase was attributable to growth in merchandise and service sales, the contribution from a rising number of sites offering fuel and the growth in ...
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News
Walgreens sells its pharmacy benefit management business
Walgreens has sold its pharmacy benefit management business Walgreens Health Initiatives (WHI) to Catalyst Health Solutions for $525m (£450m), subject to certain adjustments. The transaction is structured as an acquisition of all the capital stock of WHI.Walgreens will retain and look to continue growing its speciality pharmacy and mail service ...
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Blockbuster to go ahead with its proposed £180m sale to investors
Troubled retailer Blockbuster has been given clearance by the US courts to go ahead with its proposed $290m (£180m) sale to investors, overcoming fears that the group may file for Chapter 7 liquidation.The retailer had come under pressure from creditors, including a growing number of movie studios that were owed ...
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Gap to close 200 of its 900 stores worldwide by 2013
Clothing giant Gap is to close 200 of its 900 stores worldwide by 2013, and has stated that part of its difficulties are due to it not investing enough in attracting ethnic minority customers in the US. Chairman and chief executive Glenn Murphy said Gap’s market share among African-, Asian- ...
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Oxo total revenue jumps 16.3% to £3.2bn
Convenience store chain Oxxo has reported a total revenue increase of 16.3% for the 2010 financial year, up to 62.3bn pesos (£3.2bn). Sales growth was driven by the opening of 1,092 net new stores during the year and a 5.2% increase in like-for-like sales. Store traffic experienced a 3.9% increase, ...
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Big Lots net Q4 sales up 3.8% to £934m
Discount retailer Big Lots reported that net sales increased 3.8% to $1.52bn (£934m) in the fourth quarter, while net income increased to $110m (£68m) from the $105.4m (£65m) compared with the same period last year.The retailer reported strong 2010 full-year results. Net sales increased 4.8% to $4.9bn (£3bn) and net ...
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News
Kroger sales up 7.1% to £50.5bn
Grocer Kroger reported that sales for the full year increased 7.1% to $82.2bn (£50.5bn). Excluding fuel, total sales increased 3.4% while like-for-like sales were up 2.8%. Net income amounted to $1.12bn (£688m), compared with the $70m (£43m) reported in fiscal 2009. Operating profit totalled 2.65% of sales during the fiscal ...
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NewsJohn Lewis expands online with international delivery
Retailer confident it can conquer US, Europe and Australia with ‘world class’ home product offer.
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News
Family Dollar Stores' directors vote against sale
Family Dollar Stores has announced its board of directors has voted unanimously against a sale to the Trian Group, instead voting for the continuing implementation of the company’s strategic plan.The board felt both decisions were in the best interest of the shareholders. It also decided to adopt a shareholder rights ...
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News
Toys R Us Q4 net income plummets more than 10%
Toys R Us has reported that, despite stronger sales, net income during the fourth quarter dropped more than 10%, which the retailer attributed to a rise in income taxes.Net sales increased 2% to $6bn (£3.7bn), helped by new store locations including Toys R Us Express stores and comparable net sales ...
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News
Blockbuster received bid for £179.9m as it puts itself up for auction
Troubled entertainment retailer Blockbuster has put itself up for auction and has received a bid from a consortium for $290m (£179.9m). The US chain has reportedly agreed to sell itself to Cobalt Video Holdco in a deal that includes its UK operations. Blockbuster chairman and chief executive Jim Keyes said: ...
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News
Safeway rakes up £366m net income after loss last year
Grocery chain Safeway reported net income for the fiscal year ended January 1, 2011 amounted to $590m (£366m), compared with a net loss of $1.1bn (£682.4m) reported last year. Sales for the full year edged up 0.5% to $41.05bn (£25.5bn). Excluding fuel, identical store sales declined 2% while like-for-like sales ...
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Gap Q4 net income up 4% last year
US Fashion retailer Gap has said that fourth-quarter net income rose nearly 4% in 2010 as a result of rising sales abroad, online and at its higher price Banana Republic and lower price Old Navy chains. The retailer reported quarterly net income of $365m (£226.4m). Like-for-like sales did not change. ...
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RadioShack net sales up 4.6% to $4.47bn
Consumer electronics retailer RadioShack has reported total net sales and operating revenues for the year ended December 31, 2010 up 4.6% to $4.47bn (£2.77bn), while net income increased 1.1% to $206m (£127.8m). The sales increase was driven by a 4.4% like-for-like sales increase in company-operated stores and kiosks, helped by ...
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Borders files for bankruptcy protection
Borders has filed for bankruptcy protection, sunk by crushing debt and sluggishness in adapting to a rapidly changing industry.The 40-year-old company plans to close about 200 of its 642 stores over the next few weeks. All of the stores closed will be superstores, a Borders spokeswoman said. The company also ...
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Build-A-Bear revenue up 1.4% to £247m
Toy retailer Build-A-Bear Workshop reported total revenues increased by 1.4% to $401.5m (£247m) in its 2010 fiscal year. Excluding the impact of foreign exchange, net retail sales increased 0.1%.Consolidated like-for-like sales declined 2%, which included a 1.2% decrease in North America and a 5.5% decrease in Europe.Net income for the ...